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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 1, 2003 BBC Federal Credit Union NC Allegacy Federal Credit Union
Oct 1, 2003 Chicago First Credit Union IL Credit Union 1
Oct 1, 2003 Warwick Postal Employees Federal Credit Union RI Postal Government Employees Federal Credit Union
Oct 1, 2003 Mid-County Family Credit Union MO County Credit Union
Oct 1, 2003 Midamerican Bancshares, Inc. MO Midamerican Bancshares, Inc.
Oct 1, 2003 Quick Bancorp, Inc. IA American National Corporation
Oct 1, 2003 Dunc Corp. IL Blackhawk Bancorp, Inc.
Oct 1, 2003 CFC Data Corp MI TCF Financial Corporation
Oct 1, 2003 Rea Federal Credit Union IN Fire Police City County Federal Credit Union
Oct 1, 2003 The Minute Maid Company Federal Credit Union TX Coca-Cola Federal Credit Union
Oct 1, 2003 Virginia Hospital Employees Federal Credit Union VA Connects Federal Credit Union
Oct 1, 2003 W.F.B. Employees Credit Union WI Summit Credit Union
Oct 1, 2003 County of Erie Pennsylvania Federal Credit Union PA Erie Federal Credit Union
Oct 1, 2003 G T C Lafayette Federal Credit Union IN Purdue Federal Credit Union
Oct 1, 2003 Englewood Credit Union IL U.S. Employees Credit Union
Sep 30, 2003 Village Savings Bank, F.S.B. OH Main Street Bank Corp.
Sep 30, 2003 CSB Preferred Capital Corp MA Legacy Banks
Sep 30, 2003 Eau Claire Financial Services, Inc. MN Alliance Financial Services, Inc.
Sep 30, 2003 Citizens Utilities Federal Credit Union LA Sunwest Federal Credit Union
Sep 30, 2003 Commercial News Credit Union IL Tee-Pak Credit Union
Sep 30, 2003 Copley Los Angeles Federal Credit Union CA Calcom Federal Credit Union
Sep 30, 2003 Utah Oil Workers Credit Union UT Utah First Federal Credit Union
Sep 29, 2003 FCB Acquisition, LLC NC First Charter Bank
Sep 29, 2003 FSB Agency, Inc. MI FSB Bank
Sep 27, 2003 (unnamed) — Mercantile County Bank
Sep 27, 2003 Madison Bank and Trust AR Anstaff Bank
Sep 26, 2003 MidSouth Bank AR Liberty Bank of Arkansas
Sep 26, 2003 Carolina State Bank SC Arthur State Bank
Sep 26, 2003 Cumberland National Bank GA The Heritage Bank
Sep 26, 2003 First Virginia Insurance Services, Inc. VA Truist Bank
Sep 26, 2003 Northwest Teachers Vea Credit Union VT 802 Credit Union
Sep 24, 2003 FSGBank, National Association GA Fsgbank, N.A.
Sep 24, 2003 FSGBANK, National Association TN Fsgbank, N.A.
Sep 22, 2003 Newton South Co-operative Bank MA The Village Bank
Sep 20, 2003 Kaweah National Bank CA Citizens Business Bank, N.A.
Sep 18, 2003 Tuffy Credit Union MO United Consumers Credit Union
Sep 15, 2003 Mellon Bank Delaware, National Association DE BNY Mellon, N.A.
Sep 12, 2003 Panasia Bank, National Association NJ Woori America Bank
Sep 12, 2003 Associated Card Services Bank, N.A. WI Associated Bank, N.A.
Sep 11, 2003 Captree Federal Credit Union NY Warden Captree Federal Credit Union
Sep 10, 2003 Chesnee State Bancshares, Inc. SC Arthur Financial Corporation
Sep 10, 2003 Woodruff State Bancshares, Inc. SC Arthur Financial Corporation
Sep 10, 2003 Arthur State Bancshares, Inc. SC Arthur Financial Corporation
Sep 8, 2003 Stratton Agency, Inc. NE MNB Financial Group, Inc.
Sep 8, 2003 Commercial Bank NE MNB Bank
Sep 6, 2003 Peoples Bankcorp, Inc. NY Community Financial System, Inc.
Sep 6, 2003 Ogdensburg Federal Savings and Loan Association NY Community Bank, N.A.
Sep 4, 2003 Texas Bancshares Subsidiary Corporation MN Ibid, Inc.
Sep 4, 2003 Fidelity Bancorporation, Inc. MN Ibid, Inc.
Sep 3, 2003 Fayetteville Bancshares, Inc. TX Industry Bancshares, Inc.

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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