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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 1, 2002 Security State Bank IA United Community Bank
Jun 1, 2002 Interstate Publishers Employees Credit Union IL Danville Bell Credit Union
Jun 1, 2002 Grand Bancorp, Inc. AL Bancorp of Lucedale, Inc.
Jun 1, 2002 K. Roberts, Inc. MN Northwestern Bancshares, Inc.
Jun 1, 2002 Century Bank, National Association MN M&I Marshall and Ilsley Bank
Jun 1, 2002 American Community Bank of Georgia GA First National Bank of Griffin
Jun 1, 2002 Security First Network Bank GA RBC Bank (USA)
Jun 1, 2002 Capitol Valley Bank CA Humboldt Bank
May 31, 2002 Alice City Employees Federal Credit Union TX Gulf Coast Federal Credit Union
May 31, 2002 SBC Financial Corporation NY The Oneida Savings Bank
May 31, 2002 First Superior Credit Union WI Unitedone Credit Union
May 29, 2002 Alcoa Federal Credit Union IN Health Care Professionals Federal Credit Union
May 28, 2002 Charter National Bancorp, Inc. MI Charter-Michigan Bancorp, Inc.
May 28, 2002 True Blue Federal Credit Union WV West Virginia Federal Credit Union
May 25, 2002 Palomar Community Bank CA 1st Centennial Bank
May 23, 2002 Thomson Investment Company, Inc. IL Savanna-Thomson Investment, Inc.
May 23, 2002 Savanna State Bank IL Fidelity Bank
May 21, 2002 Erie Concrete Steel Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
May 21, 2002 Omega City Holding Company ND First Financial Corporation
May 18, 2002 Citizens Bank and Trust Company MS The Citizens Bank of Philadelphia
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Charter One Commercial NY Charter One Bank, National Association
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Independence Bank, National Association TX Regions Bank
May 17, 2002 Arvest Bank OK Arvest Bank
May 16, 2002 Prices Employees Federal Credit Union TX Mountain Star Federal Credit Union
May 16, 2002 I S E a Credit Union IA Greater Iowa Credit Union
May 15, 2002 The Bank of Parrish AL First National Bank
May 15, 2002 CPR — Credit Agricole Corporate and Investment Bank
May 15, 2002 Harbor Japanese Credit Union CA Jacom Credit Union
May 14, 2002 First Western Bank CA MUFG Union Bank, National Association
May 11, 2002 Community First Bank GA Truist Bank
May 10, 2002 The Bank of St. Charles County MO Allegiant Bank
May 9, 2002 Starpoint Central School Federal Credit Union NY Niagara Regional Federal Credit Union
May 9, 2002 The Yonkers Savings and Loan Association, F.A. NY Atlantic Bank of New York
May 9, 2002 Texas Guaranty Bank, National Association TX Prosperity Bank
May 6, 2002 FNB-Southwest, National Association VA FNB Salem Bank and Trust, National Association
May 6, 2002 FNB Mortgage Company CO First Main Street Bank, National Association
May 2, 2002 Williamstown Mutual Holding Company MA Mountainone Financial, MHC
May 1, 2002 Bank of Avoca NY Bath National Bank
May 1, 2002 Coastal Commerce Bankshares, Inc. LA Kaplan State Bank
May 1, 2002 Cushman Federal Credit Union NE Lincone Federal Credit Union
May 1, 2002 Freedom Area Schools Federal Credit Union PA Freedom United Federal Credit Union
May 1, 2002 Ampco Credit Union WI Guardian Credit Union
May 1, 2002 Michigan Railroaders Credit Union MI South Central Credit Union
May 1, 2002 Christ Hospital Federal Credit Union NJ Healthcare Employees Federal Credit Union
May 1, 2002 LTV Steel Employees Federal Credit Union IN Tech Credit Union
May 1, 2002 Allied Van Lines Employees Credit Union IL Credit Union 1
May 1, 2002 Metro East Credit Union IL Scott Credit Union
May 1, 2002 Apa Federal Credit Union DC Signal Financial 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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