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 |
|---|---|---|
| Oct 5, 2002 | Lincoln Savings and Loan Association | First Federal Savings Bank of Ironton |
| Oct 5, 2002 | Grafton State Bank | Heartland Bank |
| Oct 5, 2002 | Union Bank and Trust Company of Indiana | MainSource Bank |
| Oct 2, 2002 | Southwest Bank Holding Company | Prosperity Bancshares, Inc. |
| Oct 2, 2002 | Gateway American Bancshares, Inc. | P.C.B. Bancorp, Inc. |
| Oct 2, 2002 | First Community Industrial Bank | First Community Bank |
| Oct 1, 2002 | Portage Credit Union | Summit Credit Union |
| Oct 1, 2002 | Fort Hamilton Credit Union, Inc. | Cinco Family Financial Center Credit Union |
| Oct 1, 2002 | Cergro Employees Credit Union | Numark Credit Union |
| Oct 1, 2002 | Madison Police Credit Union | Madison Credit Union |
| Oct 1, 2002 | (unnamed) | Arkansas County Bank |
| Oct 1, 2002 | First State Bank of Nebraska | Heartland Community Bank |
| Oct 1, 2002 | Three Rivers Bancorp, Inc | SKY Financial Group, Inc. |
| Oct 1, 2002 | Harbor Bank, National Association | Venture Bank |
| Oct 1, 2002 | Lenders Federal Credit Union | Garden State Federal Credit Union |
| Oct 1, 2002 | Capital Bancshares, Inc. | Johnson Financial Group, Inc. |
| Oct 1, 2002 | Capital Bank | Johnson Bank |
| Oct 1, 2002 | Banc One Services Corporation | Bank One, National Association |
| Oct 1, 2002 | Anderson Post Office Credit Union | Madison County Federal Credit Union |
| Oct 1, 2002 | C B Financial Corp. | First Citizens Bancorporation, Inc. |
| Oct 1, 2002 | Mississippi Valley Bancshares, Inc. | M&I LLC |
| Oct 1, 2002 | Nicom Credit Union | Alero Financial Credit Union |
| Oct 1, 2002 | Fox Employees Credit Union | S D C Employees Credit Union |
| Oct 1, 2002 | Bowling Green Federal Employees Federal Credit Union | Service One Credit Union, Inc. |
| Oct 1, 2002 | Mile High Turkey Federal Credit Union | Premier Members Federal Credit Union |
| Oct 1, 2002 | Transit Credit Union, Inc. | C & O United Credit Union |
| Oct 1, 2002 | U P & L Ogden Credit Union | Utah Power Credit Union |
| Oct 1, 2002 | Wreco Federal Credit Union | Midwest Members Credit Union |
| Oct 1, 2002 | R W C Employees Credit Union | Sunrise Family Credit Union |
| Oct 1, 2002 | Ottumwa Railroad Employees Credit Union | River Community Credit Union |
| Oct 1, 2002 | Western Kraft Employees Federal Credit Union | Red Canoe Credit Union |
| Oct 1, 2002 | Ocean City Employees Federal Credit Union | First Harvest Federal Credit Union |
| Sep 30, 2002 | Harbor Credit Union, Inc. | Buckeye State Credit Union, Inc. |
| Sep 30, 2002 | Community Advantage Federal Credit Union | Dupont Community Credit Union |
| Sep 30, 2002 | The First National Bank of Otis | Colorado Community Bank |
| Sep 30, 2002 | Akron E O G Federal Credit Union | Dominion Energy Credit Union |
| Sep 30, 2002 | Verdugo Hills Postal Federal Credit Union | North Hollywood Federal Credit Union |
| Sep 28, 2002 | The Wymore State Bank | Pinnacle Bank |
| Sep 28, 2002 | Marquette Trust Company of South Dakota, N.A. | Wells Fargo Bank South Dakota, N.A. |
| Sep 27, 2002 | Calvin B. Taylor Bank of Delaware | Calvin B. Taylor Banking Company of Berlin, Maryland |
| Sep 25, 2002 | Northern Plains Investment, Inc. | North Star Holding Company, Inc. |
| Sep 23, 2002 | South Plains Financial Services, Inc. | South Plains Delaware Financial Corporation |
| Sep 21, 2002 | Hamel State Bank | The First National Bank in Staunton |
| Sep 21, 2002 | The Pavilion State Bank | National Bank of Geneva |
| Sep 19, 2002 | The Findlay Savings Bank | Foundation Bank |
| Sep 16, 2002 | Illinois Police Federation Federal Credit Union | Metro Federal Credit Union |
| Sep 14, 2002 | The Midway National Bank of St. Paul | American Bank of St. Paul |
| Sep 14, 2002 | Massachusetts Co-operative Bank | Abington Savings Bank |
| Sep 14, 2002 | Bank of Louisville | Truist Bank |
| Sep 13, 2002 | Prestige Bank, A Federal Savings Bank | Northwest 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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