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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
Jul 1, 2003 Columbus Southside Federal Credit Union OH Bmi Federal Credit Union
Jul 1, 2003 Are Fcu PA Superior Credit Union
Jul 1, 2003 United Florists Federal Credit Union CO Metrum Community Credit Union
Jul 1, 2003 T & C Credit Union, Inc. OH Canton School Employees Federal Credit Union
Jul 1, 2003 All-Steel Empl Fcu PA Choice One Community Federal Credit Union
Jul 1, 2003 Blue Flame Credit Union TN Blue Flame Credit Union
Jul 1, 2003 Greensburg Federal Credit Union PA U.A.L.U. 354 Federal Credit Union
Jul 1, 2003 TWH Credit Union MA Metro Credit Union
Jul 1, 2003 Reynolds Federal Credit Union PA Citadel Federal Credit Union
Jul 1, 2003 Mata Federal Credit Union TN Orion Federal Credit Union
Jul 1, 2003 US Customs Service Federal Credit Union DC Treasury Department Federal Credit Union
Jul 1, 2003 Farmland Industries Credit Union MO Communityamerica Federal Credit Union
Jul 1, 2003 Local 453 Maryland Federal Credit Union MD Act 1st Federal Credit Union
Jul 1, 2003 Maxim Bank TX Amegy Bank National Association
Jul 1, 2003 The Savings Bank and Trust Company OH Savings Bank & Trust
Jul 1, 2003 Lancaster First Federal Credit Union OH Lan-Fair Federal Credit Union
Jul 1, 2003 Monterey Bay Bank CA MUFG Union Bank, National Association
Jul 1, 2003 Marion County Teachers Federal Credit Union MS Centuryfirst Federal Credit Union
Jul 1, 2003 West Tex NM Federal Credit Union TX Heritage USA Federal Credit Union
Jul 1, 2003 Texas Steel Employee Credit Union TX MY Credit Union
Jul 1, 2003 West Essex Bank, FSB NJ Kearny Bank
Jul 1, 2003 C P Lutheran Cu PA Belco Community Credit Union
Jul 1, 2003 Kern's London Federal Credit Union KY L&N Federal Credit Union
Jul 1, 2003 The Bank of Yellville AR Arvest Bank
Jul 1, 2003 Gateway Credit Union MI Frankenmuth Credit Union
Jul 1, 2003 Crown Central Credit Union OR Oregonians Credit Union
Jul 1, 2003 Safhoneca Federal Credit Union PA GNC Community Federal Credit Union
Jul 1, 2003 Mountain Bancshares, Inc. AR Arvest Holdings, Inc.
Jul 1, 2003 Johnson Trust Company WI Johnson Bank
Jul 1, 2003 Freedom Trust Company NH First Financial Trust N.A.
Jul 1, 2003 First Bank & Trust TX GNB Financial, National Association
Jul 1, 2003 Mellon Growth Advisors LLC MA Mellon Trust of New England, National Association
Jun 30, 2003 Omal Plant Employees Credit Union, Inc. OH Ohio Valley Community Federal Credit Union
Jun 30, 2003 Comerica Bank - Texas TX Comerica Bank
Jun 30, 2003 Comerica Bank-California CA Comerica Bank
Jun 30, 2003 Riverview Community Employees Credit Union MI Shore to Shore Community Federal Credit Union
Jun 30, 2003 Millbrook Federal Credit Union AR Telcoe Federal Credit Union
Jun 28, 2003 The Farmers and Merchants State Bank KS American State Bank & Trust Company
Jun 28, 2003 American State Bancshares, Inc. KS American State Bancshares, Inc.
Jun 28, 2003 Progressive Bank, N.A. - Buckhannon WV Progressive Bank, N.A.
Jun 28, 2003 The United Banking Company GA Farmers & Merchants Bank
Jun 25, 2003 Mill Creek Bank UT Synchrony Bank
Jun 23, 2003 Industrial Credit Union NC Generations Community Credit Union
Jun 23, 2003 First Colony Bank GA Main Street Bank
Jun 20, 2003 First Federal Savings Bank of Ironton OH Classic Bank
Jun 20, 2003 Security Federal Bank & Trust IN Standard Bank and Trust Company
Jun 20, 2003 Uptown National Bank of Chicago IL Bridgeview Bank Group
Jun 19, 2003 Laguna Bancshares, Inc. TX K&T Financial Corporation
Jun 19, 2003 Laguna Bancshares of Delaware, Inc. DE K&T Financial Corporation
Jun 16, 2003 Citizens Bank and Trust Company IA MidWestOne 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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