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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
Oct 21, 2003 GBC Bancorp CA Cathay General Bancorp
Oct 19, 2003 GLB Bancorp, Inc. OH SKY Financial Group, Inc.
Oct 18, 2003 Avery County Bank NC First-Citizens Bank & Trust Company
Oct 18, 2003 First Ridge Farm State Bank IL First Financial Bank, N.A.
Oct 18, 2003 Bell Federal Savings and Loan Association PA Northwest Bank
Oct 17, 2003 North Oakland Community Bank MI Community Central Bank
Oct 17, 2003 Pinnacle State Bank SC Arthur State Bank
Oct 17, 2003 (unnamed) — Centrue Bank
Oct 16, 2003 UBS (USA) Inc. CT UBS Americas Inc.
Oct 16, 2003 York Citizens Federal Credit Union AL Tuscaloosa Va Federal Credit Union
Oct 15, 2003 Lincoln National Bancorporation OK BancFirst Corporation
Oct 14, 2003 Pleasanton State Bank NE Town & Country Bank
Oct 11, 2003 First Virginia Bank - Colonial VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Coast Community Bancshares, Inc. MS Community Bancshares of Mississippi, Inc.
Oct 11, 2003 Sequoia Bancshares, Inc. MD Ubv Holding Company, LLC
Oct 11, 2003 Southern Exchange Bank FL First National Bank of Florida
Oct 11, 2003 First Vantage Bank /Tri-Cities VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Farmers Bank of Maryland MD Truist Bank
Oct 11, 2003 First Virginia Bank - Hampton Roads VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Liberty State Bank MN First Federal Capital Bank
Oct 11, 2003 First Virginia Bank VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 First Virginia Bank - Blue Ridge VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Sequoia Bank MD United Bank
Oct 11, 2003 First Virginia Bank-Southwest VA Branch Banking and Trust Company of Virginia
Oct 11, 2003 Atlantic Bank MD Truist Bank
Oct 10, 2003 Valley Bank of Arizona AZ Meridian Bank, National Association
Oct 9, 2003 Aviston Financial Corporation IL Centrue Financial Corporation
Oct 9, 2003 Floodwood Agency, Inc. MN Finlayson Bancshares, Inc.
Oct 4, 2003 Suburban Community Bank PA Univest Bank and Trust Co.
Oct 4, 2003 The First National Bank of Grove OK The First National Bank and Trust Company of Vinita
Oct 3, 2003 Document Processing & Imaging Corporation ND Frandsen Financial Corporation
Oct 3, 2003 MountainBank NC Carolina First Bank
Oct 3, 2003 Mountainbank Financial Corporation NC The South Financial Group, Inc.
Oct 3, 2003 The Garber Employees Credit Union, Inc. OH Ashland Community Federal Credit Union
Oct 2, 2003 First National Bank of Bellaire TX Tradition Bank - Bellaire
Oct 2, 2003 Cedar Valley State Bank IA Valley Bank
Oct 2, 2003 Eloise Credit Union MI Chief Financial Federal Credit Union
Oct 1, 2003 Cambria-Somerset C O G Federal Credit Union PA Healthcare First Credit Union
Oct 1, 2003 Bismarck Telco Federal Credit Unin ND Railway Credit Union
Oct 1, 2003 Saint Ignatius Parish Credit Union, Inc. OH Firefighters Community Cu
Oct 1, 2003 Enfield Federal Credit Union CT Enfield Community Federal Credit Union
Oct 1, 2003 Johnson City Federal Employees Credit Union TN Greater Experience Credit Union
Oct 1, 2003 Cooperative Federal Credit Union NY Consumers Federal Credit Union
Oct 1, 2003 Washco Community Credit Union OR First Community Credit Union
Oct 1, 2003 First Bank, bc IL Blackhawk Bank
Oct 1, 2003 Basf Employee Federal Credit Union SC S.C. State Federal Credit Union
Oct 1, 2003 Blue Ridge Federal Credit Union VA Kemba Roanoke Federal Credit Union
Oct 1, 2003 Volunteer Federal Credit Union TN New South Credit Union
Oct 1, 2003 Gentelco West Federal Credit Union CA Pacific Community Credit Union
Oct 1, 2003 The First National Bank of Coulterville IL First State Bank of Campbell Hill

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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