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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
Sep 3, 2003 Tejas Force, Inc. DE Ibid, Inc.
Sep 3, 2003 Tejas Bancshares, Inc. MN Ibid, Inc.
Sep 2, 2003 Mountain State Federal Credit Union MT Altana Federal Credit Union
Sep 2, 2003 State Bank of Moorhead MN Bell Bank
Sep 2, 2003 Fort Hood Military Federal Credit Union TX Pentagon Federal Credit Union
Sep 2, 2003 State Bank of West Fargo ND Bell Bank
Sep 2, 2003 KC Credit Union MN Firefly Federal Credit Union
Sep 2, 2003 San Antonio Women's Credit Union TX Select Federal Credit Union
Sep 2, 2003 Heartland Credit Union IA Greater Iowa Credit Union
Sep 1, 2003 Citifinancial, Inc. 486, LLC MD Citifinancial, INC.<OH>
Sep 1, 2003 Citifinancial Services, Inc. 384, LLC MD Cfna Receivables (Pa), Inc.
Sep 1, 2003 Indianapolis Railroad Employees Credit Union IN Indiana Members Credit Union
Sep 1, 2003 Arapahoe County Funding Company CO Capitol Bancorporation, Inc.
Sep 1, 2003 Postal 1st Credit Union UT Utah First Federal Credit Union
Sep 1, 2003 United Savings and Loan Bank WA WaFd Bank
Sep 1, 2003 E F I Employees Credit Union WI Shipbuilders Credit Union
Sep 1, 2003 Arapahoe Bank and Trust CO First National Bank
Sep 1, 2003 Members Edge Federal Credit Union PA Pittsburgh Federal Credit Union
Sep 1, 2003 Associated Metro Federal Credit Union MI Village Community Credit Union
Sep 1, 2003 Friendly Credit Union AL Navigator Federal Credit Union
Sep 1, 2003 Rainbow Credit Union KS Ark Valley Credit Union
Sep 1, 2003 U.S. Trust Company of Florida, National Association FL U.S. Trust Company, National Association
Sep 1, 2003 Teamsters Credit Union WA Seattle Metropolitan Credit Union
Aug 30, 2003 Corwith State Bank IA Iowa State Bank
Aug 30, 2003 Centennial Bank NC Vantagesouth Bank
Aug 30, 2003 Baldwin Bancshares, Inc. GA GB&T Bancshares, Inc.
Aug 30, 2003 Citibank (New York State) NY Citibank, N.A.
Aug 29, 2003 Fifth Third Processing Solutions OH Fifth Third Bank, N.A.
Aug 29, 2003 Corwith State Bancshares, Inc. IA Corwith State Bank
Aug 29, 2003 Security Bankshares, Inc. TX City Delaware Bancorp, Inc.
Aug 29, 2003 Community National Bank of Grand Forks ND Community Bank of the Red River Valley
Aug 28, 2003 Carlyle and Company Credit Union NC Truliant Federal Credit Union
Aug 26, 2003 Asiana Bank CA Nara Bank
Aug 25, 2003 CSB Financial Corp. NJ Lakeland Bancorp, Inc.
Aug 25, 2003 Community State Bank NJ Lakeland Bank
Aug 23, 2003 Southern Community Bank, Atlantic FL Trustmark Bank
Aug 23, 2003 Verdugo Banking Company CA Banc of California
Aug 21, 2003 B.M.G. Credit Union, Inc. CT McKesson Federal Credit Union
Aug 21, 2003 Hume Bancshares, Inc. MO Hume Bancshares Acquisition Corp
Aug 18, 2003 Dicey Federal Credit Union NC Truliant Federal Credit Union
Aug 16, 2003 Secured Trust Bank TX Community Bank & Trust, S.S.B.
Aug 16, 2003 Marine National Bank of Naples FL Old Florida Bank
Aug 16, 2003 Marine Bancshares, Inc. FL Old Florida Bankshares, Inc.
Aug 16, 2003 WB&T Delaware Bancshares, Inc. DE Inwood Bancshares, Inc.
Aug 16, 2003 WB&T Bancshares, Inc. TX Inwood Bancshares, Inc.
Aug 16, 2003 Western Bank & Trust TX Inwood National Bank
Aug 13, 2003 F&M Bancorp MD Mercantile Bankshares Corporation
Aug 12, 2003 Carr-Lowrey Employees Federal Credit Union MD State Employees Credit Union of Maryland Inc.
Aug 11, 2003 Albany Community Development Federal Credit Union NY Broadview Federal Credit Union
Aug 11, 2003 Border State Bank MN Border 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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