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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
Dec 5, 2003 Pittsburgh Financial Corp. PA First Commonwealth Financial Corporation
Dec 5, 2003 Sarasota Bank FL Colonial Bank
Dec 2, 2003 Caledonia Financial Corporation MI TCF Financial Corporation
Dec 1, 2003 Halekulani Federal Credit Union HI Hawaiian Financial Federal Credit Union
Dec 1, 2003 The Greenwich Bank & Trust Company CT Connecticut Community Bank, N.A.
Dec 1, 2003 Valley Communities Federal Credit Union MI United Financial Credit Union
Dec 1, 2003 Montgomery County Employees Credit Union PA American Heritage Federal Credit Union
Dec 1, 2003 American Metal Hose Employee Federal Credit Union CT Waterbury Connecticut Teachers Federal Credit Union
Dec 1, 2003 St. Francis Bank, F.S.B. WI Midamerica Bank, FSB
Dec 1, 2003 Catholic Credit Union TX Saint Joseph's Credit Union
Dec 1, 2003 Sho-Pan-Hi Federal Credit Union ID Icon Credit Union
Dec 1, 2003 Electrical Workers Credit Union, Inc. OH Pathways Financial Credit Union, Inc.
Dec 1, 2003 Hammermill Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2003 Al Tech Federal Credit Union NY Greater Chautauqua Federal Credit Union
Dec 1, 2003 S E S E Federal Credit Union CA Sunnyvale Federal Credit Union
Nov 30, 2003 Montana Media Credit Union MT Altana Federal Credit Union
Nov 30, 2003 Ackerman Credit Union, Inc. OH Kemba Financial Credit Union, Inc.
Nov 30, 2003 First National Bank IL First Financial Bank, N.A.
Nov 29, 2003 Kansas Farm Bureau Employees Credit Union KS Kansas State University Federal Credit Union
Nov 28, 2003 Bom Comloan, Inc. NV Bank One, National Association
Nov 27, 2003 Alabama Gas Credit Union AL 1st Resource Credit Union
Nov 27, 2003 St. Clair County Teachers Credit Union IL Vantage Credit Union
Nov 22, 2003 Grange National Banc Corp. PA Community Financial System, Inc.
Nov 22, 2003 Associated Bank Illinois, National Association IL Associated Bank, N.A.
Nov 22, 2003 Montana First National Bank MT First Montana Bank, Inc.
Nov 22, 2003 Grange National Bank PA Community Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Texas, National Association TX Wells Fargo Bank, N.A.
Nov 21, 2003 Rutherford Bank and Trust TN GreenBank
Nov 21, 2003 Independent Bankshares Corporation TN Green Bankshares, Inc.
Nov 21, 2003 First Independent Bank TN GreenBank
Nov 21, 2003 Averitt Express Savings Association Credit Union TN Southeast Financial Credit Union
Nov 21, 2003 Wells Fargo Bank West, National Association CO Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Nebraska, National Association NE Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Montana, National Association MT Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Alaska, National Association AK Wells Fargo Bank, N.A.
Nov 21, 2003 Wells Fargo Bank Wyoming, National Association WY Wells Fargo Bank, N.A.
Nov 18, 2003 Modesto Commerce Bank CA Bank of Stockton
Nov 18, 2003 Tuscaloosa Community Federal Credit Union AL Secure First Credit Union
Nov 18, 2003 Buffalo Telephone Employees Federal Credit Union NY The Summit Federal Credit Union
Nov 17, 2003 Memphis Nitrogen Federal Credit Union TN Southern Security Federal Credit Union
Nov 14, 2003 District 8 Federal Credit Union CO Air Academy Federal Credit Union
Nov 14, 2003 Community Bank of Kentucky, Inc. KY Your Community Bank
Nov 12, 2003 Dyno Employees NY Federal Credit Union NY Mid-Hudson Valley Federal Credit Union
Nov 10, 2003 First Heartland Bancorp IA Conover Bancorporation
Nov 8, 2003 The North American Bank and Trust Company CT Webster Bank, N.A.
Nov 8, 2003 Citizens Bank of Texas, National Association TX First Victoria National Bank
Nov 7, 2003 First Federal Savings Bank KY Kentucky Bank
Nov 7, 2003 Atlantic Savings Bank, F.S.B. SC Wachovia Bank, N.A.
Nov 3, 2003 Kaydon 6-G Federal Credit Union TN Hurd Employees Credit Union
Nov 3, 2003 Renaissance Federal Credit Union PA Omega Federal Credit Union

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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