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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 1, 2002 United Community Bank Rabun County GA United Community Bank
Dec 1, 2002 United Community Bank Metro GA United Community Bank
Dec 1, 2002 Security Acadia Bancshares, Inc. LA Financial Corporation of Louisiana
Dec 1, 2002 American Pioneer Federal Credit Union PA Viriva Community Credit Union
Dec 1, 2002 The State Credit Union NJ Credit Union of New Jersey
Dec 1, 2002 The Gardena Friendly Federal Credit Union CA Northrop Grumman Federal Credit Union
Dec 1, 2002 American Bank National Association LA American Horizons Bank
Dec 1, 2002 Bank of Greenville WV First Community Bank
Dec 1, 2002 United Community Bank Towns County GA United Community Bank
Dec 1, 2002 Erie Strayer Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2002 Sun Catholic Credit Union AZ Marisol Federal Credit Union
Dec 1, 2002 C P Works Employees Federal Credit Union PA Tri Boro Federal Credit Union
Dec 1, 2002 United Community Bank White County GA United Community Bank
Dec 1, 2002 United Communitiy Bank Dawson County GA United Community Bank
Dec 1, 2002 The Industrial Bank of Japan Trust Company NY Mizuho Bank (USA)
Nov 30, 2002 Fortress Bancshares, Inc. WI Merchants Merger Corp.
Nov 30, 2002 Cavalier Credit Union ND North Star Community Credit Union
Nov 29, 2002 South Gasconade Investment Corporation MO Linn Holding Company
Nov 26, 2002 Frontier State Bank AZ National Bank of Arizona
Nov 25, 2002 Ebc Employees Credit Union VT Vermont Federal Credit Union
Nov 23, 2002 Palmyra Savings MO First Federal Bank
Nov 23, 2002 Blue River Federal Savings Bank IN Salin Bank and Trust Company
Nov 22, 2002 Eastern Bank & Trust MA Eastern Bank
Nov 20, 2002 White Gold Credit Union GA Georgia Guard Credit Union
Nov 18, 2002 Texas Country Bank TX Texas State Bank
Nov 18, 2002 San Juan Delaware Financial Corporation DE BBVA Compass Bancshares, Inc.
Nov 18, 2002 San Juan Bancshares, Inc. TX BBVA Compass Bancshares, Inc.
Nov 17, 2002 Centennial Bank OR Columbia Bank
Nov 16, 2002 Columbus FSB NE BankFirst
Nov 16, 2002 Centennial Bancorp OR Umpqua Holdings Corporation
Nov 16, 2002 The Corning Bank AR First National Bank
Nov 16, 2002 TrustCo Bank, National Association NY TrustCo Bank
Nov 16, 2002 Security State Bank of Deer Creek MN Wadena State Bank
Nov 15, 2002 CF Glass Employees Federal Credit Union RI Navigant Credit Union
Nov 15, 2002 (unnamed) — First National Bank
Nov 15, 2002 National Bank of Hastings MI Sand Ridge Bank
Nov 15, 2002 The Bright National Bank IN Sand Ridge Bank
Nov 14, 2002 First State Bank of Donalsonville GA First State Bank of Blakely
Nov 13, 2002 California Federal Bank CA West, National Association
Nov 13, 2002 Bank of the Northwest OR Pacific Northwest Bank
Nov 12, 2002 Texas Asset Acquisition Corporation TX Bank One, National Association
Nov 9, 2002 The Morrill State Bank & Trust Co. KS Bank of Blue Valley
Nov 9, 2002 Bank of Tanglewood, National Association TX Bank of Texas. National Association
Nov 9, 2002 First South Bank FL Truist Bank
Nov 9, 2002 Cayuga Bank NY First Niagara Bank, N.A.
Nov 9, 2002 21st Century Bank MN 21st Century Bank
Nov 9, 2002 First National Bank of Onaga KS Bank of Blue Valley
Nov 9, 2002 Cortland Savings Bank NY First Niagara Bank, N.A.
Nov 8, 2002 Metropolitan National Bank OH First National Bank of Pennsylvania
Nov 8, 2002 American National Bank and Trust Company of Chicago IL Bank One, National Association

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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