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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
Jun 14, 2003 The Munford Union Bank TN First Citizens National Bank
Jun 14, 2003 American National Bank NE American National Bank
Jun 14, 2003 Allfirst Trust Company of Pennsylvania, N.A. PA Manufacturers and Traders Trust Company
Jun 14, 2003 Allfirst Trust Company N.A. VA Manufacturers and Traders Trust Company
Jun 14, 2003 Founders Bank MO Bank Midwest, N.A.
Jun 14, 2003 The Peoples State Bank KY Citizens Union Bank of Shelbyville
Jun 13, 2003 Upbancorp, Inc. IL Bridgeview Bancorp, Inc.
Jun 13, 2003 RVB Bancshares, Inc. AR Bank of the Ozarks Inc
Jun 13, 2003 River Valley Bank AR Bank OZK
Jun 13, 2003 (unnamed) — Keystone Bank
Jun 11, 2003 Murfreesboro Bancorp, Inc. TN FB Financial Corporation
Jun 11, 2003 Bank of Murfreesboro TN FirstBank
Jun 9, 2003 Union Planters Bank of Northwest Tennessee FSB TN Union Planters Bank, National Association
Jun 7, 2003 Berean Bank PA Advance Bank
Jun 7, 2003 The Commonwealth Bank VA First Community Bank
Jun 6, 2003 Advance Bancorp, Inc. IL Charter One Financial, Inc.
Jun 5, 2003 Gaylord Employees Tampa Federal Credit Union FL Trax Federal Credit Union
Jun 5, 2003 Gardner Credit Union IL Fort Financial Federal Credit Union
Jun 2, 2003 Charter 1 Bank MO Legends Bank
Jun 2, 2003 Lighthouse Community Bank SC Suntrust Bank
Jun 2, 2003 Efco Federal Credit Union PA Tri County Area Federal Credit Union
Jun 1, 2003 Keystone Historical Federal Credit Union PA Service 1st Federal Credit Union
Jun 1, 2003 BankDallas, SSB TX Prosperity Bank
Jun 1, 2003 (unnamed) — Legacy Banks
Jun 1, 2003 U.S. Trust Company CT U.S. Trust Company, National Association
Jun 1, 2003 Dir Credit Union VA Partners Financial Federal Credit Union
Jun 1, 2003 CM Federal Credit Union NJ New Jersey Community Federal Credit Union
Jun 1, 2003 GBC Employees Federal Credit Union PA Pagoda Federal Credit Union
Jun 1, 2003 Wisconsin Boys School Wales Credit Union WI Prime Financial Credit Union
Jun 1, 2003 Tokheim Employees Credit Union IN Partners 1st Federal Credit Union
Jun 1, 2003 Haymarket Credit Union IL Credit Union 1
Jun 1, 2003 Valley Community Federal Credit Union WA Sound Credit Union
Jun 1, 2003 Worth Community Credit Union IL Northstar Credit Union
Jun 1, 2003 Amana Employees Credit Union IA Community 1st Credit Union
Jun 1, 2003 Saha Credit Union TX Southside Credit Union
Jun 1, 2003 Vernonia Federal Credit Union OR Wauna Federal Credit Union
Jun 1, 2003 N-P Employees Credit Union SC Spero Financial Federal Credit Union
Jun 1, 2003 Steering Federal Credit Union AL Family Security Credit Union
Jun 1, 2003 Bay State Federal Savings Bank MA Compass Bank for Savings
Jun 1, 2003 Ross-Loos Federal Credit Union CA Northrop Grumman Federal Credit Union
May 31, 2003 Clear Lake National Bank TX Lone Star Capital Bank, National Association
May 31, 2003 GCCC, Inc. OH Charter One Bank, National Association
May 31, 2003 Banc Services Corp. OH Wayne Bancorp, Inc.
May 31, 2003 City National Bank and Trust Company, Hastings, Nebraska NE Heritage Bank
May 30, 2003 Great Western Bank SD Great Western Bank
May 24, 2003 The Bank of Laramie, National Association WY The American National Bank
May 24, 2003 CNB Holdings, Inc. VA Mountainbank Financial Corporation
May 24, 2003 Wyoming Bank and Trust Company, National Association WY The American National Bank
May 24, 2003 Stockgrowers State Bank, National Association WY The American National Bank
May 23, 2003 First Colony Bancshares, Inc. GA Main Street Banks, 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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