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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
Jul 1, 2003 Columbus Southside Federal Credit Union OH Bmi Federal Credit Union
Jul 1, 2003 Are Fcu PA Superior Credit Union
Jul 1, 2003 United Florists Federal Credit Union CO Metrum Community Credit Union
Jul 1, 2003 T & C Credit Union, Inc. OH Canton School Employees Federal Credit Union
Jul 1, 2003 All-Steel Empl Fcu PA Choice One Community Federal Credit Union
Jul 1, 2003 Blue Flame Credit Union TN Blue Flame Credit Union
Jul 1, 2003 Greensburg Federal Credit Union PA U.A.L.U. 354 Federal Credit Union
Jul 1, 2003 TWH Credit Union MA Metro Credit Union
Jul 1, 2003 Reynolds Federal Credit Union PA Citadel Federal Credit Union
Jul 1, 2003 Mata Federal Credit Union TN Orion Federal Credit Union
Jul 1, 2003 US Customs Service Federal Credit Union DC Treasury Department Federal Credit Union
Jul 1, 2003 Farmland Industries Credit Union MO Communityamerica Federal Credit Union
Jul 1, 2003 Local 453 Maryland Federal Credit Union MD Act 1st Federal Credit Union
Jul 1, 2003 Maxim Bank TX Amegy Bank National Association
Jul 1, 2003 The Savings Bank and Trust Company OH Savings Bank & Trust
Jul 1, 2003 Lancaster First Federal Credit Union OH Lan-Fair Federal Credit Union
Jul 1, 2003 Monterey Bay Bank CA MUFG Union Bank, National Association
Jul 1, 2003 Marion County Teachers Federal Credit Union MS Centuryfirst Federal Credit Union
Jul 1, 2003 West Tex NM Federal Credit Union TX Heritage USA Federal Credit Union
Jul 1, 2003 Texas Steel Employee Credit Union TX MY Credit Union
Jul 1, 2003 West Essex Bank, FSB NJ Kearny Bank
Jul 1, 2003 C P Lutheran Cu PA Belco Community Credit Union
Jul 1, 2003 Kern's London Federal Credit Union KY L&N Federal Credit Union
Jul 1, 2003 The Bank of Yellville AR Arvest Bank
Jul 1, 2003 Gateway Credit Union MI Frankenmuth Credit Union
Jul 1, 2003 Crown Central Credit Union OR Oregonians Credit Union
Jul 1, 2003 Safhoneca Federal Credit Union PA GNC Community Federal Credit Union
Jul 1, 2003 Mountain Bancshares, Inc. AR Arvest Holdings, Inc.
Jul 1, 2003 Johnson Trust Company WI Johnson Bank
Jul 1, 2003 Freedom Trust Company NH First Financial Trust N.A.
Jul 1, 2003 First Bank & Trust TX GNB Financial, National Association
Jul 1, 2003 Mellon Growth Advisors LLC MA Mellon Trust of New England, National Association
Jun 30, 2003 Omal Plant Employees Credit Union, Inc. OH Ohio Valley Community Federal Credit Union
Jun 30, 2003 Comerica Bank - Texas TX Comerica Bank
Jun 30, 2003 Comerica Bank-California CA Comerica Bank
Jun 30, 2003 Riverview Community Employees Credit Union MI Shore to Shore Community Federal Credit Union
Jun 30, 2003 Millbrook Federal Credit Union AR Telcoe Federal Credit Union
Jun 28, 2003 The Farmers and Merchants State Bank KS American State Bank & Trust Company
Jun 28, 2003 American State Bancshares, Inc. KS American State Bancshares, Inc.
Jun 28, 2003 Progressive Bank, N.A. - Buckhannon WV Progressive Bank, N.A.
Jun 28, 2003 The United Banking Company GA Farmers & Merchants Bank
Jun 25, 2003 Mill Creek Bank UT Synchrony Bank
Jun 23, 2003 Industrial Credit Union NC Generations Community Credit Union
Jun 23, 2003 First Colony Bank GA Main Street Bank
Jun 20, 2003 First Federal Savings Bank of Ironton OH Classic Bank
Jun 20, 2003 Security Federal Bank & Trust IN Standard Bank and Trust Company
Jun 20, 2003 Uptown National Bank of Chicago IL Bridgeview Bank Group
Jun 19, 2003 Laguna Bancshares, Inc. TX K&T Financial Corporation
Jun 19, 2003 Laguna Bancshares of Delaware, Inc. DE K&T Financial Corporation
Jun 16, 2003 Citizens Bank and Trust Company IA MidWestOne 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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