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 |
|---|---|---|
| Sep 13, 2002 | Eagle National Bank | Sterling Bank |
| Sep 11, 2002 | First National Bank | First National Bank |
| Sep 9, 2002 | Bank of Clinton County, Inc. | Monticello Banking Company |
| Sep 9, 2002 | Bank of Monte Vista | Sunflower Bank, N.A. |
| Sep 7, 2002 | First Bank of Apache | Shamrock Bank, N.A. |
| Sep 7, 2002 | Area Bancshares Support Services | Truist Bank |
| Sep 7, 2002 | Peoples Financial Corp., Inc. | S&T Bancorp, Inc. |
| Sep 7, 2002 | Clayton State Bank | Shamrock Bank, N.A. |
| Sep 7, 2002 | PFC Bank | S & T Bank |
| Sep 7, 2002 | The American National Bank of Kimball | Points West Community Bank |
| Sep 4, 2002 | Palm Beach National Holding Company | The Colonial Bancgroup, Inc. |
| Sep 3, 2002 | S.M.W. Local 110 Federal Credit Union | Beacon Community Credit Union |
| Sep 1, 2002 | Gulf West Banks, Inc. | The South Financial Group, Inc. |
| Sep 1, 2002 | United Trades Federal Credit Union | Act 1st Federal Credit Union |
| Sep 1, 2002 | Texaco Houston Credit Union | Chevron Federal Credit Union |
| Sep 1, 2002 | B M a Credit Union | Central Communications Credit Union |
| Sep 1, 2002 | Northside of San Antonio Federal Credit Union | Generations Community Federal Credit Union |
| Sep 1, 2002 | American Automobile Association Employees Federal Credit Union | Gte Federal Credit Union dba Gte Financial |
| Sep 1, 2002 | Journal Star Employees Credit Union | Peoples Choice Federal Credit Union |
| Sep 1, 2002 | Alliance Credit Union | The Family Credit Union |
| Sep 1, 2002 | Columbia Federal Credit Union | State Employees Credit Union of Maryland Inc. |
| Sep 1, 2002 | Copes Vulcan Federal Credit Union | Tri State Rail Federal Credit Union |
| Sep 1, 2002 | Southington Savings Bank | TD Bank, N.A. |
| Sep 1, 2002 | Paradigm Bank Texas | Prosperity Bank |
| Sep 1, 2002 | Rockwell Pittsburgh Federal Credit Union | Frick Financial Federal Credit Union |
| Sep 1, 2002 | Mercantile Bank | Mercantile Bank |
| Sep 1, 2002 | Orco Federal Credit Union | Health Care Family Credit Union |
| Sep 1, 2002 | KCS Employee of Shreveport Credit Union | Barksdale Federal Credit Union |
| Aug 31, 2002 | Peoples Federal Savings and Loan Association | First Federal Bank |
| Aug 31, 2002 | C&D Conyers Federal Credit Union | On the Grid Financial Federal Credit Union |
| Aug 27, 2002 | EFS Federal Savings Bank | Concord Efs National Bank |
| Aug 26, 2002 | Orangeville Community Bank | Community Bank |
| Aug 24, 2002 | The First National Bank of Amarillo | Wells Fargo Bank Texas, National Association |
| Aug 24, 2002 | Southeast Security Bank | Two Rivers Bank & Trust |
| Aug 24, 2002 | Marathon Bancorp | PacWest Bancorp |
| Aug 24, 2002 | Marathon National Bank | Banc of California |
| Aug 24, 2002 | First Fidelity Investment & Loan | Hawthorne Savings, F.S.B. |
| Aug 24, 2002 | Hamilton Savings Bank | Oritani Bank |
| Aug 24, 2002 | Vista Bank, National Association | United Trust Bank |
| Aug 23, 2002 | Merchants State Bank of Lewisville | Farmers State Bank of Madelia, Incorporated |
| Aug 23, 2002 | Upland Bank | Banc of California |
| Aug 22, 2002 | Bank One, Colorado, National Association | Bank One, National Association |
| Aug 22, 2002 | Bank One, Wisconsin | Bank One, National Association |
| Aug 22, 2002 | Goosepond Industrial Credit Union | Winsouth Credit Union |
| Aug 22, 2002 | Bank One, Indiana, National Association | Bank One, National Association |
| Aug 21, 2002 | Charter-Michigan Bancorp, Inc. | Charter One Financial, Inc. |
| Aug 21, 2002 | Vista Bancorp, Inc. | United National Bancorp |
| Aug 19, 2002 | Midwest Bank of Mc Henry County | Midwest Bank and Trust Company |
| Aug 19, 2002 | midwest Bank of Hinsdale | Midwest Bank and Trust Company |
| Aug 17, 2002 | Texas Star Federal Credit Union | J S C Federal Credit Union |
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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