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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 1, 2002 Security State Bank IA United Community Bank
Jun 1, 2002 Interstate Publishers Employees Credit Union IL Danville Bell Credit Union
Jun 1, 2002 Grand Bancorp, Inc. AL Bancorp of Lucedale, Inc.
Jun 1, 2002 K. Roberts, Inc. MN Northwestern Bancshares, Inc.
Jun 1, 2002 Century Bank, National Association MN M&I Marshall and Ilsley Bank
Jun 1, 2002 American Community Bank of Georgia GA First National Bank of Griffin
Jun 1, 2002 Security First Network Bank GA RBC Bank (USA)
Jun 1, 2002 Capitol Valley Bank CA Humboldt Bank
May 31, 2002 Alice City Employees Federal Credit Union TX Gulf Coast Federal Credit Union
May 31, 2002 SBC Financial Corporation NY The Oneida Savings Bank
May 31, 2002 First Superior Credit Union WI Unitedone Credit Union
May 29, 2002 Alcoa Federal Credit Union IN Health Care Professionals Federal Credit Union
May 28, 2002 Charter National Bancorp, Inc. MI Charter-Michigan Bancorp, Inc.
May 28, 2002 True Blue Federal Credit Union WV West Virginia Federal Credit Union
May 25, 2002 Palomar Community Bank CA 1st Centennial Bank
May 23, 2002 Thomson Investment Company, Inc. IL Savanna-Thomson Investment, Inc.
May 23, 2002 Savanna State Bank IL Fidelity Bank
May 21, 2002 Erie Concrete Steel Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
May 21, 2002 Omega City Holding Company ND First Financial Corporation
May 18, 2002 Citizens Bank and Trust Company MS The Citizens Bank of Philadelphia
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Charter One Commercial NY Charter One Bank, National Association
May 17, 2002 Arvest Bank OK Arvest Bank
May 17, 2002 Independence Bank, National Association TX Regions Bank
May 17, 2002 Arvest Bank OK Arvest Bank
May 16, 2002 Prices Employees Federal Credit Union TX Mountain Star Federal Credit Union
May 16, 2002 I S E a Credit Union IA Greater Iowa Credit Union
May 15, 2002 The Bank of Parrish AL First National Bank
May 15, 2002 CPR — Credit Agricole Corporate and Investment Bank
May 15, 2002 Harbor Japanese Credit Union CA Jacom Credit Union
May 14, 2002 First Western Bank CA MUFG Union Bank, National Association
May 11, 2002 Community First Bank GA Truist Bank
May 10, 2002 The Bank of St. Charles County MO Allegiant Bank
May 9, 2002 Starpoint Central School Federal Credit Union NY Niagara Regional Federal Credit Union
May 9, 2002 The Yonkers Savings and Loan Association, F.A. NY Atlantic Bank of New York
May 9, 2002 Texas Guaranty Bank, National Association TX Prosperity Bank
May 6, 2002 FNB-Southwest, National Association VA FNB Salem Bank and Trust, National Association
May 6, 2002 FNB Mortgage Company CO First Main Street Bank, National Association
May 2, 2002 Williamstown Mutual Holding Company MA Mountainone Financial, MHC
May 1, 2002 Bank of Avoca NY Bath National Bank
May 1, 2002 Coastal Commerce Bankshares, Inc. LA Kaplan State Bank
May 1, 2002 Cushman Federal Credit Union NE Lincone Federal Credit Union
May 1, 2002 Freedom Area Schools Federal Credit Union PA Freedom United Federal Credit Union
May 1, 2002 Ampco Credit Union WI Guardian Credit Union
May 1, 2002 Michigan Railroaders Credit Union MI South Central Credit Union
May 1, 2002 Christ Hospital Federal Credit Union NJ Healthcare Employees Federal Credit Union
May 1, 2002 LTV Steel Employees Federal Credit Union IN Tech Credit Union
May 1, 2002 Allied Van Lines Employees Credit Union IL Credit Union 1
May 1, 2002 Metro East Credit Union IL Scott Credit Union
May 1, 2002 Apa Federal Credit Union DC Signal Financial 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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