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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 1, 2002 Security State Bank IA United Community Bank
Jun 1, 2002 Interstate Publishers Employees Credit Union IL Danville Bell Credit Union
Jun 1, 2002 Grand Bancorp, Inc. AL Bancorp of Lucedale, Inc.
Jun 1, 2002 K. Roberts, Inc. MN Northwestern Bancshares, Inc.
Jun 1, 2002 Century Bank, National Association MN M&I Marshall and Ilsley Bank
Jun 1, 2002 American Community Bank of Georgia GA First National Bank of Griffin
Jun 1, 2002 Security First Network Bank GA RBC Bank (USA)
Jun 1, 2002 Capitol Valley Bank CA Humboldt Bank
May 31, 2002 Alice City Employees Federal Credit Union TX Gulf Coast Federal Credit Union
May 31, 2002 SBC Financial Corporation NY The Oneida Savings Bank
May 31, 2002 First Superior Credit Union WI Unitedone Credit Union
May 29, 2002 Alcoa Federal Credit Union IN Health Care Professionals Federal Credit Union
May 28, 2002 Charter National Bancorp, Inc. MI Charter-Michigan Bancorp, Inc.
May 28, 2002 True Blue Federal Credit Union WV West Virginia Federal Credit Union
May 25, 2002 Palomar Community Bank CA 1st Centennial Bank
May 23, 2002 Thomson Investment Company, Inc. IL Savanna-Thomson Investment, Inc.
May 23, 2002 Savanna State Bank IL Fidelity Bank
May 21, 2002 Erie Concrete Steel Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
May 21, 2002 Omega City Holding Company ND First Financial Corporation
May 18, 2002 Citizens Bank and Trust Company MS The Citizens Bank of Philadelphia
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Charter One Commercial NY Charter One Bank, National Association
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Independence Bank, National Association TX Regions Bank
May 17, 2002 Arvest Bank OK Arvest Bank
May 16, 2002 Prices Employees Federal Credit Union TX Mountain Star Federal Credit Union
May 16, 2002 I S E a Credit Union IA Greater Iowa Credit Union
May 15, 2002 The Bank of Parrish AL First National Bank
May 15, 2002 CPR — Credit Agricole Corporate and Investment Bank
May 15, 2002 Harbor Japanese Credit Union CA Jacom Credit Union
May 14, 2002 First Western Bank CA MUFG Union Bank, National Association
May 11, 2002 Community First Bank GA Truist Bank
May 10, 2002 The Bank of St. Charles County MO Allegiant Bank
May 9, 2002 Starpoint Central School Federal Credit Union NY Niagara Regional Federal Credit Union
May 9, 2002 The Yonkers Savings and Loan Association, F.A. NY Atlantic Bank of New York
May 9, 2002 Texas Guaranty Bank, National Association TX Prosperity Bank
May 6, 2002 FNB-Southwest, National Association VA FNB Salem Bank and Trust, National Association
May 6, 2002 FNB Mortgage Company CO First Main Street Bank, National Association
May 2, 2002 Williamstown Mutual Holding Company MA Mountainone Financial, MHC
May 1, 2002 Bank of Avoca NY Bath National Bank
May 1, 2002 Coastal Commerce Bankshares, Inc. LA Kaplan State Bank
May 1, 2002 Cushman Federal Credit Union NE Lincone Federal Credit Union
May 1, 2002 Freedom Area Schools Federal Credit Union PA Freedom United Federal Credit Union
May 1, 2002 Ampco Credit Union WI Guardian Credit Union
May 1, 2002 Michigan Railroaders Credit Union MI South Central Credit Union
May 1, 2002 Christ Hospital Federal Credit Union NJ Healthcare Employees Federal Credit Union
May 1, 2002 LTV Steel Employees Federal Credit Union IN Tech Credit Union
May 1, 2002 Allied Van Lines Employees Credit Union IL Credit Union 1
May 1, 2002 Metro East Credit Union IL Scott Credit Union
May 1, 2002 Apa Federal Credit Union DC Signal Financial 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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