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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
Aug 8, 2003 Bank One, West Virginia, National Association WV Bank One, National Association
Aug 8, 2003 Farmers Savings Bank IA Kerndt Brothers Savings Bank
Aug 8, 2003 Bank One, Wheeling-Steubenville, National Association WV Bank One, National Association
Aug 6, 2003 Transims Federal Credit Union NY Sunmark Credit Union
Aug 2, 2003 Federation Credit Union PA Eagle One Federal Credit Union
Aug 1, 2003 Sun Country Credit Union NM First Financial Credit Union
Aug 1, 2003 Premier Bancorp, Inc PA Fulton Financial Corporation
Aug 1, 2003 Valley Bancorp, Inc. AZ Marquette Financial Companies
Aug 1, 2003 Ut Student Federal Credit Union OH University of Toledo Federal Credit Union
Aug 1, 2003 Marion County Credit Union FL Gte Federal Credit Union dba Gte Financial
Aug 1, 2003 Greater Grace Temple Federal Credit Union MI Michigan First Credit Union
Aug 1, 2003 Utah Copper Employees Credit Union UT Mountain America Federal Credit Union
Aug 1, 2003 Meadow Brook Employees Federal Credit Union PA Erie Times Employees Federal Credit Union
Aug 1, 2003 U.S. Trust Company of North Carolina NC U.S. Trust Company, National Association
Aug 1, 2003 LC Federal Credit Union PA Scranton Downtown Federal Credit Union
Aug 1, 2003 CambridgePort Bank MA Citizens Bank of Massachusetts
Aug 1, 2003 Pacesetter Credit Union MO United Consumers Credit Union
Aug 1, 2003 Aiea Federal Credit Union HI Hawaiian Financial Federal Credit Union
Jul 31, 2003 Martin County Fidelity Bancshares Company MN Profinium Financial Holdings, Inc.
Jul 31, 2003 Latvian Credit Union MA Tremont Credit Union
Jul 31, 2003 Ukrainian Credit Union WI Educators Credit Union
Jul 31, 2003 Plan Credit Union MA Tremont Credit Union
Jul 30, 2003 First Security Corporation MN Servus Financial Corporation
Jul 25, 2003 Kenwood Savings Bank OH Peoples Community Bank
Jul 25, 2003 First Commerce Bank NC Bank of Granite
Jul 25, 2003 First American Bank MS Liberty Bank and Trust Company
Jul 22, 2003 Fidelity Federal Savings Bank IL Midamerica Bank, FSB
Jul 19, 2003 Hawkeye State Bank IA West Bank
Jul 19, 2003 Today's Bank WA Riverview Bank
Jul 18, 2003 First Choice Community Federal Credit Union CO Bellco Credit Union
Jul 16, 2003 First Commerce Corporation NC Bank of Granite Corporation
Jul 16, 2003 Pend Oreille Bancorp ID Glacier Bancorp, Inc.
Jul 16, 2003 Fall River Herald News Employees Federal Credit Union MA Fall River Municipal Credit Union
Jul 16, 2003 Pend Oreille Bank ID Mountain West Bank
Jul 15, 2003 Central National Investment, Inc. KS Central National Bank
Jul 14, 2003 First State Bank of Emmons MN Security Bank Minnesota
Jul 12, 2003 First Continental Bank CA United Commercial Bank
Jul 12, 2003 Central Sierra Bank CA Central California Bank
Jul 12, 2003 South Carolina Bank and Trust of the Pee Dee, National Association SC South State Bank
Jul 12, 2003 Farmers State Bank of Silver Creek NE Bank of Clarks
Jul 11, 2003 Advance Bank IL Charter One Bank, National Association
Jul 11, 2003 White Plains Teachers Federal Credit Union NY Educational and Governmental Employees Federal Credit Union
Jul 11, 2003 State Bank of Kingsville TX Bank of South Texas
Jul 9, 2003 MSB Shares, Inc. AR Liberty Bancshares, Inc
Jul 4, 2003 Southland Business Bank CA Vineyard Bank, N.A.
Jul 4, 2003 Allfirst Financial Center National Association DE Manufacturers and Traders Trust Company
Jul 2, 2003 First Virginia Banks, Inc. VA Truist Financial Corporation
Jul 2, 2003 Va New England Federal Credit Union MA Hanscom Federal Credit Union
Jul 1, 2003 Daily Times Employees Fcu PA Sun East Federal Credit Union
Jul 1, 2003 Barnard & Burk Federal Credit Union LA Breco 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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