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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 HQ Assets Acquirer or resolution
Dec 12, 2008 Haven Trust Bank Duluth, GA $559.6M Branch Banking and Trust Company
Dec 12, 2008 Sanderson State Bank Sanderson, TX $38.2M The Pecos County Bank
Dec 5, 2008 First Georgia Community Bank Jackson, GA $256.4M United Bank
Nov 21, 2008 Downey Savings and Loan Association, F.A. Newport Beach, CA $12.78B U.S. Bank, N.A.
Nov 21, 2008 PFF Bank & Trust Pomona, CA $3.72B U.S. Bank, N.A.
Nov 21, 2008 The Community Bank Loganville, GA $634.9M Bank of Essex
Nov 7, 2008 Franklin Bank, SSB Houston, TX $5.09B Prosperity Bank
Nov 7, 2008 Security Pacific Bank San Diego, CA $528.0M Pacific Western Bank
Oct 31, 2008 Freedom Bank Bradenton, FL $270.8M Fifth Third Bank
Oct 24, 2008 Alpha Bank & Trust Alpharetta, GA $354.1M Stearns Bank, N.A.
Oct 10, 2008 Main Street Bank Northville, MI $112.4M Monroe Bank & Trust
Oct 10, 2008 Meridian Bank Eldred, IL $38.2M National Bank
Sep 25, 2008 Washington Mutual Bank Henderson, NV $307.02B JPMorgan Chase Bank, N.A.
Sep 19, 2008 Ameribank, Inc. Northfork, WV $104.0M The Citizens Savings Bank
Sep 5, 2008 Silver State Bank Henderson, NV $1.96B Nevada State Bank
Aug 29, 2008 Integrity Bank Alpharetta, GA $1.11B Regions Bank
Aug 22, 2008 The Columbian Bank and Trust Company Topeka, KS $735.1M Citizens Bank and Trust Company
Aug 1, 2008 First Priority Bank Bradenton, FL $258.6M Suntrust Bank
Jul 25, 2008 First National Bank of Nevada Reno, NV $3.41B Mutual of Omaha Bank
Jul 25, 2008 First Heritage Bank N.A. Newport Beach, CA $255.4M Mutual of Omaha Bank
Jul 11, 2008 Indymac Bank F.S.B Pasadena, CA $30.70B Onewest Bank, FSB
May 30, 2008 First Integrity Bank, N.A. Staples, MN $52.9M First International Bank and Trust
May 9, 2008 ANB Financial N.A. Bentonville, AR $1.90B Pulaski Bank and Trust Co
Mar 7, 2008 Hume Bank Hume, MO $18.7M Security Bank
Jan 25, 2008 Douglass National Bank Kansas City, MO $52.8M Liberty Bank and Trust Company

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 St Acquirer
Dec 1, 2008 The Bank of Bradford TN Carroll Bank and Trust
Dec 1, 2008 Haverhill Municipal Employees Credit Union MA HTM Credit Union
Dec 1, 2008 National Bank of Montpelier OH The State Bank and Trust Company
Dec 1, 2008 Sheffer Collet/Itw Employees Federal Credit Union MI 4FRONT Credit Union
Dec 1, 2008 Texas Transportation Federal Credit Union TX Greater Texas Federal Credit Union
Dec 1, 2008 Yard Wide Federal Credit Union GA Ithink Financial Credit Union
Dec 1, 2008 M A T C Credit Union WI University of Wisconsin Credit Union
Dec 1, 2008 Southeast Nebraska Federal Credit Union NE Membersown Credit Union
Dec 1, 2008 BTW Federal Credit Union AL Avadian Credit Union
Dec 1, 2008 Douglas Credit Union IL Credit Union 1
Nov 30, 2008 Capital Trust Federal Credit Union MN Saint Paul Federal Credit Union
Nov 30, 2008 American State Financial Corporation of Delaware NM American State Financial Corporation
Nov 30, 2008 Arkansas Bankers' Bancorporation, Inc. AR First National Bankers Bankshares, Inc.
Nov 30, 2008 Victory Federal Credit Union PA Northwood Federal Credit Union
Nov 30, 2008 Lawrence Firefighters Federal Credit Union MA Nesc Federal Credit Union
Nov 29, 2008 First Independent Bank of Wood Lake MN First Independent Bank
Nov 29, 2008 (unnamed) — Farmers and Merchants Trust Company of Chambersburg
Nov 29, 2008 (unnamed) — Pacific Community Credit Union
Nov 28, 2008 Goldman Sachs Bank USA UT Goldman Sachs Bank USA
Nov 28, 2008 (unnamed) — Goldman Sachs Bank USA
Nov 22, 2008 Chambers Bank of North Arkansas AR Chambers Bank
Nov 22, 2008 Community Investment, Inc. AR Chambers Bancshares, Inc.
Nov 21, 2008 Delaware International Bancshares, Inc. DE First International Bancshares, Inc.
Nov 20, 2008 Lockhart Bankshares - Delaware, Inc. DE Lockhart Bankshares, Inc.
Nov 20, 2008 First Charter Leasing & Investing, Inc. NC Fifth Third Bank, National Association
Nov 19, 2008 Sikeston Community Credit Union MO West Community Credit Union
Nov 18, 2008 Snook Bancshares, Inc. TX Spirit of Texas Bancshares, Inc.
Nov 17, 2008 Windham County Vea Credit Union VT River Valley Credit Union
Nov 16, 2008 Church Street Management Corporation NC RBC Bank (USA)
Nov 16, 2008 Church Street Management, Inc. NC RBC Bank (USA)
Nov 15, 2008 Community Bank WI National Bank of Commerce
Nov 15, 2008 Coddle Creek Financial Corp. NC First Community Bankshares, Inc.
Nov 15, 2008 First State Bancorp, Inc. DE Red River Bancorp, Inc.
Nov 15, 2008 The First State Company TX Red River Bancorp, Inc.
Nov 15, 2008 Mooresville Savings Bank, SSB NC First Community Bank
Nov 15, 2008 Anchor Bank Farmington, N.A. MN Anchor Bank, National Association
Nov 15, 2008 1st Independence Bank KY MainSource Bank
Nov 14, 2008 Century Delaware Financial Corporation DE Century Bancshares, Inc.
Nov 14, 2008 Medina Financial, Inc. NV Medina Bankshares, Inc.
Nov 13, 2008 Service 1st Bank CA Community West Bank
Nov 13, 2008 Service 1st Bancorp CA Community West Bancshares
Nov 10, 2008 Marlborough Co-operative Bank MA Butler Bank, a Co-Operative Bank
Nov 8, 2008 Farley State Bank MO BankLiberty
Nov 8, 2008 Parish National Corporation LA Whitney Holding Corporation
Nov 8, 2008 The Scottish Bank, National Association NC South State Bank
Nov 8, 2008 Hamlin Financial Corporation of Delaware DE The Hamlin Financial Corporation
Nov 7, 2008 Van Alstyne Nevada Financial Corporation NV Van Alstyne Financial Corporation
Nov 6, 2008 Unicredit Banca Di Roma S.P.A. — Unicredit S.P.A.
Nov 6, 2008 Security Federal Bancorp, Inc. AL Capstone Bancshares, Inc.
Nov 6, 2008 Security Bank AL Capstone Bank

The list holds 500 of the 804 mergers recorded for 2008.

Enforcement Actions in 2008

Action date Agency Institution Action
Aug 29, 2008
Released Sep 4, 2008		 FRB Suntrust Bank Prohibition from Banking: Roslyn Y. Terry
Aug 28, 2008 FRB M&T Bank Corporation Section 19 Letters: Eileen Francis
Aug 26, 2008 OCC_OTS American Sterling Corporation Cease and Desist: American Sterling Corporation
Aug 25, 2008 OCC_OTS USAA Federal Savings Bank Orders of Removal/Prohibition: Laura E. Robledo
Aug 25, 2008 OCC_OTS Ameribank Prompt Corrective Action: AmeriBank North
Aug 25, 2008
Released Aug 29, 2008		 FRB (individual) Written Agreement: Orion Bancorp, Inc., Naples, Florida, Orion Bank, Naples, Florida
Aug 25, 2008 OCC The First National Bank of Buffalo Formal Agreement: The First National Bank of Buffalo
Aug 22, 2008 OCC_OTS Ideal Federal Savings Bank Cease and Desist: Ideal Federal Savings Bank
Aug 20, 2008 OCC KeyBank N.A. Prohibition/Removal Orders: Smith, Seyria T.
Aug 20, 2008 OCC KeyBank N.A. C&D or PC&D Requiring Restitution: Smith, Seyria T.
Aug 20, 2008 OCC_OTS American Sterling Bank Cease and Desist: American Sterling Bank
Aug 20, 2008 OCC_OTS Horizon Bank Termination of Prompt Corrective Action: Horizon Bank
Aug 20, 2008 OCC_OTS Horizon Bank Termination of Cease and Desist: Horizon Bank
Aug 19, 2008 OCC_OTS Kentucky Federal Savings and Loan Association Supervisory Agreement: Kentucky Federal Savings and Loan Association
Aug 18, 2008 OCC Native American Bank, N.A. Formal Agreement: Native American Bank, National Association
Aug 14, 2008 OCC Douglass National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Johnson, Lester
Aug 14, 2008
Released Aug 28, 2008		 FRB Security Pacific Bancorp Written Agreement: Security Pacific Bancorp, Los Angeles, California
Aug 14, 2008 OCC Texas Republic Bank, N.A. Formal Agreement: Texas Republic Bank, National Association
Aug 14, 2008 OCC Union Bank of Arizona, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Union Bank, National Association
Aug 13, 2008 OCC The First National Bank of Layton Formal Agreement: The First National Bank of Layton
Aug 13, 2008 OCC Wells Fargo Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Novak, Erin L.
Aug 12, 2008 OCC_OTS United Community Financial Corporation Cease and Desist: United Community Financial Corp
Aug 8, 2008 OCC First National Bank of Kansas Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank of Kansas
Aug 7, 2008
Released Aug 25, 2008		 FRB Columbian Financial Corporation Written Agreement: Columbian Financial Corporation, Overland Park, Kansas
Aug 7, 2008 FRB (individual) Section 19 Letters: Cassandra Solberg
Aug 6, 2008 OCC_OTS USAA Federal Savings Bank Orders of Removal/Prohibition: Kathy Villarreal
Aug 5, 2008 OCC_OTS Family Federal Savings of Illinois Supervisory Agreement: Family Federal Savings of Illinois
Aug 4, 2008 OCC First National Bank PLC Formal Agreement: First National Bank and Trust
Jul 31, 2008 OCC_OTS Massena Savings and Loan Cease and Desist: Massena Savings and Loan
Jul 30, 2008 OCC Community State Bank, National Association Formal Agreement: Community State Bank, National Association
Jul 29, 2008 OCC Grundy National Bank Prohibition/Removal Orders: Lester, Jeffery
Jul 29, 2008 OCC First Tennessee Bank, National Association Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Buendia, Nichole K.
Jul 28, 2008 OCC First National Bank Midwest Formal Agreement: First National Bank MidWest
Jul 25, 2008 OCC The First National Bank of Farragut Formal Agreement: The First National Bank of Farragut
Jul 23, 2008 OCC_OTS Colorado Federal Savings Bank Termination of Cease and Desist: Colorado FSB
Jul 23, 2008 OCC_OTS Indian Village Bancorp, Inc Supervisory Agreement: Indian Village Bancorp, Inc
Jul 23, 2008 OCC_OTS Colorado Federal Savings Bank Termination of Prompt Corrective Action: Colorado FSB
Jul 22, 2008 OCC Vineyard Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Vineyard Bank, National Association
Jul 22, 2008 OCC_OTS Liberty Savings Bank, Federal Savings Bank Civil Money Penalty: Liberty Savings Bank, FSB
Jul 21, 2008 OCC Granite Community Bank, N.A. Formal Agreement: Granite Community Bank, National Association
Jul 21, 2008
Released Aug 21, 2008		 FRB Bonifay Holding Company, Inc. Written Agreement: Bonifay Holding Company, Inc., Bonifay, Florida
Jul 17, 2008
Released Jul 25, 2008		 FRB Capital Corp of the West Written Agreement: Capital Corp of the West, Merced, California, County Bank, Merced, California
Jul 16, 2008 OCC Bank of America, N.A. Prohibition/Removal Orders: Saephan, Liu H.
Jul 14, 2008 OCC Seaway National Bank of Chicago Civil Money Penalty (CMP): Abrams, Richard
Jul 10, 2008 OCC The First National Bank of Trenton Formal Agreement: The First National Bank of Trenton
Jul 9, 2008 OCC The Granville National Bank Civil Money Penalty (CMP): Carlson, Phillip C.
Jul 9, 2008 OCC First National Bank Formal Agreement: First National Bank
Jul 9, 2008 OCC The Granville National Bank Civil Money Penalty (CMP): Wujek, Daniel J.
Jul 9, 2008 OCC First National Bank of Muhlenberg County, Kentucky Civil Money Penalty (CMP): Ray, Jeffrey S.
Jul 9, 2008 OCC The Granville National Bank Civil Money Penalty (CMP): Mennie, Hubert J.

FDIC Open-Bank Assistance in 2008

Date Institution HQ Assets
Nov 23, 2008 Citibank, N.A. Las Vegas, NV $1.21T
Nov 23, 2008 Citibank (South Dakota), N.A. Sioux Falls, SD $77.74B
Nov 23, 2008 Citicorp Trust Bank, FSB Wilmington, DE $19.60B
Nov 23, 2008 Citibank (Banamex USA) Century City, CA $1.32B
Nov 23, 2008 Department Stores National Bank Sioux Falls, SD $374.9M

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