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 |
|---|---|---|
| Sep 1, 2016 | The First National Bank of Niagara | mBank |
| Sep 1, 2016 | Members 1st Community Federal Credit Union | Statewide Federal Credit Union |
| Sep 1, 2016 | Citizens State Bank | Pineland Bank |
| Sep 1, 2016 | Monessen School Employees Federal Credit Union | Valley 1st Community Federal Credit Union |
| Sep 1, 2016 | Florence Dupont Employees Federal Credit Union | South Carolina Federal Credit Union |
| Sep 1, 2016 | Jeff-Co Schools Federal Credit Union | Kaskaskia Valley Credit Union |
| Sep 1, 2016 | Trustus Federal Credit Union | Texas Trust Credit Union |
| Sep 1, 2016 | Postmark Credit Union | Xceed Financial Credit Union |
| Sep 1, 2016 | United Services Federal Credit Union | Sun Federal Credit Union |
| Sep 1, 2016 | Fidelity National Bank | Abbybank |
| Aug 31, 2016 | Central Hudson Employees Federal Credit Union | Mid-Hudson Valley Federal Credit Union |
| Aug 31, 2016 | Saint Joseph Hospital Credit Union | Triangle Credit Union |
| Aug 29, 2016 | Franklin County United Bank | Citizens Tri-County Bank |
| Aug 27, 2016 | Capital Bank | Royal Credit Union |
| Aug 25, 2016 | American Chartered Bancorp, Inc. | MB Financial, Inc. |
| Aug 25, 2016 | American Chartered Bank | MB Financial Bank, National Association |
| Aug 24, 2016 | PNC Funding Corp. | The PNC Financial Services Group, Inc. |
| Aug 22, 2016 | Hurlbut Employees Federal Credit Union | Greylock Federal Credit Union |
| Aug 20, 2016 | The Stockton National Bank | Solutions North Bank |
| Aug 16, 2016 | Firstmerit Corporation | Huntington Bancshares Incorporated |
| Aug 16, 2016 | Firstmerit Bank, National Association | The Huntington National Bank |
| Aug 15, 2016 | Immanuel Baptist Church Federal Credit Union | Unity Financial |
| Aug 13, 2016 | Flathead Bank of Bigfork, Montana | First Interstate Bank |
| Aug 13, 2016 | The Bank of Oswego | HomeStreet Bank |
| Aug 13, 2016 | Penn Liberty Bank | Wilmington Savings Fund Society, FSB |
| Aug 13, 2016 | Penn Liberty Financial Corp | WSFS Financial Corporation |
| Aug 13, 2016 | First Live Oak Bancshares, Inc. | County Bancshares, Inc. |
| Aug 13, 2016 | West Michigan Bank & Trust | West Shore Bank |
| Aug 10, 2016 | Cornerstone Baptist Church Federal Credit Union | Consumers Federal Credit Union |
| Aug 6, 2016 | Milton Bancorp, Inc. | Ohio Valley Banc Corp. |
| Aug 6, 2016 | First Safety Bank | First State Bank |
| Aug 6, 2016 | The Milton Banking Company | The Ohio Valley Bank Company |
| Aug 2, 2016 | Prime Pacific Bank, National Association | Bank of the Cascades |
| Aug 2, 2016 | Tri-Parish Bancshares, Ltd. | Pedestal Bancshares, Inc. |
| Aug 2, 2016 | Prime Pacific Financial Services, Inc. | Cascade Bancorp |
| Aug 1, 2016 | Alamo Federal Credit Union | Pentagon Federal Credit Union |
| Aug 1, 2016 | Okey-Vernon First National Bank | TS Bank |
| Aug 1, 2016 | Lamar Civic Federal Credit Union | Peoples Credit Union |
| Aug 1, 2016 | Oral Federal Credit Union | Hawaiian Financial Federal Credit Union |
| Aug 1, 2016 | Wat Federal Credit Union | First Harvest Federal Credit Union |
| Aug 1, 2016 | Mid America Bank | Advia Credit Union |
| Aug 1, 2016 | Oswego Heritage Federal Credit Union | Compass Federal Credit Union |
| Aug 1, 2016 | Irondequoit Federal Credit Union | Wit Federal Credit Union |
| Aug 1, 2016 | Northwest Georgia Credit Union | Coosa Valley Credit Union |
| Aug 1, 2016 | First National Bank | WestStar Bank |
| Aug 1, 2016 | RCT Federal Credit Union | Peach State Federal Credit Union |
| Aug 1, 2016 | The National Bank of Delaware County | Wayne Bank |
| Aug 1, 2016 | Colorado East Bank & Trust | TBK Bank, SSB |
| Aug 1, 2016 | Country Bank | State Bank of Arizona |
| Aug 1, 2016 | First Niagara Financial Group, Inc. | KeyCorp |
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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