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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 1, 2002 United Community Bank Rabun County GA United Community Bank
Dec 1, 2002 United Community Bank Metro GA United Community Bank
Dec 1, 2002 Security Acadia Bancshares, Inc. LA Financial Corporation of Louisiana
Dec 1, 2002 American Pioneer Federal Credit Union PA Viriva Community Credit Union
Dec 1, 2002 The State Credit Union NJ Credit Union of New Jersey
Dec 1, 2002 The Gardena Friendly Federal Credit Union CA Northrop Grumman Federal Credit Union
Dec 1, 2002 American Bank National Association LA American Horizons Bank
Dec 1, 2002 Bank of Greenville WV First Community Bank
Dec 1, 2002 United Community Bank Towns County GA United Community Bank
Dec 1, 2002 Erie Strayer Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2002 Sun Catholic Credit Union AZ Marisol Federal Credit Union
Dec 1, 2002 C P Works Employees Federal Credit Union PA Tri Boro Federal Credit Union
Dec 1, 2002 United Community Bank White County GA United Community Bank
Dec 1, 2002 United Communitiy Bank Dawson County GA United Community Bank
Dec 1, 2002 The Industrial Bank of Japan Trust Company NY Mizuho Bank (USA)
Nov 30, 2002 Fortress Bancshares, Inc. WI Merchants Merger Corp.
Nov 30, 2002 Cavalier Credit Union ND North Star Community Credit Union
Nov 29, 2002 South Gasconade Investment Corporation MO Linn Holding Company
Nov 26, 2002 Frontier State Bank AZ National Bank of Arizona
Nov 25, 2002 Ebc Employees Credit Union VT Vermont Federal Credit Union
Nov 23, 2002 Palmyra Savings MO First Federal Bank
Nov 23, 2002 Blue River Federal Savings Bank IN Salin Bank and Trust Company
Nov 22, 2002 Eastern Bank & Trust MA Eastern Bank
Nov 20, 2002 White Gold Credit Union GA Georgia Guard Credit Union
Nov 18, 2002 Texas Country Bank TX Texas State Bank
Nov 18, 2002 San Juan Delaware Financial Corporation DE BBVA Compass Bancshares, Inc.
Nov 18, 2002 San Juan Bancshares, Inc. TX BBVA Compass Bancshares, Inc.
Nov 17, 2002 Centennial Bank OR Columbia Bank
Nov 16, 2002 Columbus FSB NE BankFirst
Nov 16, 2002 Centennial Bancorp OR Umpqua Holdings Corporation
Nov 16, 2002 The Corning Bank AR First National Bank
Nov 16, 2002 TrustCo Bank, National Association NY TrustCo Bank
Nov 16, 2002 Security State Bank of Deer Creek MN Wadena State Bank
Nov 15, 2002 CF Glass Employees Federal Credit Union RI Navigant Credit Union
Nov 15, 2002 (unnamed) — First National Bank
Nov 15, 2002 National Bank of Hastings MI Sand Ridge Bank
Nov 15, 2002 The Bright National Bank IN Sand Ridge Bank
Nov 14, 2002 First State Bank of Donalsonville GA First State Bank of Blakely
Nov 13, 2002 California Federal Bank CA West, National Association
Nov 13, 2002 Bank of the Northwest OR Pacific Northwest Bank
Nov 12, 2002 Texas Asset Acquisition Corporation TX Bank One, National Association
Nov 9, 2002 The Morrill State Bank & Trust Co. KS Bank of Blue Valley
Nov 9, 2002 Bank of Tanglewood, National Association TX Bank of Texas. National Association
Nov 9, 2002 First South Bank FL Truist Bank
Nov 9, 2002 Cayuga Bank NY First Niagara Bank, N.A.
Nov 9, 2002 21st Century Bank MN 21st Century Bank
Nov 9, 2002 First National Bank of Onaga KS Bank of Blue Valley
Nov 9, 2002 Cortland Savings Bank NY First Niagara Bank, N.A.
Nov 8, 2002 Metropolitan National Bank OH First National Bank of Pennsylvania
Nov 8, 2002 American National Bank and Trust Company of Chicago IL Bank One, National Association

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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