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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
Aug 8, 2003 Bank One, West Virginia, National Association WV Bank One, National Association
Aug 8, 2003 Farmers Savings Bank IA Kerndt Brothers Savings Bank
Aug 8, 2003 Bank One, Wheeling-Steubenville, National Association WV Bank One, National Association
Aug 6, 2003 Transims Federal Credit Union NY Sunmark Credit Union
Aug 2, 2003 Federation Credit Union PA Eagle One Federal Credit Union
Aug 1, 2003 Sun Country Credit Union NM First Financial Credit Union
Aug 1, 2003 Premier Bancorp, Inc PA Fulton Financial Corporation
Aug 1, 2003 Valley Bancorp, Inc. AZ Marquette Financial Companies
Aug 1, 2003 Ut Student Federal Credit Union OH University of Toledo Federal Credit Union
Aug 1, 2003 Marion County Credit Union FL Gte Federal Credit Union dba Gte Financial
Aug 1, 2003 Greater Grace Temple Federal Credit Union MI Michigan First Credit Union
Aug 1, 2003 Utah Copper Employees Credit Union UT Mountain America Federal Credit Union
Aug 1, 2003 Meadow Brook Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
Aug 1, 2003 U.S. Trust Company of North Carolina NC U.S. Trust Company, National Association
Aug 1, 2003 LC Federal Credit Union PA Scranton Downtown Federal Credit Union
Aug 1, 2003 CambridgePort Bank MA Citizens Bank of Massachusetts
Aug 1, 2003 Pacesetter Credit Union MO United Consumers Credit Union
Aug 1, 2003 Aiea Federal Credit Union HI Hawaiian Financial Federal Credit Union
Jul 31, 2003 Martin County Fidelity Bancshares Company MN Profinium Financial Holdings, Inc.
Jul 31, 2003 Latvian Credit Union MA Tremont Credit Union
Jul 31, 2003 Ukrainian Credit Union WI Educators Credit Union
Jul 31, 2003 Plan Credit Union MA Tremont Credit Union
Jul 30, 2003 First Security Corporation MN Servus Financial Corporation
Jul 25, 2003 Kenwood Savings Bank OH Peoples Community Bank
Jul 25, 2003 First Commerce Bank NC Bank of Granite
Jul 25, 2003 First American Bank MS Liberty Bank and Trust Company
Jul 22, 2003 Fidelity Federal Savings Bank IL Midamerica Bank, FSB
Jul 19, 2003 Hawkeye State Bank IA West Bank
Jul 19, 2003 Today's Bank WA Riverview Bank
Jul 18, 2003 First Choice Community Federal Credit Union CO Bellco Credit Union
Jul 16, 2003 First Commerce Corporation NC Bank of Granite Corporation
Jul 16, 2003 Pend Oreille Bancorp ID Glacier Bancorp, Inc.
Jul 16, 2003 Fall River Herald News Employees Federal Credit Union MA Fall River Municipal Credit Union
Jul 16, 2003 Pend Oreille Bank ID Mountain West Bank
Jul 15, 2003 Central National Investment, Inc. KS Central National Bank
Jul 14, 2003 First State Bank of Emmons MN Security Bank Minnesota
Jul 12, 2003 First Continental Bank CA United Commercial Bank
Jul 12, 2003 Central Sierra Bank CA Central California Bank
Jul 12, 2003 South Carolina Bank and Trust of the Pee Dee, National Association SC South State Bank
Jul 12, 2003 Farmers State Bank of Silver Creek NE Bank of Clarks
Jul 11, 2003 Advance Bank IL Charter One Bank, National Association
Jul 11, 2003 White Plains Teachers Federal Credit Union NY Educational and Governmental Employees Federal Credit Union
Jul 11, 2003 State Bank of Kingsville TX Bank of South Texas
Jul 9, 2003 MSB Shares, Inc. AR Liberty Bancshares, Inc
Jul 4, 2003 Southland Business Bank CA Vineyard Bank, N.A.
Jul 4, 2003 Allfirst Financial Center National Association DE Manufacturers and Traders Trust Company
Jul 2, 2003 First Virginia Banks, Inc. VA Truist Financial Corporation
Jul 2, 2003 Va New England Federal Credit Union MA Hanscom Federal Credit Union
Jul 1, 2003 Daily Times Employees Fcu PA Sun East Federal Credit Union
Jul 1, 2003 Barnard & Burk Federal Credit Union LA Breco 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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