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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
Dec 1, 2002 United Community Bank Rabun County GA United Community Bank
Dec 1, 2002 United Community Bank Metro GA United Community Bank
Dec 1, 2002 Security Acadia Bancshares, Inc. LA Financial Corporation of Louisiana
Dec 1, 2002 American Pioneer Federal Credit Union PA Viriva Community Credit Union
Dec 1, 2002 The State Credit Union NJ Credit Union of New Jersey
Dec 1, 2002 The Gardena Friendly Federal Credit Union CA Northrop Grumman Federal Credit Union
Dec 1, 2002 American Bank National Association LA American Horizons Bank
Dec 1, 2002 Bank of Greenville WV First Community Bank
Dec 1, 2002 United Community Bank Towns County GA United Community Bank
Dec 1, 2002 Erie Strayer Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2002 Sun Catholic Credit Union AZ Marisol Federal Credit Union
Dec 1, 2002 C P Works Employees Federal Credit Union PA Tri Boro Federal Credit Union
Dec 1, 2002 United Community Bank White County GA United Community Bank
Dec 1, 2002 United Communitiy Bank Dawson County GA United Community Bank
Dec 1, 2002 The Industrial Bank of Japan Trust Company NY Mizuho Bank (USA)
Nov 30, 2002 Fortress Bancshares, Inc. WI Merchants Merger Corp.
Nov 30, 2002 Cavalier Credit Union ND North Star Community Credit Union
Nov 29, 2002 South Gasconade Investment Corporation MO Linn Holding Company
Nov 26, 2002 Frontier State Bank AZ National Bank of Arizona
Nov 25, 2002 Ebc Employees Credit Union VT Vermont Federal Credit Union
Nov 23, 2002 Palmyra Savings MO First Federal Bank
Nov 23, 2002 Blue River Federal Savings Bank IN Salin Bank and Trust Company
Nov 22, 2002 Eastern Bank & Trust MA Eastern Bank
Nov 20, 2002 White Gold Credit Union GA Georgia Guard Credit Union
Nov 18, 2002 Texas Country Bank TX Texas State Bank
Nov 18, 2002 San Juan Delaware Financial Corporation DE BBVA Compass Bancshares, Inc.
Nov 18, 2002 San Juan Bancshares, Inc. TX BBVA Compass Bancshares, Inc.
Nov 17, 2002 Centennial Bank OR Columbia Bank
Nov 16, 2002 Columbus FSB NE BankFirst
Nov 16, 2002 Centennial Bancorp OR Umpqua Holdings Corporation
Nov 16, 2002 The Corning Bank AR First National Bank
Nov 16, 2002 TrustCo Bank, National Association NY TrustCo Bank
Nov 16, 2002 Security State Bank of Deer Creek MN Wadena State Bank
Nov 15, 2002 CF Glass Employees Federal Credit Union RI Navigant Credit Union
Nov 15, 2002 (unnamed) — First National Bank
Nov 15, 2002 National Bank of Hastings MI Sand Ridge Bank
Nov 15, 2002 The Bright National Bank IN Sand Ridge Bank
Nov 14, 2002 First State Bank of Donalsonville GA First State Bank of Blakely
Nov 13, 2002 California Federal Bank CA West, National Association
Nov 13, 2002 Bank of the Northwest OR Pacific Northwest Bank
Nov 12, 2002 Texas Asset Acquisition Corporation TX Bank One, National Association
Nov 9, 2002 The Morrill State Bank & Trust Co. KS Bank of Blue Valley
Nov 9, 2002 Bank of Tanglewood, National Association TX Bank of Texas. National Association
Nov 9, 2002 First South Bank FL Truist Bank
Nov 9, 2002 Cayuga Bank NY First Niagara Bank, N.A.
Nov 9, 2002 21st Century Bank MN 21st Century Bank
Nov 9, 2002 First National Bank of Onaga KS Bank of Blue Valley
Nov 9, 2002 Cortland Savings Bank NY First Niagara Bank, N.A.
Nov 8, 2002 Metropolitan National Bank OH First National Bank of Pennsylvania
Nov 8, 2002 American National Bank and Trust Company of Chicago IL Bank One, National Association

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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