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 |
|---|---|---|---|
| Mar 17, 2008 | OCC | The First National Bank of Berlin | Formal Agreement: The First National Bank of Berlin |
| Mar 17, 2008 | OCC | Community National Bank of Sarasota County | Formal Agreement: Community National Bank of Sarasota County |
| Mar 14, 2008 | OCC | LaSalle Bank Midwest National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Edwards, Keith |
| Mar 14, 2008 | OCC_OTS | Colorado Federal Savings Bank | Cease and Desist: Colorado FSB |
| Mar 14, 2008 | OCC | LaSalle Bank Midwest National Association | Civil Money Penalty (CMP): Edwards, Keith |
| Mar 11, 2008 | OCC | (individual) | Formal Agreement: Community National Bank |
| Mar 10, 2008 | FRB | Arvest Bank | Section 19 Letters: Lafonda R. Ashley |
| Mar 7, 2008 | OCC | National City Corporation | Prohibition/Removal Orders: Vazquez, Norma |
| Mar 7, 2008 | OCC | Wells Fargo Bank, N.A. | Prohibition/Removal Orders: Vazquez, Norma |
| Mar 7, 2008 | OCC | United Bank | Formal Agreement: United Banks, National Association |
| Mar 6, 2008 | OCC | First State Bancorp of the Rockies | Formal Agreement: First National Bank of The Rockies |
| Feb 29, 2008 | OCC | United Bank for Africa PLC | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): United Bank For Africa PLC |
| Feb 28, 2008 | FRB | Bank of Eufaula | Section 19 Letters: Glenda Darlene Johnson |
| Feb 28, 2008 Released Mar 5, 2008 | FRB | FNB Southeast | Prohibition from Banking: Russell K. Henry |
| Feb 28, 2008 Released Mar 5, 2008 | FRB | Tradition Bank | Civil Money Penalty $4,000: Tradition Bank, Bellaire, TX |
| Feb 22, 2008 | OCC_OTS | Jarrettsville Federal Savings and Loan Association | Termination of Cease and Desist: Jarrettsville Federal Savings and Loan Association |
| Feb 21, 2008 | OCC | American National Bank | Civil Money Penalty (CMP): Marvin, Kevin |
| Feb 21, 2008 | OCC | American National Bank | Civil Money Penalty (CMP): Stevenson, Robert |
| Feb 19, 2008 | OCC | Crown Bank | Civil Money Penalty (CMP): Crown Bank, National Association |
| Feb 14, 2008 | OCC | Ocala National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Ocala National Bank |
| Feb 11, 2008 | OCC | The First National Bank of Fremont | Prohibition/Removal Orders: Schimmele, David |
| Feb 7, 2008 | FRB | Orrstown Bank | Section 19 Letters: Peggy A. Gilson |
| Feb 6, 2008 | FRB | Patriot Bank | Section 19 Letters: Mary A. Hoey |
| Feb 5, 2008 | OCC | Commerce Bank/Harrisburg National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Commerce Bank/Harrisburg National Association |
| Feb 4, 2008 | OCC_OTS | The Clifton Heights Savings & Loan Company | Termination of Cease and Desist: The Clifton Heights Savings and Loan Company |
| Feb 4, 2008 | OCC_OTS | High Country Bank | Orders of Removal/Prohibition: Marilea J. Rans |
| Jan 31, 2008 | OCC | First Integrity Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Integrity Bank, National Association |
| Jan 29, 2008 Released Feb 19, 2008 | FRB | (individual) | Written Agreement: ANB Bancshares, Inc., Rogers, Arkansas |
| Jan 24, 2008 | OCC | Millennium Bank, N.A. | Formal Agreement: Millennium Bank, National Association |
| Jan 23, 2008 | OCC_OTS | American Savings Bank, N.A. | Civil Money Penalty: American Savings Bank, F.S.B., |
| Jan 23, 2008 Released Feb 1, 2008 | FRB | Salin Bank and Trust Company | Written Agreement: Salin Bank and Trust Company, Indianapolis, Indiana |
| Jan 23, 2008 | OCC_OTS | American Savings Bank, N.A. | Cease and Desist: American Savings Bank, F.S.B. |
| Jan 23, 2008 | OCC | Rabobank, N.A. | Formal Agreement: Rabobank, National Association |
| Jan 23, 2008 Released Jan 24, 2008 | FRB | Coconut Grove Bank | Prohibition from Banking: Aldo N. Morales |
| Jan 23, 2008 Released Jan 24, 2008 | FRB | (individual) | Civil Money Penalty $4,200: Traders Bank, Spencer, WV |
| Jan 14, 2008 | OCC_OTS | United Bank | Orders of Removal/Prohibition: David M. Oberle |
| Jan 8, 2008 | OCC | Surety Capital Corporation | Civil Money Penalty (CMP): Barclay, James Blair |
| Jan 8, 2008 | OCC | Texas National Bank | Formal Agreement: Texas National Bank |
| Jan 8, 2008 | OCC | Surety Capital Corporation | Prohibition/Removal Orders: Barclay, James Blair |
| Jan 8, 2008 | OCC_OTS | Home Building and Loan Company | Termination of Cease and Desist: The Home Building and Loan Company |
| Jan 7, 2008 | OCC_OTS | Universal Bank | Cease and Desist: Universal Bank |
| Jan 7, 2008 | OCC | West Texas National Bank | Civil Money Penalty (CMP): West Texas National Bank |
| Jan 7, 2008 | OCC | Armed Forces Bank, N.A. | Prohibition/Removal Orders: Lichosik, Carrie A. |
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 |