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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 HQ Assets Acquirer or resolution
Dec 17, 2002 The Farmers Bank & Trust of Cheneyville Cheneyville, LA $35.3M Sabine State Bank & Trust C
Nov 8, 2002 Bank of Alamo Alamo, TN $58.5M —
Sep 30, 2002 Amtrade International Bank of Georgia Atlanta, GA $92.1M —
Jun 27, 2002 Universal FSB Chicago, IL $51.6M Chicago Community Bank
Jun 26, 2002 Connecticut Bank of Commerce Stamford, CT $384.2M Hudson United Bank
Mar 28, 2002 New Century Bank Shelby Township, MI $21.1M —
Mar 1, 2002 Net First National Bank Boca Raton, FL $37.2M Bank Leumi
Feb 7, 2002 Nextbank Phoenix, AZ $700.2M —
Feb 1, 2002 Oakwood Deposit Bank Oakwood, OH $72.3M The State Bank and Trust Co
Jan 18, 2002 Bank of Sierra Blanca Sierra Blanca, TX $10.8M The Security State Bank of
Jan 11, 2002 Hamilton Bank, N.A. Miami, FL $1.41B Israel Discount Bank of New

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 St Acquirer
Jun 28, 2002 The Waverly Building and Loan Company OH American Savings Bank, FSB
Jun 28, 2002 Pendleton Federal Savings Bank KY United Midwest Savings Bank, N.A.
Jun 25, 2002 Preferred Bancshares, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Community First Properties, Inc. ND Community First Bankshares, Inc.
Jun 25, 2002 R.O.M. Financial Services, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Oakley Holding Company MN Klein Financial, Inc.
Jun 22, 2002 Jefferson Heritage Bank TX Union Planters Bank, National Association
Jun 22, 2002 Kerman State Bank CA Westamerica Bank
Jun 22, 2002 First State Bank of Fort Collins CO First Main Street Bank, National Association
Jun 22, 2002 Caroline Savings Bank VA Virginia Heartland Bank
Jun 21, 2002 Bank One, Michigan MI Bank One, National Association
Jun 21, 2002 Community Bank KS Astra Bank
Jun 20, 2002 Metropolitan Bancshares, Inc. TN First Citizens Bancshares, Inc.
Jun 19, 2002 Newport Federal Savings Bank AR Iberiabank FSB
Jun 19, 2002 First Trust Bank of Shelbyville IL Main Street Bank & Trust
Jun 18, 2002 Independence Bank NC Bank of North Carolina
Jun 17, 2002 (unnamed) — Sabine State Bank and Trust Company
Jun 15, 2002 First State Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 The First National Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 First American Bank IA First American Bank
Jun 15, 2002 Associated Bank Minnesota MN Associated Bank Minnesota, National Association
Jun 15, 2002 Signal Bank South National Association MN Associated Bank Minnesota, National Association
Jun 15, 2002 Bank of Santa Fe, National Association NM Wells Fargo Bank New Mexico, National Association
Jun 14, 2002 Arvest Bank AR Arvest Bank
Jun 10, 2002 The Bancorp, Inc. WI The Baraboo Bancorporation, Inc.
Jun 10, 2002 Norkitt Bancorp, Inc. MN Marshall BankFirst Corporation
Jun 10, 2002 Wauneta Falls Bancorp, Inc. NE First Express of Nebraska, Inc.
Jun 7, 2002 Peoples Bank of Tompkinsville KY Edmonton State Bank
Jun 3, 2002 Rogers Park Safe Deposit Company IL The First Commercial Bank
Jun 3, 2002 Hercules Covington Employees Credit Union VA Jackson River Community Credit Union
Jun 3, 2002 Knottsville Credit Union KY Green River Area Federal Credit Union
Jun 3, 2002 Snowbird Employees Credit Union UT Utah First Federal Credit Union
Jun 1, 2002 Tehama Bank CA Humboldt Bank
Jun 1, 2002 Mercer County (Pa) United States Employees Federal Cu PA Pennstar Federal Credit Union
Jun 1, 2002 Educators Credit Union CO Power Credit Union
Jun 1, 2002 Super Chief Credit Union KS Envista Federal Credit Union
Jun 1, 2002 Menahga Co-Op Federal Credit Union MN Trustar Federal Credit Union
Jun 1, 2002 Hilton Davis Employees Federal Credit Union OH Kemba Credit Union, Inc.
Jun 1, 2002 Peoples Bank AR Iberiabank FSB
Jun 1, 2002 G N B Employees Credit Union IL Credit Union 1
Jun 1, 2002 West Central Illinois Credit Union IL Heritage Credit Union
Jun 1, 2002 Swanson Employees Federal Credit Union PA Widget Federal Credit Union
Jun 1, 2002 Firth Sterling Credit Union PA Parkview Community Federal Credit Union
Jun 1, 2002 The Morris Plan Savings Bank, Inc., SSB NC Randolph Bank & Trust Company
Jun 1, 2002 Mobile County Bank AL Century Bank
Jun 1, 2002 Snake River Teachers Credit Union ID Members Preferred Credit Union
Jun 1, 2002 Rocky Ford Federal Savings and Loan Association of Colorado CO Community Banks of Southern Colorado
Jun 1, 2002 Richfield Bank & Trust Co. MN M&I Marshall and Ilsley Bank
Jun 1, 2002 Lubbock Federal Credit Union TX Alliance Credit Union
Jun 1, 2002 Connecticut Family Credit Union, Inc. CT First Bristol Federal Credit Union

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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