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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
Aug 8, 2003 Bank One, West Virginia, National Association WV Bank One, National Association
Aug 8, 2003 Farmers Savings Bank IA Kerndt Brothers Savings Bank
Aug 8, 2003 Bank One, Wheeling-Steubenville, National Association WV Bank One, National Association
Aug 6, 2003 Transims Federal Credit Union NY Sunmark Credit Union
Aug 2, 2003 Federation Credit Union PA Eagle One Federal Credit Union
Aug 1, 2003 Sun Country Credit Union NM First Financial Credit Union
Aug 1, 2003 Premier Bancorp, Inc PA Fulton Financial Corporation
Aug 1, 2003 Valley Bancorp, Inc. AZ Marquette Financial Companies
Aug 1, 2003 Ut Student Federal Credit Union OH University of Toledo Federal Credit Union
Aug 1, 2003 Marion County Credit Union FL Gte Federal Credit Union dba Gte Financial
Aug 1, 2003 Greater Grace Temple Federal Credit Union MI Michigan First Credit Union
Aug 1, 2003 Utah Copper Employees Credit Union UT Mountain America Federal Credit Union
Aug 1, 2003 Meadow Brook Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
Aug 1, 2003 U.S. Trust Company of North Carolina NC U.S. Trust Company, National Association
Aug 1, 2003 LC Federal Credit Union PA Scranton Downtown Federal Credit Union
Aug 1, 2003 CambridgePort Bank MA Citizens Bank of Massachusetts
Aug 1, 2003 Pacesetter Credit Union MO United Consumers Credit Union
Aug 1, 2003 Aiea Federal Credit Union HI Hawaiian Financial Federal Credit Union
Jul 31, 2003 Martin County Fidelity Bancshares Company MN Profinium Financial Holdings, Inc.
Jul 31, 2003 Latvian Credit Union MA Tremont Credit Union
Jul 31, 2003 Ukrainian Credit Union WI Educators Credit Union
Jul 31, 2003 Plan Credit Union MA Tremont Credit Union
Jul 30, 2003 First Security Corporation MN Servus Financial Corporation
Jul 25, 2003 Kenwood Savings Bank OH Peoples Community Bank
Jul 25, 2003 First Commerce Bank NC Bank of Granite
Jul 25, 2003 First American Bank MS Liberty Bank and Trust Company
Jul 22, 2003 Fidelity Federal Savings Bank IL Midamerica Bank, FSB
Jul 19, 2003 Hawkeye State Bank IA West Bank
Jul 19, 2003 Today's Bank WA Riverview Bank
Jul 18, 2003 First Choice Community Federal Credit Union CO Bellco Credit Union
Jul 16, 2003 First Commerce Corporation NC Bank of Granite Corporation
Jul 16, 2003 Pend Oreille Bancorp ID Glacier Bancorp, Inc.
Jul 16, 2003 Fall River Herald News Employees Federal Credit Union MA Fall River Municipal Credit Union
Jul 16, 2003 Pend Oreille Bank ID Mountain West Bank
Jul 15, 2003 Central National Investment, Inc. KS Central National Bank
Jul 14, 2003 First State Bank of Emmons MN Security Bank Minnesota
Jul 12, 2003 First Continental Bank CA United Commercial Bank
Jul 12, 2003 Central Sierra Bank CA Central California Bank
Jul 12, 2003 South Carolina Bank and Trust of the Pee Dee, National Association SC South State Bank
Jul 12, 2003 Farmers State Bank of Silver Creek NE Bank of Clarks
Jul 11, 2003 Advance Bank IL Charter One Bank, National Association
Jul 11, 2003 White Plains Teachers Federal Credit Union NY Educational and Governmental Employees Federal Credit Union
Jul 11, 2003 State Bank of Kingsville TX Bank of South Texas
Jul 9, 2003 MSB Shares, Inc. AR Liberty Bancshares, Inc
Jul 4, 2003 Southland Business Bank CA Vineyard Bank, N.A.
Jul 4, 2003 Allfirst Financial Center National Association DE Manufacturers and Traders Trust Company
Jul 2, 2003 First Virginia Banks, Inc. VA Truist Financial Corporation
Jul 2, 2003 Va New England Federal Credit Union MA Hanscom Federal Credit Union
Jul 1, 2003 Daily Times Employees Fcu PA Sun East Federal Credit Union
Jul 1, 2003 Barnard & Burk Federal Credit Union LA Breco Federal Credit Union

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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