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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
Sep 3, 2003 Tejas Force, Inc. DE Ibid, Inc.
Sep 3, 2003 Tejas Bancshares, Inc. MN Ibid, Inc.
Sep 2, 2003 Mountain State Federal Credit Union MT Altana Federal Credit Union
Sep 2, 2003 State Bank of Moorhead MN Bell Bank
Sep 2, 2003 Fort Hood Military Federal Credit Union TX Pentagon Federal Credit Union
Sep 2, 2003 State Bank of West Fargo ND Bell Bank
Sep 2, 2003 KC Credit Union MN Firefly Federal Credit Union
Sep 2, 2003 San Antonio Women's Credit Union TX Select Federal Credit Union
Sep 2, 2003 Heartland Credit Union IA Greater Iowa Credit Union
Sep 1, 2003 Citifinancial, Inc. 486, LLC MD Citifinancial, INC.<OH>
Sep 1, 2003 Citifinancial Services, Inc. 384, LLC MD Cfna Receivables (Pa), Inc.
Sep 1, 2003 Indianapolis Railroad Employees Credit Union IN Indiana Members Credit Union
Sep 1, 2003 Arapahoe County Funding Company CO Capitol Bancorporation, Inc.
Sep 1, 2003 Postal 1st Credit Union UT Utah First Federal Credit Union
Sep 1, 2003 United Savings and Loan Bank WA WaFd Bank
Sep 1, 2003 E F I Employees Credit Union WI Shipbuilders Credit Union
Sep 1, 2003 Arapahoe Bank and Trust CO First National Bank
Sep 1, 2003 Members Edge Federal Credit Union PA Pittsburgh Federal Credit Union
Sep 1, 2003 Associated Metro Federal Credit Union MI Village Community Credit Union
Sep 1, 2003 Friendly Credit Union AL Navigator Federal Credit Union
Sep 1, 2003 Rainbow Credit Union KS Ark Valley Credit Union
Sep 1, 2003 U.S. Trust Company of Florida, National Association FL U.S. Trust Company, National Association
Sep 1, 2003 Teamsters Credit Union WA Seattle Metropolitan Credit Union
Aug 30, 2003 Corwith State Bank IA Iowa State Bank
Aug 30, 2003 Centennial Bank NC Vantagesouth Bank
Aug 30, 2003 Baldwin Bancshares, Inc. GA GB&T Bancshares, Inc.
Aug 30, 2003 Citibank (New York State) NY Citibank, N.A.
Aug 29, 2003 Fifth Third Processing Solutions OH Fifth Third Bank, N.A.
Aug 29, 2003 Corwith State Bancshares, Inc. IA Corwith State Bank
Aug 29, 2003 Security Bankshares, Inc. TX City Delaware Bancorp, Inc.
Aug 29, 2003 Community National Bank of Grand Forks ND Community Bank of the Red River Valley
Aug 28, 2003 Carlyle and Company Credit Union NC Truliant Federal Credit Union
Aug 26, 2003 Asiana Bank CA Nara Bank
Aug 25, 2003 CSB Financial Corp. NJ Lakeland Bancorp, Inc.
Aug 25, 2003 Community State Bank NJ Lakeland Bank
Aug 23, 2003 Southern Community Bank, Atlantic FL Trustmark Bank
Aug 23, 2003 Verdugo Banking Company CA Banc of California
Aug 21, 2003 B.M.G. Credit Union, Inc. CT McKesson Federal Credit Union
Aug 21, 2003 Hume Bancshares, Inc. MO Hume Bancshares Acquisition Corp
Aug 18, 2003 Dicey Federal Credit Union NC Truliant Federal Credit Union
Aug 16, 2003 Secured Trust Bank TX Community Bank & Trust, S.S.B.
Aug 16, 2003 Marine National Bank of Naples FL Old Florida Bank
Aug 16, 2003 Marine Bancshares, Inc. FL Old Florida Bankshares, Inc.
Aug 16, 2003 WB&T Delaware Bancshares, Inc. DE Inwood Bancshares, Inc.
Aug 16, 2003 WB&T Bancshares, Inc. TX Inwood Bancshares, Inc.
Aug 16, 2003 Western Bank & Trust TX Inwood National Bank
Aug 13, 2003 F&M Bancorp MD Mercantile Bankshares Corporation
Aug 12, 2003 Carr-Lowrey Employees Federal Credit Union MD State Employees Credit Union of Maryland Inc.
Aug 11, 2003 Albany Community Development Federal Credit Union NY Broadview Federal Credit Union
Aug 11, 2003 Border State Bank MN Border Bank

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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