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 |
|---|---|---|
| Sep 13, 2002 | Eagle National Bank | Sterling Bank |
| Sep 11, 2002 | First National Bank | First National Bank |
| Sep 9, 2002 | Bank of Clinton County, Inc. | Monticello Banking Company |
| Sep 9, 2002 | Bank of Monte Vista | Sunflower Bank, N.A. |
| Sep 7, 2002 | First Bank of Apache | Shamrock Bank, N.A. |
| Sep 7, 2002 | Area Bancshares Support Services | Truist Bank |
| Sep 7, 2002 | Peoples Financial Corp., Inc. | S&T Bancorp, Inc. |
| Sep 7, 2002 | Clayton State Bank | Shamrock Bank, N.A. |
| Sep 7, 2002 | PFC Bank | S & T Bank |
| Sep 7, 2002 | The American National Bank of Kimball | Points West Community Bank |
| Sep 4, 2002 | Palm Beach National Holding Company | The Colonial Bancgroup, Inc. |
| Sep 3, 2002 | S.M.W. Local 110 Federal Credit Union | Beacon Community Credit Union |
| Sep 1, 2002 | Gulf West Banks, Inc. | The South Financial Group, Inc. |
| Sep 1, 2002 | United Trades Federal Credit Union | Act 1st Federal Credit Union |
| Sep 1, 2002 | Texaco Houston Credit Union | Chevron Federal Credit Union |
| Sep 1, 2002 | B M a Credit Union | Central Communications Credit Union |
| Sep 1, 2002 | Northside of San Antonio Federal Credit Union | Generations Community Federal Credit Union |
| Sep 1, 2002 | American Automobile Association Employees Federal Credit Union | Gte Federal Credit Union dba Gte Financial |
| Sep 1, 2002 | Journal Star Employees Credit Union | Peoples Choice Federal Credit Union |
| Sep 1, 2002 | Alliance Credit Union | The Family Credit Union |
| Sep 1, 2002 | Columbia Federal Credit Union | State Employees Credit Union of Maryland Inc. |
| Sep 1, 2002 | Copes Vulcan Federal Credit Union | Tri State Rail Federal Credit Union |
| Sep 1, 2002 | Southington Savings Bank | TD Bank, N.A. |
| Sep 1, 2002 | Paradigm Bank Texas | Prosperity Bank |
| Sep 1, 2002 | Rockwell Pittsburgh Federal Credit Union | Frick Financial Federal Credit Union |
| Sep 1, 2002 | Mercantile Bank | Mercantile Bank |
| Sep 1, 2002 | Orco Federal Credit Union | Health Care Family Credit Union |
| Sep 1, 2002 | KCS Employee of Shreveport Credit Union | Barksdale Federal Credit Union |
| Aug 31, 2002 | Peoples Federal Savings and Loan Association | First Federal Bank |
| Aug 31, 2002 | C&D Conyers Federal Credit Union | On the Grid Financial Federal Credit Union |
| Aug 27, 2002 | EFS Federal Savings Bank | Concord Efs National Bank |
| Aug 26, 2002 | Orangeville Community Bank | Community Bank |
| Aug 24, 2002 | The First National Bank of Amarillo | Wells Fargo Bank Texas, National Association |
| Aug 24, 2002 | Southeast Security Bank | Two Rivers Bank & Trust |
| Aug 24, 2002 | Marathon Bancorp | PacWest Bancorp |
| Aug 24, 2002 | Marathon National Bank | Banc of California |
| Aug 24, 2002 | First Fidelity Investment & Loan | Hawthorne Savings, F.S.B. |
| Aug 24, 2002 | Hamilton Savings Bank | Oritani Bank |
| Aug 24, 2002 | Vista Bank, National Association | United Trust Bank |
| Aug 23, 2002 | Merchants State Bank of Lewisville | Farmers State Bank of Madelia, Incorporated |
| Aug 23, 2002 | Upland Bank | Banc of California |
| Aug 22, 2002 | Bank One, Colorado, National Association | Bank One, National Association |
| Aug 22, 2002 | Bank One, Wisconsin | Bank One, National Association |
| Aug 22, 2002 | Goosepond Industrial Credit Union | Winsouth Credit Union |
| Aug 22, 2002 | Bank One, Indiana, National Association | Bank One, National Association |
| Aug 21, 2002 | Charter-Michigan Bancorp, Inc. | Charter One Financial, Inc. |
| Aug 21, 2002 | Vista Bancorp, Inc. | United National Bancorp |
| Aug 19, 2002 | Midwest Bank of Mc Henry County | Midwest Bank and Trust Company |
| Aug 19, 2002 | midwest Bank of Hinsdale | Midwest Bank and Trust Company |
| Aug 17, 2002 | Texas Star Federal Credit Union | J S C Federal Credit Union |
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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