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 |
|---|---|---|
| Nov 3, 2008 | Forsyth County Employees Credit Union | Summit Credit Union |
| Nov 1, 2008 | McCamey Financial Delaware Corporation | Security Star Bancshares, Inc. |
| Nov 1, 2008 | Tahoka First Financial, Inc. | Tahoka First Bancorp, Inc. |
| Nov 1, 2008 | Bay Community Bank | Atlantic Union Bank |
| Nov 1, 2008 | State of Franklin Bancshares, Inc. | Jefferson Bancshares, Inc. |
| Nov 1, 2008 | Comerica West Incorporated | Comerica Bank |
| Nov 1, 2008 | Esbt, Inc. | Ennis Bancshares, Inc. |
| Nov 1, 2008 | CNB, Inc. | Centrabanc Corporation |
| Nov 1, 2008 | Citizens Bank of Jessamine County | United Bank & Trust Company |
| Nov 1, 2008 | Monahans Delaware Financial Corporation | Security Star Bancshares, Inc. |
| Nov 1, 2008 | First National Monahans Bancshares, Inc. | Security Star Bancshares, Inc. |
| Nov 1, 2008 | (unnamed) | Jefferson Federal Bank |
| Nov 1, 2008 | Community Bankshares, Inc. | First Citizens Bank and Trust Company, Inc. |
| Nov 1, 2008 | Community Resource Bank, National Association | First Citizens Bank and Trust Company, Inc. |
| Nov 1, 2008 | First National Bancshares of Nelsonville, Inc. | FNB Shares, Inc. |
| Nov 1, 2008 | Grimes Credit Union, Inc. | Wright-Patt Credit Union, Inc. |
| Nov 1, 2008 | Summit Credit Union | Summit Credit Union |
| Nov 1, 2008 | Janesville Municipal Employees Credit Union | First Community Credit Union of Beloit |
| Nov 1, 2008 | The Citadel Bank | UMB Bank Colorado, National Association |
| Nov 1, 2008 | North Star Federal Credit Union | Superior Credit Union Inc |
| Nov 1, 2008 | T and C Federal Credit Union | Genisys Credit Union dba Genisys Investment Services |
| Nov 1, 2008 | Dresser Bradford Fcu | Mountain Laurel Federal Credit Union |
| Nov 1, 2008 | Progressive Teachers Federal Credit Union | Chattanooga Area School Federal Credit Union |
| Nov 1, 2008 | Fort Defiance Community Federal Credit Union | Midwest Community Federal Credit Union |
| Nov 1, 2008 | Central Florida Heathcare Federal Credit Union | McCoy Federal Credit Union |
| Nov 1, 2008 | The Farmers Bank and Trust Company of Georgetown, Kentucky | United Bank & Trust Company |
| Nov 1, 2008 | Wilmington Trust of Pennsylvania | Wilmington Trust, National Association |
| Nov 1, 2008 | Clara Barton Federal Credit Union | Pentagon Federal Credit Union |
| Nov 1, 2008 | College Station Community Federal Credit Union | Hope Federal Credit Union |
| Nov 1, 2008 | Morton Savings Bank | Sharon Bank |
| Nov 1, 2008 | Indian Village Community Bank | The Commercial and Savings Bank of Millersburg, Ohio |
| Nov 1, 2008 | Intermountain Credit Union | America First Federal Credit Union |
| Nov 1, 2008 | Great American Community Credit Union | Bellco Credit Union |
| Nov 1, 2008 | The First National Bank of Nelsonville | The First National Bank of McConnelsville |
| Nov 1, 2008 | Auto Body Workers of Ionia Credit Union | Astera Credit Union dba Astera Investment Services |
| Nov 1, 2008 | Shawano Paper Mills Employees Credit Union | Covantage Credit Union |
| Nov 1, 2008 | Massac County Credit Union | Siu Credit Union |
| Oct 28, 2008 | FBT, Inc. | Fidelity Bancshares, Inc. |
| Oct 26, 2008 | Anchor Federal Credit Union | Wave Federal Credit Union |
| Oct 25, 2008 | Citizens & Merchants State Bank | Bank of North Georgia |
| Oct 25, 2008 | Citizens First Bank, Inc. | Traders Bank |
| Oct 25, 2008 | Citizens Bank and Trust of West Georgia | Bank of North Georgia |
| Oct 25, 2008 | Spalding City Bank | Citizens State Bank |
| Oct 25, 2008 | Valley Bank (National Association) | Liberty National Bank |
| Oct 20, 2008 | Benton Banking Company | Builtwell Bank |
| Oct 18, 2008 | Citizens Delaware Corporation | Lubco Bancshares, Inc. |
| Oct 18, 2008 | The Jackson State Bank | Wells Fargo Bank, N.A. |
| Oct 18, 2008 | Shoshone First Bank | Wells Fargo Bank, N.A. |
| Oct 18, 2008 | Sheridan State Bank | Wells Fargo Bank, N.A. |
| Oct 18, 2008 | First State Bank of Pinedale | Wells Fargo Bank, N.A. |
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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