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 |
|---|---|---|
| Nov 3, 2008 | Forsyth County Employees Credit Union | Summit Credit Union |
| Nov 1, 2008 | McCamey Financial Delaware Corporation | Security Star Bancshares, Inc. |
| Nov 1, 2008 | Tahoka First Financial, Inc. | Tahoka First Bancorp, Inc. |
| Nov 1, 2008 | Bay Community Bank | Atlantic Union Bank |
| Nov 1, 2008 | State of Franklin Bancshares, Inc. | Jefferson Bancshares, Inc. |
| Nov 1, 2008 | Comerica West Incorporated | Comerica Bank |
| Nov 1, 2008 | Esbt, Inc. | Ennis Bancshares, Inc. |
| Nov 1, 2008 | CNB, Inc. | Centrabanc Corporation |
| Nov 1, 2008 | Citizens Bank of Jessamine County | United Bank & Trust Company |
| Nov 1, 2008 | Monahans Delaware Financial Corporation | Security Star Bancshares, Inc. |
| Nov 1, 2008 | First National Monahans Bancshares, Inc. | Security Star Bancshares, Inc. |
| Nov 1, 2008 | (unnamed) | Jefferson Federal Bank |
| Nov 1, 2008 | Community Bankshares, Inc. | First Citizens Bank and Trust Company, Inc. |
| Nov 1, 2008 | Community Resource Bank, National Association | First Citizens Bank and Trust Company, Inc. |
| Nov 1, 2008 | First National Bancshares of Nelsonville, Inc. | FNB Shares, Inc. |
| Nov 1, 2008 | Grimes Credit Union, Inc. | Wright-Patt Credit Union, Inc. |
| Nov 1, 2008 | Summit Credit Union | Summit Credit Union |
| Nov 1, 2008 | Janesville Municipal Employees Credit Union | First Community Credit Union of Beloit |
| Nov 1, 2008 | The Citadel Bank | UMB Bank Colorado, National Association |
| Nov 1, 2008 | North Star Federal Credit Union | Superior Credit Union Inc |
| Nov 1, 2008 | T and C Federal Credit Union | Genisys Credit Union dba Genisys Investment Services |
| Nov 1, 2008 | Dresser Bradford Fcu | Mountain Laurel Federal Credit Union |
| Nov 1, 2008 | Progressive Teachers Federal Credit Union | Chattanooga Area School Federal Credit Union |
| Nov 1, 2008 | Fort Defiance Community Federal Credit Union | Midwest Community Federal Credit Union |
| Nov 1, 2008 | Central Florida Heathcare Federal Credit Union | McCoy Federal Credit Union |
| Nov 1, 2008 | The Farmers Bank and Trust Company of Georgetown, Kentucky | United Bank & Trust Company |
| Nov 1, 2008 | Wilmington Trust of Pennsylvania | Wilmington Trust, National Association |
| Nov 1, 2008 | Clara Barton Federal Credit Union | Pentagon Federal Credit Union |
| Nov 1, 2008 | College Station Community Federal Credit Union | Hope Federal Credit Union |
| Nov 1, 2008 | Morton Savings Bank | Sharon Bank |
| Nov 1, 2008 | Indian Village Community Bank | The Commercial and Savings Bank of Millersburg, Ohio |
| Nov 1, 2008 | Intermountain Credit Union | America First Federal Credit Union |
| Nov 1, 2008 | Great American Community Credit Union | Bellco Credit Union |
| Nov 1, 2008 | The First National Bank of Nelsonville | The First National Bank of McConnelsville |
| Nov 1, 2008 | Auto Body Workers of Ionia Credit Union | Astera Credit Union dba Astera Investment Services |
| Nov 1, 2008 | Shawano Paper Mills Employees Credit Union | Covantage Credit Union |
| Nov 1, 2008 | Massac County Credit Union | Siu Credit Union |
| Oct 28, 2008 | FBT, Inc. | Fidelity Bancshares, Inc. |
| Oct 26, 2008 | Anchor Federal Credit Union | Wave Federal Credit Union |
| Oct 25, 2008 | Citizens & Merchants State Bank | Bank of North Georgia |
| Oct 25, 2008 | Citizens First Bank, Inc. | Traders Bank |
| Oct 25, 2008 | Citizens Bank and Trust of West Georgia | Bank of North Georgia |
| Oct 25, 2008 | Spalding City Bank | Citizens State Bank |
| Oct 25, 2008 | Valley Bank (National Association) | Liberty National Bank |
| Oct 20, 2008 | Benton Banking Company | Builtwell Bank |
| Oct 18, 2008 | Citizens Delaware Corporation | Lubco Bancshares, Inc. |
| Oct 18, 2008 | The Jackson State Bank | Wells Fargo Bank, N.A. |
| Oct 18, 2008 | Shoshone First Bank | Wells Fargo Bank, N.A. |
| Oct 18, 2008 | Sheridan State Bank | Wells Fargo Bank, N.A. |
| Oct 18, 2008 | First State Bank of Pinedale | Wells Fargo Bank, N.A. |
The list holds 500 of the 804 mergers recorded for 2008.
Enforcement Actions in 2008
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Dec 19, 2008 Released Dec 23, 2008 | FRB | Ocean Bankshares, Inc. | Written Agreement: Ocean Bankshares, Inc., Miami, Florida |
| Dec 19, 2008 | OCC | First National Bank of Crestview | Formal Agreement: First National Bank of Crestview |
| Dec 18, 2008 | FRB | Tower Trust Company | Section 19 Letters: Judy S. Quackenbush |
| Dec 18, 2008 | FRB | (individual) | Section 19 Letters: Shane A. Habben |
| Dec 18, 2008 | FRB | Premium Bank | Section 19 Letters: Kimberly A. Mavis |
| Dec 18, 2008 | OCC | Hometown Bancshares, Inc. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Hometown Bank, National Association |
| Dec 18, 2008 | OCC | Union Planters Corporation | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Thornhill, Cheryl |
| Dec 18, 2008 | OCC | Mission Oaks Bancorp | Formal Agreement: Mission Oaks National Bank |
| Dec 18, 2008 | OCC | First Liberty Bank | Prohibition/Removal Orders: Burleson, Melani |
| Dec 17, 2008 Released Dec 22, 2008 | FRB | Cherokee Bancshares, Inc. | Written Agreement: Cherokee Bancshares, Inc., Saint Paul, Minnesota |
| Dec 16, 2008 | OCC | The First National Bank in Tremont | Formal Agreement: The First National Bank in Tremont |
| Dec 16, 2008 Released Dec 22, 2008 | FRB | Michigan Heritage Bank | Written Agreement: Michigan Heritage Bank, Farmington Hills, Michigan |
| Dec 16, 2008 | OCC | Seacoast National Bank | Formal Agreement: Seacoast National Bank |
| Dec 15, 2008 Released Dec 22, 2008 | FRB | Birthright, Incorporated | Written Agreement: Birthright Incorporated, Montgomery, Alabama |
| Dec 15, 2008 | FRB | (individual) | Prohibition from Banking: Kelly M. Dulaney |
| Dec 15, 2008 | FRB | (individual) | Cease and Desist Order: Kelly M. Dulaney |
| Dec 11, 2008 | OCC_OTS | American Savings Bank, N.A. | Termination of Cease and Desist: American Savings Bank, F.S.B. |
| Dec 10, 2008 Released Dec 17, 2008 | FRB | The Templar Fund, Inc. | Written Agreement: The Templar Fund, Inc., St. Louis, Missouri; Truman Bancorp, Inc., St. Louis, … |
| Dec 9, 2008 Released Dec 11, 2008 | FRB | Community Investment Services, Inc. | Written Agreement: Community Investment Services, Inc., North Branch, Minnesota |
| Dec 8, 2008 | OCC | Wells Fargo Bank, N.A. | Formal Agreement: Wachovia Bank, National Association |
| Dec 4, 2008 | FRB | (individual) | Section 19 Letters: Benjamin Wainwright, Jr. |
| Dec 4, 2008 | OCC_OTS | Inter Savings Bank, Federal Savings Bank | Termination of Cease and Desist: Inter Savings Bank, FSB |
| Dec 3, 2008 | OCC_OTS | Home Federal Savings Bank | Civil Money Penalty: Bettye Arrington, Ph.D. |
| Dec 3, 2008 Released Dec 4, 2008 | FRB | Suntrust Bank | Prohibition from Banking: Julianne, L. Gingrich |
| Dec 2, 2008 | FRB | (individual) | Section 19 Letters: Sonya, E. Bradley |
| Dec 1, 2008 | OCC | The First National Bank of Valentine | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Valentine |
| Dec 1, 2008 | OCC_OTS | Guaranty Bank | Orders of Removal/Prohibition: Cheryl J. Carlini |
| Nov 25, 2008 | OCC | The First National Bank of Platteville | Formal Agreement: First National Bank of Platteville |
| Nov 21, 2008 | OCC_OTS | Franklin Bank Corp. | Termination of Cease and Desist: Franklin Bank Corp. |
| Nov 21, 2008 Released Nov 25, 2008 | FRB | Team Financial Acquisition Subsidiary, Inc. | Written Agreement: Team Financial, Inc., Paola, Kansas, Post Bancorp, Inc., Colorado Springs, Colorado, Team … |
| Nov 20, 2008 | OCC | Flagship National Bank | Formal Agreement: Flagship National Bank |
| Nov 20, 2008 | OCC | First National Bank of Anthony | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Anthony |
| Nov 19, 2008 | OCC_OTS | PFF Bancorp, Inc. | Cease and Desist: PFF Bancorp, Inc. |
| Nov 19, 2008 | OCC_OTS | Amtrust Financial Corporation | Cease and Desist: Amtrust Financial Corporation |
| Nov 19, 2008 | OCC_OTS | Amtrust Bank | Cease and Desist: Amtrust Bank |
| Nov 19, 2008 | OCC | TomatoBank, National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Tomatobank, National Association |
| Nov 19, 2008 | OCC_OTS | PFF Bank & Trust | Cease and Desist: PFF Bank and Trust |
| Nov 19, 2008 | OCC_OTS | Home Federal Savings Bank | Civil Money Penalty: Helen Coleman |
| Nov 19, 2008 | OCC_OTS | (individual) | Civil Money Penalty: Emeral A. Crosby |
| Nov 18, 2008 | OCC | First Security National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Security National Bank |
| Nov 17, 2008 Released Nov 18, 2008 | FRB | Bank of Montreal | Prohibition from Banking: David Lee |
| Nov 17, 2008 | OCC | Commerce Bank, National Association | C&D or PC&D Requiring Restitution: Hill, Vernon W. |
| Nov 17, 2008 | OCC | Commerce Bank, National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Hill, Vernon W. |
| Nov 14, 2008 | OCC | Cumberland Valley National Bank & Trust Company | Formal Agreement: Cumberland Valley National Bank & Trust Company |
| Nov 14, 2008 | OCC_OTS | Home Federal Savings Bank | Civil Money Penalty: Amyre Makupson |
| Nov 12, 2008 | OCC_OTS | Home Federal Savings Bank | Civil Money Penalty: William Walsh |
| Nov 12, 2008 | OCC | First National Bank of Georgia | Formal Agreement: First National Bank of Georgia |
| Nov 12, 2008 Released Nov 19, 2008 | FRB | FirstBank Financial Services, Inc. | Written Agreement: FirstBank Financial Services, Inc., McDonough, Georgia |
| Nov 12, 2008 Released Nov 19, 2008 | FRB | (individual) | Written Agreement: Southern Community Bancshares, Inc., Fayetteville, Georgia |
| Nov 7, 2008 | OCC_OTS | Franklin Bank Corp. | Cease and Desist: Franklin Bank Corp. |
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 |
Browse adjacent years: 2007 · 2009
Or jump to a category: Failures · Mergers · Enforcement · Assistance