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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
Jul 1, 2003 Columbus Southside Federal Credit Union OH Bmi Federal Credit Union
Jul 1, 2003 Are Fcu PA Superior Credit Union
Jul 1, 2003 United Florists Federal Credit Union CO Metrum Community Credit Union
Jul 1, 2003 T & C Credit Union, Inc. OH Canton School Employees Federal Credit Union
Jul 1, 2003 All-Steel Empl Fcu PA Choice One Community Federal Credit Union
Jul 1, 2003 Blue Flame Credit Union TN Blue Flame Credit Union
Jul 1, 2003 Greensburg Federal Credit Union PA U.A.L.U. 354 Federal Credit Union
Jul 1, 2003 TWH Credit Union MA Metro Credit Union
Jul 1, 2003 Reynolds Federal Credit Union PA Citadel Federal Credit Union
Jul 1, 2003 Mata Federal Credit Union TN Orion Federal Credit Union
Jul 1, 2003 US Customs Service Federal Credit Union DC Treasury Department Federal Credit Union
Jul 1, 2003 Farmland Industries Credit Union MO Communityamerica Federal Credit Union
Jul 1, 2003 Local 453 Maryland Federal Credit Union MD Act 1st Federal Credit Union
Jul 1, 2003 Maxim Bank TX Amegy Bank National Association
Jul 1, 2003 The Savings Bank and Trust Company OH Savings Bank & Trust
Jul 1, 2003 Lancaster First Federal Credit Union OH Lan-Fair Federal Credit Union
Jul 1, 2003 Monterey Bay Bank CA MUFG Union Bank, National Association
Jul 1, 2003 Marion County Teachers Federal Credit Union MS Centuryfirst Federal Credit Union
Jul 1, 2003 West Tex NM Federal Credit Union TX Heritage USA Federal Credit Union
Jul 1, 2003 Texas Steel Employee Credit Union TX MY Credit Union
Jul 1, 2003 West Essex Bank, FSB NJ Kearny Bank
Jul 1, 2003 C P Lutheran Cu PA Belco Community Credit Union
Jul 1, 2003 Kern's London Federal Credit Union KY L&N Federal Credit Union
Jul 1, 2003 The Bank of Yellville AR Arvest Bank
Jul 1, 2003 Gateway Credit Union MI Frankenmuth Credit Union
Jul 1, 2003 Crown Central Credit Union OR Oregonians Credit Union
Jul 1, 2003 Safhoneca Federal Credit Union PA GNC Community Federal Credit Union
Jul 1, 2003 Mountain Bancshares, Inc. AR Arvest Holdings, Inc.
Jul 1, 2003 Johnson Trust Company WI Johnson Bank
Jul 1, 2003 Freedom Trust Company NH First Financial Trust N.A.
Jul 1, 2003 First Bank & Trust TX GNB Financial, National Association
Jul 1, 2003 Mellon Growth Advisors LLC MA Mellon Trust of New England, National Association
Jun 30, 2003 Omal Plant Employees Credit Union, Inc. OH Ohio Valley Community Federal Credit Union
Jun 30, 2003 Comerica Bank - Texas TX Comerica Bank
Jun 30, 2003 Comerica Bank-California CA Comerica Bank
Jun 30, 2003 Riverview Community Employees Credit Union MI Shore to Shore Community Federal Credit Union
Jun 30, 2003 Millbrook Federal Credit Union AR Telcoe Federal Credit Union
Jun 28, 2003 The Farmers and Merchants State Bank KS American State Bank & Trust Company
Jun 28, 2003 American State Bancshares, Inc. KS American State Bancshares, Inc.
Jun 28, 2003 Progressive Bank, N.A. - Buckhannon WV Progressive Bank, N.A.
Jun 28, 2003 The United Banking Company GA Farmers & Merchants Bank
Jun 25, 2003 Mill Creek Bank UT Synchrony Bank
Jun 23, 2003 Industrial Credit Union NC Generations Community Credit Union
Jun 23, 2003 First Colony Bank GA Main Street Bank
Jun 20, 2003 First Federal Savings Bank of Ironton OH Classic Bank
Jun 20, 2003 Security Federal Bank & Trust IN Standard Bank and Trust Company
Jun 20, 2003 Uptown National Bank of Chicago IL Bridgeview Bank Group
Jun 19, 2003 Laguna Bancshares, Inc. TX K&T Financial Corporation
Jun 19, 2003 Laguna Bancshares of Delaware, Inc. DE K&T Financial Corporation
Jun 16, 2003 Citizens Bank and Trust Company IA MidWestOne 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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