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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 31, 2002 Usb, Inc. WI Fifth Third Bank, N.A.
Dec 31, 2002 FSB Acquisition Corp. KY First State Bancshares, Inc.
Dec 31, 2002 Liberty Bancorp, MHC NJ NSB Holding Corp.
Dec 31, 2002 First Savings and Loan Association of America, a Federal Savings Association GU Bank of Hawaii
Dec 31, 2002 Liberty Bank NJ Northfield Bank
Dec 31, 2002 Banco Di Napoli S.P.A. — Sanpaolo Imi S.P.A.
Dec 31, 2002 First Banks America, Inc. CA FB Corporation
Dec 31, 2002 Union Financial Group LTD MO The San Francisco Company
Dec 31, 2002 First Pennsylvania Savings Association PA Fidelity Savings Bank
Dec 30, 2002 UBS Inc. CT UBS Americas Inc.
Dec 28, 2002 Herkimer Trust Corporation, Inc. NY Partners Trust Bank
Dec 27, 2002 Washita Bancshares, Inc. OK Washita State Bank
Dec 26, 2002 Farmers Deposit Bancorp KY Premier Financial Bancorp, Inc.
Dec 26, 2002 Georgetown Bancorp, Inc. KY Premier Financial Bancorp, Inc.
Dec 25, 2002 Orange County Gardeners Credit Union CA Nikkei Credit Union
Dec 24, 2002 First Community National Bank IA Union Bank of Arizona, N.A.
Dec 20, 2002 First Missouri Bancorporation, Inc. MO Landrum Company
Dec 20, 2002 Las Animas County Teachers Federal Credit Union CO Power Credit Union
Dec 20, 2002 Community Bank - Excelsior Springs, A Savings Bank MO North American Savings Bank, FSB
Dec 19, 2002 Prime Bancshares, Inc. MN WFC Holdings, LLC
Dec 16, 2002 Frontier National Bank GA Frontier Bank
Dec 16, 2002 1st Choice Financial Corp. MN First Commerce Bancshares, Inc.
Dec 14, 2002 Peoples Bank KS Great Western Bank
Dec 14, 2002 Heartland Health Federal Credit Union MO Postal & Community Credit Union
Dec 14, 2002 Peoples Bank NM Peoples Bank
Dec 14, 2002 Banco Financiero de Puerto Rico PR Eurobank
Dec 13, 2002 Texas Bancshares, Inc. MN Wells Fargo & Company
Dec 13, 2002 Buffalo National Bancshares, Inc. MN Wells Fargo & Company
Dec 12, 2002 First National Bank of Johns Creek GA Main Street Bank
Dec 11, 2002 Local 144 S.E.I.U. Federal Credit Union NY I Am Federal Credit Union
Dec 10, 2002 Neisler Credit Union IL Staley Credit Union
Dec 9, 2002 State Bank of Wonewoc WI Baraboo State Bank
Dec 7, 2002 Mississippi Southern Bank MS State Bank & Trust Company
Dec 7, 2002 Kaneland Community Bank IL American Bank and Trust Company, N.A.
Dec 7, 2002 High Street Banking Company NC Capital Bank
Dec 7, 2002 West Burlington Bank IA Farmers & Merchants Bank & Trust
Dec 6, 2002 Embry Bank GA First Bank of the South
Dec 3, 2002 Wachovia Acquisition Corporation 2001-01 NC Wachovia Corporation
Dec 3, 2002 Heights State Bank TX Extraco Banks, N.A.
Dec 2, 2002 Port City Employees Federal Credit Union TX Baker Hughes Federal Credit Union
Dec 2, 2002 Harris Trust Company WA The Harris Bank National Association
Dec 2, 2002 Towne Bank OH Oak Hill Banks
Dec 2, 2002 Harris Trust Company of California CA The Harris Bank National Association
Dec 2, 2002 Pantagraph Printing Employees Credit Union IL Prairieland Federal Credit Union
Dec 2, 2002 Chicagoland Credit Union IL Illiana Financial Credit Union
Dec 1, 2002 United Community Bank North Georgia GA United Community Bank
Dec 1, 2002 High Street Corporation NC Capital Bank Corporation
Dec 1, 2002 Provident Investment Management Corporation OH The Provident Bank
Dec 1, 2002 Monroe Financial, Inc. WV First Community Bankshares, Inc.
Dec 1, 2002 United Community Bank West Georgia GA United Community Bank

The list holds 500 of the 786 mergers recorded for 2002.

Enforcement Actions in 2002

Action date Agency Institution Action
Apr 10, 2002 OCC Bay View Bank, N.A. Civil Money Penalty (CMP): Hakes, Donald W.
Apr 10, 2002 OCC Sequoia National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Sequoia National Bank
Apr 8, 2002 OCC FIA Card Services, N.A. Prohibition/Removal Orders: White, Lori S.
Apr 8, 2002 OCC North Cascades National Bank Formal Agreement: North Cascades National Bank
Apr 8, 2002 OCC Valley National Bank Prohibition/Removal Orders: Wilson, Hazel L.
Apr 8, 2002 OCC FIA Card Services, N.A. C&D or PC&D Requiring Restitution: White, Lori S.
Apr 3, 2002 OCC First National Bank in Georgetown Formal Agreement: First National Bank in Georgetown
Mar 28, 2002 OCC_OTS Greater South Texas Bank Cease and Desist: Greater South Texas Bank, FSB
Mar 27, 2002 OCC_OTS (individual) Cease and Desist: First SB, a FSB
Mar 27, 2002 OCC_OTS Algiers Bank & Trust Cease and Desist: Hugh E. Humphrey III
Mar 26, 2002 OCC Fidelity Bancorp, Inc. Formal Agreement: Fidelity National Bank
Mar 25, 2002 OCC_OTS Fidelity Homestead Association Orders of Removal/Prohibition: Terry W. Henley
Mar 22, 2002 OCC The Upstate National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Upstate National Bank
Mar 20, 2002 OCC Tuscola National Bank Formal Agreement: Tuscola National Bank
Mar 19, 2002 OCC First National Bank of Dublin Formal Agreement: First National Bank of Dublin
Mar 18, 2002 OCC First Suburban National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Price, Martin
Mar 18, 2002 OCC First Suburban National Bank Civil Money Penalty (CMP): Price, Martin
Mar 18, 2002 OCC Hiawatha National Bank Formal Agreement: Hiawatha National Bank
Mar 18, 2002 OCC (individual) Prohibition/Removal Orders: Medina, Jenny R.
Mar 14, 2002 OCC_OTS First Savings Bank Orders of Removal/Prohibition: Linda K. Bares
Mar 13, 2002 OCC_OTS Enterprise Federal Savings Bank Prompt Corrective Action: Enterprise FSB
Mar 13, 2002 OCC Parish National Corporation Prohibition/Removal Orders: Gorney, Paul
Mar 13, 2002 OCC Parish National Corporation Civil Money Penalty (CMP): Gorney, Paul
Mar 11, 2002 OCC Banco de Galicia Y Buenos Aires (Uruguay) S.A.I.F.E. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Banco de Galicia Y Buenos Aires …
Mar 6, 2002 FRB (individual) Prompt Corrective Action: New Century bank, Shelby Township, MI
Feb 28, 2002 OCC_OTS The Gordon Bank Supervisory Agreement: The Gordon Bank
Feb 22, 2002 OCC_OTS First Federal of the South Supervisory Agreement: First Federal of the South
Feb 21, 2002 OCC (individual) Formal Agreement: First National Bank
Feb 21, 2002 OCC Zions Bancorporation, N.A. Civil Money Penalty (CMP): Tullis, R. Matthew
Feb 21, 2002 OCC Zions Bancorporation, N.A. Prohibition/Removal Orders: Tullis, R. Matthew
Feb 20, 2002 OCC Nara Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Nara Bank, National Association
Feb 20, 2002 OCC_OTS Ben Franklin Bank of Illinois Orders of Removal/Prohibition: Roger E. Meyers
Feb 15, 2002 OCC_OTS (individual) Orders of Removal/Prohibition: Milledge G. Smith
Feb 12, 2002 OCC Delta National Bancorp Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Delta National Bank
Feb 11, 2002 OCC_OTS St. Edmond's Federal Savings Bank Supervisory Agreement: St. Edmond's FSB
Feb 8, 2002 OCC (individual) Prohibition/Removal Orders: Miller, Shawn N.
Feb 5, 2002 FRB MSB Shares, Inc. Written Agreement: MSB Shares, Inc., Jonesboro, AR and MidSouth Bank, Jonesboro, AR
Feb 1, 2002 OCC East Texas National Bank of Marshall Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Cavender, R. Stephen
Feb 1, 2002 OCC East Texas National Bank of Marshall Prohibition/Removal Orders: Cavender, R. Stephen
Feb 1, 2002 OCC East Texas National Bank of Marshall C&D or PC&D Requiring Restitution: Cavender, R. Stephen
Jan 31, 2002 OCC (individual) Prohibition/Removal Orders: O'Neil, Susan P.
Jan 28, 2002 OCC_OTS Hamilton Financial, Inc. Orders of Removal/Prohibition: Taura Pablo
Jan 25, 2002 OCC Guaranty National Bank of Tallahassee Formal Agreement: Guaranty National Bank of Tallahassee
Jan 22, 2002 OCC Seaway National Bank of Chicago Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Seaway National Bank Of Chicago
Jan 18, 2002 OCC BNY Mellon, N.A. Prohibition/Removal Orders: Wenger, Terri S.
Jan 18, 2002 OCC First National Bank of Lucedale Prohibition/Removal Orders: Ashley, Kelly Y.
Jan 18, 2002 OCC Carnegie Financial Corporation Prohibition/Removal Orders: Ponder, James E.
Jan 17, 2002 OCC Bank of China Civil Money Penalty (CMP): Bank of China
Jan 17, 2002 OCC Bank of China Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bank of China
Jan 17, 2002 OCC Bank of China Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bank of China

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