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 |
|---|---|---|
| Aug 16, 2002 | Viking Bank | Northwestern Bank, N.A. |
| Aug 16, 2002 | Cerritos Valley Bank | Bank of Orange County |
| Aug 15, 2002 | Desoto Parish Teachers Federal Credit Union | Carter Federal Credit Union |
| Aug 15, 2002 | Metro-County Bank of Virginia, Inc. | Southern Financial Bank |
| Aug 15, 2002 | Hudson Valley Postal Federal Credit Union | Bridgeway Federal Credit Union |
| Aug 10, 2002 | Bryan County National Bank | Shamrock Bank, N.A. |
| Aug 9, 2002 | Charter Bank | Charter One Bank, National Association |
| Aug 3, 2002 | First American Savings Bank, F.S.B. | First Savings Bank |
| Aug 3, 2002 | Founders' Bank | Susquehanna Bank DV |
| Aug 2, 2002 | A. P. A. Federal Credit Union | Liberty Savings Federal Credit Union |
| Aug 1, 2002 | Embry Bankshares, Inc. | Gwinnett Commercial Group, Inc. |
| Aug 1, 2002 | Main Street Bankshares, Inc. | Yadkin Bank |
| Aug 1, 2002 | Piedmont Bank | Yadkin Bank |
| Aug 1, 2002 | Rowan Bancorp, Inc. | Communityone Bancorp |
| Aug 1, 2002 | Community Financial Group, Inc. | Synovus Financial Corp. |
| Aug 1, 2002 | Tongue River Valley Bancshares | Cowboy State Bancorp, Inc. |
| Aug 1, 2002 | Latah Bancorporation, Inc. | Americanwest Bancorporation |
| Aug 1, 2002 | Waunakee Bank Shares, Inc. | Lake Ridge Bancorp, Inc. |
| Aug 1, 2002 | Turtle Lake Community Credit Union | Dakota West Credit Union |
| Aug 1, 2002 | Contrak Credit Union | Community Choice Credit Union |
| Aug 1, 2002 | Renaissance Credit Union | Guardian Credit Union |
| Aug 1, 2002 | Bank of Waunakee | Lake Ridge Bank |
| Aug 1, 2002 | Londonderry Credit Union | Heritage Family Federal Credit Union |
| Aug 1, 2002 | Columbia St. Mary's Credit Union | Educators Credit Union |
| Aug 1, 2002 | First Federal Savings Bank | State Bank |
| Aug 1, 2002 | Asc-Dallas Division Federal Credit Union | Mobility Credit Union |
| Jul 31, 2002 | Myers Employees Credit Union, Inc. | Ashland Community Federal Credit Union |
| Jul 29, 2002 | CBCT Bancshares, Inc. | Bastrop Bancshares, Inc. |
| Jul 29, 2002 | Community Bank of Central Texas, SSB | The First National Bank of Bastrop |
| Jul 27, 2002 | Ipswich Savings Bank | TD Bank, N.A. |
| Jul 27, 2002 | Ipswich Bancshares, Inc. | TD Bank US Holding Company |
| Jul 26, 2002 | TCF National Bank Colorado | TCF National Bank |
| Jul 25, 2002 | Heritage Savings Bank, FSB | Baltimore County Savings Bank |
| Jul 24, 2002 | Members' Federal Credit Union | Nuvision Federal Credit Union |
| Jul 23, 2002 | First Holding Company | First National Bank of Tennessee |
| Jul 22, 2002 | Tucker Federal Bank | RBC Bank (USA) |
| Jul 19, 2002 | Hebron Deposit Bank | First Financial Bank |
| Jul 19, 2002 | Rohm & Haas Del-Val Credit Union | Dow Northeast Employees Federal Credit Union |
| Jul 19, 2002 | Pal Item Employees Federal Credit Union | Perfect Circle Credit Union |
| Jul 19, 2002 | GLCC Federal Credit Union | Greater Together Federal Credit Union |
| Jul 18, 2002 | Hornell School Employees Federal Credit Union | Servu Federal Credit Union |
| Jul 16, 2002 | Baron Bancshares II, Inc. | Wadena Bankshares, Inc. |
| Jul 15, 2002 | First State Bank of Newman | First Neighbor Bank, N.A. |
| Jul 13, 2002 | Meridian Capital Bank, N.A. | Wells Fargo Bank Wisconsin, National Association |
| Jul 13, 2002 | Area Bank | Truist Bank |
| Jul 13, 2002 | The First National Bank and Trust Company of Baraboo | Wells Fargo Bank Wisconsin, National Association |
| Jul 13, 2002 | Guaranty Bank & Trust | Security Bank of Kansas City |
| Jul 13, 2002 | Area Trust Company | Truist Bank |
| Jul 13, 2002 | Marquette Capital Bank, N.A. | Wells Fargo Bank Minnesota, National Association |
| Jul 13, 2002 | The Vine Street Trust Company | Truist 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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