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 | Assets |
|---|---|---|
| Dec 17, 2002 | The Farmers Bank & Trust of Cheneyville | $35.3M |
| Nov 8, 2002 | Bank of Alamo | $58.5M |
| Sep 30, 2002 | Amtrade International Bank of Georgia | $92.1M |
| Jun 27, 2002 | Universal FSB | $51.6M |
| Jun 26, 2002 | Connecticut Bank of Commerce | $384.2M |
| Mar 28, 2002 | New Century Bank | $21.1M |
| Mar 1, 2002 | Net First National Bank | $37.2M |
| Feb 7, 2002 | Nextbank | $700.2M |
| Feb 1, 2002 | Oakwood Deposit Bank | $72.3M |
| Jan 18, 2002 | Bank of Sierra Blanca | $10.8M |
| Jan 11, 2002 | Hamilton Bank, N.A. | $1.41B |
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 | Acquirer |
|---|---|---|
| Nov 8, 2002 | Bank One, Illinois, National Association | Bank One, National Association |
| Nov 6, 2002 | Buckeye International Employees Credit Union, Inc. | First Service Federal Credit Union |
| Nov 6, 2002 | U.S. National Bank | Local Oklahoma Bank |
| Nov 1, 2002 | USABANCSHARES.COM, Inc | Nova Financial Holdings, Inc |
| Nov 1, 2002 | Cba Bancshares, Inc. | Marquette Financial Companies |
| Nov 1, 2002 | Gold Trust Company | Gold Trust Company |
| Nov 1, 2002 | First National Bank of Bay City | Prosperity Bank |
| Nov 1, 2002 | Rock Hill Bank & Trust | Carolina First Bank |
| Nov 1, 2002 | Valencia Bank & Trust | MUFG Union Bank, National Association |
| Nov 1, 2002 | Birch Run Area Credit Union | Great Lakes Federal Credit Union |
| Nov 1, 2002 | Pascagoula City Employees Federal Credit Union | Singing River Federal Credit Union |
| Nov 1, 2002 | Saint Pius Tenth Federal Credit Union | Space Age Credit Union |
| Nov 1, 2002 | Regional Health Care Federal Credit Union | United Southeast Federal Credit Union |
| Nov 1, 2002 | New Horizons Federal Credit Union | Northwest Arkansas Federal Credit Union |
| Nov 1, 2002 | Newnan Canco Employees Federal Credit Union | Coweta Cities & County Employees Federal Credit Union |
| Nov 1, 2002 | Texas Gas Employees Credit Union | Transcend Credit Union |
| Nov 1, 2002 | Mid-Continent Federal Credit Union | Heritage USA Federal Credit Union |
| Nov 1, 2002 | Razorback Federal Credit Union | Northwest Arkansas Federal Credit Union |
| Nov 1, 2002 | Fontaine Employees Federal Credit Union | Southern Energy Credit Union |
| Nov 1, 2002 | Indiana County Pennsylvania School Employees Federal Credit Union | Pennsylvania State Employees Credit Union dba Psecu |
| Nov 1, 2002 | The Citizens National Bank & Trust Co. | Kanza Bank |
| Nov 1, 2002 | Hotchkiss Community Federal Credit Union | Delta County Federal Credit Union |
| Nov 1, 2002 | Southern Oklahoma Federal Credit Union | Communication Federal Credit Union |
| Nov 1, 2002 | Steelcase of California Employee Federal Credit Union | Wescom Central Credit Union |
| Nov 1, 2002 | Westop Credit Union | Sound Credit Union |
| Oct 31, 2002 | Heritage Bancshares, Inc. | Piper Holdings, Inc. |
| Oct 31, 2002 | Biggsville Financial Corporation | Herky Hawk Financial Corp. |
| Oct 29, 2002 | Bank of Canton of California | United Commercial Bank |
| Oct 28, 2002 | Security State Bank | Central Bank |
| Oct 28, 2002 | First Security Banshares, Inc. | Central Bank |
| Oct 26, 2002 | Fidelity Federal Bank, a Federal Savings Bank | California National Bank |
| Oct 26, 2002 | Three Rivers Bank and Trust Company | SKY Bank |
| Oct 25, 2002 | First State Bank of Fort Benton | First Security Bank |
| Oct 25, 2002 | State Bank of Jefferson County | Allegiant Bank |
| Oct 19, 2002 | Heritage Bank, National Association | Heritage Bank |
| Oct 19, 2002 | Pulaski Savings Bank | Kearny Bank |
| Oct 18, 2002 | Cerro Gordo Building and Loan, S.B. | State Bank of Cerro Gordo |
| Oct 18, 2002 | Palm Beach National Bank & Trust Company | Colonial Bank |
| Oct 17, 2002 | Southern Credit Services, Inc. | Southern Community Bank and Trust |
| Oct 16, 2002 | Medford Bancorp, Inc. | Citizens Financial Group, Inc. |
| Oct 16, 2002 | Medford Savings Bank | Citizens Bank of Massachusetts |
| Oct 15, 2002 | Southwest Bank | First Commonwealth Bank |
| Oct 12, 2002 | American Bank | The Home State Bank |
| Oct 12, 2002 | 541 Investment Co. | The Home State Bank |
| Oct 10, 2002 | (unnamed) | Gateway Business Bank |
| Oct 10, 2002 | Greenfield Printers Credit Union, Inc. | Homeland Credit Union, Inc. |
| Oct 9, 2002 | Lockheed Martin Fairchild Systems Federal Credit Union | Fourleaf Federal Credit Union |
| Oct 9, 2002 | Fordham Federal Credit Union | Academic Federal Credit Union |
| Oct 7, 2002 | Crest Bancorp, Inc. | Piper Bankshares, Inc. |
| Oct 7, 2002 | Roberts State Bank | Vermilion Valley 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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