Skip to main content

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
Jul 13, 2002 Marquette Bank Morrison IL Wells Fargo Bank Illinois, National Association
Jul 13, 2002 Marquette Bank Monmouth IL Wells Fargo Bank Illinois, National Association
Jul 13, 2002 Marquette Bank, National Association MN Wells Fargo Bank Minnesota, National Association
Jul 12, 2002 Brookhollow National Bank TX Regions Bank
Jul 12, 2002 The First State Bank TX Prosperity Bank
Jul 11, 2002 The Bank of Perry KS First State Bank and Trust
Jul 11, 2002 Rowan-Iredell Area Credit Union NC First Legacy Community Credit Union
Jul 10, 2002 Ventura Texaco Employees Federal Credit Union CA Ventura County Credit Union
Jul 10, 2002 Shawnee Bancshares, Inc. IL First Southern Bancshares, Inc
Jul 10, 2002 Advance Stamping Company Federal Credit Union MI Parkway Federal Credit Union
Jul 8, 2002 The Beatrice National Bank and Trust Company NE Pinnacle Bank
Jul 5, 2002 Norton Federal Credit Union TX Valley Federal Credit Union
Jul 1, 2002 Cerritos Valley Bancorp CA Cerritos Valley Bank
Jul 1, 2002 Credit Carimonte S.P.A. — Unicredit S.P.A.
Jul 1, 2002 F & M Community Bank, N.A. MN F & M Community Bank, N.A.
Jul 1, 2002 Advance Acceptance Corporation MN First Western Bank and Trust
Jul 1, 2002 Ridgeway Bancshares, Inc. SC Community Bankshares, Inc.
Jul 1, 2002 Data Fac Computer Company, Inc. OK Bank of Commerce
Jul 1, 2002 Middlesex Bank & Trust Company MA Connecticut Community Bank, N.A.
Jul 1, 2002 Household Bank (Nevada), N.A. NV HSBC Bank Nevada, N.A.
Jul 1, 2002 Rolo Banca 1473 S.P.A. — Unicredit S.P.A.
Jul 1, 2002 Beneficial National Bank USA DE HSBC Bank Nevada, N.A.
Jul 1, 2002 East Point Municipal Employees Credit Union GA Fort McPherson Credit Union
Jul 1, 2002 Garfield Credit Union UT Transwest Credit Union
Jul 1, 2002 First Community Credit Union of Marinette WI Forward Financial Credit Union
Jul 1, 2002 Southeast Florida Credit Union FL Ithink Financial Credit Union
Jul 1, 2002 Columbia Hospital for Women Federal Credit Union DC Democracy Federal Credit Union
Jul 1, 2002 Motion Control Industries Federal Credit Union PA Penntech Employees Federal Credit Union
Jul 1, 2002 Progressive Credit Union IL Credit Union 1
Jul 1, 2002 Arrowhead Cooperative Credit Union MN Members Cooperative Credit Union
Jul 1, 2002 Roosevelt County School Employee Credit Union NM First Financial Credit Union
Jul 1, 2002 Northwest Indiana Medical Federal Credit Union IN Northern Indiana Federal Credit Union
Jul 1, 2002 Ryco Federal Credit Union MT Rimrock Credit Union
Jul 1, 2002 First Commercial Bank of Southeast Missouri MO First Commercial Bank
Jul 1, 2002 Blessed Sacrament Federal Credit Union MA SJB Federal Credit Union
Jul 1, 2002 P. W. T. Federal Credit Union WA First Community Credit Union
Jul 1, 2002 Heco Federal Credit Union WA Tacoma Narrows Federal Credit Union
Jul 1, 2002 Warren State Hospital Employees Federal Credit Union PA N F G #2 Federal Credit Union
Jul 1, 2002 Kenosha Catholic Community Credit Union WI Educators Credit Union
Jun 30, 2002 Local 648 Hamilton Federal Credit Union OH Chaco Credit Union, Inc.
Jun 30, 2002 Landmark Bancshares of Oklahoma, Inc MO Landrum Company
Jun 30, 2002 Landmark Bancshares of Texas, Inc. MO Landrum Company
Jun 30, 2002 Jack's Fork Bancorporation, Inc. MO Landrum Company
Jun 30, 2002 Durham Municipal Credit Union NC Members Credit Union
Jun 30, 2002 PRR Conemaugh Federal Credit Union PA Merho Federal Credit Union
Jun 29, 2002 Western Security Finance Corporation CA Citizens Business Bank, N.A.
Jun 29, 2002 Western Security Acceptance Corporation CA Citizens Business Bank, N.A.
Jun 29, 2002 Western Security Bank, National Association CA Citizens Business Bank, N.A.
Jun 28, 2002 Winterset State Bank MO Central Bank of Kansas City
Jun 28, 2002 Citizens State Bank of Gaylord MN Progrowth 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

Browse adjacent years: 2001 · 2003

Or jump to a category: Failures · Mergers · Enforcement · Assistance