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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 1, 2003 BBC Federal Credit Union NC Allegacy Federal Credit Union
Oct 1, 2003 Chicago First Credit Union IL Credit Union 1
Oct 1, 2003 Warwick Postal Employees Federal Credit Union RI Postal Government Employees Federal Credit Union
Oct 1, 2003 Mid-County Family Credit Union MO County Credit Union
Oct 1, 2003 Midamerican Bancshares, Inc. MO Midamerican Bancshares, Inc.
Oct 1, 2003 Quick Bancorp, Inc. IA American National Corporation
Oct 1, 2003 Dunc Corp. IL Blackhawk Bancorp, Inc.
Oct 1, 2003 CFC Data Corp MI TCF Financial Corporation
Oct 1, 2003 Rea Federal Credit Union IN Fire Police City County Federal Credit Union
Oct 1, 2003 The Minute Maid Company Federal Credit Union TX Coca-Cola Federal Credit Union
Oct 1, 2003 Virginia Hospital Employees Federal Credit Union VA Connects Federal Credit Union
Oct 1, 2003 W.F.B. Employees Credit Union WI Summit Credit Union
Oct 1, 2003 County of Erie Pennsylvania Federal Credit Union PA Erie Federal Credit Union
Oct 1, 2003 G T C Lafayette Federal Credit Union IN Purdue Federal Credit Union
Oct 1, 2003 Englewood Credit Union IL U.S. Employees Credit Union
Sep 30, 2003 Village Savings Bank, F.S.B. OH Main Street Bank Corp.
Sep 30, 2003 CSB Preferred Capital Corp MA Legacy Banks
Sep 30, 2003 Eau Claire Financial Services, Inc. MN Alliance Financial Services, Inc.
Sep 30, 2003 Citizens Utilities Federal Credit Union LA Sunwest Federal Credit Union
Sep 30, 2003 Commercial News Credit Union IL Tee-Pak Credit Union
Sep 30, 2003 Copley Los Angeles Federal Credit Union CA Calcom Federal Credit Union
Sep 30, 2003 Utah Oil Workers Credit Union UT Utah First Federal Credit Union
Sep 29, 2003 FCB Acquisition, LLC NC First Charter Bank
Sep 29, 2003 FSB Agency, Inc. MI FSB Bank
Sep 27, 2003 (unnamed) — Mercantile County Bank
Sep 27, 2003 Madison Bank and Trust AR Anstaff Bank
Sep 26, 2003 MidSouth Bank AR Liberty Bank of Arkansas
Sep 26, 2003 Carolina State Bank SC Arthur State Bank
Sep 26, 2003 Cumberland National Bank GA The Heritage Bank
Sep 26, 2003 First Virginia Insurance Services, Inc. VA Truist Bank
Sep 26, 2003 Northwest Teachers Vea Credit Union VT 802 Credit Union
Sep 24, 2003 FSGBank, National Association GA Fsgbank, N.A.
Sep 24, 2003 FSGBANK, National Association TN Fsgbank, N.A.
Sep 22, 2003 Newton South Co-operative Bank MA The Village Bank
Sep 20, 2003 Kaweah National Bank CA Citizens Business Bank, N.A.
Sep 18, 2003 Tuffy Credit Union MO United Consumers Credit Union
Sep 15, 2003 Mellon Bank Delaware, National Association DE BNY Mellon, N.A.
Sep 12, 2003 Panasia Bank, National Association NJ Woori America Bank
Sep 12, 2003 Associated Card Services Bank, N.A. WI Associated Bank, N.A.
Sep 11, 2003 Captree Federal Credit Union NY Warden Captree Federal Credit Union
Sep 10, 2003 Chesnee State Bancshares, Inc. SC Arthur Financial Corporation
Sep 10, 2003 Woodruff State Bancshares, Inc. SC Arthur Financial Corporation
Sep 10, 2003 Arthur State Bancshares, Inc. SC Arthur Financial Corporation
Sep 8, 2003 Stratton Agency, Inc. NE MNB Financial Group, Inc.
Sep 8, 2003 Commercial Bank NE MNB Bank
Sep 6, 2003 Peoples Bankcorp, Inc. NY Community Financial System, Inc.
Sep 6, 2003 Ogdensburg Federal Savings and Loan Association NY Community Bank, N.A.
Sep 4, 2003 Texas Bancshares Subsidiary Corporation MN Ibid, Inc.
Sep 4, 2003 Fidelity Bancorporation, Inc. MN Ibid, Inc.
Sep 3, 2003 Fayetteville Bancshares, Inc. TX Industry Bancshares, Inc.

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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