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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
Oct 23, 2003 OCC Bank of China Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bank of China
Oct 23, 2003 OCC Bank of China Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bank of China
Oct 23, 2003 OCC_OTS Abacus Federal Savings Bank Cease and Desist: Abacus Federal Savings Bank
Oct 23, 2003 OCC Bank of America, N.A. Prohibition/Removal Orders: Anderson, Kristen
Oct 23, 2003 OCC_OTS Abacus Federal Savings Bank Civil Money Penalty: Abacus Federal Savings Bank
Oct 21, 2003 FRB Bank of Gassaway Written Agreement: Bank of Gassaway, Gassaway, WV
Oct 20, 2003 OCC Clear Lake National Bank Civil Money Penalty (CMP): Kinder, Nancy A.
Oct 20, 2003 OCC Clear Lake National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Kinder, Nancy A.
Oct 15, 2003 OCC Six Rivers National Bank Prohibition/Removal Orders: McCarthy, Susan Diehl
Oct 15, 2003 OCC Six Rivers National Bank Prohibition/Removal Orders: Ulrich, Gene
Oct 14, 2003 FRB Six Rivers National Bank Prohibition from Banking: Susan Diehl McCarthy
Oct 14, 2003 FRB Six Rivers National Bank Prohibition from Banking: Gene Ulrich
Oct 9, 2003 OCC Union National Bank of Franklinville Formal Agreement: The National Union Bank of Kinderhook
Oct 9, 2003 OCC Key Bank USA, N.A. Prohibition/Removal Orders: Marcano, Joey A.
Oct 9, 2003 OCC Kennett National Bank Formal Agreement: Kennett National Bank
Oct 2, 2003 OCC Unity National Bank of Houston Formal Agreement: Unity National Bank of Houston
Sep 26, 2003 FRB (individual) Written Agreement: First American Bank, Carpentersville, IL
Sep 25, 2003 FRB First Charter Bank Written Agreement: First Charter Bank, Charlotte, NC
Sep 23, 2003 FRB Premier Bankcard, LLC Written Agreement: United National Corporation, Sioux Falls, SD, First PREMIER Bank, Sioux Falls, SD …
Sep 22, 2003 OCC Fleetboston Financial Corporation Prohibition/Removal Orders: Benson, Timothy
Sep 22, 2003 OCC Hana Bank USA, N.A. Civil Money Penalty (CMP): Chung, Sam
Sep 22, 2003 OCC Hana Bank USA, N.A. Civil Money Penalty (CMP): Cardone, Daniel
Sep 22, 2003 OCC Fleetboston Financial Corporation C&D or PC&D Requiring Restitution: Benson, Timothy
Sep 16, 2003 OCC AMCORE Bank, N.A. Civil Money Penalty (CMP): Amcore Bank, National Association
Sep 16, 2003 OCC_OTS Genoa Savings and Loan Company Orders of Removal/Prohibition: Thomas R. Everett
Sep 11, 2003 FRB (individual) Cease and Desist Order: Craig Van Stone
Sep 4, 2003 OCC National Bank of Geneva Formal Agreement: National Bank of Geneva, The
Sep 4, 2003 OCC Bath National Corporation Formal Agreement: Bath National Bank
Sep 2, 2003 OCC Republic National Company Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Dryer, Cathy A.
Sep 2, 2003 OCC Six Rivers National Bank C&D or PC&D Requiring Restitution: Ulrich, Gene
Sep 2, 2003 OCC Six Rivers National Bank C&D or PC&D Requiring Restitution: McCarthy, Susan Diehl
Sep 2, 2003 OCC Six Rivers National Bank Civil Money Penalty (CMP): Ulrich, Gene
Sep 2, 2003 OCC Six Rivers National Bank Civil Money Penalty (CMP): McCarthy, Susan Diehl
Sep 2, 2003 OCC First National Bank & Trust Civil Money Penalty (CMP): First National Bank & Trust
Aug 28, 2003 FRB Ridgedale State Bank of Minnetonka Cease and Desist Order: Robert C. Arneson
Aug 27, 2003 FRB (individual) Cease and Desist Order: WestLB AG, Dusseldorf, Germany and WestLB, New York Branch, New …
Aug 27, 2003 FRB (individual) Civil Money Penalty $3,000,000: WestLB AG, Dusseldorf, Germany and WestLB, New York Branch, New …
Aug 27, 2003 OCC The First National Bank of Evant Formal Agreement: First NB of Evant
Aug 26, 2003 FRB Gold Trust Company Written Agreement: Gold Banc Corporation, Inc., Leawood, Kansas, and Gold Bank, Leawood, Kansas
Aug 15, 2003 OCC_OTS (individual) Orders of Removal/Prohibition: Roger A. Morr
Aug 11, 2003 OCC Bridgeview Bank, National Association Prohibition/Removal Orders: Carey, Sidney R.
Aug 11, 2003 FRB (individual) Civil Money Penalty $5,250: Community State Bank, Avilla, IN
Aug 5, 2003 OCC Forrest City Bank, National Association Formal Agreement: Forrest City Bank, National Association
Aug 1, 2003 OCC Delta National Bancorp Civil Money Penalty (CMP): Rossi, Andrew
Aug 1, 2003 OCC Delta National Bancorp Prohibition/Removal Orders: Rossi, Andrew
Jul 31, 2003 OCC Gladewater National Bank Formal Agreement: Gladewater National Bank
Jul 31, 2003 OCC Zions Bancorporation, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Cartright, Penelope Joy
Jul 31, 2003 OCC First Consumers National Bank Formal Agreement: First Consumers National Bank
Jul 30, 2003 OCC_OTS Life Financial Corporation Cease and Desist: W. Todd Peterson
Jul 30, 2003 OCC First National Bank Prohibition/Removal Orders: Moyers, Teresa Scott

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