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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 5, 2003 Pittsburgh Financial Corp. PA First Commonwealth Financial Corporation
Dec 5, 2003 Sarasota Bank FL Colonial Bank
Dec 2, 2003 Caledonia Financial Corporation MI TCF Financial Corporation
Dec 1, 2003 Halekulani Federal Credit Union HI Hawaiian Financial Federal Credit Union
Dec 1, 2003 The Greenwich Bank & Trust Company CT Connecticut Community Bank, N.A.
Dec 1, 2003 Valley Communities Federal Credit Union MI United Financial Credit Union
Dec 1, 2003 Montgomery County Employees Credit Union PA American Heritage Federal Credit Union
Dec 1, 2003 American Metal Hose Employee Federal Credit Union CT Waterbury Connecticut Teachers Federal Credit Union
Dec 1, 2003 St. Francis Bank, F.S.B. WI Midamerica Bank, FSB
Dec 1, 2003 Catholic Credit Union TX Saint Joseph's Credit Union
Dec 1, 2003 Sho-Pan-Hi Federal Credit Union ID Icon Credit Union
Dec 1, 2003 Electrical Workers Credit Union, Inc. OH Pathways Financial Credit Union, Inc.
Dec 1, 2003 Hammermill Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2003 Al Tech Federal Credit Union NY Greater Chautauqua Federal Credit Union
Dec 1, 2003 S E S E Federal Credit Union CA Sunnyvale Federal Credit Union
Nov 30, 2003 Montana Media Credit Union MT Altana Federal Credit Union
Nov 30, 2003 Ackerman Credit Union, Inc. OH Kemba Financial Credit Union, Inc.
Nov 30, 2003 First National Bank IL First Financial Bank, N.A.
Nov 29, 2003 Kansas Farm Bureau Employees Credit Union KS Kansas State University Federal Credit Union
Nov 28, 2003 Bom Comloan, Inc. NV Bank One, National Association
Nov 27, 2003 Alabama Gas Credit Union AL 1st Resource Credit Union
Nov 27, 2003 St. Clair County Teachers Credit Union IL Vantage Credit Union
Nov 22, 2003 Grange National Banc Corp. PA Community Financial System, Inc.
Nov 22, 2003 Associated Bank Illinois, National Association IL Associated Bank, N.A.
Nov 22, 2003 Montana First National Bank MT First Montana Bank, Inc.
Nov 22, 2003 Grange National Bank PA Community Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Texas, National Association TX Wells Fargo Bank, N.A.
Nov 21, 2003 Rutherford Bank and Trust TN GreenBank
Nov 21, 2003 Independent Bankshares Corporation TN Green Bankshares, Inc.
Nov 21, 2003 First Independent Bank TN GreenBank
Nov 21, 2003 Averitt Express Savings Association Credit Union TN Southeast Financial Credit Union
Nov 21, 2003 Wells Fargo Bank West, National Association CO Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Nebraska, National Association NE Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Montana, National Association MT Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Alaska, National Association AK Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Wyoming, National Association WY Wells Fargo Bank, N.A.
Nov 18, 2003 Modesto Commerce Bank CA Bank of Stockton
Nov 18, 2003 Tuscaloosa Community Federal Credit Union AL Secure First Credit Union
Nov 18, 2003 Buffalo Telephone Employees Federal Credit Union NY The Summit Federal Credit Union
Nov 17, 2003 Memphis Nitrogen Federal Credit Union TN Southern Security Federal Credit Union
Nov 14, 2003 District 8 Federal Credit Union CO Air Academy Federal Credit Union
Nov 14, 2003 Community Bank of Kentucky, Inc. KY Your Community Bank
Nov 12, 2003 Dyno Employees NY Federal Credit Union NY Mid-Hudson Valley Federal Credit Union
Nov 10, 2003 First Heartland Bancorp IA Conover Bancorporation
Nov 8, 2003 The North American Bank and Trust Company CT Webster Bank, N.A.
Nov 8, 2003 Citizens Bank of Texas, National Association TX First Victoria National Bank
Nov 7, 2003 First Federal Savings Bank KY Kentucky Bank
Nov 7, 2003 Atlantic Savings Bank, F.S.B. SC Wachovia Bank, N.A.
Nov 3, 2003 Kaydon 6-G Federal Credit Union TN Hurd Employees Credit Union
Nov 3, 2003 Renaissance Federal Credit Union PA Omega Federal Credit Union

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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