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 |
|---|---|---|
| Aug 1, 2008 | Clinton County Postal Credit Union | 1st Gateway Credit Union |
| Aug 1, 2008 | NBanC | NBC Oklahoma |
| Aug 1, 2008 | Colony Bank Ashburn | Colony Bank |
| Aug 1, 2008 | Colony Bank Southeast | Colony Bank |
| Jul 26, 2008 | The Continental National Bank of Harlowton | Citizens Bank & Trust Company |
| Jul 26, 2008 | Zion United Credit Union | Denver Community Credit Union dba Zing Credit Union |
| Jul 25, 2008 | First National Bank of Gwinnett | Suntrust Bank |
| Jul 25, 2008 | Home Town Bank of Villa Rica | Suntrust Bank |
| Jul 25, 2008 | United Bank & Trust Company | Suntrust Bank |
| Jul 25, 2008 | First National Bank of the South | Suntrust Bank |
| Jul 25, 2008 | Gainesville Bank & Trust | Suntrust Bank |
| Jul 25, 2008 | Community Trust Bank | Suntrust Bank |
| Jul 25, 2008 | Mountain State Bank | Suntrust Bank |
| Jul 21, 2008 | Countryside Bancshares, Inc. | Countryside Acquisition Corporation |
| Jul 21, 2008 | Countryside Bank | The Bank of Missouri |
| Jul 19, 2008 | MFB Financial (The "Savings Bank") | MutualBank |
| Jul 19, 2008 | Guaranty Bancshares, Inc. | Central Bancompany, Inc |
| Jul 19, 2008 | The Greene County Bank | Central Bank of The Ozarks |
| Jul 18, 2008 | Columbia County Farmers National Bank | Journey Bank |
| Jul 18, 2008 | Columbia Financial Corporation | Muncy Columbia Financial Corporation |
| Jul 18, 2008 | Goodman State Bank | First Community Bank |
| Jul 16, 2008 | J M P Employees Federal Credit Union | Jamestown Area Community Federal Credit Union |
| Jul 15, 2008 | Dallas Western Union Employees Credit Union | Corner Stone Credit Union |
| Jul 14, 2008 | First Security Bank - Renville | First Security Bank - Sleepy Eye |
| Jul 12, 2008 | The Belvidere National Bank and Trust Company | Alpine Bank & Trust Co. |
| Jul 12, 2008 | (unnamed) | Cohutta Banking Company |
| Jul 12, 2008 | The Lancaster National Bank | Passumpsic Savings Bank |
| Jul 11, 2008 | (unnamed) | First Place Bank |
| Jul 8, 2008 | Murray County Federal Credit Union | Comtrust Federal Credit Union |
| Jul 7, 2008 | Skidmore Students Federal Credit Union | Broadview Federal Credit Union |
| Jul 4, 2008 | Spectrum Bank | Professional Business Bank |
| Jul 3, 2008 | Alician Fcu | Servco Federal Credit Union |
| Jul 3, 2008 | Holden Bankshares, Inc. | Holden Acquisition Corporation |
| Jul 1, 2008 | City of Alexandria Employees Credit Union | Commonwealth One Federal Credit Union |
| Jul 1, 2008 | MRS. Tuckers Jacksonville Federal Credit Union | Sangamo Chapter Credit Union |
| Jul 1, 2008 | Mellon Trust of New England, National Association | The Bank of New York Mellon |
| Jul 1, 2008 | Mellon Trust of New England, National Association | BNY Mellon, N.A. |
| Jul 1, 2008 | Clarion University Federal Credit Union | Pennsylvania State Employees Credit Union dba Psecu |
| Jul 1, 2008 | Putnam County Teachers Credit Union | First Coast Community Credit Union |
| Jul 1, 2008 | Missouri Family Federal Credit Union | R-G Federal Credit Union |
| Jul 1, 2008 | Cannon Financial Federal Credit Union | Financial Partners Credit Union |
| Jul 1, 2008 | 1st United Labor Federal Credit Union | Beacon Community Credit Union |
| Jul 1, 2008 | Media 1st Federal Credit Union | Call Federal Credit Union |
| Jul 1, 2008 | Key Federal Credit Union | Smart Financial Credit Union |
| Jul 1, 2008 | D O D Federal Credit Union | Southwest Michigan Federal Credit Union |
| Jul 1, 2008 | Northwest Navigation Federal Credit Union | Waterfront Federal Credit Union |
| Jul 1, 2008 | Electrical Workers 601 Credit Union | University of Illinois Community Credit Union |
| Jul 1, 2008 | Mission Arts Employees Federal Credit Union | Northwestern Energy Employees Federal Credit Union |
| Jul 1, 2008 | Mellon Securities Trust Company | The Bank of New York Mellon |
| Jul 1, 2008 | Rochester Federal Credit Union | Xceed Financial 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 |