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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
Sep 13, 2002 Eagle National Bank TX Sterling Bank
Sep 11, 2002 First National Bank CA First National Bank
Sep 9, 2002 Bank of Clinton County, Inc. KY Monticello Banking Company
Sep 9, 2002 Bank of Monte Vista CO Sunflower Bank, N.A.
Sep 7, 2002 First Bank of Apache OK Shamrock Bank, N.A.
Sep 7, 2002 Area Bancshares Support Services KY Truist Bank
Sep 7, 2002 Peoples Financial Corp., Inc. PA S&T Bancorp, Inc.
Sep 7, 2002 Clayton State Bank OK Shamrock Bank, N.A.
Sep 7, 2002 PFC Bank PA S & T Bank
Sep 7, 2002 The American National Bank of Kimball NE Points West Community Bank
Sep 4, 2002 Palm Beach National Holding Company FL The Colonial Bancgroup, Inc.
Sep 3, 2002 S.M.W. Local 110 Federal Credit Union KY Beacon Community Credit Union
Sep 1, 2002 Gulf West Banks, Inc. FL The South Financial Group, Inc.
Sep 1, 2002 United Trades Federal Credit Union MD Act 1st Federal Credit Union
Sep 1, 2002 Texaco Houston Credit Union TX Chevron Federal Credit Union
Sep 1, 2002 B M a Credit Union MO Central Communications Credit Union
Sep 1, 2002 Northside of San Antonio Federal Credit Union TX Generations Community Federal Credit Union
Sep 1, 2002 American Automobile Association Employees Federal Credit Union FL Gte Federal Credit Union dba Gte Financial
Sep 1, 2002 Journal Star Employees Credit Union NE Peoples Choice Federal Credit Union
Sep 1, 2002 Alliance Credit Union IA The Family Credit Union
Sep 1, 2002 Columbia Federal Credit Union MD State Employees Credit Union of Maryland Inc.
Sep 1, 2002 Copes Vulcan Federal Credit Union PA Tri State Rail Federal Credit Union
Sep 1, 2002 Southington Savings Bank CT TD Bank, N.A.
Sep 1, 2002 Paradigm Bank Texas TX Prosperity Bank
Sep 1, 2002 Rockwell Pittsburgh Federal Credit Union PA Frick Financial Federal Credit Union
Sep 1, 2002 Mercantile Bank FL Mercantile Bank
Sep 1, 2002 Orco Federal Credit Union IL Health Care Family Credit Union
Sep 1, 2002 KCS Employee of Shreveport Credit Union LA Barksdale Federal Credit Union
Aug 31, 2002 Peoples Federal Savings and Loan Association SC First Federal Bank
Aug 31, 2002 C&D Conyers Federal Credit Union GA On the Grid Financial Federal Credit Union
Aug 27, 2002 EFS Federal Savings Bank TN Concord Efs National Bank
Aug 26, 2002 Orangeville Community Bank IL Community Bank
Aug 24, 2002 The First National Bank of Amarillo TX Wells Fargo Bank Texas, National Association
Aug 24, 2002 Southeast Security Bank IA Two Rivers Bank & Trust
Aug 24, 2002 Marathon Bancorp CA PacWest Bancorp
Aug 24, 2002 Marathon National Bank CA Banc of California
Aug 24, 2002 First Fidelity Investment & Loan CA Hawthorne Savings, F.S.B.
Aug 24, 2002 Hamilton Savings Bank NJ Oritani Bank
Aug 24, 2002 Vista Bank, National Association NJ United Trust Bank
Aug 23, 2002 Merchants State Bank of Lewisville MN Farmers State Bank of Madelia, Incorporated
Aug 23, 2002 Upland Bank CA Banc of California
Aug 22, 2002 Bank One, Colorado, National Association CO Bank One, National Association
Aug 22, 2002 Bank One, Wisconsin WI Bank One, National Association
Aug 22, 2002 Goosepond Industrial Credit Union AL Winsouth Credit Union
Aug 22, 2002 Bank One, Indiana, National Association IN Bank One, National Association
Aug 21, 2002 Charter-Michigan Bancorp, Inc. MI Charter One Financial, Inc.
Aug 21, 2002 Vista Bancorp, Inc. NJ United National Bancorp
Aug 19, 2002 Midwest Bank of Mc Henry County IL Midwest Bank and Trust Company
Aug 19, 2002 midwest Bank of Hinsdale IL Midwest Bank and Trust Company
Aug 17, 2002 Texas Star Federal Credit Union TX 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
Jan 17, 2002 OCC_OTS Life Financial Corporation Cease and Desist: Life Financial Corp.
Jan 17, 2002 OCC_OTS Life Financial Corporation Prompt Corrective Action: Life Bank
Jan 15, 2002 OCC Professional Bancorp, Inc. Civil Money Penalty (CMP): Mounce, Gary W.
Jan 15, 2002 OCC Professional Bancorp, Inc. Prohibition/Removal Orders: Mounce, Gary W.
Jan 15, 2002 OCC_OTS (individual) Cease and Desist: Scott G. Day
Jan 9, 2002 FRB (individual) Civil Money Penalty $50,000: Dexia, S.A., Brussels, Belgium, Dexia Bank Belgium, S.A., Brussels, Belgium …
Jan 9, 2002 OCC Southtrust Bank, N.A. Formal Agreement: First National Bank
Jan 8, 2002 OCC_OTS (individual) Supervisory Agreement: Public Finance Service, Inc.

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