Calendar Year
2002 in US Banking
1,005 bank events are on record for 2002: 11 failures, 786 mergers or acquisitions involving a bank, credit union or bank holding company, and 208 enforcement actions.
11
Failures
$2.87B in failed assets
786
Mergers
Federal Reserve NIC, banking organizations
208
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
Jump to: Bank failures 2002 · Bank mergers 2002
How many banks failed in 2002?
11 banks failed in 2002, with $2.87B in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2002 | The Farmers Bank & Trust of Cheneyville | $35.3M |
| Nov 8, 2002 | Bank of Alamo | $58.5M |
| Sep 30, 2002 | Amtrade International Bank of Georgia | $92.1M |
| Jun 27, 2002 | Universal FSB | $51.6M |
| Jun 26, 2002 | Connecticut Bank of Commerce | $384.2M |
| Mar 28, 2002 | New Century Bank | $21.1M |
| Mar 1, 2002 | Net First National Bank | $37.2M |
| Feb 7, 2002 | Nextbank | $700.2M |
| Feb 1, 2002 | Oakwood Deposit Bank | $72.3M |
| Jan 18, 2002 | Bank of Sierra Blanca | $10.8M |
| Jan 11, 2002 | Hamilton Bank, N.A. | $1.41B |
Which banks merged in 2002?
786 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 2002.
See the fuller list: Bank mergers 2002 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Jul 13, 2002 | Marquette Bank Morrison | Wells Fargo Bank Illinois, National Association |
| Jul 13, 2002 | Marquette Bank Monmouth | Wells Fargo Bank Illinois, National Association |
| Jul 13, 2002 | Marquette Bank, National Association | Wells Fargo Bank Minnesota, National Association |
| Jul 12, 2002 | Brookhollow National Bank | Regions Bank |
| Jul 12, 2002 | The First State Bank | Prosperity Bank |
| Jul 11, 2002 | The Bank of Perry | First State Bank and Trust |
| Jul 11, 2002 | Rowan-Iredell Area Credit Union | First Legacy Community Credit Union |
| Jul 10, 2002 | Ventura Texaco Employees Federal Credit Union | Ventura County Credit Union |
| Jul 10, 2002 | Shawnee Bancshares, Inc. | First Southern Bancshares, Inc |
| Jul 10, 2002 | Advance Stamping Company Federal Credit Union | Parkway Federal Credit Union |
| Jul 8, 2002 | The Beatrice National Bank and Trust Company | Pinnacle Bank |
| Jul 5, 2002 | Norton Federal Credit Union | Valley Federal Credit Union |
| Jul 1, 2002 | Cerritos Valley Bancorp | Cerritos Valley Bank |
| Jul 1, 2002 | Credit Carimonte S.P.A. | Unicredit S.P.A. |
| Jul 1, 2002 | F & M Community Bank, N.A. | F & M Community Bank, N.A. |
| Jul 1, 2002 | Advance Acceptance Corporation | First Western Bank and Trust |
| Jul 1, 2002 | Ridgeway Bancshares, Inc. | Community Bankshares, Inc. |
| Jul 1, 2002 | Data Fac Computer Company, Inc. | Bank of Commerce |
| Jul 1, 2002 | Middlesex Bank & Trust Company | Connecticut Community Bank, N.A. |
| Jul 1, 2002 | Household Bank (Nevada), N.A. | HSBC Bank Nevada, N.A. |
| Jul 1, 2002 | Rolo Banca 1473 S.P.A. | Unicredit S.P.A. |
| Jul 1, 2002 | Beneficial National Bank USA | HSBC Bank Nevada, N.A. |
| Jul 1, 2002 | East Point Municipal Employees Credit Union | Fort McPherson Credit Union |
| Jul 1, 2002 | Garfield Credit Union | Transwest Credit Union |
| Jul 1, 2002 | First Community Credit Union of Marinette | Forward Financial Credit Union |
| Jul 1, 2002 | Southeast Florida Credit Union | Ithink Financial Credit Union |
| Jul 1, 2002 | Columbia Hospital for Women Federal Credit Union | Democracy Federal Credit Union |
| Jul 1, 2002 | Motion Control Industries Federal Credit Union | Penntech Employees Federal Credit Union |
| Jul 1, 2002 | Progressive Credit Union | Credit Union 1 |
| Jul 1, 2002 | Arrowhead Cooperative Credit Union | Members Cooperative Credit Union |
| Jul 1, 2002 | Roosevelt County School Employee Credit Union | First Financial Credit Union |
| Jul 1, 2002 | Northwest Indiana Medical Federal Credit Union | Northern Indiana Federal Credit Union |
| Jul 1, 2002 | Ryco Federal Credit Union | Rimrock Credit Union |
| Jul 1, 2002 | First Commercial Bank of Southeast Missouri | First Commercial Bank |
| Jul 1, 2002 | Blessed Sacrament Federal Credit Union | SJB Federal Credit Union |
| Jul 1, 2002 | P. W. T. Federal Credit Union | First Community Credit Union |
| Jul 1, 2002 | Heco Federal Credit Union | Tacoma Narrows Federal Credit Union |
| Jul 1, 2002 | Warren State Hospital Employees Federal Credit Union | N F G #2 Federal Credit Union |
| Jul 1, 2002 | Kenosha Catholic Community Credit Union | Educators Credit Union |
| Jun 30, 2002 | Local 648 Hamilton Federal Credit Union | Chaco Credit Union, Inc. |
| Jun 30, 2002 | Landmark Bancshares of Oklahoma, Inc | Landrum Company |
| Jun 30, 2002 | Landmark Bancshares of Texas, Inc. | Landrum Company |
| Jun 30, 2002 | Jack's Fork Bancorporation, Inc. | Landrum Company |
| Jun 30, 2002 | Durham Municipal Credit Union | Members Credit Union |
| Jun 30, 2002 | PRR Conemaugh Federal Credit Union | Merho Federal Credit Union |
| Jun 29, 2002 | Western Security Finance Corporation | Citizens Business Bank, N.A. |
| Jun 29, 2002 | Western Security Acceptance Corporation | Citizens Business Bank, N.A. |
| Jun 29, 2002 | Western Security Bank, National Association | Citizens Business Bank, N.A. |
| Jun 28, 2002 | Winterset State Bank | Central Bank of Kansas City |
| Jun 28, 2002 | Citizens State Bank of Gaylord | Progrowth Bank |
The list holds 500 of the 786 mergers recorded for 2002.
Enforcement Actions in 2002
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Sep 26, 2002 | OCC | National Bank of Andover | Formal Agreement: National Bank of Andover |
| Sep 24, 2002 | OCC | Modern Bank, N.A. | Formal Agreement: Excel Bank, National Association |
| Sep 23, 2002 | OCC | Bank of America International Texas | Prohibition/Removal Orders: Wallace, Sheryl L. |
| Sep 23, 2002 | OCC | Bank of America International Texas | C&D or PC&D Requiring Restitution: Wallace, Sheryl L. |
| Sep 23, 2002 | OCC | Bank of China | Prohibition/Removal Orders: Jiang, Ming |
| Sep 20, 2002 | FRB | Broadstreet, Inc. | Cease and Desist Order: Broadstreet, Inc., Atlanta, GA and AmTrade International Bank of Georgia, … |
| Sep 20, 2002 | OCC | Executive National Bank | Civil Money Penalty (CMP): Young, G. Craig |
| Sep 18, 2002 | OCC | The First National Bank of Wamego | Formal Agreement: The First National Bank of Wamego |
| Sep 18, 2002 | OCC | Banc One Kentucky Corporation | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gray, Downey M. |
| Sep 16, 2002 | OCC | Surety Capital Corporation | Prohibition/Removal Orders: Gardner, Bonnie |
| Sep 9, 2002 | OCC | KeyBank N.A. | Prohibition/Removal Orders: Emerick, Jayna N. |
| Sep 9, 2002 | OCC | KeyBank N.A. | C&D or PC&D Requiring Restitution: Emerick, Jayna N. |
| Sep 4, 2002 | OCC | First National Bank of Northern Kentucky | Prompt Corrective Action (PCA) Directive: First National Bank of Northern Kentucky |
| Sep 3, 2002 | OCC | Bank of China | Civil Money Penalty (CMP): Luo, Jia Shu |
| Sep 3, 2002 | OCC | Bank of China | Prohibition/Removal Orders: Luo, Jia Shu |
| Sep 3, 2002 | OCC | Bank of China | Prohibition/Removal Orders: Li, Chuan Jie |
| Sep 3, 2002 | OCC | First Farmers and Merchants Bank | Formal Agreement: First Farmers and Merchants National Bank |
| Sep 3, 2002 | OCC | Bank of China | Civil Money Penalty (CMP): Jie, Li Chuan |
| Aug 28, 2002 | OCC | First National Bank of Steeleville | Formal Agreement: First National Bank of Steeleville |
| Aug 28, 2002 | OCC | Florida Capital Bank, N.A. | Formal Agreement: First National Bank |
| Aug 23, 2002 | OCC | Bank of China | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gao, Jian Hua |
| Aug 23, 2002 | OCC | Mauriceville National Bank | Prohibition/Removal Orders: Thornton, Deon |
| Aug 23, 2002 | OCC | Marquette Bank Minneapolis, National Association | Prohibition/Removal Orders: Tyus, Cynthia D. |
| Aug 22, 2002 | OCC_OTS | Algiers Homestead Association | Termination of Cease and Desist: Algiers Homestead Association |
| Aug 22, 2002 | OCC | TrustCo Bank | Formal Agreement: Trustco Bank, National Association |
| Aug 21, 2002 | OCC | The First National Bank of Mayfield | Formal Agreement: The First National Bank of Mayfield |
| Aug 16, 2002 | OCC_OTS | UmbrellaBank, FSB | Cease and Desist: UmbrellaBank, fsb |
| Aug 16, 2002 | OCC_OTS | (individual) | Cease and Desist: Umbrella Bancorp, Inc. |
| Aug 14, 2002 | OCC | Banco de La Republica Oriental Del Uruguay | Formal Agreement: Banco de LA Republica Oriental Del Uruguay |
| Aug 13, 2002 | OCC_OTS | Superior Bank, Federal Savings Bank | Cease and Desist: Nelson L. Stephenson |
| Aug 13, 2002 | OCC | The First National Bank of Arenzville | Civil Money Penalty (CMP): Millard, Brian |
| Aug 13, 2002 | OCC_OTS | Superior Bank, Federal Savings Bank | Cease and Desist: William C. Bracken |
| Aug 12, 2002 | OCC | Washington State Bank, National Association | Formal Agreement: Washington State Bank, National Association |
| Aug 6, 2002 | OCC | Wells Fargo Bank, National Association | Prohibition/Removal Orders: Feispor, Rashel |
| Aug 5, 2002 | OCC_OTS | Oak Tree Federal Savings Bank | Cease and Desist: William W. Vaughan, III |
| Aug 5, 2002 | OCC_OTS | Oak Tree Federal Savings Bank | Cease and Desist: Gerald G. Barton |
| Jul 31, 2002 | OCC | Union Bank of Arizona, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Union Bank of Arizona, National Association |
| Jul 30, 2002 | OCC | The First National Bank of Strasburg | Prohibition/Removal Orders: Cole, George J. |
| Jul 30, 2002 | OCC | The First National Bank of Strasburg | C&D or PC&D Requiring Restitution: Cole, George J. |
| Jul 29, 2002 | OCC_OTS | Fidelity Federal Savings and Loan Associates | Cease and Desist: W. C. Taylor, III |
| Jul 25, 2002 | FRB | First Community Bank and Trust | Written Agreement: Community First Bank and Trust, Celina, OH |
| Jul 22, 2002 | OCC_OTS | Angelina Savings Bank, SSB | Orders of Removal/Prohibition: Shelly R. Kornegay |
| Jul 22, 2002 | OCC | Incommons Bank, N.A. | Formal Agreement: First National Bank of Mexia |
| Jul 22, 2002 | OCC | First Community Bank of Cherokee | Formal Agreement: First National Bank of Cherokee |
| Jul 18, 2002 | OCC | First National Bank | Formal Agreement: First National Bank |
| Jul 17, 2002 | OCC | PNC Bank, N.A. | Formal Agreement: PNC Bank, National Association |
| Jul 17, 2002 | OCC | Golden Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Texas First National Bank |
| Jul 15, 2002 | OCC_OTS | Metro Bank, FSB | Supervisory Agreement: James R. Niblock |
| Jul 12, 2002 | FRB | The PNC Financial Services Group, Inc. | Written Agreement: The PNC Financial Services Group, Inc., Pittsburg, PA |
| Jul 12, 2002 | OCC | Steel Valley Bank, N.A. | Formal Agreement: Steel Valley Bank, National Association |
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