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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
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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