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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
Jun 14, 2003 The Munford Union Bank TN First Citizens National Bank
Jun 14, 2003 American National Bank NE American National Bank
Jun 14, 2003 Allfirst Trust Company of Pennsylvania, N.A. PA Manufacturers and Traders Trust Company
Jun 14, 2003 Allfirst Trust Company N.A. VA Manufacturers and Traders Trust Company
Jun 14, 2003 Founders Bank MO Bank Midwest, N.A.
Jun 14, 2003 The Peoples State Bank KY Citizens Union Bank of Shelbyville
Jun 13, 2003 Upbancorp, Inc. IL Bridgeview Bancorp, Inc.
Jun 13, 2003 RVB Bancshares, Inc. AR Bank of the Ozarks Inc
Jun 13, 2003 River Valley Bank AR Bank OZK
Jun 13, 2003 (unnamed) — Keystone Bank
Jun 11, 2003 Murfreesboro Bancorp, Inc. TN FB Financial Corporation
Jun 11, 2003 Bank of Murfreesboro TN FirstBank
Jun 9, 2003 Union Planters Bank of Northwest Tennessee FSB TN Union Planters Bank, National Association
Jun 7, 2003 Berean Bank PA Advance Bank
Jun 7, 2003 The Commonwealth Bank VA First Community Bank
Jun 6, 2003 Advance Bancorp, Inc. IL Charter One Financial, Inc.
Jun 5, 2003 Gaylord Employees Tampa Federal Credit Union FL Trax Federal Credit Union
Jun 5, 2003 Gardner Credit Union IL Fort Financial Federal Credit Union
Jun 2, 2003 Charter 1 Bank MO Legends Bank
Jun 2, 2003 Lighthouse Community Bank SC Suntrust Bank
Jun 2, 2003 Efco Federal Credit Union PA Tri County Area Federal Credit Union
Jun 1, 2003 Keystone Historical Federal Credit Union PA Service 1st Federal Credit Union
Jun 1, 2003 BankDallas, SSB TX Prosperity Bank
Jun 1, 2003 (unnamed) — Legacy Banks
Jun 1, 2003 U.S. Trust Company CT U.S. Trust Company, National Association
Jun 1, 2003 Dir Credit Union VA Partners Financial Federal Credit Union
Jun 1, 2003 CM Federal Credit Union NJ New Jersey Community Federal Credit Union
Jun 1, 2003 GBC Employees Federal Credit Union PA Pagoda Federal Credit Union
Jun 1, 2003 Wisconsin Boys School Wales Credit Union WI Prime Financial Credit Union
Jun 1, 2003 Tokheim Employees Credit Union IN Partners 1st Federal Credit Union
Jun 1, 2003 Haymarket Credit Union IL Credit Union 1
Jun 1, 2003 Valley Community Federal Credit Union WA Sound Credit Union
Jun 1, 2003 Worth Community Credit Union IL Northstar Credit Union
Jun 1, 2003 Amana Employees Credit Union IA Community 1st Credit Union
Jun 1, 2003 Saha Credit Union TX Southside Credit Union
Jun 1, 2003 Vernonia Federal Credit Union OR Wauna Federal Credit Union
Jun 1, 2003 N-P Employees Credit Union SC Spero Financial Federal Credit Union
Jun 1, 2003 Steering Federal Credit Union AL Family Security Credit Union
Jun 1, 2003 Bay State Federal Savings Bank MA Compass Bank for Savings
Jun 1, 2003 Ross-Loos Federal Credit Union CA Northrop Grumman Federal Credit Union
May 31, 2003 Clear Lake National Bank TX Lone Star Capital Bank, National Association
May 31, 2003 GCCC, Inc. OH Charter One Bank, National Association
May 31, 2003 Banc Services Corp. OH Wayne Bancorp, Inc.
May 31, 2003 City National Bank and Trust Company, Hastings, Nebraska NE Heritage Bank
May 30, 2003 Great Western Bank SD Great Western Bank
May 24, 2003 The Bank of Laramie, National Association WY The American National Bank
May 24, 2003 CNB Holdings, Inc. VA Mountainbank Financial Corporation
May 24, 2003 Wyoming Bank and Trust Company, National Association WY The American National Bank
May 24, 2003 Stockgrowers State Bank, National Association WY The American National Bank
May 23, 2003 First Colony Bancshares, Inc. GA Main Street Banks, 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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