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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
Jul 1, 2003 Columbus Southside Federal Credit Union OH Bmi Federal Credit Union
Jul 1, 2003 Are Fcu PA Superior Credit Union
Jul 1, 2003 United Florists Federal Credit Union CO Metrum Community Credit Union
Jul 1, 2003 T & C Credit Union, Inc. OH Canton School Employees Federal Credit Union
Jul 1, 2003 All-Steel Empl Fcu PA Choice One Community Federal Credit Union
Jul 1, 2003 Blue Flame Credit Union TN Blue Flame Credit Union
Jul 1, 2003 Greensburg Federal Credit Union PA U.A.L.U. 354 Federal Credit Union
Jul 1, 2003 TWH Credit Union MA Metro Credit Union
Jul 1, 2003 Reynolds Federal Credit Union PA Citadel Federal Credit Union
Jul 1, 2003 Mata Federal Credit Union TN Orion Federal Credit Union
Jul 1, 2003 US Customs Service Federal Credit Union DC Treasury Department Federal Credit Union
Jul 1, 2003 Farmland Industries Credit Union MO Communityamerica Federal Credit Union
Jul 1, 2003 Local 453 Maryland Federal Credit Union MD Act 1st Federal Credit Union
Jul 1, 2003 Maxim Bank TX Amegy Bank National Association
Jul 1, 2003 The Savings Bank and Trust Company OH Savings Bank & Trust
Jul 1, 2003 Lancaster First Federal Credit Union OH Lan-Fair Federal Credit Union
Jul 1, 2003 Monterey Bay Bank CA MUFG Union Bank, National Association
Jul 1, 2003 Marion County Teachers Federal Credit Union MS Centuryfirst Federal Credit Union
Jul 1, 2003 West Tex NM Federal Credit Union TX Heritage USA Federal Credit Union
Jul 1, 2003 Texas Steel Employee Credit Union TX MY Credit Union
Jul 1, 2003 West Essex Bank, FSB NJ Kearny Bank
Jul 1, 2003 C P Lutheran Cu PA Belco Community Credit Union
Jul 1, 2003 Kern's London Federal Credit Union KY L&N Federal Credit Union
Jul 1, 2003 The Bank of Yellville AR Arvest Bank
Jul 1, 2003 Gateway Credit Union MI Frankenmuth Credit Union
Jul 1, 2003 Crown Central Credit Union OR Oregonians Credit Union
Jul 1, 2003 Safhoneca Federal Credit Union PA GNC Community Federal Credit Union
Jul 1, 2003 Mountain Bancshares, Inc. AR Arvest Holdings, Inc.
Jul 1, 2003 Johnson Trust Company WI Johnson Bank
Jul 1, 2003 Freedom Trust Company NH First Financial Trust N.A.
Jul 1, 2003 First Bank & Trust TX GNB Financial, National Association
Jul 1, 2003 Mellon Growth Advisors LLC MA Mellon Trust of New England, National Association
Jun 30, 2003 Omal Plant Employees Credit Union, Inc. OH Ohio Valley Community Federal Credit Union
Jun 30, 2003 Comerica Bank - Texas TX Comerica Bank
Jun 30, 2003 Comerica Bank-California CA Comerica Bank
Jun 30, 2003 Riverview Community Employees Credit Union MI Shore to Shore Community Federal Credit Union
Jun 30, 2003 Millbrook Federal Credit Union AR Telcoe Federal Credit Union
Jun 28, 2003 The Farmers and Merchants State Bank KS American State Bank & Trust Company
Jun 28, 2003 American State Bancshares, Inc. KS American State Bancshares, Inc.
Jun 28, 2003 Progressive Bank, N.A. - Buckhannon WV Progressive Bank, N.A.
Jun 28, 2003 The United Banking Company GA Farmers & Merchants Bank
Jun 25, 2003 Mill Creek Bank UT Synchrony Bank
Jun 23, 2003 Industrial Credit Union NC Generations Community Credit Union
Jun 23, 2003 First Colony Bank GA Main Street Bank
Jun 20, 2003 First Federal Savings Bank of Ironton OH Classic Bank
Jun 20, 2003 Security Federal Bank & Trust IN Standard Bank and Trust Company
Jun 20, 2003 Uptown National Bank of Chicago IL Bridgeview Bank Group
Jun 19, 2003 Laguna Bancshares, Inc. TX K&T Financial Corporation
Jun 19, 2003 Laguna Bancshares of Delaware, Inc. DE K&T Financial Corporation
Jun 16, 2003 Citizens Bank and Trust Company IA MidWestOne 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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