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 |
|---|---|---|
| Jun 17, 2008 | First Federal Bank | Heartland Bank and Trust Company |
| Jun 14, 2008 | Northern New York Bancorp, Inc. | Watertown Savings Bank |
| Jun 14, 2008 | Green Lake State Bank | Baraboo State Bank |
| Jun 13, 2008 | SCB Financial Corporation | The Peoples Bank |
| Jun 13, 2008 | The Smith County State Bank and Trust Company | The Peoples Bank |
| Jun 11, 2008 | I B E W Local 531 Federal Credit Union | First Trust Credit Union |
| Jun 9, 2008 | First Central Union | Central Community Corporation |
| Jun 9, 2008 | FSBG, Inc. | Central Community Corporation |
| Jun 9, 2008 | The First State Bank | First State Bank Central Texas |
| Jun 7, 2008 | First Charter Bank | Fifth Third Bank, National Association |
| Jun 7, 2008 | Summit Federal Bankshares, Inc. | Investors Bancorp, Inc. |
| Jun 7, 2008 | Summit Federal Bankshares, MHC | Investors Bancorp, Inc. |
| Jun 7, 2008 | Dallas National Bank | The American National Bank of Texas |
| Jun 7, 2008 | Ibt Bancorp, Inc. | S&T Bancorp, Inc. |
| Jun 7, 2008 | First Charter Corporation | Fifth Third Financial Corporation |
| Jun 7, 2008 | Irwin Bank | S & T Bank |
| Jun 7, 2008 | First National Bank, Valparaiso | 1st Source Bank |
| Jun 7, 2008 | Summit Federal Savings Bank | Investors Bank |
| Jun 2, 2008 | Bank of Warrensburg | Buena Vista National Bank |
| Jun 2, 2008 | BW Bancshares, Inc. | Buena Vista Bancorp, Inc. |
| Jun 2, 2008 | Nestegg Federal Credit Union | Empower Federal Credit Union |
| Jun 2, 2008 | Chart Bank | The Farmers & Merchants Bank |
| Jun 1, 2008 | Walla Walla Valley Federal Credit Union | Gesa Credit Union |
| Jun 1, 2008 | MFBB Services LLC | U.S. Bank N.A. |
| Jun 1, 2008 | Oxford Bank Mortgage Services, L.L.C. | Oxford Bank |
| Jun 1, 2008 | Transcommunity Financial Corporation | Community Bankers Trust Corporation |
| Jun 1, 2008 | 1st Choice Bancorp, Inc. | Prosperity Bancshares, Inc. |
| Jun 1, 2008 | Boe Financial Services of Virginia, Inc. | Community Bankers Trust Corporation |
| Jun 1, 2008 | 1st Choice Bank | Prosperity Bank |
| Jun 1, 2008 | A.G. Edwards Trust Company FSB | Wachovia Bank, N.A. |
| Jun 1, 2008 | Shore Financial Corporation | Xenith Bankshares, Inc. |
| Jun 1, 2008 | California Preferred Credit Union | Redwood Credit Union |
| Jun 1, 2008 | TMC Employees Credit Union | Member One Federal Credit Union |
| Jun 1, 2008 | Kalamazoo Gazette Employees Credit Union | Kalsee Credit Union |
| Jun 1, 2008 | Yac Federal Credit Union | York Educational Federal Credit Union |
| Jun 1, 2008 | Commerce Bank/North | TD Bank, N.A. |
| Jun 1, 2008 | Kentucky Conference Credit Union, Inc. | Members Heritage Credit Union Inc |
| Jun 1, 2008 | Yavapai Federal Credit Union | Credit Union West |
| Jun 1, 2008 | Permian Basin Credit Union | MY Community Credit Union |
| Jun 1, 2008 | Mellon 1st Business Bank, National Association | U.S. Bank N.A. |
| Jun 1, 2008 | Electric City Federal Credit Union | 1st Liberty Federal Credit Union |
| Jun 1, 2008 | Commerce Bank, National Association | TD Bank, N.A. |
| Jun 1, 2008 | Monterey Columbian Federal Credit Union | Allus Credit Union |
| Jun 1, 2008 | US Alliance Credit Union | Wings Credit Union |
| Jun 1, 2008 | S. H. H. S. Federal Credit Union | Usx Federal Credit Union |
| Jun 1, 2008 | I H B Riverdale Credit Union | A C M E Continental Credit Union |
| Jun 1, 2008 | Universal Service Credit Union | Jetstream Federal Credit Union |
| Jun 1, 2008 | Danville Postal Credit Union | Blue Eagle Credit Union |
| Jun 1, 2008 | Ukrainian Washington Federal Credit Union | Self Reliance Baltimore Federal Credit Union |
| May 31, 2008 | Raleigh Post Office Employees Credit Union | U S Postal Service Federal Credit Union |
The list holds 500 of the 804 mergers recorded for 2008.
Enforcement Actions in 2008
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Jul 9, 2008 | OCC | The Granville National Bank | Civil Money Penalty (CMP): Holly, David C. |
| Jul 9, 2008 | OCC | The Granville National Bank | Civil Money Penalty (CMP): Helmig, Charles W. |
| Jul 9, 2008 | OCC | The Granville National Bank | Civil Money Penalty (CMP): Helmig, Carolyn M. |
| Jul 9, 2008 | OCC | First National Bank of Muhlenberg County, Kentucky | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Ray, Jeffrey S. |
| Jul 9, 2008 | OCC | The Granville National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Helmig, Charles W. |
| Jul 9, 2008 | OCC | T Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): T Bank, National Association |
| Jul 7, 2008 | OCC | The First National Bank | Civil Money Penalty (CMP): Smith, Preston G. |
| Jul 7, 2008 | FRB | (individual) | Section 19 Letters: Kelly J. Lauri |
| Jul 2, 2008 | OCC | Northern Trust, National Association | Civil Money Penalty (CMP): Northern Trust, National Association |
| Jul 2, 2008 | FRB | (individual) | Section 19 Letters: Peter J. Edmonds |
| Jul 2, 2008 Released Jul 14, 2008 | FRB | KCB Bank | Written Agreement: KCB Bank, Kearney, Missouri |
| Jul 2, 2008 | OCC | The First National Bank of Logan | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Logan |
| Jul 1, 2008 | OCC | Cornerbank, National Association | Formal Agreement: Cornerbank, National Association |
| Jun 30, 2008 | OCC_OTS | Domestic Credit Corp | Cease and Desist: Domestic Bank |
| Jun 30, 2008 | OCC_OTS | Dwelling House Savings and Loan Association | Termination of Cease and Desist: Dwelling House Savings And Loan Association |
| Jun 30, 2008 | OCC_OTS | Domestic Credit Corp | Civil Money Penalty: Domestic Bank |
| Jun 30, 2008 | OCC_OTS | Dwelling House Savings and Loan Association | Cease and Desist: Dwelling House Savings And Loan Association |
| Jun 27, 2008 | OCC_OTS | Colorado Federal Savings Bank | Prompt Corrective Action: Colorado FSB |
| Jun 26, 2008 | OCC | Border Capital Group, Inc. | Formal Agreement: Border Capital Bank, National Association |
| Jun 26, 2008 | OCC | Landmark Community Bank, National Association | Formal Agreement: Landmark Community Bank, National Association |
| Jun 24, 2008 | FRB | Regions Bank | Section 19 Letters: James K. Real |
| Jun 24, 2008 | OCC | The Upstate National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Upstate National Bank |
| Jun 24, 2008 | OCC | Republic Federal Bank, N.A. | Formal Agreement: Republic Federal Bank National Association |
| Jun 20, 2008 | OCC_OTS | Guaranty Bank | Orders of Removal/Prohibition: Hector Perez |
| Jun 20, 2008 | OCC_OTS | Home Federal Savings Bank | Cease and Desist: Robert L. Dickey |
| Jun 19, 2008 Released Jun 23, 2008 | FRB | Compass Bank | Civil Money Penalty $15,000: Susan M. West |
| Jun 19, 2008 | OCC | Community National Bank | Prompt Corrective Action (PCA) Directive: Community National Bank |
| Jun 19, 2008 Released Jun 23, 2008 | FRB | Compass Bank | Prohibition from Banking: Susan M. West |
| Jun 19, 2008 Released Jun 26, 2008 | FRB | Heritage Commerce Corp | Civil Money Penalty $6,840: Heritage Bank of Commerce, San Jose, CA |
| Jun 18, 2008 | FRB | Compass Bank | Section 19 Letters: Mayra Rivera |
| Jun 18, 2008 | OCC | PiBank, N.A. | Civil Money Penalty (CMP): Intercredit Bank, National Association |
| Jun 18, 2008 | OCC | Home National Bank | Formal Agreement: Home National Bank |
| Jun 16, 2008 Released Jul 25, 2008 | FRB | First National Bank Holding Company | Cease and Desist Order: First National Bank Holding Company, Scottsdale, Arizona |
| Jun 12, 2008 | OCC | The American National Bank of Beaver Dam | Formal Agreement: The American National Bank of Beaver Dam |
| Jun 11, 2008 | OCC_OTS | Imperial Savings and Loan Association | Prompt Corrective Action: Imperial Savings and Loan Association |
| Jun 11, 2008 | OCC | The Lincoln National Bank of Hodgenville | Prohibition/Removal Orders: Brackett, Dara B. |
| Jun 10, 2008 | OCC | The Fulton County National Bank and Trust Company | Civil Money Penalty (CMP): Bookheimer, Clyde H. |
| Jun 10, 2008 | FRB | Suntrust Bank | Section 19 Letters: Jennifer Duncan |
| Jun 10, 2008 | OCC | Standing Stone National Bank | Formal Agreement: Standing Stone National Bank |
| Jun 10, 2008 | OCC | The Fulton County National Bank and Trust Company | Prohibition/Removal Orders: Bookheimer, Clyde H. |
| Jun 6, 2008 | OCC | Bank of America, N.A. | Prohibition/Removal Orders: Jones, Walter |
| Jun 6, 2008 | OCC | Northland National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Northland National Bank |
| Jun 4, 2008 | OCC | Eastern National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Eastern National Bank |
| Jun 4, 2008 | OCC | First Heritage Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Heritage Bank, National Association |
| Jun 4, 2008 | OCC | First National Bank of Nevada | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank of Nevada |
| Jun 4, 2008 | OCC | First Bank of Arizona, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank of Arizona |
| May 29, 2008 | OCC | The Lemont National Bank | Prohibition/Removal Orders: Culbertson, Elizabeth M. |
| May 29, 2008 Released Jun 3, 2008 | FRB | Millennium Bankshares Corporation | Written Agreement: Millennium Bankshares Corporation, Reston, Virginia |
| May 28, 2008 | OCC | The First National Bank of Manchester | Formal Agreement: The First National Bank of Manchester |
| May 27, 2008 | OCC_OTS | Newton County Loan & Savings, FSB | Supervisory Agreement: Newton County Loan & Savings, FSB |
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 |