Calendar Year
2008 in US Banking
1,177 bank events are on record for 2008: 25 failures, 804 mergers or acquisitions involving a bank, credit union or bank holding company, and 343 enforcement actions.
25
Failures
$371.95B in failed assets
804
Mergers
Federal Reserve NIC, banking organizations
343
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
5
Assistance
FDIC open-bank assistance
Jump to: Bank failures 2008 · Bank mergers 2008
How many banks failed in 2008?
25 banks failed in 2008, with $371.95B in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
| Oct 31, 2008 | Freedom Bank | $270.8M |
| Oct 24, 2008 | Alpha Bank & Trust | $354.1M |
| Oct 10, 2008 | Main Street Bank | $112.4M |
| Oct 10, 2008 | Meridian Bank | $38.2M |
| Sep 25, 2008 | Washington Mutual Bank | $307.02B |
| Sep 19, 2008 | Ameribank, Inc. | $104.0M |
| Sep 5, 2008 | Silver State Bank | $1.96B |
| Aug 29, 2008 | Integrity Bank | $1.11B |
| Aug 22, 2008 | The Columbian Bank and Trust Company | $735.1M |
| Aug 1, 2008 | First Priority Bank | $258.6M |
| Jul 25, 2008 | First National Bank of Nevada | $3.41B |
| Jul 25, 2008 | First Heritage Bank N.A. | $255.4M |
| Jul 11, 2008 | Indymac Bank F.S.B | $30.70B |
| May 30, 2008 | First Integrity Bank, N.A. | $52.9M |
| May 9, 2008 | ANB Financial N.A. | $1.90B |
| Mar 7, 2008 | Hume Bank | $18.7M |
| Jan 25, 2008 | Douglass National Bank | $52.8M |
Which banks merged in 2008?
804 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 2008.
See the fuller list: Bank mergers 2008 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Dec 31, 2008 | Huntsville Delaware Holdings, Inc. | First National Bancshares of Huntsville, Inc. |
| Dec 31, 2008 | Hillsboro Holdings, Inc. | Hillsboro Bancshares, Inc. |
| Dec 31, 2008 | Woodtrust Mortgage Professionals, Inc. | Woodtrust Bank |
| Dec 31, 2008 | Liberty Bank | USAmeriBank |
| Dec 31, 2008 | Genpass Technologies, LLC | U.S. Bank N.A. |
| Dec 31, 2008 | U.S. Bancorp Card Services, Inc. | U.S. Bank N.A. |
| Dec 31, 2008 | First Deposit Bancshares, Inc. | South Central Bancshares of Kentucky, Inc. |
| Dec 31, 2008 | Wachovia Corporation | Wells Fargo & Company |
| Dec 31, 2008 | National City Corporation | The PNC Financial Services Group, Inc. |
| Dec 31, 2008 | NKC Bancshares, Inc. | CCB Financial Corporation |
| Dec 31, 2008 | Steuben Federal Credit Union | Esb Employees Federal Credit Union |
| Dec 31, 2008 | C W Credit Union | Schneider Community Credit Union |
| Dec 31, 2008 | Saint John Tremont Catholic Federal Credit Union | Unity Catholic Federal Credit Union |
| Dec 31, 2008 | First Bank and Trust of Mississippi | First Bank and Trust |
| Dec 31, 2008 | Wisconsin Lutheran High School Conference Credit Union | Appletree Credit Union |
| Dec 31, 2008 | Inter-Island Federal Credit Union | Aloha Pacific Federal Credit Union |
| Dec 31, 2008 | Peoples Bank of Louisiana | First Bank and Trust |
| Dec 31, 2008 | St John Latvian Federal Credit Union | Servco Federal Credit Union |
| Dec 31, 2008 | Gateway Financial Holdings, Inc. | Xenith Bankshares, Inc. |
| Dec 31, 2008 | Cameron Financial Corporation of Delaware, Inc. | Cameron Financial Corporation |
| Dec 31, 2008 | Signature Delaware Financial Corporation | Signature Bancshares, Inc. |
| Dec 31, 2008 | FFP, Inc. | Frontier Bank |
| Dec 31, 2008 | First Security Usb GP, Inc. | U.S. Bank N.A. |
| Dec 31, 2008 | Priority Community Credit Union | Zeal Credit Union |
| Dec 31, 2008 | Paramount Bank | Paramount Bank |
| Dec 31, 2008 | Bedias Holding, Inc. | Bedias Financial Corp. |
| Dec 30, 2008 | F&M Bancorporation | First Bancshares of Stevenson, Inc. |
| Dec 30, 2008 | Iuisthe Federal Credit Union | County Excellence Federal Credit Union |
| Dec 30, 2008 | Farmers and Merchants Bank | First Southern State Bank |
| Dec 30, 2008 | New England Trust Company, N.A. | National City Bank |
| Dec 30, 2008 | Gilmer National Bancshares Delaware, Inc. | Gilmer National Bancshares, Inc. |
| Dec 29, 2008 | Palmer Bancshares of Delaware, Inc. | Palmer Bancshares, Inc. |
| Dec 22, 2008 | FSB Bancshares of Delaware, Inc. | FSB Bancshares, Inc. |
| Dec 22, 2008 | First Crockett Bancshares, Inc. | F C Holdings, Inc. |
| Dec 20, 2008 | Reading Tube Employees Federal Credit Union | Discovery Federal Credit Union |
| Dec 20, 2008 | Sovdelaware, Inc. | Sovereign Bancshares, Inc. |
| Dec 20, 2008 | HSBC National Bank USA | HSBC Bank USA, N.A. |
| Dec 19, 2008 | Community Bank & Trust Company Retained Charter | Central Bank of Oklahoma |
| Dec 19, 2008 | Crockett Delaware Bancshares, Inc. | First Crockett Bancshares, Inc. |
| Dec 17, 2008 | Banco Popular, N.A. | Popular North America, Inc. |
| Dec 17, 2008 | Hickory Hill Delaware Financial Corporation | Hickory Hill Bancshares, Inc. |
| Dec 17, 2008 | East Texas Delaware Financial Corporation | East Texas Bancorp, Inc. |
| Dec 17, 2008 | Lone Star Delaware Financial Corporation | Lone Star Bancshares, Inc. |
| Dec 17, 2008 | Alfred/Allegany Educational Employee Federal Credit Union | Servu Federal Credit Union |
| Dec 16, 2008 | (unnamed) | Haverhill Bank |
| Dec 16, 2008 | Crosby Bancshares of Delaware, Inc. | Newton Delaware Financial Corporation |
| Dec 16, 2008 | Crosby Bancshares, Inc. | Stellar Bancorp Inc. |
| Dec 16, 2008 | Portland Maine Transit Federal Credit Union | Truchoice Federal Credit Union |
| Dec 16, 2008 | Financial Services Credit Union | Puget Sound Federal Credit Union |
| Dec 16, 2008 | Westside Credit Union | Puget Sound Federal Credit Union |
The list holds 500 of the 804 mergers recorded for 2008.
Enforcement Actions in 2008
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Oct 1, 2008 | OCC | Abigail Adams National Bancorp, Inc. | Formal Agreement: The Adams National Bank |
| Oct 1, 2008 | OCC_OTS | United Trust Bank | Termination of Cease and Desist: United Trust Bank |
| Sep 30, 2008 | OCC | Beach First National Bank | Formal Agreement: Beach First National Bank |
| Sep 30, 2008 | OCC_OTS | United Bancorp, Inc. | Supervisory Agreement: United Bancorp, Inc. |
| Sep 30, 2008 | OCC | The National Bank of Malvern | Formal Agreement: The National Bank of Malvern |
| Sep 29, 2008 | OCC | Heritage Bank, N.A. | Formal Agreement: Heritage Bank, National Association |
| Sep 26, 2008 | OCC_OTS | Pamrapo Bancorp, Inc. | Cease and Desist: Pamrapo Savings Bank, SLA |
| Sep 25, 2008 | OCC | The First National Bank of Olathe | Formal Agreement: The First National Bank of Olathe |
| Sep 25, 2008 Released Sep 29, 2008 | FRB | Compass Bank | Prohibition from Banking: Donald W. Linville |
| Sep 25, 2008 Released Sep 29, 2008 | FRB | The Bank of Romney | Civil Money Penalty $2,750: Bank of Romney, Romney, WV |
| Sep 23, 2008 Released Sep 25, 2008 | FRB | Vineyard National Bancorp | Written Agreement: Vineyard National Bancorp, Corona, California |
| Sep 19, 2008 | FRB | (individual) | Section 19 Letters: Kimberly A. Fair |
| Sep 19, 2008 | FRB | (individual) | Section 19 Letters: Elizabeth, LeMaster |
| Sep 19, 2008 | FRB | RBC Centura Bank | Section 19 Letters: Darrell Maurice Edwards |
| Sep 19, 2008 | OCC_OTS | BankUnited Financial Corporation | Cease and Desist: BankUnited FSB |
| Sep 19, 2008 | OCC_OTS | BankUnited Financial Corporation | Cease and Desist: BankUnited Financial Corporation |
| Sep 19, 2008 | OCC_OTS | Lincoln Savings and Loan Association, F.A. | Termination of Cease and Desist: Robert H. Jenkins |
| Sep 19, 2008 | FRB | RBC Centura Bank | Section 19 Letters: Milton Lowry Hagelberger |
| Sep 18, 2008 | OCC | First Bank of Baldwin County | Formal Agreement: First National Bank of Baldwin County |
| Sep 18, 2008 Released Oct 1, 2008 | FRB | (recovered) | Written Agreement: Warren Bancorp, Inc., Warren, Michigan, Warren Bank, Warren, Michigan |
| Sep 17, 2008 | OCC | Old National Bank | Civil Money Penalty (CMP): Old National Bank |
| Sep 17, 2008 | FRB | Second Bank & Trust | Section 19 Letters: Stephen Wayne VanReenen |
| Sep 17, 2008 | OCC | Douglass National Bank | Prohibition/Removal Orders: McMinn, Mark S. |
| Sep 17, 2008 | OCC | First Citizens Bank of Polson, National Association | Formal Agreement: First Citizens Bank of Polson, National Association |
| Sep 17, 2008 | OCC | Douglass National Bank | Civil Money Penalty (CMP): McMinn, Mark S. |
| Sep 16, 2008 | OCC_OTS | Inter Savings Bank, Federal Savings Bank | Cease and Desist: Inter Savings Bank, FSB |
| Sep 15, 2008 | OCC | Canyon National Bank | Formal Agreement: Canyon National Bank |
| Sep 12, 2008 Released Sep 23, 2008 | FRB | Community Banks of Northern California | Written Agreement: Community Banks of Northern California, Tracy, California |
| Sep 12, 2008 | OCC | Commerce Bank, National Association | Prohibition/Removal Orders: Diamante, Anthony |
| Sep 12, 2008 | OCC | Los Angeles Federal Savings Bank | Prohibition/Removal Orders: Contreras, Madai |
| Sep 12, 2008 | OCC | Paragon Bank | Formal Agreement: Paragon National Bank |
| Sep 11, 2008 | OCC | Colonial Bank | Prohibition/Removal Orders: Woodham, Joy E. |
| Sep 11, 2008 | OCC | Farmers Bank & Trust, National Association | Formal Agreement: Farmers Bank & Trust, National Association |
| Sep 11, 2008 Released Sep 19, 2008 | FRB | First Georgia Community Bank | Written Agreement: First Georgia Community Corp., Jackson, Georgia, First Georgia Community Bank, Jackson, Georgia |
| Sep 11, 2008 Released Sep 23, 2008 | FRB | Community Bank of West Georgia | Written Agreement: Community Bank of West Georgia, Villa Rica, Georgia |
| Sep 11, 2008 | OCC | First National Bank of Brookfield | Formal Agreement: First National Bank of Brookfield |
| Sep 11, 2008 | OCC | First National Bank | Prohibition/Removal Orders: Morrow, Cheree A. |
| Sep 10, 2008 Released Sep 17, 2008 | FRB | Hastings Bancorp, Inc. | Written Agreement: Hastings Bancorp, Inc., Hastings, Nebraska |
| Sep 10, 2008 | OCC | (individual) | Formal Agreement: First National Bank |
| Sep 9, 2008 | OCC | PiBank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Intercredit Bank, National Association |
| Sep 5, 2008 | OCC_OTS | Downey Savings and Loan Association, F.A. | Cease and Desist: Downey Savings and Loan Association, F.A. |
| Sep 5, 2008 | OCC_OTS | Downey Financial Corp | Cease and Desist: Downey Financial Corp. |
| Sep 4, 2008 | OCC_OTS | American Bank | Cease and Desist: American Bank |
| Sep 4, 2008 | FRB | Regions Bank | Section 19 Letters: Jhermira S. Dickerson |
| Sep 4, 2008 | FRB | Regions Bank | Section 19 Letters: Heather N. Simmons |
| Sep 3, 2008 | OCC | First National Bank and Trust Company | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank and Trust Company |
| Sep 3, 2008 | OCC | Colorado National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Colorado National Bank |
| Sep 2, 2008 Released Sep 10, 2008 | FRB | (individual) | Written Agreement: Newnan Coweta Bancshares, Inc., Newnan, Georgia, Neighborhood Community Bank, Newnan, Georgia |
| Sep 2, 2008 | OCC | Teambank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Teambank, National Association |
| Aug 29, 2008 | FRB | Waccamaw Bank | Section 19 Letters: Barbara J. Evans |
FDIC Open-Bank Assistance in 2008
| Date | Institution | Assets |
|---|---|---|
| Nov 23, 2008 | Citibank, N.A. | $1.21T |
| Nov 23, 2008 | Citibank (South Dakota), N.A. | $77.74B |
| Nov 23, 2008 | Citicorp Trust Bank, FSB | $19.60B |
| Nov 23, 2008 | Citibank (Banamex USA) | $1.32B |
| Nov 23, 2008 | Department Stores National Bank | $374.9M |
Browse adjacent years: 2007 · 2009
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