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 30, 2008 | United Bank, National Association | The Park National Bank |
| Aug 30, 2008 | The Richland Trust Company | The Park National Bank |
| Aug 30, 2008 | EverBank Reverse Mortgage LLC | Metlife Bank, N.A. |
| Aug 30, 2008 | 1st Independence Financial Group, Inc. | Mainsource Financial Group, Inc. |
| Aug 28, 2008 | TCB Delaware, Inc. | Texas Country Bancshares, Inc. |
| Aug 23, 2008 | The Bank of Commerce, Wetumka, Oklahoma | Mabrey Bank |
| Aug 23, 2008 | Eastern Mass Employees Federal Credit Union | SJB Federal Credit Union |
| Aug 19, 2008 | Associated Press Employees Federal Credit Union | Entertainment Industries Federal Credit Union |
| Aug 19, 2008 | Grandview Delaware Financial, Inc. | Grandview Bancshares, Inc. |
| Aug 18, 2008 | Fiserv Trust Company | TD Bank USA, N.A. |
| Aug 16, 2008 | Century National Bank | The Park National Bank |
| Aug 16, 2008 | J.P. Morgan Trust Company, N.A. | JPMorgan Chase Bank, N.A. |
| Aug 16, 2008 | Iron and Glass Bancorp, Inc. | F.N.B. Corporation |
| Aug 16, 2008 | Ellis State Bank | Equity Bank |
| Aug 16, 2008 | First National Bank of Montgomery | Frandsen Bank & Trust |
| Aug 16, 2008 | El Cap Credit Union | Envista Federal Credit Union |
| Aug 16, 2008 | Second National Bank | The Park National Bank |
| Aug 16, 2008 | First State Bank Iowa | Luana Savings Bank |
| Aug 16, 2008 | Iron and Glass Bank | First National Bank of Pennsylvania |
| Aug 15, 2008 | Citrus Financial Services, Inc. | Cib Marine Bancshares, Inc. |
| Aug 15, 2008 | Citrus Bank, National Association | 1st United Bank |
| Aug 10, 2008 | First National Bank of Nassau County | CBC National Bank |
| Aug 9, 2008 | Bank of Holden | Central Bank of Warrensburg |
| Aug 9, 2008 | Holden Acquisition Corporation | Warrensburg Bancshares, Inc. |
| Aug 9, 2008 | Delaware Sterling Bank & Trust Company | PNC Bank, Delaware |
| Aug 9, 2008 | Sterling Financial Trust Company | PNC Bank, N.A. |
| Aug 9, 2008 | Golden Triangle Bancshares, Inc. | Citizens Union Bancorp of Shelbyville, Inc. |
| Aug 9, 2008 | BLC Bank N.A. | PNC Bank, N.A. |
| Aug 9, 2008 | The First State Bank | MidWestOne Bank |
| Aug 9, 2008 | Ridgedale State Bank | Highland Bank |
| Aug 9, 2008 | Citizens Bank | First Farmers Bank and Trust Company |
| Aug 9, 2008 | MidWestOne Bank | MidWestOne Bank |
| Aug 5, 2008 | Greers Ferry Lake State Bank | First Arkansas Bank and Trust |
| Aug 4, 2008 | Garden State Brith Sholom Federal Credit Union | First Harvest Federal Credit Union |
| Aug 2, 2008 | Mills County Delaware Financial Corporation | Goldthwaite Bancshares, Inc. |
| Aug 1, 2008 | Colony Bank Quitman, FSB | Colony Bank |
| Aug 1, 2008 | Provantage Funding Corporation | Wilber National Bank |
| Aug 1, 2008 | Brownsboro Delaware Holdings, Inc. | Brownsboro Bancshares, Inc. |
| Aug 1, 2008 | Transcommunity Bank, National Association | Essex Bank |
| Aug 1, 2008 | Peoples Loan Services Inc. | Peoples Bank |
| Aug 1, 2008 | K&T Financial Corporation | Eden Financial Corporation |
| Aug 1, 2008 | Traders Bankshares, Inc. | Premier Financial Bancorp, Inc. |
| Aug 1, 2008 | North Attleboro Federal Credit Union | Sharon & Crescent United Credit Union |
| Aug 1, 2008 | Colony Bank Wilcox | Colony Bank |
| Aug 1, 2008 | Metropolitan Baptist Church Federal Credit Union | Democracy Federal Credit Union |
| Aug 1, 2008 | Danville Regional Medical Federal Credit Union | Urw Community Federal Credit Union |
| Aug 1, 2008 | Colony Bank Worth | Colony Bank |
| Aug 1, 2008 | Manpoe Federal Credit Union | Nutmeg State Financial Credit Union |
| Aug 1, 2008 | Phoenix Federal Credit Union | Nutmeg State Financial Credit Union |
| Aug 1, 2008 | Colony Bank of Dodge County | Colony 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 | 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 |