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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
Oct 21, 2003 GBC Bancorp CA Cathay General Bancorp
Oct 19, 2003 GLB Bancorp, Inc. OH SKY Financial Group, Inc.
Oct 18, 2003 Avery County Bank NC First-Citizens Bank & Trust Company
Oct 18, 2003 First Ridge Farm State Bank IL First Financial Bank, N.A.
Oct 18, 2003 Bell Federal Savings and Loan Association PA Northwest Bank
Oct 17, 2003 North Oakland Community Bank MI Community Central Bank
Oct 17, 2003 Pinnacle State Bank SC Arthur State Bank
Oct 17, 2003 (unnamed) — Centrue Bank
Oct 16, 2003 UBS (USA) Inc. CT UBS Americas Inc.
Oct 16, 2003 York Citizens Federal Credit Union AL Tuscaloosa Va Federal Credit Union
Oct 15, 2003 Lincoln National Bancorporation OK BancFirst Corporation
Oct 14, 2003 Pleasanton State Bank NE Town & Country Bank
Oct 11, 2003 First Virginia Bank - Colonial VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Coast Community Bancshares, Inc. MS Community Bancshares of Mississippi, Inc.
Oct 11, 2003 Sequoia Bancshares, Inc. MD Ubv Holding Company, LLC
Oct 11, 2003 Southern Exchange Bank FL First National Bank of Florida
Oct 11, 2003 First Vantage Bank /Tri-Cities VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Farmers Bank of Maryland MD Truist Bank
Oct 11, 2003 First Virginia Bank - Hampton Roads VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Liberty State Bank MN First Federal Capital Bank
Oct 11, 2003 First Virginia Bank VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 First Virginia Bank - Blue Ridge VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Sequoia Bank MD United Bank
Oct 11, 2003 First Virginia Bank-Southwest VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Atlantic Bank MD Truist Bank
Oct 10, 2003 Valley Bank of Arizona AZ Meridian Bank, National Association
Oct 9, 2003 Aviston Financial Corporation IL Centrue Financial Corporation
Oct 9, 2003 Floodwood Agency, Inc. MN Finlayson Bancshares, Inc.
Oct 4, 2003 Suburban Community Bank PA Univest Bank and Trust Co.
Oct 4, 2003 The First National Bank of Grove OK The First National Bank and Trust Company of Vinita
Oct 3, 2003 Document Processing & Imaging Corporation ND Frandsen Financial Corporation
Oct 3, 2003 MountainBank NC Carolina First Bank
Oct 3, 2003 Mountainbank Financial Corporation NC The South Financial Group, Inc.
Oct 3, 2003 The Garber Employees Credit Union, Inc. OH Ashland Community Federal Credit Union
Oct 2, 2003 First National Bank of Bellaire TX Tradition Bank - Bellaire
Oct 2, 2003 Cedar Valley State Bank IA Valley Bank
Oct 2, 2003 Eloise Credit Union MI Chief Financial Federal Credit Union
Oct 1, 2003 Cambria-Somerset C O G Federal Credit Union PA Healthcare First Credit Union
Oct 1, 2003 Bismarck Telco Federal Credit Unin ND Railway Credit Union
Oct 1, 2003 Saint Ignatius Parish Credit Union, Inc. OH Firefighters Community Cu
Oct 1, 2003 Enfield Federal Credit Union CT Enfield Community Federal Credit Union
Oct 1, 2003 Johnson City Federal Employees Credit Union TN Greater Experience Credit Union
Oct 1, 2003 Cooperative Federal Credit Union NY Consumers Federal Credit Union
Oct 1, 2003 Washco Community Credit Union OR First Community Credit Union
Oct 1, 2003 First Bank, bc IL Blackhawk Bank
Oct 1, 2003 Basf Employee Federal Credit Union SC S.C. State Federal Credit Union
Oct 1, 2003 Blue Ridge Federal Credit Union VA Kemba Roanoke Federal Credit Union
Oct 1, 2003 Volunteer Federal Credit Union TN New South Credit Union
Oct 1, 2003 Gentelco West Federal Credit Union CA Pacific Community Credit Union
Oct 1, 2003 The First National Bank of Coulterville IL First State Bank of Campbell Hill

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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