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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
Nov 8, 2002 Bank One, Illinois, National Association IL Bank One, National Association
Nov 6, 2002 Buckeye International Employees Credit Union, Inc. OH First Service Federal Credit Union
Nov 6, 2002 U.S. National Bank OK Local Oklahoma Bank
Nov 1, 2002 USABANCSHARES.COM, Inc PA Nova Financial Holdings, Inc
Nov 1, 2002 Cba Bancshares, Inc. MN Marquette Financial Companies
Nov 1, 2002 Gold Trust Company MO Gold Trust Company
Nov 1, 2002 First National Bank of Bay City TX Prosperity Bank
Nov 1, 2002 Rock Hill Bank & Trust SC Carolina First Bank
Nov 1, 2002 Valencia Bank & Trust CA MUFG Union Bank, National Association
Nov 1, 2002 Birch Run Area Credit Union MI Great Lakes Federal Credit Union
Nov 1, 2002 Pascagoula City Employees Federal Credit Union MS Singing River Federal Credit Union
Nov 1, 2002 Saint Pius Tenth Federal Credit Union CO Space Age Credit Union
Nov 1, 2002 Regional Health Care Federal Credit Union TN United Southeast Federal Credit Union
Nov 1, 2002 New Horizons Federal Credit Union AR Northwest Arkansas Federal Credit Union
Nov 1, 2002 Newnan Canco Employees Federal Credit Union GA Coweta Cities & County Employees Federal Credit Union
Nov 1, 2002 Texas Gas Employees Credit Union KY Transcend Credit Union
Nov 1, 2002 Mid-Continent Federal Credit Union TX Heritage USA Federal Credit Union
Nov 1, 2002 Razorback Federal Credit Union AR Northwest Arkansas Federal Credit Union
Nov 1, 2002 Fontaine Employees Federal Credit Union AL Southern Energy Credit Union
Nov 1, 2002 Indiana County Pennsylvania School Employees Federal Credit Union PA Pennsylvania State Employees Credit Union dba Psecu
Nov 1, 2002 The Citizens National Bank & Trust Co. KS Kanza Bank
Nov 1, 2002 Hotchkiss Community Federal Credit Union CO Delta County Federal Credit Union
Nov 1, 2002 Southern Oklahoma Federal Credit Union OK Communication Federal Credit Union
Nov 1, 2002 Steelcase of California Employee Federal Credit Union CA Wescom Central Credit Union
Nov 1, 2002 Westop Credit Union WA Sound Credit Union
Oct 31, 2002 Heritage Bancshares, Inc. IN Piper Holdings, Inc.
Oct 31, 2002 Biggsville Financial Corporation IL Herky Hawk Financial Corp.
Oct 29, 2002 Bank of Canton of California CA United Commercial Bank
Oct 28, 2002 Security State Bank IA Central Bank
Oct 28, 2002 First Security Banshares, Inc. IA Central Bank
Oct 26, 2002 Fidelity Federal Bank, a Federal Savings Bank CA California National Bank
Oct 26, 2002 Three Rivers Bank and Trust Company PA SKY Bank
Oct 25, 2002 First State Bank of Fort Benton MT First Security Bank
Oct 25, 2002 State Bank of Jefferson County MO Allegiant Bank
Oct 19, 2002 Heritage Bank, National Association NE Heritage Bank
Oct 19, 2002 Pulaski Savings Bank NJ Kearny Bank
Oct 18, 2002 Cerro Gordo Building and Loan, S.B. IL State Bank of Cerro Gordo
Oct 18, 2002 Palm Beach National Bank & Trust Company FL Colonial Bank
Oct 17, 2002 Southern Credit Services, Inc. NC Southern Community Bank and Trust
Oct 16, 2002 Medford Bancorp, Inc. MA Citizens Financial Group, Inc.
Oct 16, 2002 Medford Savings Bank MA Citizens Bank of Massachusetts
Oct 15, 2002 Southwest Bank PA First Commonwealth Bank
Oct 12, 2002 American Bank CO The Home State Bank
Oct 12, 2002 541 Investment Co. CO The Home State Bank
Oct 10, 2002 (unnamed) — Gateway Business Bank
Oct 10, 2002 Greenfield Printers Credit Union, Inc. OH Homeland Credit Union, Inc.
Oct 9, 2002 Lockheed Martin Fairchild Systems Federal Credit Union NY Fourleaf Federal Credit Union
Oct 9, 2002 Fordham Federal Credit Union NY Academic Federal Credit Union
Oct 7, 2002 Crest Bancorp, Inc. IL Piper Bankshares, Inc.
Oct 7, 2002 Roberts State Bank IL Vermilion Valley Bank

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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