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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
Dec 31, 2003 The Fifth Third Bank of Northern Kentucky, Inc. KY Fifth Third Bank
Dec 31, 2003 BW Holdings, Inc. CO Bankvest, Inc.
Dec 31, 2003 Block Capital Management ME Bar Harbor Trust Services
Dec 31, 2003 First National Trust Company PA First National Bank of Pennsylvania
Dec 31, 2003 Mortgage Express Corporation KY Citizens Commerce Bank
Dec 31, 2003 Fifth Third Investment Advisors, Inc. IN Fifth Third Financial Corporation
Dec 31, 2003 Covest Bancshares, Inc. IL First Midwest Bancorp, Inc.
Dec 31, 2003 The Maddox Corporation GA First State Bancshares of Blakely, Inc.
Dec 31, 2003 Providian Bank UT Providian National Bank
Dec 31, 2003 Winnebago Acceptance Corporation GA Bank of America, N.A.
Dec 31, 2003 Sea Ray Credit Corporation GA Bank of America, N.A.
Dec 31, 2003 Banc of America Speciality Finance, Inc. GA Bank of America, N.A.
Dec 31, 2003 Fleetwood Credit Corp. GA Bank of America, N.A.
Dec 31, 2003 C&S Premises, Inc. GA NB Holdings Corporation
Dec 31, 2003 Commercesouth, Inc. AL Banctrust Financial Group, Inc.
Dec 31, 2003 Fifth Third Bank, Florida FL Fifth Third Bank
Dec 31, 2003 Corn Belt Bancorporation IA First Fontanelle Bancorporation
Dec 31, 2003 Jacksonville Savings Bank, SSB TX Franklin Bank, S.S.B.
Dec 31, 2003 The Broadway National Bank of Chelsea MA Boston Federal Savings Bank
Dec 31, 2003 Bethany Baptist Church Credit Union OH Antioch Baptist Church Credit Union, Inc.
Dec 31, 2003 Kawa Credit Union, Inc. KY K I T Federal Credit Union
Dec 31, 2003 Fifth Third Bank, Indiana IN Fifth Third Bank
Dec 31, 2003 Northwestern University Employees Credit Union IL First Northern Credit Union
Dec 31, 2003 Fifth Third Bank, Kentucky, Inc. KY Fifth Third Bank
Dec 31, 2003 Tri-County Postal Federal Credit Union IL Numark Credit Union
Dec 31, 2003 Greater New Light Baptist Credit Union, Inc. OH Trupartner Credit Union, Inc.
Dec 29, 2003 Worthington Bancorporation IA State Bank
Dec 24, 2003 The Lenox Savings Bank OH Foundation Bank
Dec 23, 2003 South Texas Capital Group, Inc. TX Sterling Bancorporation, LLC
Dec 20, 2003 The First National Bank of O'Donnell TX The State National Bank of Big Spring
Dec 20, 2003 Westville Community Federal Credit Union IL Landmark Credit Union
Dec 18, 2003 NVF Company Employees Federal Credit Union DE Louviers Federal Credit Union
Dec 17, 2003 World Federal Credit Union GA Georgia United Credit Union
Dec 15, 2003 HomeTowne Heritage Bank PA National Penn Bank
Dec 15, 2003 First Mustang Corporation OK All America Bank
Dec 13, 2003 Great Lakes Bank OH SKY Bank
Dec 13, 2003 Auburn Community Bancorp CA Western Sierra Bancorp
Dec 13, 2003 Windsor Locks Community Bank, FSL CT Enfield Federal Savings and Loan Association
Dec 12, 2003 Security Bank National Association TX Citibank Texas, National Association
Dec 10, 2003 First State Bank of North Texas TX Prosperity Bank
Dec 8, 2003 Community Financial Group, Inc. AR CB Bancorp Inc
Dec 8, 2003 Victory-Masonic Mutual Credit Union NC Truliant Federal Credit Union
Dec 6, 2003 Hawthorn Bank IL State Financial Bank, National Association
Dec 6, 2003 Anchor Bank IL State Financial Bank, National Association
Dec 6, 2003 Bank of Grand Junction CO Wells Fargo Bank, N.A.
Dec 6, 2003 Superior Bank, FSB AR Arvest Bank
Dec 6, 2003 Superior Financial Corp AR Arvest Holdings, Inc.
Dec 6, 2003 Hawthorn Corporation IL State Financial Services Corporation
Dec 6, 2003 Lakes Region Bancorp, Inc. IL State Financial Services Corporation
Dec 5, 2003 Pittsburgh Savings Bank PA First Commonwealth Bank

The list holds 500 of the 751 mergers recorded for 2003.

Enforcement Actions in 2003

Action date Agency Institution Action
Apr 1, 2003 OCC Whitaker Bank, Inc C&D or PC&D Requiring Restitution: Warfield, Wallace
Apr 1, 2003 OCC Whitaker Bank, Inc Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Whitaker, Jack
Mar 31, 2003 OCC The National State Bank of Metropolis Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Summers, Mary Rebecca
Mar 31, 2003 OCC The National State Bank of Metropolis Prohibition/Removal Orders: Abell, Rick
Mar 31, 2003 OCC Americana National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Americana National Bank
Mar 26, 2003 FRB Fifth Third Bancorp Written Agreement: Fifth Third Bancorp, Cincinnati, OH and Fifth Third Bank, Cincinnati, OH
Mar 25, 2003 OCC HSBC Bank Nevada, N.A. Formal Agreement: Household Bank (SB), National Association
Mar 24, 2003 FRB (individual) Written Agreement: Premier Bank, Denver, CO
Mar 22, 2003 OCC First Financial Bank, N.A. Civil Money Penalty (CMP): Terre Haute First National Bank
Mar 20, 2003 OCC The Lake Bank, National Association Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Lake Bank, National Association
Mar 19, 2003 OCC JPMorgan Chase Bank, N.A. Prohibition/Removal Orders: Webb, Wendy A.
Mar 18, 2003 OCC (individual) Formal Agreement: Farmers National Bank
Mar 17, 2003 OCC (individual) Civil Money Penalty (CMP): Cleveland, Charles
Mar 17, 2003 OCC (individual) Civil Money Penalty (CMP): Hobgood, Robert C.
Mar 13, 2003 FRB Barnes Banking Company Written Agreement: Barnes Banking Company, Kaysville, UT
Mar 10, 2003 FRB (individual) Civil Money Penalty $17,150.00: First Bank, Creve Coeur, MO
Mar 3, 2003 FRB MSB Shares, Inc. Prohibition from Banking: Terry Frierson
Mar 3, 2003 FRB First Western Bank Cease and Desist Order: James C. Agee
Mar 3, 2003 FRB MSB Shares, Inc. Cease and Desist Order: Terry Frierson
Mar 1, 2003 FRB (individual) Written Agreement: Midstate Bancorp, Inc., Hinton, OK
Mar 1, 2003 FRB (individual) Written Agreement: Legacy Bank, Hinton, OK
Feb 28, 2003 OCC_OTS Union Federal Bank of Indianapolis Orders of Removal/Prohibition: Lorraine Wick
Feb 24, 2003 FRB First Western Bank Cease and Desist Order: Dale Skrobot
Feb 24, 2003 OCC_OTS First Heights Bank, FSB Supervisory Agreement: First Heights Bank, a FSB
Feb 24, 2003 FRB First Western Bank Cease and Desist Order: Michael Sahlgren
Feb 24, 2003 FRB First Western Bank Cease and Desist Order: Betty Skrobot
Feb 18, 2003 OCC Surety Capital Corporation Formal Agreement: Surety Bank, National Association
Feb 14, 2003 OCC American Investment Bank, N.A. Formal Agreement: American Investment Bank, National Association
Feb 13, 2003 FRB Key Bank N.A. Prohibition from Banking: Cynthia Rowe
Feb 13, 2003 OCC KeyBank N.A. Prohibition/Removal Orders: Rowe, Cynthia
Feb 13, 2003 FRB (individual) Prohibition from Banking: Marian L. Butler
Feb 13, 2003 OCC_OTS Teche Holding Company Orders of Removal/Prohibition: Daun T. Barras
Feb 12, 2003 OCC Wells Fargo Bank, N.A. Prohibition/Removal Orders: Butler, Marian L.
Feb 11, 2003 OCC First National Bank of Northern Kentucky Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank of Northern Kentucky
Feb 4, 2003 OCC (individual) Formal Agreement: Bank of Communications Co., Ltd - New York Branch
Feb 4, 2003 OCC First National Bank of Lucedale C&D or PC&D Requiring Restitution: Howell, Vernon E.
Jan 31, 2003 OCC_OTS Metropolitan Bank & Trust Company Orders of Removal/Prohibition: Robert M. Kaye
Jan 31, 2003 OCC The Park Avenue Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Park Avenue Bank, National Association
Jan 31, 2003 OCC_OTS Metropolitan Bank & Trust Company Cease and Desist: Robert M. Kaye
Jan 30, 2003 OCC Peoples National Bank Civil Money Penalty (CMP): Peoples National Bank
Jan 30, 2003 OCC Peoples National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Peoples National Bank
Jan 29, 2003 OCC Peoples National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Peoples National Bank
Jan 29, 2003 FRB Premier Financial Bancorp, Inc. Written Agreement: Premier Financial Bancorp, Inc.Huntington, WV
Jan 29, 2003 OCC The First National Bank of Littlefield Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Littlefield
Jan 29, 2003 OCC The First National Bank of Littlefield Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Lee, James T.
Jan 24, 2003 OCC Cumberland Valley National Bank & Trust Company Civil Money Penalty (CMP): Cumberland Valley National Bank & Trust Company
Jan 23, 2003 OCC (individual) Formal Agreement: Franklin National Bank
Jan 23, 2003 OCC The Farmers and Merchants National Bank of Nashville Formal Agreement: The Farmers and Merchants National Bank of Nashville
Jan 23, 2003 OCC First National Bank of Osceola County Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Davidson, Jackie
Jan 22, 2003 FRB La Salle State Bank Civil Money Penalty $3,150: La Salle State Bank, La Salle, IL

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