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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
Nov 1, 2003 Maincorp Intermediate Holding Company, Inc. DE Prosperity Holdings, Inc.
Nov 1, 2003 Houston Commercial Bank TX Enterprise Bank
Nov 1, 2003 Southwest Bank IL Southwest Bank, An M&I Bank
Nov 1, 2003 Roslyn Bancorp, Inc. NY Flagstar Financial, Inc.
Nov 1, 2003 Mainbancorp, Inc. TX Prosperity Bancshares, Inc.
Nov 1, 2003 U.S. Trust Company of Texas, National Association TX U.S. Trust Company, National Association
Nov 1, 2003 Marble Falls National Bancshares, Inc. TX North American Bancshares, Inc.
Nov 1, 2003 Community Bancorp, Inc. MA Citizens Financial Group, Inc.
Nov 1, 2003 Nazareth National Bank and Trust Company PA Keystone Nazareth Bank & Trust Company
Nov 1, 2003 Coffeyville Teachers Credit Union KS Kansas Teachers Community Credit Union
Nov 1, 2003 The Commercial Bank MS United Mississippi Bank
Nov 1, 2003 Pioneer Bank, a Federal Savings Bank OR FirstBank Northwest
Nov 1, 2003 MainBank, National Association TX Prosperity Bank
Nov 1, 2003 IBEW-702 Federal Credit Union IL Siu Credit Union
Nov 1, 2003 James River Valley Federal Credit Union SD Area Federal Credit Union
Nov 1, 2003 American Sterilizer Employees Federal Credit Union PA Americo Federal Credit Union
Nov 1, 2003 Ocean County Postal Employees Federal Credit Union NJ First Harvest Federal Credit Union
Nov 1, 2003 Community National Bank MA Citizens Bank of Massachusetts
Nov 1, 2003 The Roslyn Savings Bank NY Flagstar Bank, N.A.
Nov 1, 2003 Rocky Mountain Employees Credit Union CO Advancial Federal Credit Union
Nov 1, 2003 Ojai Valley Bank CA Mid-State Bank & Trust
Nov 1, 2003 BankTrust of Brewton AL BankTrust
Nov 1, 2003 J&J Employee Credit Union TX MY Credit Union
Nov 1, 2003 Alpha Community Credit Union NC Piedmont Advantage Credit Union
Nov 1, 2003 First State Bank of Sinai SD Citizens State Bank of Arlington
Nov 1, 2003 Sullivan County Employees Credit Union TN Eastman Credit Union
Nov 1, 2003 O-SCC-VS Employee Federal Credit Union KY L&N Federal Credit Union
Nov 1, 2003 Providence Va Hospital Federal Credit Union RI Postal Government Employees Federal Credit Union
Nov 1, 2003 Metropacific Community Credit Union WA Qualstar Credit Union
Nov 1, 2003 Parker Elgin Federal Credit Union OH Pillar Credit Union, Inc
Nov 1, 2003 Dunlop Credit Union AL Family Security Credit Union
Nov 1, 2003 Traditions Credit Union WA Community 1st Credit Union
Oct 31, 2003 Cam - Co Transit Federal Credit Union PA G.A.P. Federal Credit Union
Oct 31, 2003 Metuchen-Edison Federal Credit Union NJ United Teletech Financial Federal Credit Union
Oct 31, 2003 Our Lady of Good Counsel Parish Credit Union IL Oak Trust Credit Union
Oct 31, 2003 First Colonial Group, Inc. PA KNBT Bancorp Inc.
Oct 31, 2003 Bank of Lecompte LA Red River Bank
Oct 31, 2003 W W M Federal Credit Union PA Usx Federal Credit Union
Oct 31, 2003 Deuel County State Bank NE Points West Community Bank
Oct 31, 2003 Coastline Community Credit Union CA Orange County's Federal Credit Union
Oct 27, 2003 Raccoon Valley State Bank IA Raccoon Valley Bank
Oct 27, 2003 Dallas Investment Company IA Perry Investment Company
Oct 25, 2003 The Martin County National Bank of Fairmont MN Profinium, Inc.
Oct 24, 2003 Fredericktown Bank & Trust Company MD Farmers & Mechanics Bank
Oct 24, 2003 Sarasota Bancorporation, Inc. FL The Colonial Bancgroup, Inc.
Oct 23, 2003 American National Bank IA American National Bank
Oct 23, 2003 Page State Bank ND Quality Bank
Oct 23, 2003 Page Bank Holding Company ND Quality Bankshares, Inc.
Oct 21, 2003 Western Bank & Trust National Association IA American National Bank
Oct 21, 2003 General Bank CA Cathay Bank

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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