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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
May 21, 2003 Golden Sands Bankshares, Inc. WI Feb Bancshares, Inc.
May 20, 2003 Inland Container Employees Credit Union TN Happy Valley Credit Union
May 17, 2003 Citizens Savings Bank and Trust Company VT Union Bank
May 17, 2003 First County Bank PA Univest Bank and Trust Co.
May 17, 2003 Carolina Community Bank, National Association SC First Bank
May 16, 2003 South Holland Trust & Savings Bank IL MB Financial Bank, National Association
May 16, 2003 Montana First National Bancorporation MT First National Bancorp, Inc.
May 16, 2003 Metropolitan Bank and Trust Company OH SKY Bank
May 15, 2003 Bank One, Oklahoma, National Association OK Bank One, National Association
May 15, 2003 Bank One, Kentucky, National Association KY Bank One, National Association
May 14, 2003 First State Bank of Heyworth IL First State Bank of Bloomington
May 12, 2003 First National Bank MN Border Bank
May 9, 2003 Kentucky Bancshares, Inc. KY Peoples Bancorp Inc.
May 9, 2003 Kentucky Bank & Trust KY Peoples Bank
May 8, 2003 Southwest State Corporation OK Southwest State Bank
May 8, 2003 Wichita Bancshares, Inc. OK Bank of the Wichitas
May 6, 2003 Abrams Centre National Bank TX Prosperity Bank
May 5, 2003 Marion Federal Credit Union OH United Federal Credit Union
May 3, 2003 Community Financial Services, Inc. TN CBS BANC-CORP.
May 3, 2003 Baptist Medical Center Credit Union FL Alive Credit Union
May 3, 2003 Hancock County Bank & Trust IA Liberty Bank, F.S.B.
May 1, 2003 (unnamed) — Interaudi Bank
May 1, 2003 First Georgia Holding, Inc. GA United Community Banks, Inc.
May 1, 2003 Bridge View Bancorp NJ Interchange Financial Services Corporation
May 1, 2003 Bridge View Bank NJ Interchange Bank
May 1, 2003 Marked Tree Bancshares, Inc. AR Pocahontas Bancorp, Inc.
May 1, 2003 Allen Bancshares, Inc. OK Farmers State Bank, Allen, Oklahoma
May 1, 2003 Dal-Gold Federal Credit Union OR First Community Credit Union
May 1, 2003 Highland Lakes Bank TX Franklin Bank, S.S.B.
May 1, 2003 Franklin Media Credit Union CA Meriwest Credit Union
May 1, 2003 Marked Tree Bank AR Iberiabank FSB
May 1, 2003 First Commonwealth Bank VA The First Bank and Trust Company
May 1, 2003 Los Robles Federal Credit Union CA Ventura County Credit Union
May 1, 2003 Boone County Community Credit Union IA MEMBERS1ST Community Credit Union
May 1, 2003 Goldsboro Firemens Credit Union NC First Carolina People's Credit Union
May 1, 2003 First Georgia Bank GA United Community Bank
May 1, 2003 New Hampshire Food Industry Credit Union NH St. Mary's Bank Credit Union
May 1, 2003 North Central Credit Union WA Numerica Credit Union
May 1, 2003 Canco Maryland Federal Credit Union MD Triple C 16 Federal Credit Union
May 1, 2003 Durham Veterans Administration Credit Union NC Vision Financial Federal Credit Union
May 1, 2003 MEMBERS1ST Credit Union IA MEMBERS1ST Community Credit Union
Apr 30, 2003 Metropolitan Financial Corporation OH SKY Financial Group, Inc.
Apr 30, 2003 Larue Bancshares, Inc. KY Citizens Union Bancorp of Shelbyville, Inc.
Apr 30, 2003 Banc of America Retirement Management, Inc. GA NB Holdings Corporation
Apr 30, 2003 Moraine Valley Federal Credit Union IL New Century Federal Credit Union
Apr 30, 2003 Elyria City Employees Credit Union, Inc. OH Achieve Credit Union, Inc.
Apr 28, 2003 Chowan Credit Union NC Generations Community Credit Union
Apr 26, 2003 LBA Savings Bank LA Iberiabank
Apr 26, 2003 Admiralty Bancorp, Inc. FL RBC Bank (USA)
Apr 26, 2003 Admiralty Bank FL RBC Bank (USA)

The list holds 500 of the 751 mergers recorded for 2003.

Enforcement Actions in 2003

Action date Agency Institution Action
Dec 30, 2003 OCC Security Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Security Trust Company, National Association
Dec 22, 2003 FRB Canadian Imperial Bank of Commerce Written Agreement: Canadian Imperial Bank of Commerce, Toronto, Ontario
Dec 22, 2003 OCC SNB Bank, N.A. Civil Money Penalty (CMP): Stuart, James Michael
Dec 22, 2003 OCC Hamilton Bank, N.A. C&D or PC&D Requiring Restitution: Masferrer, Eduardo
Dec 22, 2003 OCC Hamilton Bank, N.A. Civil Money Penalty (CMP): Masferrer, Eduardo
Dec 22, 2003 OCC Hamilton Bank, N.A. Prohibition/Removal Orders: Masferrer, Eduardo
Dec 19, 2003 FRB Combanc, Inc. Written Agreement: Combanc, Delphos, OH and The Commercial Bank, Delphos, OH
Dec 18, 2003 OCC The First National Bank of Cambridge Formal Agreement: The First National Bank of Cambridge
Dec 18, 2003 OCC Bank One Trust Company, N.A. Prohibition/Removal Orders: Hall, Bianca C.
Dec 18, 2003 FRB Credit Lyonnais Civil Money Penalty 100,000,000: Credit Lyonnais, S.A.Paris, France
Dec 18, 2003 FRB Credit Lyonnais Cease and Desist Order: Credit Lyonnais, S.A.Paris, France
Dec 18, 2003 OCC First National Bank Colorado Formal Agreement: First National Bank - Colorado
Dec 17, 2003 OCC First National Bank in Homer Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank in Homer
Dec 16, 2003 FRB Credit Agricole S.A. Written Agreement: Credit Agricole, S.A.Paris, France
Dec 15, 2003 OCC First Community Bank and Trust Civil Money Penalty (CMP): Washburn, Kevin Brent
Dec 15, 2003 OCC First Community Bank and Trust Prohibition/Removal Orders: Washburn, Kevin Brent
Dec 15, 2003 OCC Dillard National Bank Formal Agreement: Dillard National Bank
Dec 12, 2003 OCC Wells Fargo Bank, National Association Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Smith-Kirk, Wendi
Dec 8, 2003 OCC Citizens National Bank of Albion C&D or PC&D Requiring Restitution: Hanneken, Gregory J.
Dec 1, 2003 OCC_OTS Commercial Federal Bank, a Federal Savings Bank Orders of Removal/Prohibition: Jess D. Wehri
Dec 1, 2003 OCC First Central Bank McCook Formal Agreement: First Central Bank McCook, National Association
Nov 26, 2003 OCC Bank of America, N.A. Prohibition/Removal Orders: Zolezzi, Paul
Nov 25, 2003 FRB Provident Bank Civil Money Penalty $34,100: Provident Bank, Cincinnati, OH
Nov 25, 2003 FRB The Bank of Currituck Civil Money Penalty $16,000: The Bank of Currituck, Moyock, NC
Nov 24, 2003 OCC Security Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Security Trust Company, National Association
Nov 24, 2003 OCC First National Bank of Northern Kentucky C&D or PC&D Requiring Restitution: Thomas, Richard M.
Nov 24, 2003 OCC First National Bank of Northern Kentucky Civil Money Penalty (CMP): Thomas, Richard M.
Nov 24, 2003 OCC First National Bank of Northern Kentucky Prohibition/Removal Orders: Thomas, Richard M.
Nov 21, 2003 FRB Mellon Bank, N. A. Prohibition from Banking: Garfield C. Brown, Jr.
Nov 21, 2003 OCC BNY Mellon, N.A. Prohibition/Removal Orders: Brown, Garfield C.
Nov 20, 2003 OCC The First National Bank of Marquette Formal Agreement: The First National Bank of Marquette
Nov 20, 2003 OCC United Bank of Arizona Formal Agreement: United Arizona Bank, National Association
Nov 20, 2003 OCC The First National Bank of Paonia Formal Agreement: The First National Bank of Paonia
Nov 19, 2003 FRB Putnam County Bank Written Agreement: Putnam County Bank, Hurricane, WV
Nov 19, 2003 OCC Clear Lake National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Clear Lake National Bank
Nov 13, 2003 OCC_OTS Commercial Pacific Savings and Loan Association Termination of Cease and Desist: Daniel K. Dowling
Nov 13, 2003 OCC National City Corporation Civil Money Penalty (CMP): National City Bank
Nov 13, 2003 OCC_OTS Life Financial Corporation Cease and Desist: Robert K. Riley
Nov 13, 2003 OCC Dillard National Bank Formal Agreement: Dillard National Bank
Nov 10, 2003 OCC First Community Bank and Trust Civil Money Penalty (CMP): Benson, Wayne H.
Nov 10, 2003 OCC First Community Bank and Trust Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Benson, Wayne H.
Nov 7, 2003 OCC Clear Lake National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Clear Lake National Bank
Nov 7, 2003 OCC Clear Lake National Bank C&D or PC&D Requiring Restitution: Clear Lake National Bank
Nov 6, 2003 OCC BNY Mellon, N.A. C&D or PC&D Requiring Restitution: Brown, Garfield C.
Oct 31, 2003 OCC Hamilton Bank, N.A. C&D or PC&D Requiring Restitution: Bernace, Carlos
Oct 31, 2003 OCC Hamilton Bank, N.A. Prohibition/Removal Orders: Bernace, Carlos
Oct 31, 2003 OCC Hamilton Bank, N.A. Civil Money Penalty (CMP): Bernace, Carlos
Oct 30, 2003 FRB Gulf Bank Civil Money Penalty $4,550: Gulf Bank, Miami, FL
Oct 29, 2003 OCC (individual) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Lee, Stephen
Oct 29, 2003 OCC Security Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Security Trust Company, National Association

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