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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 1, 2002 Security State Bank IA United Community Bank
Jun 1, 2002 Interstate Publishers Employees Credit Union IL Danville Bell Credit Union
Jun 1, 2002 Grand Bancorp, Inc. AL Bancorp of Lucedale, Inc.
Jun 1, 2002 K. Roberts, Inc. MN Northwestern Bancshares, Inc.
Jun 1, 2002 Century Bank, National Association MN M&I Marshall and Ilsley Bank
Jun 1, 2002 American Community Bank of Georgia GA First National Bank of Griffin
Jun 1, 2002 Security First Network Bank GA RBC Bank (USA)
Jun 1, 2002 Capitol Valley Bank CA Humboldt Bank
May 31, 2002 Alice City Employees Federal Credit Union TX Gulf Coast Federal Credit Union
May 31, 2002 SBC Financial Corporation NY The Oneida Savings Bank
May 31, 2002 First Superior Credit Union WI Unitedone Credit Union
May 29, 2002 Alcoa Federal Credit Union IN Health Care Professionals Federal Credit Union
May 28, 2002 Charter National Bancorp, Inc. MI Charter-Michigan Bancorp, Inc.
May 28, 2002 True Blue Federal Credit Union WV West Virginia Federal Credit Union
May 25, 2002 Palomar Community Bank CA 1st Centennial Bank
May 23, 2002 Thomson Investment Company, Inc. IL Savanna-Thomson Investment, Inc.
May 23, 2002 Savanna State Bank IL Fidelity Bank
May 21, 2002 Erie Concrete Steel Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
May 21, 2002 Omega City Holding Company ND First Financial Corporation
May 18, 2002 Citizens Bank and Trust Company MS The Citizens Bank of Philadelphia
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Charter One Commercial NY Charter One Bank, National Association
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Independence Bank, National Association TX Regions Bank
May 17, 2002 Arvest Bank OK Arvest Bank
May 16, 2002 Prices Employees Federal Credit Union TX Mountain Star Federal Credit Union
May 16, 2002 I S E a Credit Union IA Greater Iowa Credit Union
May 15, 2002 The Bank of Parrish AL First National Bank
May 15, 2002 CPR — Credit Agricole Corporate and Investment Bank
May 15, 2002 Harbor Japanese Credit Union CA Jacom Credit Union
May 14, 2002 First Western Bank CA MUFG Union Bank, National Association
May 11, 2002 Community First Bank GA Truist Bank
May 10, 2002 The Bank of St. Charles County MO Allegiant Bank
May 9, 2002 Starpoint Central School Federal Credit Union NY Niagara Regional Federal Credit Union
May 9, 2002 The Yonkers Savings and Loan Association, F.A. NY Atlantic Bank of New York
May 9, 2002 Texas Guaranty Bank, National Association TX Prosperity Bank
May 6, 2002 FNB-Southwest, National Association VA FNB Salem Bank and Trust, National Association
May 6, 2002 FNB Mortgage Company CO First Main Street Bank, National Association
May 2, 2002 Williamstown Mutual Holding Company MA Mountainone Financial, MHC
May 1, 2002 Bank of Avoca NY Bath National Bank
May 1, 2002 Coastal Commerce Bankshares, Inc. LA Kaplan State Bank
May 1, 2002 Cushman Federal Credit Union NE Lincone Federal Credit Union
May 1, 2002 Freedom Area Schools Federal Credit Union PA Freedom United Federal Credit Union
May 1, 2002 Ampco Credit Union WI Guardian Credit Union
May 1, 2002 Michigan Railroaders Credit Union MI South Central Credit Union
May 1, 2002 Christ Hospital Federal Credit Union NJ Healthcare Employees Federal Credit Union
May 1, 2002 LTV Steel Employees Federal Credit Union IN Tech Credit Union
May 1, 2002 Allied Van Lines Employees Credit Union IL Credit Union 1
May 1, 2002 Metro East Credit Union IL Scott Credit Union
May 1, 2002 Apa Federal Credit Union DC Signal Financial 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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