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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
Jul 13, 2002 Marquette Bank Morrison IL Wells Fargo Bank Illinois, National Association
Jul 13, 2002 Marquette Bank Monmouth IL Wells Fargo Bank Illinois, National Association
Jul 13, 2002 Marquette Bank, National Association MN Wells Fargo Bank Minnesota, National Association
Jul 12, 2002 Brookhollow National Bank TX Regions Bank
Jul 12, 2002 The First State Bank TX Prosperity Bank
Jul 11, 2002 The Bank of Perry KS First State Bank and Trust
Jul 11, 2002 Rowan-Iredell Area Credit Union NC First Legacy Community Credit Union
Jul 10, 2002 Ventura Texaco Employees Federal Credit Union CA Ventura County Credit Union
Jul 10, 2002 Shawnee Bancshares, Inc. IL First Southern Bancshares, Inc
Jul 10, 2002 Advance Stamping Company Federal Credit Union MI Parkway Federal Credit Union
Jul 8, 2002 The Beatrice National Bank and Trust Company NE Pinnacle Bank
Jul 5, 2002 Norton Federal Credit Union TX Valley Federal Credit Union
Jul 1, 2002 Cerritos Valley Bancorp CA Cerritos Valley Bank
Jul 1, 2002 Credit Carimonte S.P.A. — Unicredit S.P.A.
Jul 1, 2002 F & M Community Bank, N.A. MN F & M Community Bank, N.A.
Jul 1, 2002 Advance Acceptance Corporation MN First Western Bank and Trust
Jul 1, 2002 Ridgeway Bancshares, Inc. SC Community Bankshares, Inc.
Jul 1, 2002 Data Fac Computer Company, Inc. OK Bank of Commerce
Jul 1, 2002 Middlesex Bank & Trust Company MA Connecticut Community Bank, N.A.
Jul 1, 2002 Household Bank (Nevada), N.A. NV HSBC Bank Nevada, N.A.
Jul 1, 2002 Rolo Banca 1473 S.P.A. — Unicredit S.P.A.
Jul 1, 2002 Beneficial National Bank USA DE HSBC Bank Nevada, N.A.
Jul 1, 2002 East Point Municipal Employees Credit Union GA Fort McPherson Credit Union
Jul 1, 2002 Garfield Credit Union UT Transwest Credit Union
Jul 1, 2002 First Community Credit Union of Marinette WI Forward Financial Credit Union
Jul 1, 2002 Southeast Florida Credit Union FL Ithink Financial Credit Union
Jul 1, 2002 Columbia Hospital for Women Federal Credit Union DC Democracy Federal Credit Union
Jul 1, 2002 Motion Control Industries Federal Credit Union PA Penntech Employees Federal Credit Union
Jul 1, 2002 Progressive Credit Union IL Credit Union 1
Jul 1, 2002 Arrowhead Cooperative Credit Union MN Members Cooperative Credit Union
Jul 1, 2002 Roosevelt County School Employee Credit Union NM First Financial Credit Union
Jul 1, 2002 Northwest Indiana Medical Federal Credit Union IN Northern Indiana Federal Credit Union
Jul 1, 2002 Ryco Federal Credit Union MT Rimrock Credit Union
Jul 1, 2002 First Commercial Bank of Southeast Missouri MO First Commercial Bank
Jul 1, 2002 Blessed Sacrament Federal Credit Union MA SJB Federal Credit Union
Jul 1, 2002 P. W. T. Federal Credit Union WA First Community Credit Union
Jul 1, 2002 Heco Federal Credit Union WA Tacoma Narrows Federal Credit Union
Jul 1, 2002 Warren State Hospital Employees Federal Credit Union PA N F G #2 Federal Credit Union
Jul 1, 2002 Kenosha Catholic Community Credit Union WI Educators Credit Union
Jun 30, 2002 Local 648 Hamilton Federal Credit Union OH Chaco Credit Union, Inc.
Jun 30, 2002 Landmark Bancshares of Oklahoma, Inc MO Landrum Company
Jun 30, 2002 Landmark Bancshares of Texas, Inc. MO Landrum Company
Jun 30, 2002 Jack's Fork Bancorporation, Inc. MO Landrum Company
Jun 30, 2002 Durham Municipal Credit Union NC Members Credit Union
Jun 30, 2002 PRR Conemaugh Federal Credit Union PA Merho Federal Credit Union
Jun 29, 2002 Western Security Finance Corporation CA Citizens Business Bank, N.A.
Jun 29, 2002 Western Security Acceptance Corporation CA Citizens Business Bank, N.A.
Jun 29, 2002 Western Security Bank, National Association CA Citizens Business Bank, N.A.
Jun 28, 2002 Winterset State Bank MO Central Bank of Kansas City
Jun 28, 2002 Citizens State Bank of Gaylord MN Progrowth 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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