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 | Assets |
|---|---|---|
| Nov 14, 2003 | Pulaski Savings Bank | $8.5M |
| May 9, 2003 | The First National Bank of Blanchardville | $34.5M |
| Feb 7, 2003 | Southern Pacific Bank | $904.3M |
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 | Acquirer |
|---|---|---|
| Oct 1, 2003 | BBC Federal Credit Union | Allegacy Federal Credit Union |
| Oct 1, 2003 | Chicago First Credit Union | Credit Union 1 |
| Oct 1, 2003 | Warwick Postal Employees Federal Credit Union | Postal Government Employees Federal Credit Union |
| Oct 1, 2003 | Mid-County Family Credit Union | County Credit Union |
| Oct 1, 2003 | Midamerican Bancshares, Inc. | Midamerican Bancshares, Inc. |
| Oct 1, 2003 | Quick Bancorp, Inc. | American National Corporation |
| Oct 1, 2003 | Dunc Corp. | Blackhawk Bancorp, Inc. |
| Oct 1, 2003 | CFC Data Corp | TCF Financial Corporation |
| Oct 1, 2003 | Rea Federal Credit Union | Fire Police City County Federal Credit Union |
| Oct 1, 2003 | The Minute Maid Company Federal Credit Union | Coca-Cola Federal Credit Union |
| Oct 1, 2003 | Virginia Hospital Employees Federal Credit Union | Connects Federal Credit Union |
| Oct 1, 2003 | W.F.B. Employees Credit Union | Summit Credit Union |
| Oct 1, 2003 | County of Erie Pennsylvania Federal Credit Union | Erie Federal Credit Union |
| Oct 1, 2003 | G T C Lafayette Federal Credit Union | Purdue Federal Credit Union |
| Oct 1, 2003 | Englewood Credit Union | U.S. Employees Credit Union |
| Sep 30, 2003 | Village Savings Bank, F.S.B. | Main Street Bank Corp. |
| Sep 30, 2003 | CSB Preferred Capital Corp | Legacy Banks |
| Sep 30, 2003 | Eau Claire Financial Services, Inc. | Alliance Financial Services, Inc. |
| Sep 30, 2003 | Citizens Utilities Federal Credit Union | Sunwest Federal Credit Union |
| Sep 30, 2003 | Commercial News Credit Union | Tee-Pak Credit Union |
| Sep 30, 2003 | Copley Los Angeles Federal Credit Union | Calcom Federal Credit Union |
| Sep 30, 2003 | Utah Oil Workers Credit Union | Utah First Federal Credit Union |
| Sep 29, 2003 | FCB Acquisition, LLC | First Charter Bank |
| Sep 29, 2003 | FSB Agency, Inc. | FSB Bank |
| Sep 27, 2003 | (unnamed) | Mercantile County Bank |
| Sep 27, 2003 | Madison Bank and Trust | Anstaff Bank |
| Sep 26, 2003 | MidSouth Bank | Liberty Bank of Arkansas |
| Sep 26, 2003 | Carolina State Bank | Arthur State Bank |
| Sep 26, 2003 | Cumberland National Bank | The Heritage Bank |
| Sep 26, 2003 | First Virginia Insurance Services, Inc. | Truist Bank |
| Sep 26, 2003 | Northwest Teachers Vea Credit Union | 802 Credit Union |
| Sep 24, 2003 | FSGBank, National Association | Fsgbank, N.A. |
| Sep 24, 2003 | FSGBANK, National Association | Fsgbank, N.A. |
| Sep 22, 2003 | Newton South Co-operative Bank | The Village Bank |
| Sep 20, 2003 | Kaweah National Bank | Citizens Business Bank, N.A. |
| Sep 18, 2003 | Tuffy Credit Union | United Consumers Credit Union |
| Sep 15, 2003 | Mellon Bank Delaware, National Association | BNY Mellon, N.A. |
| Sep 12, 2003 | Panasia Bank, National Association | Woori America Bank |
| Sep 12, 2003 | Associated Card Services Bank, N.A. | Associated Bank, N.A. |
| Sep 11, 2003 | Captree Federal Credit Union | Warden Captree Federal Credit Union |
| Sep 10, 2003 | Chesnee State Bancshares, Inc. | Arthur Financial Corporation |
| Sep 10, 2003 | Woodruff State Bancshares, Inc. | Arthur Financial Corporation |
| Sep 10, 2003 | Arthur State Bancshares, Inc. | Arthur Financial Corporation |
| Sep 8, 2003 | Stratton Agency, Inc. | MNB Financial Group, Inc. |
| Sep 8, 2003 | Commercial Bank | MNB Bank |
| Sep 6, 2003 | Peoples Bankcorp, Inc. | Community Financial System, Inc. |
| Sep 6, 2003 | Ogdensburg Federal Savings and Loan Association | Community Bank, N.A. |
| Sep 4, 2003 | Texas Bancshares Subsidiary Corporation | Ibid, Inc. |
| Sep 4, 2003 | Fidelity Bancorporation, Inc. | Ibid, Inc. |
| Sep 3, 2003 | Fayetteville Bancshares, Inc. | Industry Bancshares, Inc. |
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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