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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
Aug 1, 2008 Clinton County Postal Credit Union IA 1st Gateway Credit Union
Aug 1, 2008 NBanC OK NBC Oklahoma
Aug 1, 2008 Colony Bank Ashburn GA Colony Bank
Aug 1, 2008 Colony Bank Southeast GA Colony Bank
Jul 26, 2008 The Continental National Bank of Harlowton MT Citizens Bank & Trust Company
Jul 26, 2008 Zion United Credit Union CO Denver Community Credit Union dba Zing Credit Union
Jul 25, 2008 First National Bank of Gwinnett GA Suntrust Bank
Jul 25, 2008 Home Town Bank of Villa Rica GA Suntrust Bank
Jul 25, 2008 United Bank & Trust Company GA Suntrust Bank
Jul 25, 2008 First National Bank of the South GA Suntrust Bank
Jul 25, 2008 Gainesville Bank & Trust GA Suntrust Bank
Jul 25, 2008 Community Trust Bank GA Suntrust Bank
Jul 25, 2008 Mountain State Bank GA Suntrust Bank
Jul 21, 2008 Countryside Bancshares, Inc. MO Countryside Acquisition Corporation
Jul 21, 2008 Countryside Bank MO The Bank of Missouri
Jul 19, 2008 MFB Financial (The "Savings Bank") IN MutualBank
Jul 19, 2008 Guaranty Bancshares, Inc. MO Central Bancompany, Inc
Jul 19, 2008 The Greene County Bank MO Central Bank of The Ozarks
Jul 18, 2008 Columbia County Farmers National Bank PA Journey Bank
Jul 18, 2008 Columbia Financial Corporation PA Muncy Columbia Financial Corporation
Jul 18, 2008 Goodman State Bank MO First Community Bank
Jul 16, 2008 J M P Employees Federal Credit Union NY Jamestown Area Community Federal Credit Union
Jul 15, 2008 Dallas Western Union Employees Credit Union TX Corner Stone Credit Union
Jul 14, 2008 First Security Bank - Renville MN First Security Bank - Sleepy Eye
Jul 12, 2008 The Belvidere National Bank and Trust Company IL Alpine Bank & Trust Co.
Jul 12, 2008 (unnamed) — Cohutta Banking Company
Jul 12, 2008 The Lancaster National Bank NH Passumpsic Savings Bank
Jul 11, 2008 (unnamed) — First Place Bank
Jul 8, 2008 Murray County Federal Credit Union GA Comtrust Federal Credit Union
Jul 7, 2008 Skidmore Students Federal Credit Union NY Broadview Federal Credit Union
Jul 4, 2008 Spectrum Bank CA Professional Business Bank
Jul 3, 2008 Alician Fcu PA Servco Federal Credit Union
Jul 3, 2008 Holden Bankshares, Inc. MO Holden Acquisition Corporation
Jul 1, 2008 City of Alexandria Employees Credit Union VA Commonwealth One Federal Credit Union
Jul 1, 2008 MRS. Tuckers Jacksonville Federal Credit Union IL Sangamo Chapter Credit Union
Jul 1, 2008 Mellon Trust of New England, National Association MA The Bank of New York Mellon
Jul 1, 2008 Mellon Trust of New England, National Association MA BNY Mellon, N.A.
Jul 1, 2008 Clarion University Federal Credit Union PA Pennsylvania State Employees Credit Union dba Psecu
Jul 1, 2008 Putnam County Teachers Credit Union FL First Coast Community Credit Union
Jul 1, 2008 Missouri Family Federal Credit Union MO R-G Federal Credit Union
Jul 1, 2008 Cannon Financial Federal Credit Union CA Financial Partners Credit Union
Jul 1, 2008 1st United Labor Federal Credit Union KY Beacon Community Credit Union
Jul 1, 2008 Media 1st Federal Credit Union VA Call Federal Credit Union
Jul 1, 2008 Key Federal Credit Union TX Smart Financial Credit Union
Jul 1, 2008 D O D Federal Credit Union MI Southwest Michigan Federal Credit Union
Jul 1, 2008 Northwest Navigation Federal Credit Union WA Waterfront Federal Credit Union
Jul 1, 2008 Electrical Workers 601 Credit Union IL University of Illinois Community Credit Union
Jul 1, 2008 Mission Arts Employees Federal Credit Union MT Northwestern Energy Employees Federal Credit Union
Jul 1, 2008 Mellon Securities Trust Company NY The Bank of New York Mellon
Jul 1, 2008 Rochester Federal Credit Union NY Xceed Financial Credit Union

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 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

Browse adjacent years: 2007 · 2009

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