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Calendar Year

2003 in US Banking

1,018 bank events are on record for 2003: 3 failures, 751 mergers or acquisitions involving a bank, credit union or bank holding company, and 264 enforcement actions.

3
Failures
$947.3M in failed assets
751
Mergers
Federal Reserve NIC, banking organizations
264
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings

Jump to: Bank failures 2003 · Bank mergers 2003

How many banks failed in 2003?

3 banks failed in 2003, with $947.3M in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Nov 14, 2003 Pulaski Savings Bank Philadelphia, PA $8.5M Earthstar Bank
May 9, 2003 The First National Bank of Blanchardville Blanchardville, WI $34.5M The Park Bank
Feb 7, 2003 Southern Pacific Bank Torrance, CA $904.3M Beal Bank S.S.B.

Which banks merged in 2003?

751 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 2003.

See the fuller list: Bank mergers 2003 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Dec 31, 2003 The Fifth Third Bank of Northern Kentucky, Inc. KY Fifth Third Bank
Dec 31, 2003 BW Holdings, Inc. CO Bankvest, Inc.
Dec 31, 2003 Block Capital Management ME Bar Harbor Trust Services
Dec 31, 2003 First National Trust Company PA First National Bank of Pennsylvania
Dec 31, 2003 Mortgage Express Corporation KY Citizens Commerce Bank
Dec 31, 2003 Fifth Third Investment Advisors, Inc. IN Fifth Third Financial Corporation
Dec 31, 2003 Covest Bancshares, Inc. IL First Midwest Bancorp, Inc.
Dec 31, 2003 The Maddox Corporation GA First State Bancshares of Blakely, Inc.
Dec 31, 2003 Providian Bank UT Providian National Bank
Dec 31, 2003 Winnebago Acceptance Corporation GA Bank of America, N.A.
Dec 31, 2003 Sea Ray Credit Corporation GA Bank of America, N.A.
Dec 31, 2003 Banc of America Speciality Finance, Inc. GA Bank of America, N.A.
Dec 31, 2003 Fleetwood Credit Corp. GA Bank of America, N.A.
Dec 31, 2003 C&S Premises, Inc. GA NB Holdings Corporation
Dec 31, 2003 Commercesouth, Inc. AL Banctrust Financial Group, Inc.
Dec 31, 2003 Fifth Third Bank, Florida FL Fifth Third Bank
Dec 31, 2003 Corn Belt Bancorporation IA First Fontanelle Bancorporation
Dec 31, 2003 Jacksonville Savings Bank, SSB TX Franklin Bank, S.S.B.
Dec 31, 2003 The Broadway National Bank of Chelsea MA Boston Federal Savings Bank
Dec 31, 2003 Bethany Baptist Church Credit Union OH Antioch Baptist Church Credit Union, Inc.
Dec 31, 2003 Kawa Credit Union, Inc. KY K I T Federal Credit Union
Dec 31, 2003 Fifth Third Bank, Indiana IN Fifth Third Bank
Dec 31, 2003 Northwestern University Employees Credit Union IL First Northern Credit Union
Dec 31, 2003 Fifth Third Bank, Kentucky, Inc. KY Fifth Third Bank
Dec 31, 2003 Tri-County Postal Federal Credit Union IL Numark Credit Union
Dec 31, 2003 Greater New Light Baptist Credit Union, Inc. OH Trupartner Credit Union, Inc.
Dec 29, 2003 Worthington Bancorporation IA State Bank
Dec 24, 2003 The Lenox Savings Bank OH Foundation Bank
Dec 23, 2003 South Texas Capital Group, Inc. TX Sterling Bancorporation, LLC
Dec 20, 2003 The First National Bank of O'Donnell TX The State National Bank of Big Spring
Dec 20, 2003 Westville Community Federal Credit Union IL Landmark Credit Union
Dec 18, 2003 NVF Company Employees Federal Credit Union DE Louviers Federal Credit Union
Dec 17, 2003 World Federal Credit Union GA Georgia United Credit Union
Dec 15, 2003 HomeTowne Heritage Bank PA National Penn Bank
Dec 15, 2003 First Mustang Corporation OK All America Bank
Dec 13, 2003 Great Lakes Bank OH SKY Bank
Dec 13, 2003 Auburn Community Bancorp CA Western Sierra Bancorp
Dec 13, 2003 Windsor Locks Community Bank, FSL CT Enfield Federal Savings and Loan Association
Dec 12, 2003 Security Bank National Association TX Citibank Texas, National Association
Dec 10, 2003 First State Bank of North Texas TX Prosperity Bank
Dec 8, 2003 Community Financial Group, Inc. AR CB Bancorp Inc
Dec 8, 2003 Victory-Masonic Mutual Credit Union NC Truliant Federal Credit Union
Dec 6, 2003 Hawthorn Bank IL State Financial Bank, National Association
Dec 6, 2003 Anchor Bank IL State Financial Bank, National Association
Dec 6, 2003 Bank of Grand Junction CO Wells Fargo Bank, N.A.
Dec 6, 2003 Superior Bank, FSB AR Arvest Bank
Dec 6, 2003 Superior Financial Corp AR Arvest Holdings, Inc.
Dec 6, 2003 Hawthorn Corporation IL State Financial Services Corporation
Dec 6, 2003 Lakes Region Bancorp, Inc. IL State Financial Services Corporation
Dec 5, 2003 Pittsburgh Savings Bank PA First Commonwealth Bank

The list holds 500 of the 751 mergers recorded for 2003.

Enforcement Actions in 2003

Action date Agency Institution Action
Dec 30, 2003 OCC Security Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Security Trust Company, National Association
Dec 22, 2003 FRB Canadian Imperial Bank of Commerce Written Agreement: Canadian Imperial Bank of Commerce, Toronto, Ontario
Dec 22, 2003 OCC SNB Bank, N.A. Civil Money Penalty (CMP): Stuart, James Michael
Dec 22, 2003 OCC Hamilton Bank, N.A. C&D or PC&D Requiring Restitution: Masferrer, Eduardo
Dec 22, 2003 OCC Hamilton Bank, N.A. Civil Money Penalty (CMP): Masferrer, Eduardo
Dec 22, 2003 OCC Hamilton Bank, N.A. Prohibition/Removal Orders: Masferrer, Eduardo
Dec 19, 2003 FRB Combanc, Inc. Written Agreement: Combanc, Delphos, OH and The Commercial Bank, Delphos, OH
Dec 18, 2003 OCC The First National Bank of Cambridge Formal Agreement: The First National Bank of Cambridge
Dec 18, 2003 OCC Bank One Trust Company, N.A. Prohibition/Removal Orders: Hall, Bianca C.
Dec 18, 2003 FRB Credit Lyonnais Civil Money Penalty 100,000,000: Credit Lyonnais, S.A.Paris, France
Dec 18, 2003 FRB Credit Lyonnais Cease and Desist Order: Credit Lyonnais, S.A.Paris, France
Dec 18, 2003 OCC First National Bank Colorado Formal Agreement: First National Bank - Colorado
Dec 17, 2003 OCC First National Bank in Homer Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank in Homer
Dec 16, 2003 FRB Credit Agricole S.A. Written Agreement: Credit Agricole, S.A.Paris, France
Dec 15, 2003 OCC First Community Bank and Trust Civil Money Penalty (CMP): Washburn, Kevin Brent
Dec 15, 2003 OCC First Community Bank and Trust Prohibition/Removal Orders: Washburn, Kevin Brent
Dec 15, 2003 OCC Dillard National Bank Formal Agreement: Dillard National Bank
Dec 12, 2003 OCC Wells Fargo Bank, National Association Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Smith-Kirk, Wendi
Dec 8, 2003 OCC Citizens National Bank of Albion C&D or PC&D Requiring Restitution: Hanneken, Gregory J.
Dec 1, 2003 OCC_OTS Commercial Federal Bank, a Federal Savings Bank Orders of Removal/Prohibition: Jess D. Wehri
Dec 1, 2003 OCC First Central Bank McCook Formal Agreement: First Central Bank McCook, National Association
Nov 26, 2003 OCC Bank of America, N.A. Prohibition/Removal Orders: Zolezzi, Paul
Nov 25, 2003 FRB Provident Bank Civil Money Penalty $34,100: Provident Bank, Cincinnati, OH
Nov 25, 2003 FRB The Bank of Currituck Civil Money Penalty $16,000: The Bank of Currituck, Moyock, NC
Nov 24, 2003 OCC Security Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Security Trust Company, National Association
Nov 24, 2003 OCC First National Bank of Northern Kentucky C&D or PC&D Requiring Restitution: Thomas, Richard M.
Nov 24, 2003 OCC First National Bank of Northern Kentucky Civil Money Penalty (CMP): Thomas, Richard M.
Nov 24, 2003 OCC First National Bank of Northern Kentucky Prohibition/Removal Orders: Thomas, Richard M.
Nov 21, 2003 FRB Mellon Bank, N. A. Prohibition from Banking: Garfield C. Brown, Jr.
Nov 21, 2003 OCC BNY Mellon, N.A. Prohibition/Removal Orders: Brown, Garfield C.
Nov 20, 2003 OCC The First National Bank of Marquette Formal Agreement: The First National Bank of Marquette
Nov 20, 2003 OCC United Bank of Arizona Formal Agreement: United Arizona Bank, National Association
Nov 20, 2003 OCC The First National Bank of Paonia Formal Agreement: The First National Bank of Paonia
Nov 19, 2003 FRB Putnam County Bank Written Agreement: Putnam County Bank, Hurricane, WV
Nov 19, 2003 OCC Clear Lake National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Clear Lake National Bank
Nov 13, 2003 OCC_OTS Commercial Pacific Savings and Loan Association Termination of Cease and Desist: Daniel K. Dowling
Nov 13, 2003 OCC National City Corporation Civil Money Penalty (CMP): National City Bank
Nov 13, 2003 OCC_OTS Life Financial Corporation Cease and Desist: Robert K. Riley
Nov 13, 2003 OCC Dillard National Bank Formal Agreement: Dillard National Bank
Nov 10, 2003 OCC First Community Bank and Trust Civil Money Penalty (CMP): Benson, Wayne H.
Nov 10, 2003 OCC First Community Bank and Trust Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Benson, Wayne H.
Nov 7, 2003 OCC Clear Lake National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Clear Lake National Bank
Nov 7, 2003 OCC Clear Lake National Bank C&D or PC&D Requiring Restitution: Clear Lake National Bank
Nov 6, 2003 OCC BNY Mellon, N.A. C&D or PC&D Requiring Restitution: Brown, Garfield C.
Oct 31, 2003 OCC Hamilton Bank, N.A. C&D or PC&D Requiring Restitution: Bernace, Carlos
Oct 31, 2003 OCC Hamilton Bank, N.A. Prohibition/Removal Orders: Bernace, Carlos
Oct 31, 2003 OCC Hamilton Bank, N.A. Civil Money Penalty (CMP): Bernace, Carlos
Oct 30, 2003 FRB Gulf Bank Civil Money Penalty $4,550: Gulf Bank, Miami, FL
Oct 29, 2003 OCC (individual) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Lee, Stephen
Oct 29, 2003 OCC Security Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Security Trust Company, National Association

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