Calendar Year
2016 in US Banking
871 bank events are on record for 2016: 5 failures, 655 mergers or acquisitions involving a bank, credit union or bank holding company, and 211 enforcement actions.
5
Failures
$277.2M in failed assets
655
Mergers
Federal Reserve NIC, banking organizations
211
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
Jump to: Bank failures 2016 · Bank mergers 2016
How many banks failed in 2016?
5 banks failed in 2016, with $277.2M in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Sep 23, 2016 | Allied Bank | $66.3M |
| Aug 19, 2016 | The Woodbury Banking Company | $21.4M |
| May 6, 2016 | First Cornerstone Bank | $103.3M |
| Apr 29, 2016 | Trust Company Bank | $19.0M |
| Mar 11, 2016 | North Milwaukee State Bank | $67.1M |
Which banks merged in 2016?
655 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 2016.
See the fuller list: Bank mergers 2016 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Apr 23, 2016 | The First Bank of Fairland | The First National Bank and Trust Company of Miami |
| Apr 23, 2016 | First Bank of Lincoln | Citizens Alliance Bank |
| Apr 19, 2016 | Rector Federal Credit Union | American Heritage Federal Credit Union |
| Apr 18, 2016 | National Bank of Tennessee | Commercial Bank |
| Apr 16, 2016 | Community Bank of the South | CharterBank |
| Apr 16, 2016 | CBS Financial Corporation | Charter Financial Corporation |
| Apr 15, 2016 | Conestoga Bank | Beneficial Bank |
| Apr 15, 2016 | First Express of Nebraska, Inc. | Western States Bancorporation |
| Apr 11, 2016 | Star Bank of Texas | Community National Bank & Trust of Texas |
| Apr 10, 2016 | Dexter Credit Union | Navigant Credit Union |
| Apr 9, 2016 | First Avenue National Bank | CBC National Bank |
| Apr 9, 2016 | Community Bank, National Association | Security Bank of the Ozarks |
| Apr 9, 2016 | Summersville Bancorporation, Inc. | Eminence Bankshares, Inc. |
| Apr 2, 2016 | Altoona Regional Health System Federal Credit Union | Healthcare First Credit Union |
| Apr 2, 2016 | National Penn Bank | Truist Bank |
| Apr 2, 2016 | National Penn Management Services, LLC | Truist Bank |
| Apr 2, 2016 | Central Bank | MidWestOne Bank |
| Apr 2, 2016 | National Penn Bancshares, Inc. | Truist Financial Corporation |
| Apr 2, 2016 | Electrical Workers Credit Union | Revity Credit Union |
| Apr 1, 2016 | Babbitt Steelworkers Credit Union | Ely Area Credit Union |
| Apr 1, 2016 | Hometown Community Bancorp Inc | Hometown Financial Group, Inc |
| Apr 1, 2016 | Hometown Community Bancorp MHC | Hometown Financial Group MHC |
| Apr 1, 2016 | Community First Bank | Regal Bank |
| Apr 1, 2016 | KeyWorth Bank | Renasant Bank |
| Apr 1, 2016 | OldTown Bank | Entegra Bank |
| Apr 1, 2016 | Century Bank Corp. | First Farmers Financial Corporation |
| Apr 1, 2016 | Macon Water Works Credit Union | Center Parc Credit Union |
| Apr 1, 2016 | Montclair Postal Employees Credit Union | Proponent Federal Credit Union |
| Apr 1, 2016 | Ruth Bank Corporation | Eastern Michigan Financial Corporation |
| Apr 1, 2016 | Town & Country Financial, Inc. | First United Bancorp, Inc. |
| Apr 1, 2016 | Great River Community Credit Union | United Community Credit Union |
| Apr 1, 2016 | Community Financial Credit Union | Blue Federal Credit Union |
| Apr 1, 2016 | Reach Federal Credit Union | Xceed Financial Credit Union |
| Apr 1, 2016 | Bank of Ohio County, Inc. | First United Bank and Trust Company, Inc. |
| Apr 1, 2016 | Wyoming County School Employees Federal Credit Union | Penn East Federal Credit Union |
| Apr 1, 2016 | Metro Shores Credit Union | Public Service Credit Union |
| Apr 1, 2016 | Ruth State Bank | Eastern Michigan Bank |
| Apr 1, 2016 | Health First Federal Credit Union | KV Federal Credit Union |
| Apr 1, 2016 | Grantsville Federal Credit Union | American United Federal Credit Union |
| Apr 1, 2016 | White House Federal Credit Union | Department of Commerce Federal Credit Union |
| Apr 1, 2016 | The Citizens Exchange Bank | First Farmers Bank & Trust Co. |
| Apr 1, 2016 | Mea Federal Credit Union | Kinetic Credit Union |
| Apr 1, 2016 | Metropolitan Service Federal Credit Union | American Heritage Federal Credit Union |
| Apr 1, 2016 | Greater Piedmont Credit Union | Self-Help Credit Union |
| Apr 1, 2016 | Southern Select Community Cu | Nova Credit Union |
| Apr 1, 2016 | Holy Family Hospital Employees Federal Credit Union | Align Credit Union |
| Apr 1, 2016 | Barre Savings Bank | Fidelity Co-Operative Bank |
| Apr 1, 2016 | Howland-Enfield Federal Credit Union | Penobscot County |
| Apr 1, 2016 | Wesley Medical Credit Union | Mid American Credit Union |
| Apr 1, 2016 | Ascentia Federal Credit Union | North Star Community Credit Union |
The list holds 500 of the 655 mergers recorded for 2016.
Enforcement Actions in 2016
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Aug 5, 2016 Released Jan 11, 2018 | FRB | (individual) | Written Agreement: Liberty Bank, South San Francisco, California |
| Aug 3, 2016 | FRB | (individual) | Notice of Intent: Joseph Jiampietro |
| Aug 3, 2016 | FRB | The Goldman Sachs Group, Inc. | Civil Money Penalty, $36,300,000: The Goldman Sachs Group, Inc., New York, New York |
| Aug 2, 2016 | FRB | (individual) | Section 19 Letters: Michael Oppenheim |
| Aug 2, 2016 Released Aug 3, 2016 | FRB | The Goldman Sachs Group, Inc. | Cease and Desist Order: The Goldman Sachs Group, Inc., New York, New York |
| Jul 27, 2016 Released Jul 28, 2016 | FRB | Columbus Junction State Bank | Prohibition from Banking: Thomas H. Huston |
| Jul 27, 2016 Released Jul 28, 2016 | FRB | Columbus Junction State Bank | Prohibition from Banking: T. Mark Huston |
| Jul 25, 2016 | OCC | Fidelity Bank of Florida, N.A. | Prohibition/Removal Orders: Guldi, James E. |
| Jul 25, 2016 | OCC | First Niagara Bank, N.A. | Civil Money Penalty (CMP): First Niagara Bank, National Association |
| Jul 25, 2016 | OCC | Fidelity Bank of Florida, N.A. | Civil Money Penalty (CMP): Guldi, James E. |
| Jul 20, 2016 | OCC | Business Bank of Texas, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Business Bank of Texas, National Association |
| Jul 19, 2016 | FRB | Barclays Bank PLC | Prohibition from Banking: Matthew Gardiner |
| Jul 15, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Clarice A. Watkins |
| Jul 15, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Tajudeen A. Rabiu |
| Jul 15, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Elisa Feliciano |
| Jul 11, 2016 | OCC | SoFi Bank, N.A. | Notice of Charges: Dowdell, Kirk N. |
| Jun 30, 2016 Released Aug 29, 2016 | FRB | Barclays Bank PLC | Notice of Intent: Christopher Ashton |
| Jun 30, 2016 | OCC | First National Bank PLC | Notice of Charges: Overby, Archie G. |
| Jun 28, 2016 | FRB | Regions Bank | Section 19 Letters: Carol Rushton |
| Jun 24, 2016 | OCC | Superior Bank | Notice of Charges: McKinnon, William C. |
| Jun 24, 2016 | OCC | Superior Bank | Notice of Charges: Pomeroy, Kenneth D. |
| Jun 17, 2016 | FRB | Regions Bank | Section 19 Letters: Gayle Boyd |
| Jun 14, 2016 | OCC | (individual) | Prohibition/Removal Orders: Janini, Angela L. |
| Jun 13, 2016 Released Jun 16, 2016 | FRB | (individual) | Cease and Desist Order: Affinity Financial Corporation, Newport Beach, California, and Waterfield Financial Services, … |
| Jun 10, 2016 | FRB | Orrstown Bank | Section 19 Letters: Mindy S. Dolbin-Degrave |
| Jun 10, 2016 | FRB | (individual) | Section 19 Letters: Stephanie Ann McCane |
| Jun 9, 2016 | FRB | Profile Bank | Section 19 Letters: Jennifer Dube |
| May 31, 2016 | OCC | Transact Bank, N.A. | Formal Agreement: Colorado National Bank |
| May 24, 2016 | OCC | Carver Federal Savings Bank | Formal Agreement: Carver Federal Savings Bank |
| May 24, 2016 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Wells Fargo Bank, National Association |
| May 12, 2016 | FRB | (individual) | Section 19 Letters: Marikay L. Mulholland |
| May 11, 2016 Released May 17, 2016 | FRB | (individual) | Civil Money Penalty, $27,285: First Community Bank, Glasgow, Montana |
| May 10, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Regina M. Williamson |
| May 5, 2016 | OCC | The Northumberland National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Northumberland National Bank |
| May 3, 2016 | OCC | Gibraltar Private Bank & Trust Co. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Ellis, Lisa |
| Apr 28, 2016 | OCC | TCF National Bank | Civil Money Penalty (CMP): TCF National Bank |
| Apr 26, 2016 Released May 3, 2016 | FRB | Farmers and Merchants Bank of Ashland | Civil Money Penalty, $6,200: Farmers & Merchants Bank of Ashland, Ashland, Nebraska |
| Apr 19, 2016 | OCC | The First National Bank of Scott City | Formal Agreement: The First National Bank of Scott City |
| Apr 18, 2016 | OCC | Stearns Bank N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Stearns Bank National Association |
| Apr 18, 2016 | OCC | Stearns Bank N.A. | Civil Money Penalty (CMP): Stearns Bank National Association |
| Apr 14, 2016 | FRB | D'Hanis State Bank | Section 19 Letters: Laurie Mayfield |
| Apr 13, 2016 Released Apr 14, 2016 | FRB | (individual) | Cease and Desist Order: Gentry Parker |
| Apr 12, 2016 | OCC | HSBC Bank USA, N.A. | C&D or PC&D Requiring Restitution: HSBC Bank USA, National Association |
| Apr 12, 2016 | OCC | HSBC Bank USA, N.A. | Civil Money Penalty (CMP): HSBC Bank USA, National Association |
| Apr 12, 2016 | OCC | HSBC Bank USA, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): HSBC Bank USA, National Association |
| Apr 12, 2016 | FRB | (individual) | Section 19 Letters: Jason Gross |
| Apr 12, 2016 Released Aug 14, 2018 | FRB | Commercewest Bank | Cease and Desist Order: CommerceWest Bank, Irvine, California |
| Apr 4, 2016 | OCC | United Americas Bank, N.A. | Notice of Charges: Blanton, William R. |
| Apr 1, 2016 | FRB | Country Bancorporation | Section 19 Letters: Heidi Wagler |
| Mar 30, 2016 | FRB | The Croghan Colonial Bank | Section 19 Letters: Alice Perry |
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