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 |
|---|---|---|
| Jul 13, 2002 | Marquette Bank Morrison | Wells Fargo Bank Illinois, National Association |
| Jul 13, 2002 | Marquette Bank Monmouth | Wells Fargo Bank Illinois, National Association |
| Jul 13, 2002 | Marquette Bank, National Association | Wells Fargo Bank Minnesota, National Association |
| Jul 12, 2002 | Brookhollow National Bank | Regions Bank |
| Jul 12, 2002 | The First State Bank | Prosperity Bank |
| Jul 11, 2002 | The Bank of Perry | First State Bank and Trust |
| Jul 11, 2002 | Rowan-Iredell Area Credit Union | First Legacy Community Credit Union |
| Jul 10, 2002 | Ventura Texaco Employees Federal Credit Union | Ventura County Credit Union |
| Jul 10, 2002 | Shawnee Bancshares, Inc. | First Southern Bancshares, Inc |
| Jul 10, 2002 | Advance Stamping Company Federal Credit Union | Parkway Federal Credit Union |
| Jul 8, 2002 | The Beatrice National Bank and Trust Company | Pinnacle Bank |
| Jul 5, 2002 | Norton Federal Credit Union | Valley Federal Credit Union |
| Jul 1, 2002 | Cerritos Valley Bancorp | Cerritos Valley Bank |
| Jul 1, 2002 | Credit Carimonte S.P.A. | Unicredit S.P.A. |
| Jul 1, 2002 | F & M Community Bank, N.A. | F & M Community Bank, N.A. |
| Jul 1, 2002 | Advance Acceptance Corporation | First Western Bank and Trust |
| Jul 1, 2002 | Ridgeway Bancshares, Inc. | Community Bankshares, Inc. |
| Jul 1, 2002 | Data Fac Computer Company, Inc. | Bank of Commerce |
| Jul 1, 2002 | Middlesex Bank & Trust Company | Connecticut Community Bank, N.A. |
| Jul 1, 2002 | Household Bank (Nevada), N.A. | HSBC Bank Nevada, N.A. |
| Jul 1, 2002 | Rolo Banca 1473 S.P.A. | Unicredit S.P.A. |
| Jul 1, 2002 | Beneficial National Bank USA | HSBC Bank Nevada, N.A. |
| Jul 1, 2002 | East Point Municipal Employees Credit Union | Fort McPherson Credit Union |
| Jul 1, 2002 | Garfield Credit Union | Transwest Credit Union |
| Jul 1, 2002 | First Community Credit Union of Marinette | Forward Financial Credit Union |
| Jul 1, 2002 | Southeast Florida Credit Union | Ithink Financial Credit Union |
| Jul 1, 2002 | Columbia Hospital for Women Federal Credit Union | Democracy Federal Credit Union |
| Jul 1, 2002 | Motion Control Industries Federal Credit Union | Penntech Employees Federal Credit Union |
| Jul 1, 2002 | Progressive Credit Union | Credit Union 1 |
| Jul 1, 2002 | Arrowhead Cooperative Credit Union | Members Cooperative Credit Union |
| Jul 1, 2002 | Roosevelt County School Employee Credit Union | First Financial Credit Union |
| Jul 1, 2002 | Northwest Indiana Medical Federal Credit Union | Northern Indiana Federal Credit Union |
| Jul 1, 2002 | Ryco Federal Credit Union | Rimrock Credit Union |
| Jul 1, 2002 | First Commercial Bank of Southeast Missouri | First Commercial Bank |
| Jul 1, 2002 | Blessed Sacrament Federal Credit Union | SJB Federal Credit Union |
| Jul 1, 2002 | P. W. T. Federal Credit Union | First Community Credit Union |
| Jul 1, 2002 | Heco Federal Credit Union | Tacoma Narrows Federal Credit Union |
| Jul 1, 2002 | Warren State Hospital Employees Federal Credit Union | N F G #2 Federal Credit Union |
| Jul 1, 2002 | Kenosha Catholic Community Credit Union | Educators Credit Union |
| Jun 30, 2002 | Local 648 Hamilton Federal Credit Union | Chaco Credit Union, Inc. |
| Jun 30, 2002 | Landmark Bancshares of Oklahoma, Inc | Landrum Company |
| Jun 30, 2002 | Landmark Bancshares of Texas, Inc. | Landrum Company |
| Jun 30, 2002 | Jack's Fork Bancorporation, Inc. | Landrum Company |
| Jun 30, 2002 | Durham Municipal Credit Union | Members Credit Union |
| Jun 30, 2002 | PRR Conemaugh Federal Credit Union | Merho Federal Credit Union |
| Jun 29, 2002 | Western Security Finance Corporation | Citizens Business Bank, N.A. |
| Jun 29, 2002 | Western Security Acceptance Corporation | Citizens Business Bank, N.A. |
| Jun 29, 2002 | Western Security Bank, National Association | Citizens Business Bank, N.A. |
| Jun 28, 2002 | Winterset State Bank | Central Bank of Kansas City |
| Jun 28, 2002 | Citizens State Bank of Gaylord | Progrowth 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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