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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
Dec 5, 2003 Pittsburgh Financial Corp. PA First Commonwealth Financial Corporation
Dec 5, 2003 Sarasota Bank FL Colonial Bank
Dec 2, 2003 Caledonia Financial Corporation MI TCF Financial Corporation
Dec 1, 2003 Halekulani Federal Credit Union HI Hawaiian Financial Federal Credit Union
Dec 1, 2003 The Greenwich Bank & Trust Company CT Connecticut Community Bank, N.A.
Dec 1, 2003 Valley Communities Federal Credit Union MI United Financial Credit Union
Dec 1, 2003 Montgomery County Employees Credit Union PA American Heritage Federal Credit Union
Dec 1, 2003 American Metal Hose Employee Federal Credit Union CT Waterbury Connecticut Teachers Federal Credit Union
Dec 1, 2003 St. Francis Bank, F.S.B. WI Midamerica Bank, FSB
Dec 1, 2003 Catholic Credit Union TX Saint Joseph's Credit Union
Dec 1, 2003 Sho-Pan-Hi Federal Credit Union ID Icon Credit Union
Dec 1, 2003 Electrical Workers Credit Union, Inc. OH Pathways Financial Credit Union, Inc.
Dec 1, 2003 Hammermill Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2003 Al Tech Federal Credit Union NY Greater Chautauqua Federal Credit Union
Dec 1, 2003 S E S E Federal Credit Union CA Sunnyvale Federal Credit Union
Nov 30, 2003 Montana Media Credit Union MT Altana Federal Credit Union
Nov 30, 2003 Ackerman Credit Union, Inc. OH Kemba Financial Credit Union, Inc.
Nov 30, 2003 First National Bank IL First Financial Bank, N.A.
Nov 29, 2003 Kansas Farm Bureau Employees Credit Union KS Kansas State University Federal Credit Union
Nov 28, 2003 Bom Comloan, Inc. NV Bank One, National Association
Nov 27, 2003 Alabama Gas Credit Union AL 1st Resource Credit Union
Nov 27, 2003 St. Clair County Teachers Credit Union IL Vantage Credit Union
Nov 22, 2003 Grange National Banc Corp. PA Community Financial System, Inc.
Nov 22, 2003 Associated Bank Illinois, National Association IL Associated Bank, N.A.
Nov 22, 2003 Montana First National Bank MT First Montana Bank, Inc.
Nov 22, 2003 Grange National Bank PA Community Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Texas, National Association TX Wells Fargo Bank, N.A.
Nov 21, 2003 Rutherford Bank and Trust TN GreenBank
Nov 21, 2003 Independent Bankshares Corporation TN Green Bankshares, Inc.
Nov 21, 2003 First Independent Bank TN GreenBank
Nov 21, 2003 Averitt Express Savings Association Credit Union TN Southeast Financial Credit Union
Nov 21, 2003 Wells Fargo Bank West, National Association CO Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Nebraska, National Association NE Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Montana, National Association MT Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Alaska, National Association AK Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Wyoming, National Association WY Wells Fargo Bank, N.A.
Nov 18, 2003 Modesto Commerce Bank CA Bank of Stockton
Nov 18, 2003 Tuscaloosa Community Federal Credit Union AL Secure First Credit Union
Nov 18, 2003 Buffalo Telephone Employees Federal Credit Union NY The Summit Federal Credit Union
Nov 17, 2003 Memphis Nitrogen Federal Credit Union TN Southern Security Federal Credit Union
Nov 14, 2003 District 8 Federal Credit Union CO Air Academy Federal Credit Union
Nov 14, 2003 Community Bank of Kentucky, Inc. KY Your Community Bank
Nov 12, 2003 Dyno Employees NY Federal Credit Union NY Mid-Hudson Valley Federal Credit Union
Nov 10, 2003 First Heartland Bancorp IA Conover Bancorporation
Nov 8, 2003 The North American Bank and Trust Company CT Webster Bank, N.A.
Nov 8, 2003 Citizens Bank of Texas, National Association TX First Victoria National Bank
Nov 7, 2003 First Federal Savings Bank KY Kentucky Bank
Nov 7, 2003 Atlantic Savings Bank, F.S.B. SC Wachovia Bank, N.A.
Nov 3, 2003 Kaydon 6-G Federal Credit Union TN Hurd Employees Credit Union
Nov 3, 2003 Renaissance Federal Credit Union PA Omega Federal Credit Union

The list holds 500 of the 751 mergers recorded for 2003.

Enforcement Actions in 2003

Action date Agency Institution Action
Jul 30, 2003 OCC First National Bank Prohibition/Removal Orders: Winfrey, Deborah Jean
Jul 29, 2003 FRB Ridgedale State Bank of Minnetonka Written Agreement: Ridgedale State Bank, Minnetonka, Minnesota
Jul 28, 2003 OCC KeyCorp C&D or PC&D Requiring Restitution: Horne, Michelle V.
Jul 28, 2003 FRB J.P. Morgan Chase Interim National Bank Written Agreement: J.P. Morgan Chase & Co., New York, NY
Jul 28, 2003 FRB Citigroup Inc. Written Agreement: Citigroup, Inc., New York, NY
Jul 28, 2003 OCC Wachovia Bank, N.A. Prohibition/Removal Orders: Reed, Thomas K.
Jul 28, 2003 OCC KeyCorp Prohibition/Removal Orders: Horne, Michelle V.
Jul 28, 2003 OCC Citibank, N.A. Formal Agreement: Citibank, N.A.
Jul 28, 2003 OCC Wachovia Bank, N.A. Civil Money Penalty (CMP): Reed, Thomas K.
Jul 25, 2003 FRB Consolidated Holding Company Amendment to 09/05/2000 Written Agreement: Consolidated Bank and Trust Company, Richmond, VA
Jul 16, 2003 OCC Riggs National Trust Company Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Riggs Bank National Association
Jul 10, 2003 OCC Guaranty National Bank of Tallahassee Civil Money Penalty (CMP): Guaranty National Bank of Tallahassee
Jul 10, 2003 OCC First National Bank of Gaylord Formal Agreement: First National Bank of Gaylord
Jul 9, 2003 OCC First National Bank of Wiggins Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank of Wiggins
Jul 8, 2003 OCC Citibank, N.A. Prohibition/Removal Orders: Arocho-Burgos, Benedicta
Jul 8, 2003 OCC Wells Fargo Bank, National Association Prohibition/Removal Orders: Castillo, Arthur D.
Jul 2, 2003 OCC The National Republic Bank of Chicago Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The National Republic Bank of Chicago
Jun 25, 2003 OCC The National Bank of North East Formal Agreement: The National Bank of North East
Jun 25, 2003 OCC The First National Bank of O'Donnell Prohibition/Removal Orders: Hogg, Nelson D.
Jun 23, 2003 OCC The First National Bank of Pandora Formal Agreement: The First National Bank of Pandora
Jun 23, 2003 OCC First National Agency Company of Deer River Inc. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Deer …
Jun 20, 2003 OCC Gateway Bank of St. Louis Formal Agreement: Gateway National Bank of St. Louis
Jun 18, 2003 OCC Wachovia Corporation Prohibition/Removal Orders: Lillie, Lawrence
Jun 17, 2003 OCC The First National Bank of O'Donnell Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of O'Donnell
Jun 12, 2003 FRB Centennial Bank of the West Civil Money Penalty $3,000: Centennial Bank of the West, Fort Collins, CO
Jun 12, 2003 FRB (individual) Civil Money Penalty $5,500: Community First Bank & Trust, Celina, OH
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Rahjes, Doyle D.
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Culbertson, Lloyd K.
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Kaumans, William W.
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Moyer, Charles I.
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Smith, William H.
Jun 11, 2003 OCC The Fremont National Bank and Trust Company Civil Money Penalty (CMP): The Fremont National Bank and Trust Company
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Culbertson, Katherine
Jun 11, 2003 OCC First National Bank and Trust Civil Money Penalty (CMP): Moyer, Jaret
Jun 10, 2003 OCC The First National Bank of Slippery Rock Civil Money Penalty (CMP): The First National Bank of Slippery Rock
Jun 10, 2003 FRB Southern Commercial Bank Written Agreement: Southern Commercial Bank, St. Louis, MO
Jun 5, 2003 OCC_OTS Genoa Savings and Loan Company Supervisory Agreement: The Genoa Savings and Loan Company
Jun 3, 2003 OCC The Somerville National Bank Formal Agreement: The Somerville National Bank
Jun 2, 2003 OCC_OTS First Federal of the South Civil Money Penalty: Charles R. Vawter, Jr.
Jun 2, 2003 OCC Chase Texas Foundation, Inc. C&D or PC&D Requiring Restitution: Coston, Byron A.
Jun 2, 2003 OCC Chase Texas Foundation, Inc. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Coston, Byron A.
Jun 2, 2003 OCC Delta National Bancorp Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Rossi, Toinette
Jun 2, 2003 OCC Delta National Bancorp Civil Money Penalty (CMP): Rossi, Toinette
Jun 2, 2003 OCC Chase Texas Foundation, Inc. Prohibition/Removal Orders: Coston, Byron A.
Jun 2, 2003 OCC_OTS First Federal of the South Orders of Removal/Prohibition: Charles R. Vawter, Jr.
May 28, 2003 FRB Marathon Bank Cease and Desist Order: Lori H. Staples
May 28, 2003 OCC Union Planters Corporation Prohibition/Removal Orders: Rickman, Bobby W.
May 28, 2003 FRB (individual) Civil Money Penalty 7,000: Citizens Bank and Trust Company, Van Buren, AR
May 27, 2003 OCC The First National Bank of Littlefield Civil Money Penalty (CMP): Lee, Jay H
May 27, 2003 OCC The First National Bank of Littlefield Civil Money Penalty (CMP): Lee, James T.

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