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 |
|---|---|---|
| May 1, 2002 | The Saints Credit Union | Carepoint Federal Credit Union |
| May 1, 2002 | I.B.E.W. Credit Union | West Community Credit Union |
| May 1, 2002 | Pratt Teachers Credit Union | Central Kansas Credit Union |
| May 1, 2002 | Mormon Trail Credit Union | Community 1st Credit Union |
| May 1, 2002 | Ceco of Milan Employees Credit Union | Leaders Credit Union |
| May 1, 2002 | First Community Bank of Southwest Georgia | The Park Avenue Bank |
| Apr 30, 2002 | Lufkin Credit Union | Members Credit Union |
| Apr 30, 2002 | Brookhollow Bancshares, Inc. | Regions Financial Corporation |
| Apr 30, 2002 | First Western Bancorp, Inc. | SKY Financial Group, Inc. |
| Apr 30, 2002 | Employees United Credit Union | Select Employees Credit Union |
| Apr 27, 2002 | Mesquite State Bank | Bank of Nevada |
| Apr 27, 2002 | Mesquite Financial Corporation | Bank of Nevada |
| Apr 27, 2002 | Wetex Credit Union | America's Credit Union |
| Apr 25, 2002 | Southern Investment Services, Inc. | Southern Community Bank and Trust |
| Apr 24, 2002 | The National Bank of Florida | Sterling National Bank |
| Apr 19, 2002 | WestStar Bank | Arvest Bank |
| Apr 19, 2002 | Arvest State Bank | Arvest Bank |
| Apr 17, 2002 | Bank of Mansfield | Allied Bank |
| Apr 17, 2002 | First Capital Group, Inc. | Union Financial Group LTD |
| Apr 17, 2002 | Gulf Coast Community Bancshares, Inc. | Banctrust Financial Group, Inc. |
| Apr 17, 2002 | First Financial Corp. | Washington Trust Bancorp, Inc. |
| Apr 17, 2002 | First Bank and Trust Company | The Washington Trust Company, of Westerly |
| Apr 13, 2002 | First Bank of Cleveland | American Heritage Bank |
| Apr 12, 2002 | Employees Plan Federal Credit Union | Statewide Federal Credit Union |
| Apr 12, 2002 | Bank of Belfast | First National Bank of Pulaski |
| Apr 8, 2002 | (unnamed) | BNC National Bank |
| Apr 6, 2002 | First Lincolnwood Corp. | MB Financial, Inc. |
| Apr 6, 2002 | The First National Bank of Lincolnwood | MB Financial Bank, National Association |
| Apr 5, 2002 | First Bank of Texas | Regions Bank |
| Apr 5, 2002 | Bank of Palmyra | Town And Country Bank |
| Apr 4, 2002 | Community National Corporation | Frandsen Financial Corporation |
| Apr 4, 2002 | Citizens State Bank | Cornerstone Bank |
| Apr 3, 2002 | Samaritan Hospital Employees Federal Credit Union | Broadview Federal Credit Union |
| Apr 3, 2002 | Fbi Corporation | WesBanco, Inc. |
| Apr 3, 2002 | Peoples Federal Savings and Loan Association | First National Bank |
| Apr 3, 2002 | Bank of Carbon Hill | First National Bank |
| Apr 3, 2002 | Noala Methodist Federal Credit Union | Alatrust Credit Union |
| Apr 1, 2002 | Acme Visible Records Federal Credit Union | University of Virginia Community Credit Union, Inc. |
| Apr 1, 2002 | Signal Trust Company N.A. | Associated Trust Company, N.A. |
| Apr 1, 2002 | Triangle Bancorporation | Marion County Bancshares, Inc. |
| Apr 1, 2002 | Commonwealth Bank and Trust Company | Commonwealth Bank and Trust Company |
| Apr 1, 2002 | Grand Bank Financial Corporation | Macatawa Bank Corporation |
| Apr 1, 2002 | The Industrial Bank of Japan, Limited | Mizuho Bank, Ltd. |
| Apr 1, 2002 | Union Labor Life Insurance Company Federal Credit Union | Afl-Cio Employees Federal Credit Union |
| Apr 1, 2002 | Independent Community Banc Corp | Civista Bancshares, Inc |
| Apr 1, 2002 | Lafayette Bancorporation | First Merchants Corporation |
| Apr 1, 2002 | Albert Lea Interstate Employees Credit Union | City and County Employees Federal Credit Union |
| Apr 1, 2002 | Dynamatic Employees Credit Union | Educators Credit Union |
| Apr 1, 2002 | Nela Credit Union, Inc. | Cardinal Credit Union, Inc. |
| Apr 1, 2002 | West Point Federal Credit Union | Pentagon Federal Credit Union |
The list holds 500 of the 786 mergers recorded for 2002.
Enforcement Actions in 2002
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Dec 23, 2002 | OCC | United National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Williams, Sultan K. |
| Dec 18, 2002 | OCC | Citizens National Bank & Trust of Hazard | Prohibition/Removal Orders: Campbell, Laura Gorman |
| Dec 17, 2002 | OCC | The First National Bank of Mt. Pulaski | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Mt. … |
| Dec 17, 2002 | OCC | First National Bank of Newton | Formal Agreement: First National Bank of Newton |
| Dec 17, 2002 | OCC | The Dublin National Bank | Formal Agreement: The Dublin National Bank |
| Dec 16, 2002 | OCC | The Farmers National Bank of Winfield | Formal Agreement: The Farmers National Bank of Winfield |
| Dec 10, 2002 | FRB | Metamora Bancorp, Inc. | Written Agreement: Metamora Bancorp, Inc., Metamora, OH and The Metamora State Bank, Metamora, OH |
| Dec 4, 2002 | OCC_OTS | First Federal Savings Bank | Civil Money Penalty: First Federal Savings Bank |
| Dec 3, 2002 | OCC | Bank of America, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Nguyen, Bien C. |
| Dec 3, 2002 | OCC | PNC Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gindele, Rachel E. |
| Dec 3, 2002 | OCC | Bank of America, N.A. | C&D or PC&D Requiring Restitution: Nguyen, Bien C. |
| Nov 22, 2002 | FRB | First Western Bank | Notice of Intent: Carl V. Thomas, Eva June Thomas, Stephen P. Thomas, Mary Beth … |
| Nov 21, 2002 | OCC | U.S. Bank N.A. | Prohibition/Removal Orders: Gibson, Alexis G. |
| Nov 18, 2002 | OCC | Riverside National Bank of Florida | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mitchell, Lewis Edward |
| Nov 15, 2002 | OCC | Union Federal Bank of Indianapolis | Prohibition/Removal Orders: Gulli, Michelle |
| Nov 15, 2002 | OCC_OTS | Union Federal Bank of Indianapolis | Orders of Removal/Prohibition: Robin M. DeGrange |
| Nov 15, 2002 | OCC_OTS | Union Federal Bank of Indianapolis | Orders of Removal/Prohibition: Michelle P. Gulli |
| Nov 15, 2002 | FRB | Deutsche Bank Trust Company, National Association | Prohibition from Banking: Eduardo Del Rio |
| Nov 7, 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 |
| Oct 31, 2002 | OCC | Bank of China | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Jian, Xiang Wen ("Simon") |
| Oct 31, 2002 | OCC | Bank of China | Civil Money Penalty (CMP): Wen, Jian Xiang |
| Oct 31, 2002 | OCC | Bank of China | Prohibition/Removal Orders: Young, Patrick |
| Oct 31, 2002 | OCC | Bank of China | Civil Money Penalty (CMP): Young, Patrick |
| Oct 29, 2002 | OCC | The First National Bank of Shelby | Formal Agreement: The First National Bank of Shelby |
| Oct 28, 2002 | OCC | Goleta National Bank | Civil Money Penalty (CMP): Goleta National Bank |
| Oct 28, 2002 | OCC | Goleta National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Goleta National Bank |
| Oct 25, 2002 | OCC | Goleta National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Goleta National Bank |
| Oct 25, 2002 | OCC_OTS | Liberty Trust & Savings Bank | Cease and Desist: Robert A. Baudler |
| Oct 25, 2002 | OCC_OTS | Greater South Texas Bank | Cease and Desist: James Edward Bryson |
| Oct 25, 2002 | OCC | Goleta National Bank | Civil Money Penalty (CMP): Goleta National Bank |
| Oct 21, 2002 | OCC | Valley Bank (National Association) | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Valley Bank (National Association) |
| Oct 21, 2002 | OCC | Citizens National Bank & Trust of Hazard | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Fields, Donald |
| Oct 18, 2002 | OCC_OTS | United Savings Association of Texas | Cease and Desist: Charles E. Hurwitz |
| Oct 17, 2002 | OCC_OTS | American Trust & Savings Bank | Cease and Desist: Bruce M. Borst |
| Oct 15, 2002 | OCC | The First National Bank of Slippery Rock | Formal Agreement: The First National Bank of Slippery Rock |
| Oct 11, 2002 | OCC | First National Bank of Shelby County | Formal Agreement: First National Bank of Shelby County |
| Oct 11, 2002 | FRB | United Central Bank | Amendment of 11/13/2002 Order to Cease and Desist: United Central Bank, Garland, TX |
| Oct 10, 2002 | OCC_OTS | Superior Bank, Federal Savings Bank | Cease and Desist: Neal T. Halleran |
| Oct 10, 2002 | OCC | Luzerne National Bank Corporation | Formal Agreement: Luzerne National Bank |
| Oct 10, 2002 | OCC | Fidelity National Mortgage Corporation | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Perry, James H. |
| Oct 8, 2002 | OCC | Fidelity National Mortgage Corporation | Civil Money Penalty (CMP): Fidelity National Bank |
| Oct 4, 2002 | FRB | Byron Center State Bank | Written Agreement: O.A.K. Financial Corporation, Byron Center, MI, and Byron Center State Bank, Byron … |
| Oct 2, 2002 | OCC | First National Bank of Clinton | Formal Agreement: First National Bank of Clinton |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): Chapman, Clinton W. |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): King, Benjamin L. |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): Fleming, Massie |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): Windsor, George H. |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): Williams, Emerson |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): Mitchell, Cynthia T. |
| Sep 30, 2002 | OCC | Industrial Bank, National Association | Civil Money Penalty (CMP): Mitchell, B. Doyle |
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