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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
Nov 1, 2003 Maincorp Intermediate Holding Company, Inc. DE Prosperity Holdings, Inc.
Nov 1, 2003 Houston Commercial Bank TX Enterprise Bank
Nov 1, 2003 Southwest Bank IL Southwest Bank, An M&I Bank
Nov 1, 2003 Roslyn Bancorp, Inc. NY Flagstar Financial, Inc.
Nov 1, 2003 Mainbancorp, Inc. TX Prosperity Bancshares, Inc.
Nov 1, 2003 U.S. Trust Company of Texas, National Association TX U.S. Trust Company, National Association
Nov 1, 2003 Marble Falls National Bancshares, Inc. TX North American Bancshares, Inc.
Nov 1, 2003 Community Bancorp, Inc. MA Citizens Financial Group, Inc.
Nov 1, 2003 Nazareth National Bank and Trust Company PA Keystone Nazareth Bank & Trust Company
Nov 1, 2003 Coffeyville Teachers Credit Union KS Kansas Teachers Community Credit Union
Nov 1, 2003 The Commercial Bank MS United Mississippi Bank
Nov 1, 2003 Pioneer Bank, a Federal Savings Bank OR FirstBank Northwest
Nov 1, 2003 MainBank, National Association TX Prosperity Bank
Nov 1, 2003 IBEW-702 Federal Credit Union IL Siu Credit Union
Nov 1, 2003 James River Valley Federal Credit Union SD Area Federal Credit Union
Nov 1, 2003 American Sterilizer Employees Federal Credit Union PA Americo Federal Credit Union
Nov 1, 2003 Ocean County Postal Employees Federal Credit Union NJ First Harvest Federal Credit Union
Nov 1, 2003 Community National Bank MA Citizens Bank of Massachusetts
Nov 1, 2003 The Roslyn Savings Bank NY Flagstar Bank, N.A.
Nov 1, 2003 Rocky Mountain Employees Credit Union CO Advancial Federal Credit Union
Nov 1, 2003 Ojai Valley Bank CA Mid-State Bank & Trust
Nov 1, 2003 BankTrust of Brewton AL BankTrust
Nov 1, 2003 J&J Employee Credit Union TX MY Credit Union
Nov 1, 2003 Alpha Community Credit Union NC Piedmont Advantage Credit Union
Nov 1, 2003 First State Bank of Sinai SD Citizens State Bank of Arlington
Nov 1, 2003 Sullivan County Employees Credit Union TN Eastman Credit Union
Nov 1, 2003 O-SCC-VS Employee Federal Credit Union KY L&N Federal Credit Union
Nov 1, 2003 Providence Va Hospital Federal Credit Union RI Postal Government Employees Federal Credit Union
Nov 1, 2003 Metropacific Community Credit Union WA Qualstar Credit Union
Nov 1, 2003 Parker Elgin Federal Credit Union OH Pillar Credit Union, Inc
Nov 1, 2003 Dunlop Credit Union AL Family Security Credit Union
Nov 1, 2003 Traditions Credit Union WA Community 1st Credit Union
Oct 31, 2003 Cam - Co Transit Federal Credit Union PA G.A.P. Federal Credit Union
Oct 31, 2003 Metuchen-Edison Federal Credit Union NJ United Teletech Financial Federal Credit Union
Oct 31, 2003 Our Lady of Good Counsel Parish Credit Union IL Oak Trust Credit Union
Oct 31, 2003 First Colonial Group, Inc. PA KNBT Bancorp Inc.
Oct 31, 2003 Bank of Lecompte LA Red River Bank
Oct 31, 2003 W W M Federal Credit Union PA Usx Federal Credit Union
Oct 31, 2003 Deuel County State Bank NE Points West Community Bank
Oct 31, 2003 Coastline Community Credit Union CA Orange County's Federal Credit Union
Oct 27, 2003 Raccoon Valley State Bank IA Raccoon Valley Bank
Oct 27, 2003 Dallas Investment Company IA Perry Investment Company
Oct 25, 2003 The Martin County National Bank of Fairmont MN Profinium, Inc.
Oct 24, 2003 Fredericktown Bank & Trust Company MD Farmers & Mechanics Bank
Oct 24, 2003 Sarasota Bancorporation, Inc. FL The Colonial Bancgroup, Inc.
Oct 23, 2003 American National Bank IA American National Bank
Oct 23, 2003 Page State Bank ND Quality Bank
Oct 23, 2003 Page Bank Holding Company ND Quality Bankshares, Inc.
Oct 21, 2003 Western Bank & Trust National Association IA American National Bank
Oct 21, 2003 General Bank CA Cathay 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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