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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
Jun 28, 2002 The Waverly Building and Loan Company OH American Savings Bank, FSB
Jun 28, 2002 Pendleton Federal Savings Bank KY United Midwest Savings Bank, N.A.
Jun 25, 2002 Preferred Bancshares, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Community First Properties, Inc. ND Community First Bankshares, Inc.
Jun 25, 2002 R.O.M. Financial Services, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Oakley Holding Company MN Klein Financial, Inc.
Jun 22, 2002 Jefferson Heritage Bank TX Union Planters Bank, National Association
Jun 22, 2002 Kerman State Bank CA Westamerica Bank
Jun 22, 2002 First State Bank of Fort Collins CO First Main Street Bank, National Association
Jun 22, 2002 Caroline Savings Bank VA Virginia Heartland Bank
Jun 21, 2002 Bank One, Michigan MI Bank One, National Association
Jun 21, 2002 Community Bank KS Astra Bank
Jun 20, 2002 Metropolitan Bancshares, Inc. TN First Citizens Bancshares, Inc.
Jun 19, 2002 Newport Federal Savings Bank AR Iberiabank FSB
Jun 19, 2002 First Trust Bank of Shelbyville IL Main Street Bank & Trust
Jun 18, 2002 Independence Bank NC Bank of North Carolina
Jun 17, 2002 (unnamed) — Sabine State Bank and Trust Company
Jun 15, 2002 First State Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 The First National Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 First American Bank IA First American Bank
Jun 15, 2002 Associated Bank Minnesota MN Associated Bank Minnesota, National Association
Jun 15, 2002 Signal Bank South National Association MN Associated Bank Minnesota, National Association
Jun 15, 2002 Bank of Santa Fe, National Association NM Wells Fargo Bank New Mexico, National Association
Jun 14, 2002 Arvest Bank AR Arvest Bank
Jun 10, 2002 The Bancorp, Inc. WI The Baraboo Bancorporation, Inc.
Jun 10, 2002 Norkitt Bancorp, Inc. MN Marshall BankFirst Corporation
Jun 10, 2002 Wauneta Falls Bancorp, Inc. NE First Express of Nebraska, Inc.
Jun 7, 2002 Peoples Bank of Tompkinsville KY Edmonton State Bank
Jun 3, 2002 Rogers Park Safe Deposit Company IL The First Commercial Bank
Jun 3, 2002 Hercules Covington Employees Credit Union VA Jackson River Community Credit Union
Jun 3, 2002 Knottsville Credit Union KY Green River Area Federal Credit Union
Jun 3, 2002 Snowbird Employees Credit Union UT Utah First Federal Credit Union
Jun 1, 2002 Tehama Bank CA Humboldt Bank
Jun 1, 2002 Mercer County (Pa) United States Employees Federal Cu PA Pennstar Federal Credit Union
Jun 1, 2002 Educators Credit Union CO Power Credit Union
Jun 1, 2002 Super Chief Credit Union KS Envista Federal Credit Union
Jun 1, 2002 Menahga Co-Op Federal Credit Union MN Trustar Federal Credit Union
Jun 1, 2002 Hilton Davis Employees Federal Credit Union OH Kemba Credit Union, Inc.
Jun 1, 2002 Peoples Bank AR Iberiabank FSB
Jun 1, 2002 G N B Employees Credit Union IL Credit Union 1
Jun 1, 2002 West Central Illinois Credit Union IL Heritage Credit Union
Jun 1, 2002 Swanson Employees Federal Credit Union PA Widget Federal Credit Union
Jun 1, 2002 Firth Sterling Credit Union PA Parkview Community Federal Credit Union
Jun 1, 2002 The Morris Plan Savings Bank, Inc., SSB NC Randolph Bank & Trust Company
Jun 1, 2002 Mobile County Bank AL Century Bank
Jun 1, 2002 Snake River Teachers Credit Union ID Members Preferred Credit Union
Jun 1, 2002 Rocky Ford Federal Savings and Loan Association of Colorado CO Community Banks of Southern Colorado
Jun 1, 2002 Richfield Bank & Trust Co. MN M&I Marshall and Ilsley Bank
Jun 1, 2002 Lubbock Federal Credit Union TX Alliance Credit Union
Jun 1, 2002 Connecticut Family Credit Union, Inc. CT First Bristol 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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