Calendar Year
2020 in US Banking
609 bank events are on record for 2020: 4 failures, 437 mergers or acquisitions involving a bank, credit union or bank holding company, and 168 enforcement actions.
4
Failures
$455.0M in failed assets
437
Mergers
Federal Reserve NIC, banking organizations
168
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
Jump to: Bank failures 2020 · Bank mergers 2020
How many banks failed in 2020?
4 banks failed in 2020, with $455.0M in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Oct 23, 2020 | Almena State Bank | $65.7M |
| Oct 16, 2020 | First City Bank of Florida | $136.6M |
| Apr 3, 2020 | The First State Bank | $151.8M |
| Feb 14, 2020 | Ericson State Bank | $100.9M |
Which banks merged in 2020?
437 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 2020.
See the fuller list: Bank mergers 2020 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Dec 31, 2020 | Edison Credit Union, Inc. | Bridge Credit Union Inc. |
| Dec 31, 2020 | First Tulsa Federal Credit Union | Communication Federal Credit Union |
| Dec 16, 2020 | Yorktown Financial Holdings, Inc. | Fidelity Financial Corporation |
| Dec 15, 2020 | WinFirst Bank | Summit Community Bank, Inc |
| Dec 15, 2020 | Winfirst Financial Corporation | Summit Community Bank, Inc |
| Dec 14, 2020 | Bay Ridge Lodge No 632 Federal Credit Union | Consumers Federal Credit Union |
| Dec 12, 2020 | CBC Bank | PSB Bank |
| Dec 5, 2020 | AIMBank | First Bank & Trust |
| Dec 5, 2020 | (unnamed) | Border Bank |
| Dec 4, 2020 | Aim Bancshares, Inc. | AIMBank |
| Dec 1, 2020 | Sperry Associates Federal Credit Union | Pentagon Federal Credit Union |
| Dec 1, 2020 | Citizens Bank | The Bank of Holly Springs |
| Dec 1, 2020 | Community State Bank of Southwestern Indiana | Crane Credit Union |
| Dec 1, 2020 | American Bancshares Corp. | Citizens Bancorp Investment, Inc. |
| Dec 1, 2020 | Damariscotta Bankshares, Inc. | Bangor Bancorp, MHC |
| Dec 1, 2020 | Marshall Financial Corporation | Holly Springs Bancshares Inc |
| Dec 1, 2020 | Heritage State Bank | The First National Bank of Carmi |
| Dec 1, 2020 | Peoples Bank and Trust Company of Madison County | Whitaker Bank, Inc |
| Dec 1, 2020 | Whetelco Federal Credit Union | Bayer Heritage Federal Credit Union |
| Dec 1, 2020 | Damariscotta Bank & Trust Co. | Bangor Savings Bank |
| Dec 1, 2020 | Hilco Federal Credit Union | Kerr County Federal Credit Union |
| Dec 1, 2020 | Escambia County Bank | Amerifirst Bank |
| Nov 30, 2020 | Webster Federal Credit Union | Finger Lakes Federal Credit Union |
| Nov 18, 2020 | Wall Street Holding Company | Koda Bancor, Inc. |
| Nov 16, 2020 | Plattsmouth State Bank | First State Bank Nebraska |
| Nov 14, 2020 | BlackRidgeBANK | First Western Bank and Trust |
| Nov 13, 2020 | Seacoast Commerce Banc Holdings | Enterprise Financial Services Corp |
| Nov 13, 2020 | Seacoast Commerce Bank | Enterprise Bank & Trust |
| Nov 13, 2020 | WJC Federal Credit Union | Truliant Federal Credit Union |
| Nov 6, 2020 | Canton State Bank | United State Bank |
| Nov 2, 2020 | Charleston County Teachers Federal Credit Union | South Carolina Federal Credit Union |
| Nov 2, 2020 | Louvah Federal Credit Union | Abound Federal Credit Union |
| Nov 1, 2020 | Michael Baker International Federal Credit Union | Clearview Federal Credit Union |
| Nov 1, 2020 | Niagara Mohawk Power Corporation Troy Employees Federal Credit Union | Capital Communications Federal Credit Union |
| Nov 1, 2020 | Delmarva Bancshares, Inc. | BV Financial, Inc. |
| Nov 1, 2020 | Saint Alphonsus Medical Credit Union | Idaho Central Credit Union |
| Nov 1, 2020 | 1880 Bank | Bayvanguard Bank |
| Nov 1, 2020 | Ball State Federal Credit Union | Financial Center First Credit Union |
| Nov 1, 2020 | River Valley Credit Union | 802 Credit Union |
| Nov 1, 2020 | Calvary Baptist of Pacoima Federal Credit Union | Nuvision Federal Credit Union |
| Nov 1, 2020 | First Choice Community Credit Union | Credit Union of Ohio |
| Oct 31, 2020 | Virginia Bank and Trust Company | First National Bank |
| Oct 31, 2020 | Empire Bancorp, Inc. | Flushing Financial Corporation |
| Oct 31, 2020 | Empire National Bank | Flushing Bank |
| Oct 31, 2020 | Virginia Bank Bankshares, Inc. | Pinnacle Bankshares Corporation |
| Oct 31, 2020 | Bank of Glen Ullin | The Union Bank |
| Oct 31, 2020 | United Methodist First Choice Federal Credit Union | Interfaith Federal Credit Union |
| Oct 31, 2020 | Mawc Credit Union | Alliance Credit Union |
| Oct 22, 2020 | Texas Hill Country Bancshares, Inc. | Southwest Bancshares, Inc. |
| Oct 22, 2020 | Capitol of Texas Bancshares, Inc. | Southwest Bancshares, Inc. |
Enforcement Actions in 2020
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Dec 28, 2020 | FDIC | (individual) | FDIC Makes Public November Enforcement Actions |
| Dec 22, 2020 | FRB | Credit Suisse Group Ag | Written Agreement: Credit Suisse Group AG, Zurich, Switzerland; Credit Suisse AG, Zurich, Switzerland; Credit … |
| Dec 17, 2020 | OCC | Cfsbank | Notice of Charges: Bassi, Neil |
| Dec 11, 2020 | OCC | First National Bank of Omaha | Prohibition/Removal Orders: Zeitner, Michelle |
| Dec 10, 2020 | OCC | HSBC Bank USA, N.A. | Prohibition/Removal Orders: Johnson, Mark |
| Dec 10, 2020 | OCC | SoFi Bank, N.A. | Civil Money Penalty (CMP): Lyon, Bradley |
| Dec 10, 2020 | OCC | SoFi Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Lyon, Bradley |
| Dec 4, 2020 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Shade Wade |
| Nov 27, 2020 | FDIC | (individual) | FDIC Makes Public October Enforcement Actions |
| Nov 24, 2020 | OCC | JPMorgan Chase Bank, N.A. | Civil Money Penalty (CMP): JPMorgan Chase Bank, National Association |
| Nov 19, 2020 | FRB | Fifth Third Bank, N.A. | Section 19 Letters: Ashley R. Williams |
| Nov 19, 2020 | OCC | Eastern National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Eastern National Bank |
| Nov 13, 2020 Released Nov 19, 2020 | FRB | Craco, Inc. | Written Agreement: Craco, Inc., Vinita, Oklahoma |
| Nov 12, 2020 | OCC | Gateway Bank, F.S.B. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gateway Bank, F.S.B. |
| Nov 11, 2020 | OCC | USAA Federal Savings Bank | Civil Money Penalty (CMP): USAA Federal Savings Bank |
| Nov 10, 2020 | FRB | Cecil Bank | Section 19 Letters: Mary B. Halsey |
| Nov 6, 2020 Released Nov 10, 2020 | FRB | (individual) | Civil Money Penalty: Farmers Bank & Trust Company |
| Nov 4, 2020 | OCC | State Farm Bank, FSB | Civil Money Penalty (CMP): State Farm Bank, FSB |
| Nov 3, 2020 | OCC | Wells Fargo Bank, N.A. | Prohibition/Removal Orders: Roman, Sara |
| Oct 30, 2020 | FDIC | (individual) | FDIC Makes Public September Enforcement Actions; |
| Oct 22, 2020 | FRB | The Goldman Sachs Group, Inc. | Cease and Desist Order: The Goldman Sachs Group, Inc., New York, New York |
| Oct 22, 2020 | FRB | The Goldman Sachs Group, Inc. | Civil Money Penalty: The Goldman Sachs Group, Inc., New York, New York |
| Oct 15, 2020 Released Oct 20, 2020 | FRB | First Savings Bank | Cease and Desist Order: Weldon Riggs |
| Oct 14, 2020 | OCC | USAA Federal Savings Bank | Civil Money Penalty (CMP): USAA Federal Savings Bank |
| Oct 14, 2020 Released Oct 15, 2020 | FRB | M&T Bank Corporation | Civil Money Penalty: M&T Bank, Buffalo, NY |
| Oct 13, 2020 | OCC | City National Bank of New Jersey | Civil Money Penalty (CMP): Monegro, David |
| Oct 13, 2020 | OCC | City National Bank of New Jersey | Prohibition/Removal Orders: Monegro, David |
| Oct 13, 2020 | OCC | Cfsbank | Civil Money Penalty (CMP): Galloni, David |
| Oct 13, 2020 | OCC | Cfsbank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Galloni, David |
| Oct 9, 2020 | OCC | First Abu Dhabi Bank USA N.V. | Civil Money Penalty (CMP): First Abu Dhabi Bank USA N.V. |
| Oct 8, 2020 | OCC | Morgan Stanley Bank, N.A. | Civil Money Penalty (CMP): Morgan Stanley Bank, N.A. |
| Oct 8, 2020 | OCC | Morgan Stanley Private Bank, N.A. | Civil Money Penalty (CMP): Morgan Stanley Private Bank, National Association |
| Oct 7, 2020 | OCC | Citibank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Citibank, National Association |
| Oct 7, 2020 | OCC | Citibank, N.A. | Civil Money Penalty (CMP): Citibank, National Association |
| Oct 7, 2020 | FRB | Citigroup Inc. | Cease and Desist Order: Citigroup, Inc., New York, New York |
| Oct 5, 2020 | OCC | Business Bank of Texas, N.A. | Formal Agreement: Business Bank of Texas, National Association |
| Sep 28, 2020 | FRB | (individual) | Section 19 Letters: Kelly R. Salisbury |
| Sep 28, 2020 Released Oct 1, 2020 | FRB | Atlantic Community Bankers Bank | Written Agreement: Atlantic Community Bankers Bank, Camp Hill, Pennsylvania |
| Sep 25, 2020 | FDIC | (individual) | FDIC Makes Public August Enforcement Actions; |
| Sep 21, 2020 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Raphaelson, Matthew |
| Sep 21, 2020 | OCC | Wells Fargo Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Zimmerman, Kenneth |
| Sep 21, 2020 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Kidd, Tracy |
| Sep 21, 2020 | OCC | Wells Fargo Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Kidd, Tracy |
| Sep 21, 2020 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Zimmerman, Kenneth |
| Sep 21, 2020 | OCC | Wells Fargo Bank, N.A. | Prohibition/Removal Orders: Raphaelson, Matthew |
| Sep 18, 2020 | OCC | GN Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): GN Bank |
| Sep 16, 2020 | OCC | CIT Bank, National Association | Civil Money Penalty (CMP): CIT Bank, National Association |
| Sep 15, 2020 | OCC | City National Bank of New Jersey | Civil Money Penalty (CMP): Carney, Alfonso |
| Sep 9, 2020 | FRB | Peoples Bank & Trust Company of Hazard | Section 19 Letters: Tracy L. Amburgey |
| Sep 9, 2020 | OCC | Bank of America, N.A. | Prohibition/Removal Orders: Rivera, Christian |
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