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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
Jun 14, 2003 The Munford Union Bank TN First Citizens National Bank
Jun 14, 2003 American National Bank NE American National Bank
Jun 14, 2003 Allfirst Trust Company of Pennsylvania, N.A. PA Manufacturers and Traders Trust Company
Jun 14, 2003 Allfirst Trust Company N.A. VA Manufacturers and Traders Trust Company
Jun 14, 2003 Founders Bank MO Bank Midwest, N.A.
Jun 14, 2003 The Peoples State Bank KY Citizens Union Bank of Shelbyville
Jun 13, 2003 Upbancorp, Inc. IL Bridgeview Bancorp, Inc.
Jun 13, 2003 RVB Bancshares, Inc. AR Bank of the Ozarks Inc
Jun 13, 2003 River Valley Bank AR Bank OZK
Jun 13, 2003 (unnamed) — Keystone Bank
Jun 11, 2003 Murfreesboro Bancorp, Inc. TN FB Financial Corporation
Jun 11, 2003 Bank of Murfreesboro TN FirstBank
Jun 9, 2003 Union Planters Bank of Northwest Tennessee FSB TN Union Planters Bank, National Association
Jun 7, 2003 Berean Bank PA Advance Bank
Jun 7, 2003 The Commonwealth Bank VA First Community Bank
Jun 6, 2003 Advance Bancorp, Inc. IL Charter One Financial, Inc.
Jun 5, 2003 Gaylord Employees Tampa Federal Credit Union FL Trax Federal Credit Union
Jun 5, 2003 Gardner Credit Union IL Fort Financial Federal Credit Union
Jun 2, 2003 Charter 1 Bank MO Legends Bank
Jun 2, 2003 Lighthouse Community Bank SC Suntrust Bank
Jun 2, 2003 Efco Federal Credit Union PA Tri County Area Federal Credit Union
Jun 1, 2003 Keystone Historical Federal Credit Union PA Service 1st Federal Credit Union
Jun 1, 2003 BankDallas, SSB TX Prosperity Bank
Jun 1, 2003 (unnamed) — Legacy Banks
Jun 1, 2003 U.S. Trust Company CT U.S. Trust Company, National Association
Jun 1, 2003 Dir Credit Union VA Partners Financial Federal Credit Union
Jun 1, 2003 CM Federal Credit Union NJ New Jersey Community Federal Credit Union
Jun 1, 2003 GBC Employees Federal Credit Union PA Pagoda Federal Credit Union
Jun 1, 2003 Wisconsin Boys School Wales Credit Union WI Prime Financial Credit Union
Jun 1, 2003 Tokheim Employees Credit Union IN Partners 1st Federal Credit Union
Jun 1, 2003 Haymarket Credit Union IL Credit Union 1
Jun 1, 2003 Valley Community Federal Credit Union WA Sound Credit Union
Jun 1, 2003 Worth Community Credit Union IL Northstar Credit Union
Jun 1, 2003 Amana Employees Credit Union IA Community 1st Credit Union
Jun 1, 2003 Saha Credit Union TX Southside Credit Union
Jun 1, 2003 Vernonia Federal Credit Union OR Wauna Federal Credit Union
Jun 1, 2003 N-P Employees Credit Union SC Spero Financial Federal Credit Union
Jun 1, 2003 Steering Federal Credit Union AL Family Security Credit Union
Jun 1, 2003 Bay State Federal Savings Bank MA Compass Bank for Savings
Jun 1, 2003 Ross-Loos Federal Credit Union CA Northrop Grumman Federal Credit Union
May 31, 2003 Clear Lake National Bank TX Lone Star Capital Bank, National Association
May 31, 2003 GCCC, Inc. OH Charter One Bank, National Association
May 31, 2003 Banc Services Corp. OH Wayne Bancorp, Inc.
May 31, 2003 City National Bank and Trust Company, Hastings, Nebraska NE Heritage Bank
May 30, 2003 Great Western Bank SD Great Western Bank
May 24, 2003 The Bank of Laramie, National Association WY The American National Bank
May 24, 2003 CNB Holdings, Inc. VA Mountainbank Financial Corporation
May 24, 2003 Wyoming Bank and Trust Company, National Association WY The American National Bank
May 24, 2003 Stockgrowers State Bank, National Association WY The American National Bank
May 23, 2003 First Colony Bancshares, Inc. GA Main Street Banks, Inc.

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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