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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
Jun 28, 2002 The Waverly Building and Loan Company OH American Savings Bank, FSB
Jun 28, 2002 Pendleton Federal Savings Bank KY United Midwest Savings Bank, N.A.
Jun 25, 2002 Preferred Bancshares, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Community First Properties, Inc. ND Community First Bankshares, Inc.
Jun 25, 2002 R.O.M. Financial Services, Inc. MN Klein Financial, Inc.
Jun 25, 2002 Oakley Holding Company MN Klein Financial, Inc.
Jun 22, 2002 Jefferson Heritage Bank TX Union Planters Bank, National Association
Jun 22, 2002 Kerman State Bank CA Westamerica Bank
Jun 22, 2002 First State Bank of Fort Collins CO First Main Street Bank, National Association
Jun 22, 2002 Caroline Savings Bank VA Virginia Heartland Bank
Jun 21, 2002 Bank One, Michigan MI Bank One, National Association
Jun 21, 2002 Community Bank KS Astra Bank
Jun 20, 2002 Metropolitan Bancshares, Inc. TN First Citizens Bancshares, Inc.
Jun 19, 2002 Newport Federal Savings Bank AR Iberiabank FSB
Jun 19, 2002 First Trust Bank of Shelbyville IL Main Street Bank & Trust
Jun 18, 2002 Independence Bank NC Bank of North Carolina
Jun 17, 2002 (unnamed) — Sabine State Bank and Trust Company
Jun 15, 2002 First State Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 The First National Bank of Texas TX Wells Fargo Bank Texas, National Association
Jun 15, 2002 First American Bank IA First American Bank
Jun 15, 2002 Associated Bank Minnesota MN Associated Bank Minnesota, National Association
Jun 15, 2002 Signal Bank South National Association MN Associated Bank Minnesota, National Association
Jun 15, 2002 Bank of Santa Fe, National Association NM Wells Fargo Bank New Mexico, National Association
Jun 14, 2002 Arvest Bank AR Arvest Bank
Jun 10, 2002 The Bancorp, Inc. WI The Baraboo Bancorporation, Inc.
Jun 10, 2002 Norkitt Bancorp, Inc. MN Marshall BankFirst Corporation
Jun 10, 2002 Wauneta Falls Bancorp, Inc. NE First Express of Nebraska, Inc.
Jun 7, 2002 Peoples Bank of Tompkinsville KY Edmonton State Bank
Jun 3, 2002 Rogers Park Safe Deposit Company IL The First Commercial Bank
Jun 3, 2002 Hercules Covington Employees Credit Union VA Jackson River Community Credit Union
Jun 3, 2002 Knottsville Credit Union KY Green River Area Federal Credit Union
Jun 3, 2002 Snowbird Employees Credit Union UT Utah First Federal Credit Union
Jun 1, 2002 Tehama Bank CA Humboldt Bank
Jun 1, 2002 Mercer County (Pa) United States Employees Federal Cu PA Pennstar Federal Credit Union
Jun 1, 2002 Educators Credit Union CO Power Credit Union
Jun 1, 2002 Super Chief Credit Union KS Envista Federal Credit Union
Jun 1, 2002 Menahga Co-Op Federal Credit Union MN Trustar Federal Credit Union
Jun 1, 2002 Hilton Davis Employees Federal Credit Union OH Kemba Credit Union, Inc.
Jun 1, 2002 Peoples Bank AR Iberiabank FSB
Jun 1, 2002 G N B Employees Credit Union IL Credit Union 1
Jun 1, 2002 West Central Illinois Credit Union IL Heritage Credit Union
Jun 1, 2002 Swanson Employees Federal Credit Union PA Widget Federal Credit Union
Jun 1, 2002 Firth Sterling Credit Union PA Parkview Community Federal Credit Union
Jun 1, 2002 The Morris Plan Savings Bank, Inc., SSB NC Randolph Bank & Trust Company
Jun 1, 2002 Mobile County Bank AL Century Bank
Jun 1, 2002 Snake River Teachers Credit Union ID Members Preferred Credit Union
Jun 1, 2002 Rocky Ford Federal Savings and Loan Association of Colorado CO Community Banks of Southern Colorado
Jun 1, 2002 Richfield Bank & Trust Co. MN M&I Marshall and Ilsley Bank
Jun 1, 2002 Lubbock Federal Credit Union TX Alliance Credit Union
Jun 1, 2002 Connecticut Family Credit Union, Inc. CT First Bristol Federal Credit Union

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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