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 |
|---|---|---|
| Oct 5, 2002 | Lincoln Savings and Loan Association | First Federal Savings Bank of Ironton |
| Oct 5, 2002 | Grafton State Bank | Heartland Bank |
| Oct 5, 2002 | Union Bank and Trust Company of Indiana | MainSource Bank |
| Oct 2, 2002 | Southwest Bank Holding Company | Prosperity Bancshares, Inc. |
| Oct 2, 2002 | Gateway American Bancshares, Inc. | P.C.B. Bancorp, Inc. |
| Oct 2, 2002 | First Community Industrial Bank | First Community Bank |
| Oct 1, 2002 | Portage Credit Union | Summit Credit Union |
| Oct 1, 2002 | Fort Hamilton Credit Union, Inc. | Cinco Family Financial Center Credit Union |
| Oct 1, 2002 | Cergro Employees Credit Union | Numark Credit Union |
| Oct 1, 2002 | Madison Police Credit Union | Madison Credit Union |
| Oct 1, 2002 | (unnamed) | Arkansas County Bank |
| Oct 1, 2002 | First State Bank of Nebraska | Heartland Community Bank |
| Oct 1, 2002 | Three Rivers Bancorp, Inc | SKY Financial Group, Inc. |
| Oct 1, 2002 | Harbor Bank, National Association | Venture Bank |
| Oct 1, 2002 | Lenders Federal Credit Union | Garden State Federal Credit Union |
| Oct 1, 2002 | Capital Bancshares, Inc. | Johnson Financial Group, Inc. |
| Oct 1, 2002 | Capital Bank | Johnson Bank |
| Oct 1, 2002 | Banc One Services Corporation | Bank One, National Association |
| Oct 1, 2002 | Anderson Post Office Credit Union | Madison County Federal Credit Union |
| Oct 1, 2002 | C B Financial Corp. | First Citizens Bancorporation, Inc. |
| Oct 1, 2002 | Mississippi Valley Bancshares, Inc. | M&I LLC |
| Oct 1, 2002 | Nicom Credit Union | Alero Financial Credit Union |
| Oct 1, 2002 | Fox Employees Credit Union | S D C Employees Credit Union |
| Oct 1, 2002 | Bowling Green Federal Employees Federal Credit Union | Service One Credit Union, Inc. |
| Oct 1, 2002 | Mile High Turkey Federal Credit Union | Premier Members Federal Credit Union |
| Oct 1, 2002 | Transit Credit Union, Inc. | C & O United Credit Union |
| Oct 1, 2002 | U P & L Ogden Credit Union | Utah Power Credit Union |
| Oct 1, 2002 | Wreco Federal Credit Union | Midwest Members Credit Union |
| Oct 1, 2002 | R W C Employees Credit Union | Sunrise Family Credit Union |
| Oct 1, 2002 | Ottumwa Railroad Employees Credit Union | River Community Credit Union |
| Oct 1, 2002 | Western Kraft Employees Federal Credit Union | Red Canoe Credit Union |
| Oct 1, 2002 | Ocean City Employees Federal Credit Union | First Harvest Federal Credit Union |
| Sep 30, 2002 | Harbor Credit Union, Inc. | Buckeye State Credit Union, Inc. |
| Sep 30, 2002 | Community Advantage Federal Credit Union | Dupont Community Credit Union |
| Sep 30, 2002 | The First National Bank of Otis | Colorado Community Bank |
| Sep 30, 2002 | Akron E O G Federal Credit Union | Dominion Energy Credit Union |
| Sep 30, 2002 | Verdugo Hills Postal Federal Credit Union | North Hollywood Federal Credit Union |
| Sep 28, 2002 | The Wymore State Bank | Pinnacle Bank |
| Sep 28, 2002 | Marquette Trust Company of South Dakota, N.A. | Wells Fargo Bank South Dakota, N.A. |
| Sep 27, 2002 | Calvin B. Taylor Bank of Delaware | Calvin B. Taylor Banking Company of Berlin, Maryland |
| Sep 25, 2002 | Northern Plains Investment, Inc. | North Star Holding Company, Inc. |
| Sep 23, 2002 | South Plains Financial Services, Inc. | South Plains Delaware Financial Corporation |
| Sep 21, 2002 | Hamel State Bank | The First National Bank in Staunton |
| Sep 21, 2002 | The Pavilion State Bank | National Bank of Geneva |
| Sep 19, 2002 | The Findlay Savings Bank | Foundation Bank |
| Sep 16, 2002 | Illinois Police Federation Federal Credit Union | Metro Federal Credit Union |
| Sep 14, 2002 | The Midway National Bank of St. Paul | American Bank of St. Paul |
| Sep 14, 2002 | Massachusetts Co-operative Bank | Abington Savings Bank |
| Sep 14, 2002 | Bank of Louisville | Truist Bank |
| Sep 13, 2002 | Prestige Bank, A Federal Savings Bank | Northwest 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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