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 |
|---|---|---|
| Jul 1, 2016 | First State Bank | Bankwest, Incorporated |
| Jul 1, 2016 | Brimfield Bank | Farmers & Mechanics Bank |
| Jul 1, 2016 | Bank of Floyd | Skyline National Bank |
| Jul 1, 2016 | Homeland Federal Credit Union | Post Office Employees Credit Union |
| Jul 1, 2016 | First Federal Savings Bank of Boston | Envision Bank |
| Jul 1, 2016 | Saint Pauls Parish Federal Credit Union | Oc Federal Credit Union |
| Jul 1, 2016 | First Bank of the South | First State Bank of Dekalb County, Inc. |
| Jul 1, 2016 | Freedom Federal Credit Union | Coastal Federal Credit Union |
| Jul 1, 2016 | Keystone Federal Credit Union | Trumark Credit Union |
| Jul 1, 2016 | Avenue Bank | Pinnacle Bank |
| Jul 1, 2016 | Oak Trust Credit Union | Northstar Credit Union |
| Jul 1, 2016 | Saint Lukes Credit Union | Communityamerica Federal Credit Union |
| Jul 1, 2016 | Monofrax Employees Federal Credit Union | Affinity One Federal Credit Union |
| Jul 1, 2016 | Mazon State Bank | First Community Financial Bank |
| Jul 1, 2016 | The Talbot Bank of Easton, Maryland | Shore United Bank, N.A. |
| Jul 1, 2016 | First State Refinery Federal Credit Union | Dexsta Federal Credit Union |
| Jul 1, 2016 | General Mills Employees Credit Union | Illiana Financial Credit Union |
| Jul 1, 2016 | Lake Federal Bank, FSB | First Savings Bank of Hegewisch |
| Jul 1, 2016 | First Rainsville Bancshares, Inc. | First State Bancshares of Dekalb County, Inc. |
| Jul 1, 2016 | Gresham Bancshares, Inc. | West End Financial Corp. |
| Jul 1, 2016 | Hassenstab Management Co., Inc. | Bellwood Community Holding Company |
| Jul 1, 2016 | Grayson Bankshares, Inc. | Skyline Bankshares, Inc. |
| Jul 1, 2016 | Cardinal Bankshares Corporation | Skyline Bankshares, Inc. |
| Jul 1, 2016 | Frontenac Bancshares, Inc. | Royal Acquisition LLC |
| Jul 1, 2016 | Tidelands Bank | United Community Bank |
| Jul 1, 2016 | 1st Century Bank, National Association | MidFirst Bank |
| Jul 1, 2016 | Avenue Financial Holdings, Inc. | Pinnacle Financial Partners, Inc. |
| Jul 1, 2016 | 1st Century Bancshares, Inc. | Midland Financial Co. |
| Jul 1, 2016 | Harmony Bank | Lakeland Bank |
| Jul 1, 2016 | Fox Chase Bancorp, Inc. | Univest Financial Corporation |
| Jul 1, 2016 | First Eastern Bankshares Corporation | Randolph Bancorp Inc. |
| Jul 1, 2016 | Fox Chase Financial, Inc | Univest Bank and Trust Co. |
| Jul 1, 2016 | Fox Chase Service Corporation | Univest Bank and Trust Co. |
| Jul 1, 2016 | Davisville Associates, LLC | Univest Bank and Trust Co. |
| Jun 30, 2016 | Globe Industries Employees Credit Union, Inc. | Firefighters & Company Federal Credit Union |
| Jun 30, 2016 | The Trust Company of Sterne Agee, Inc. | Stifel Trust Company N.A. |
| Jun 30, 2016 | First Port Byron Bancorp, Inc. | Blackhawk Bancorporation, Inc. |
| Jun 30, 2016 | Port Byron State Bank | Blackhawk Bank & Trust |
| Jun 30, 2016 | Erie Shores Community Federal Credit Union | Cardinal Credit Union, Inc. |
| Jun 30, 2016 | Youngstown Ohio City Employees Federal Credit Union | Cardinal Credit Union, Inc. |
| Jun 28, 2016 | Clearfield Stone Workers Federal Credit Union | Priority First Federal Credit Union |
| Jun 27, 2016 | Reid Temple Ame Church Federal Credit Union | WSSC Federal Credit Union |
| Jun 25, 2016 | Monarch Bank | TowneBank |
| Jun 25, 2016 | Monarch Financial Holdings, Inc | TowneBank |
| Jun 20, 2016 | (unnamed) | Dundee Bank |
| Jun 18, 2016 | Pan American Bank | Beneficial State Bank |
| Jun 18, 2016 | Rural Bancshares of Wisconsin, Inc. | Boscobel Bancorp, Inc. |
| Jun 18, 2016 | Valley Bank and Trust Co. | Western States Bank |
| Jun 18, 2016 | Rancocas Federal Credit Union | Healthcare Employees Federal Credit Union |
| Jun 17, 2016 | Southcoast Financial Corporation | BNC Bancorp |
The list holds 500 of the 655 mergers recorded for 2016.
Enforcement Actions in 2016
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Mar 30, 2016 | FRB | (individual) | Section 19 Letters: Bridget C. Bade |
| Mar 30, 2016 | FRB | Comerica Bank | Section 19 Letters: Brenda Paul |
| Mar 29, 2016 | OCC | The Somerville National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Somerville National Bank |
| Mar 29, 2016 | FRB | Rhode Island National Corporation | Section 19 Letters: Victor Silva |
| Mar 24, 2016 | OCC | Neighborhood National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Neighborhood National Bank |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | C&D or PC&D Requiring Restitution: Ellsworth, Steven J. |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | C&D or PC&D Requiring Restitution: Stevenson, Kevin W. |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Stevenson, Kevin W. |
| Mar 23, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Eric I. Morton |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | Civil Money Penalty (CMP): Ellsworth, Steven J. |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | Civil Money Penalty (CMP): Stevenson, Kevin W. |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | Prohibition/Removal Orders: Ellsworth, Steven J. |
| Mar 23, 2016 | OCC | First National Bank | Prohibition/Removal Orders: Farrell, Jeffrey Allen |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | Prohibition/Removal Orders: Stevenson, Kevin W. |
| Mar 23, 2016 | OCC | Valley Capital Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Ellsworth, Steven J. |
| Mar 17, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Parrish, Robert |
| Mar 16, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Ryan R. Heckman |
| Mar 15, 2016 | OCC | Gibraltar Private Bank & Trust Co. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Sanders, Charles |
| Mar 15, 2016 | OCC | Gibraltar Private Bank & Trust Co. | Civil Money Penalty (CMP): Sanders, Charles |
| Mar 14, 2016 Released Mar 24, 2016 | FRB | National Bank of Pakistan | Written Agreement: National Bank of Pakistan, Karachi, Pakistan and National Bank of Pakistan, New … |
| Mar 8, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Robert Hance |
| Mar 3, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Hall, George |
| Mar 3, 2016 Released Nov 28, 2023 | FRB | Hazard Bancorp | Written Agreement: Hazard Bancorp, Hazard, Kentucky, and Peoples Bank and Trust Company of Hazard, … |
| Mar 3, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Scott, Charles Marvin |
| Mar 3, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Maddox, Dewayne Shannon |
| Mar 3, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Figlweski, John |
| Mar 2, 2016 | FRB | Comerica Bank | Section 19 Letters: Scott Drogs |
| Mar 2, 2016 | FRB | Comerica Bank | Section 19 Letters: Monay Jacobs |
| Feb 25, 2016 | FRB | (individual) | Section 19 Letters: Joseph Graziano, Jr. |
| Feb 24, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Kathryn A. Jackson |
| Feb 24, 2016 Released Dec 6, 2022 | FRB | (individual) | Written Agreement: Industrial Bank of Korea, Seoul, Korea, and Industrial Bank of Korea New … |
| Feb 24, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Kimberly Thomas-McDade |
| Feb 23, 2016 | FRB | M&T Bank Corporation | Section 19 Letters: Michael A. Whipple |
| Feb 23, 2016 | OCC | Gibraltar Private Bank & Trust Co. | Civil Money Penalty (CMP): Gibraltar Private Bank & Trust Co. |
| Feb 22, 2016 | FRB | (individual) | Section 19 Letters: David Thomas Prawdzik |
| Feb 22, 2016 | OCC | Hometown Bank of the Hudson Valley | Formal Agreement: Hometown Bank of The Hudson Valley |
| Feb 22, 2016 | FRB | First National Bank, Fort Dodge, Iowa | Section 19 Letters: Lisa Kay Langner |
| Feb 22, 2016 | FRB | (individual) | Section 19 Letters: Kimberly M. Misky |
| Feb 22, 2016 | FRB | (individual) | Section 19 Letters: Jennifer Leigh Upright |
| Feb 18, 2016 | FRB | Arvest Bank | Section 19 Letters: Henry Dennis Smiley, Jr. |
| Feb 17, 2016 | OCC | Blue Grass Federal Savings and Loan Association | Formal Agreement: Blue Grass FS & LA |
| Feb 8, 2016 | OCC | Santander Bank, N.A. | Civil Money Penalty (CMP): Santander Bank, National Association |
| Feb 8, 2016 | OCC | U.S. Bank N.A. | Civil Money Penalty (CMP): U.S. Bank National Association |
| Feb 5, 2016 | FRB | HSBC North America Holdings Inc. | Civil Money Penalty, $131,000,000: HSBC North America Holdings, Inc., New York, New York |
| Feb 4, 2016 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Christopher D. Boston |
| Feb 3, 2016 | OCC | Gibraltar Bank | Formal Agreement: Gibraltar Bank |
| Feb 3, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Bailey, Charles Stanley |
| Feb 3, 2016 | OCC | Superior Bank | Prohibition/Removal Orders: Roberts, Charles Wesley |
| Feb 2, 2016 | OCC | Bank of Indiana, N.A. | Civil Money Penalty (CMP): Fehrenbach, Dan J. |
| Feb 2, 2016 | OCC | Bank of Indiana, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Fehrenbach, Dan J. |
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