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 |
|---|---|---|---|
| Jan 24, 2020 Released Jan 30, 2020 | FRB | (individual) | Civil Money Penalty: Alden State Bank, Alden, New York |
| Jan 23, 2020 | OCC | Wells Fargo Bank, N.A. | Notice of Charges: Strother, James |
| Jan 23, 2020 | OCC | Wells Fargo Bank, N.A. | Notice of Charges: Tolstedt, Carrie |
| Jan 23, 2020 | OCC | Wells Fargo Bank, N.A. | Notice of Charges: McLinko, Paul |
| Jan 23, 2020 | OCC | Wells Fargo Bank, N.A. | Notice of Charges: Julian, David |
| Jan 23, 2020 | OCC | Wells Fargo Bank, N.A. | Notice of Charges: Russ Anderson, Claudia |
| Jan 22, 2020 | FRB | (individual) | Section 19 Letters: Susann Nelson |
| Jan 22, 2020 | OCC | Wells Fargo Bank, N.A. | Prohibition/Removal Orders: Stumpf, John |
| Jan 22, 2020 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Stumpf, John |
| Jan 22, 2020 | FRB | (individual) | Section 19 Letters: Joe Frank Rodriguez |
| Jan 21, 2020 | OCC | Wells Fargo Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Hardison, Hope |
| Jan 21, 2020 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Hardison, Hope |
| Jan 17, 2020 | OCC | Citibank, N.A. | Civil Money Penalty (CMP): Citibank, N.A. |
| Jan 8, 2020 | FRB | RCB Bank | Section 19 Letters: Michelle C. Colfax |
| Jan 8, 2020 | OCC | Wells Fargo Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Loughlin, Michael |
| Jan 8, 2020 | FRB | High Country Bank | Section 19 Letters: April M. Kali |
| Jan 8, 2020 | OCC | JPMorgan Chase Bank, N.A. | Suspension Order for Criminal Conduct: Ruffo, Jeffrey |
| Jan 8, 2020 | OCC | Wells Fargo Bank, N.A. | Civil Money Penalty (CMP): Loughlin, Michael |
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