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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
Dec 31, 2002 Usb, Inc. WI Fifth Third Bank, N.A.
Dec 31, 2002 FSB Acquisition Corp. KY First State Bancshares, Inc.
Dec 31, 2002 Liberty Bancorp, MHC NJ NSB Holding Corp.
Dec 31, 2002 First Savings and Loan Association of America, a Federal Savings Association GU Bank of Hawaii
Dec 31, 2002 Liberty Bank NJ Northfield Bank
Dec 31, 2002 Banco Di Napoli S.P.A. — Sanpaolo Imi S.P.A.
Dec 31, 2002 First Banks America, Inc. CA FB Corporation
Dec 31, 2002 Union Financial Group LTD MO The San Francisco Company
Dec 31, 2002 First Pennsylvania Savings Association PA Fidelity Savings Bank
Dec 30, 2002 UBS Inc. CT UBS Americas Inc.
Dec 28, 2002 Herkimer Trust Corporation, Inc. NY Partners Trust Bank
Dec 27, 2002 Washita Bancshares, Inc. OK Washita State Bank
Dec 26, 2002 Farmers Deposit Bancorp KY Premier Financial Bancorp, Inc.
Dec 26, 2002 Georgetown Bancorp, Inc. KY Premier Financial Bancorp, Inc.
Dec 25, 2002 Orange County Gardeners Credit Union CA Nikkei Credit Union
Dec 24, 2002 First Community National Bank IA Union Bank of Arizona, N.A.
Dec 20, 2002 First Missouri Bancorporation, Inc. MO Landrum Company
Dec 20, 2002 Las Animas County Teachers Federal Credit Union CO Power Credit Union
Dec 20, 2002 Community Bank - Excelsior Springs, A Savings Bank MO North American Savings Bank, FSB
Dec 19, 2002 Prime Bancshares, Inc. MN WFC Holdings, LLC
Dec 16, 2002 Frontier National Bank GA Frontier Bank
Dec 16, 2002 1st Choice Financial Corp. MN First Commerce Bancshares, Inc.
Dec 14, 2002 Peoples Bank KS Great Western Bank
Dec 14, 2002 Heartland Health Federal Credit Union MO Postal & Community Credit Union
Dec 14, 2002 Peoples Bank NM Peoples Bank
Dec 14, 2002 Banco Financiero de Puerto Rico PR Eurobank
Dec 13, 2002 Texas Bancshares, Inc. MN Wells Fargo & Company
Dec 13, 2002 Buffalo National Bancshares, Inc. MN Wells Fargo & Company
Dec 12, 2002 First National Bank of Johns Creek GA Main Street Bank
Dec 11, 2002 Local 144 S.E.I.U. Federal Credit Union NY I Am Federal Credit Union
Dec 10, 2002 Neisler Credit Union IL Staley Credit Union
Dec 9, 2002 State Bank of Wonewoc WI Baraboo State Bank
Dec 7, 2002 Mississippi Southern Bank MS State Bank & Trust Company
Dec 7, 2002 Kaneland Community Bank IL American Bank and Trust Company, N.A.
Dec 7, 2002 High Street Banking Company NC Capital Bank
Dec 7, 2002 West Burlington Bank IA Farmers & Merchants Bank & Trust
Dec 6, 2002 Embry Bank GA First Bank of the South
Dec 3, 2002 Wachovia Acquisition Corporation 2001-01 NC Wachovia Corporation
Dec 3, 2002 Heights State Bank TX Extraco Banks, N.A.
Dec 2, 2002 Port City Employees Federal Credit Union TX Baker Hughes Federal Credit Union
Dec 2, 2002 Harris Trust Company WA The Harris Bank National Association
Dec 2, 2002 Towne Bank OH Oak Hill Banks
Dec 2, 2002 Harris Trust Company of California CA The Harris Bank National Association
Dec 2, 2002 Pantagraph Printing Employees Credit Union IL Prairieland Federal Credit Union
Dec 2, 2002 Chicagoland Credit Union IL Illiana Financial Credit Union
Dec 1, 2002 United Community Bank North Georgia GA United Community Bank
Dec 1, 2002 High Street Corporation NC Capital Bank Corporation
Dec 1, 2002 Provident Investment Management Corporation OH The Provident Bank
Dec 1, 2002 Monroe Financial, Inc. WV First Community Bankshares, Inc.
Dec 1, 2002 United Community Bank West Georgia GA United Community Bank

The list holds 500 of the 786 mergers recorded for 2002.

Enforcement Actions in 2002

Action date Agency Institution Action
Jul 11, 2002 OCC_OTS Fidelity Federal Savings and Loan Associates Civil Money Penalty: Richard M. Greenwood
Jul 11, 2002 OCC_OTS Fidelity Federal Savings and Loan Associates Cease and Desist: Richard M. Greenwood
Jul 10, 2002 OCC The First National Bank of Limon Formal Agreement: First National Bank of Limon
Jul 8, 2002 OCC_OTS First Capital Bancshares, Inc. Supervisory Agreement: Lee C. Shortt
Jul 8, 2002 OCC_OTS First Capital Bancshares, Inc. Supervisory Agreement: Wylie F. Cartrette
Jul 8, 2002 OCC_OTS First Capital Bancshares, Inc. Supervisory Agreement: Evelyn Fay Jeffers
Jul 8, 2002 OCC_OTS First Capital Bancshares, Inc. Supervisory Agreement: Bernard O. Jeffers
Jul 5, 2002 FRB (individual) Written Agreement: Rurban Financial Corp., Defiance, OH and The State Bank and Trust Company, …
Jul 1, 2002 OCC Wachovia Corporation Prohibition/Removal Orders: Hudson, Kevin C.
Jun 27, 2002 OCC Community National Bank Formal Agreement: Community National Bank
Jun 26, 2002 FRB Great Eastern Bank Cease and Desist Order: Joseph C.C. Kuo
Jun 26, 2002 FRB Great Eastern Bank Cease and Desist Order: Ching-Tseh Yao
Jun 26, 2002 FRB Great Eastern Bank Cease and Desist Order: Lih Yuh Kuo
Jun 26, 2002 FRB Great Eastern Bank Cease and Desist Order: Paul Lee
Jun 26, 2002 FRB Great Eastern Bank Cease and Desist Order: William Chiang
Jun 21, 2002 OCC The Lake Bank, National Association Formal Agreement: The Lake Bank, National Association
Jun 20, 2002 FRB (individual) Written Agreement: Madison Bank, Blue Bell, PA
Jun 19, 2002 OCC_OTS Berean Bank Capital Directives: Berean Bank
Jun 19, 2002 FRB First American Bancorp, Inc. Written Agreement: First American Bancorp, Inc., Stonewall, OK and First American Bank, Stonewall, OK
Jun 18, 2002 OCC The First National Bank of Chelsea Formal Agreement: The First National Bank of Chelsea
Jun 18, 2002 OCC Ohio Legacy Corp. Formal Agreement: Ohio Legacy Bank, National Association
Jun 13, 2002 OCC The First National Bank of O'Donnell Formal Agreement: The First National Bank of O'Donnell
Jun 12, 2002 OCC Prime Pacific Financial Services, Inc. Formal Agreement: Prime Pacific Bank, National Association
Jun 11, 2002 OCC_OTS Golden Prague Federal Savings and Loan Association Supervisory Agreement: Golden Prague FS&LA
Jun 10, 2002 OCC Henderson National Bank Formal Agreement: Henderson National Bank
Jun 7, 2002 OCC Riverside National Bank of Florida Prohibition/Removal Orders: Phanco, Darlene
Jun 5, 2002 OCC Belmont National Bank Prohibition/Removal Orders: Wallace, William
Jun 5, 2002 OCC Belmont National Bank Civil Money Penalty (CMP): Wallace, William
Jun 3, 2002 OCC Republic Federal Bank, N.A. Formal Agreement: The Hemisphere National Bank
May 23, 2002 OCC The First National Bank of Germantown Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Germantown
May 17, 2002 OCC Community First Bank, National Association Formal Agreement: Community First Bank, National Association
May 15, 2002 FRB Allfirst Trust Company N.A. Written Agreement: Allied Irish Banks, p.l.c., Dublin, Ireland, Allfirst Financial Inc., Baltimore, MD and …
May 15, 2002 OCC First Consumers National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Consumers National Bank
May 10, 2002 OCC Harbor Bank, National Association Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Harbor Bank, National Association
May 9, 2002 FRB (individual) Prohibition from Banking: Edward DeRosa
May 7, 2002 FRB Bank of the Orient Cease and Desist Order: Bank of the Orient, San Francisco, CA
May 7, 2002 OCC First National Bank at Darlington Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank at Darlington
May 6, 2002 OCC Capital Bank, N.A. Formal Agreement: Harbor Capital National Bank
May 3, 2002 OCC_OTS (individual) Supervisory Agreement: First State, F.S.B.
Apr 30, 2002 FRB Mercantil, C.A. (Banco Universal) Cease and Desist Order: Pedro Cabrera
Apr 23, 2002 OCC Stebbins National Bank Civil Money Penalty (CMP): Stebbins, James C.
Apr 23, 2002 FRB (individual) Civil Money Penalty $10,000: Community Bank of Granbury, Granbury, TX
Apr 23, 2002 OCC The First National Bank of St. Marys Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of St. …
Apr 18, 2002 OCC_OTS Union Federal Bank of Indianapolis Orders of Removal/Prohibition: Randall E. Hendricks, III
Apr 16, 2002 OCC Direct Merchants Credit Card Bank, N.A. Formal Agreement: Direct Merchants Credit Card Bank, N.A.
Apr 15, 2002 OCC_OTS (individual) Cease and Desist: Donald McG. Woods
Apr 12, 2002 OCC The First National Bank & Trust Company of Beatrice Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank & Trust …
Apr 11, 2002 OCC Modern Bank, N.A. Formal Agreement: Excel Bank, N.A.
Apr 11, 2002 OCC Cumberland National Bank Formal Agreement: Cumberland National Bank
Apr 10, 2002 OCC Bay View Bank, N.A. Civil Money Penalty (CMP): Saei, Michael

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