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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
Oct 21, 2003 GBC Bancorp CA Cathay General Bancorp
Oct 19, 2003 GLB Bancorp, Inc. OH SKY Financial Group, Inc.
Oct 18, 2003 Avery County Bank NC First-Citizens Bank & Trust Company
Oct 18, 2003 First Ridge Farm State Bank IL First Financial Bank, N.A.
Oct 18, 2003 Bell Federal Savings and Loan Association PA Northwest Bank
Oct 17, 2003 North Oakland Community Bank MI Community Central Bank
Oct 17, 2003 Pinnacle State Bank SC Arthur State Bank
Oct 17, 2003 (unnamed) — Centrue Bank
Oct 16, 2003 UBS (USA) Inc. CT UBS Americas Inc.
Oct 16, 2003 York Citizens Federal Credit Union AL Tuscaloosa Va Federal Credit Union
Oct 15, 2003 Lincoln National Bancorporation OK BancFirst Corporation
Oct 14, 2003 Pleasanton State Bank NE Town & Country Bank
Oct 11, 2003 First Virginia Bank - Colonial VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Coast Community Bancshares, Inc. MS Community Bancshares of Mississippi, Inc.
Oct 11, 2003 Sequoia Bancshares, Inc. MD Ubv Holding Company, LLC
Oct 11, 2003 Southern Exchange Bank FL First National Bank of Florida
Oct 11, 2003 First Vantage Bank /Tri-Cities VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Farmers Bank of Maryland MD Truist Bank
Oct 11, 2003 First Virginia Bank - Hampton Roads VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Liberty State Bank MN First Federal Capital Bank
Oct 11, 2003 First Virginia Bank VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 First Virginia Bank - Blue Ridge VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Sequoia Bank MD United Bank
Oct 11, 2003 First Virginia Bank-Southwest VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Atlantic Bank MD Truist Bank
Oct 10, 2003 Valley Bank of Arizona AZ Meridian Bank, National Association
Oct 9, 2003 Aviston Financial Corporation IL Centrue Financial Corporation
Oct 9, 2003 Floodwood Agency, Inc. MN Finlayson Bancshares, Inc.
Oct 4, 2003 Suburban Community Bank PA Univest Bank and Trust Co.
Oct 4, 2003 The First National Bank of Grove OK The First National Bank and Trust Company of Vinita
Oct 3, 2003 Document Processing & Imaging Corporation ND Frandsen Financial Corporation
Oct 3, 2003 MountainBank NC Carolina First Bank
Oct 3, 2003 Mountainbank Financial Corporation NC The South Financial Group, Inc.
Oct 3, 2003 The Garber Employees Credit Union, Inc. OH Ashland Community Federal Credit Union
Oct 2, 2003 First National Bank of Bellaire TX Tradition Bank - Bellaire
Oct 2, 2003 Cedar Valley State Bank IA Valley Bank
Oct 2, 2003 Eloise Credit Union MI Chief Financial Federal Credit Union
Oct 1, 2003 Cambria-Somerset C O G Federal Credit Union PA Healthcare First Credit Union
Oct 1, 2003 Bismarck Telco Federal Credit Unin ND Railway Credit Union
Oct 1, 2003 Saint Ignatius Parish Credit Union, Inc. OH Firefighters Community Cu
Oct 1, 2003 Enfield Federal Credit Union CT Enfield Community Federal Credit Union
Oct 1, 2003 Johnson City Federal Employees Credit Union TN Greater Experience Credit Union
Oct 1, 2003 Cooperative Federal Credit Union NY Consumers Federal Credit Union
Oct 1, 2003 Washco Community Credit Union OR First Community Credit Union
Oct 1, 2003 First Bank, bc IL Blackhawk Bank
Oct 1, 2003 Basf Employee Federal Credit Union SC S.C. State Federal Credit Union
Oct 1, 2003 Blue Ridge Federal Credit Union VA Kemba Roanoke Federal Credit Union
Oct 1, 2003 Volunteer Federal Credit Union TN New South Credit Union
Oct 1, 2003 Gentelco West Federal Credit Union CA Pacific Community Credit Union
Oct 1, 2003 The First National Bank of Coulterville IL First State Bank of Campbell Hill

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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