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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 28, 2002 The Waverly Building and Loan Company OH American Savings Bank, FSB
Jun 28, 2002 Pendleton Federal Savings Bank KY United Midwest Savings Bank, N.A.
Jun 25, 2002 Preferred Bancshares, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Community First Properties, Inc. ND Community First Bankshares, Inc.
Jun 25, 2002 R.O.M. Financial Services, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Oakley Holding Company MN Klein Financial, Inc.
Jun 22, 2002 Jefferson Heritage Bank TX Union Planters Bank, National Association
Jun 22, 2002 Kerman State Bank CA Westamerica Bank
Jun 22, 2002 First State Bank of Fort Collins CO First Main Street Bank, National Association
Jun 22, 2002 Caroline Savings Bank VA Virginia Heartland Bank
Jun 21, 2002 Bank One, Michigan MI Bank One, National Association
Jun 21, 2002 Community Bank KS Astra Bank
Jun 20, 2002 Metropolitan Bancshares, Inc. TN First Citizens Bancshares, Inc.
Jun 19, 2002 Newport Federal Savings Bank AR Iberiabank FSB
Jun 19, 2002 First Trust Bank of Shelbyville IL Main Street Bank & Trust
Jun 18, 2002 Independence Bank NC Bank of North Carolina
Jun 17, 2002 (unnamed) — Sabine State Bank and Trust Company
Jun 15, 2002 First State Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 The First National Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 First American Bank IA First American Bank
Jun 15, 2002 Associated Bank Minnesota MN Associated Bank Minnesota, National Association
Jun 15, 2002 Signal Bank South National Association MN Associated Bank Minnesota, National Association
Jun 15, 2002 Bank of Santa Fe, National Association NM Wells Fargo Bank New Mexico, National Association
Jun 14, 2002 Arvest Bank AR Arvest Bank
Jun 10, 2002 The Bancorp, Inc. WI The Baraboo Bancorporation, Inc.
Jun 10, 2002 Norkitt Bancorp, Inc. MN Marshall BankFirst Corporation
Jun 10, 2002 Wauneta Falls Bancorp, Inc. NE First Express of Nebraska, Inc.
Jun 7, 2002 Peoples Bank of Tompkinsville KY Edmonton State Bank
Jun 3, 2002 Rogers Park Safe Deposit Company IL The First Commercial Bank
Jun 3, 2002 Hercules Covington Employees Credit Union VA Jackson River Community Credit Union
Jun 3, 2002 Knottsville Credit Union KY Green River Area Federal Credit Union
Jun 3, 2002 Snowbird Employees Credit Union UT Utah First Federal Credit Union
Jun 1, 2002 Tehama Bank CA Humboldt Bank
Jun 1, 2002 Mercer County (Pa) United States Employees Federal Cu PA Pennstar Federal Credit Union
Jun 1, 2002 Educators Credit Union CO Power Credit Union
Jun 1, 2002 Super Chief Credit Union KS Envista Federal Credit Union
Jun 1, 2002 Menahga Co-Op Federal Credit Union MN Trustar Federal Credit Union
Jun 1, 2002 Hilton Davis Employees Federal Credit Union OH Kemba Credit Union, Inc.
Jun 1, 2002 Peoples Bank AR Iberiabank FSB
Jun 1, 2002 G N B Employees Credit Union IL Credit Union 1
Jun 1, 2002 West Central Illinois Credit Union IL Heritage Credit Union
Jun 1, 2002 Swanson Employees Federal Credit Union PA Widget Federal Credit Union
Jun 1, 2002 Firth Sterling Credit Union PA Parkview Community Federal Credit Union
Jun 1, 2002 The Morris Plan Savings Bank, Inc., SSB NC Randolph Bank & Trust Company
Jun 1, 2002 Mobile County Bank AL Century Bank
Jun 1, 2002 Snake River Teachers Credit Union ID Members Preferred Credit Union
Jun 1, 2002 Rocky Ford Federal Savings and Loan Association of Colorado CO Community Banks of Southern Colorado
Jun 1, 2002 Richfield Bank & Trust Co. MN M&I Marshall and Ilsley Bank
Jun 1, 2002 Lubbock Federal Credit Union TX Alliance Credit Union
Jun 1, 2002 Connecticut Family Credit Union, Inc. CT First Bristol 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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