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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
Nov 1, 2003 Maincorp Intermediate Holding Company, Inc. DE Prosperity Holdings, Inc.
Nov 1, 2003 Houston Commercial Bank TX Enterprise Bank
Nov 1, 2003 Southwest Bank IL Southwest Bank, An M&I Bank
Nov 1, 2003 Roslyn Bancorp, Inc. NY Flagstar Financial, Inc.
Nov 1, 2003 Mainbancorp, Inc. TX Prosperity Bancshares, Inc.
Nov 1, 2003 U.S. Trust Company of Texas, National Association TX U.S. Trust Company, National Association
Nov 1, 2003 Marble Falls National Bancshares, Inc. TX North American Bancshares, Inc.
Nov 1, 2003 Community Bancorp, Inc. MA Citizens Financial Group, Inc.
Nov 1, 2003 Nazareth National Bank and Trust Company PA Keystone Nazareth Bank & Trust Company
Nov 1, 2003 Coffeyville Teachers Credit Union KS Kansas Teachers Community Credit Union
Nov 1, 2003 The Commercial Bank MS United Mississippi Bank
Nov 1, 2003 Pioneer Bank, a Federal Savings Bank OR FirstBank Northwest
Nov 1, 2003 MainBank, National Association TX Prosperity Bank
Nov 1, 2003 IBEW-702 Federal Credit Union IL Siu Credit Union
Nov 1, 2003 James River Valley Federal Credit Union SD Area Federal Credit Union
Nov 1, 2003 American Sterilizer Employees Federal Credit Union PA Americo Federal Credit Union
Nov 1, 2003 Ocean County Postal Employees Federal Credit Union NJ First Harvest Federal Credit Union
Nov 1, 2003 Community National Bank MA Citizens Bank of Massachusetts
Nov 1, 2003 The Roslyn Savings Bank NY Flagstar Bank, N.A.
Nov 1, 2003 Rocky Mountain Employees Credit Union CO Advancial Federal Credit Union
Nov 1, 2003 Ojai Valley Bank CA Mid-State Bank & Trust
Nov 1, 2003 BankTrust of Brewton AL BankTrust
Nov 1, 2003 J&J Employee Credit Union TX MY Credit Union
Nov 1, 2003 Alpha Community Credit Union NC Piedmont Advantage Credit Union
Nov 1, 2003 First State Bank of Sinai SD Citizens State Bank of Arlington
Nov 1, 2003 Sullivan County Employees Credit Union TN Eastman Credit Union
Nov 1, 2003 O-SCC-VS Employee Federal Credit Union KY L&N Federal Credit Union
Nov 1, 2003 Providence Va Hospital Federal Credit Union RI Postal Government Employees Federal Credit Union
Nov 1, 2003 Metropacific Community Credit Union WA Qualstar Credit Union
Nov 1, 2003 Parker Elgin Federal Credit Union OH Pillar Credit Union, Inc
Nov 1, 2003 Dunlop Credit Union AL Family Security Credit Union
Nov 1, 2003 Traditions Credit Union WA Community 1st Credit Union
Oct 31, 2003 Cam - Co Transit Federal Credit Union PA G.A.P. Federal Credit Union
Oct 31, 2003 Metuchen-Edison Federal Credit Union NJ United Teletech Financial Federal Credit Union
Oct 31, 2003 Our Lady of Good Counsel Parish Credit Union IL Oak Trust Credit Union
Oct 31, 2003 First Colonial Group, Inc. PA KNBT Bancorp Inc.
Oct 31, 2003 Bank of Lecompte LA Red River Bank
Oct 31, 2003 W W M Federal Credit Union PA Usx Federal Credit Union
Oct 31, 2003 Deuel County State Bank NE Points West Community Bank
Oct 31, 2003 Coastline Community Credit Union CA Orange County's Federal Credit Union
Oct 27, 2003 Raccoon Valley State Bank IA Raccoon Valley Bank
Oct 27, 2003 Dallas Investment Company IA Perry Investment Company
Oct 25, 2003 The Martin County National Bank of Fairmont MN Profinium, Inc.
Oct 24, 2003 Fredericktown Bank & Trust Company MD Farmers & Mechanics Bank
Oct 24, 2003 Sarasota Bancorporation, Inc. FL The Colonial Bancgroup, Inc.
Oct 23, 2003 American National Bank IA American National Bank
Oct 23, 2003 Page State Bank ND Quality Bank
Oct 23, 2003 Page Bank Holding Company ND Quality Bankshares, Inc.
Oct 21, 2003 Western Bank & Trust National Association IA American National Bank
Oct 21, 2003 General Bank CA Cathay 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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