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 |
|---|---|---|
| Aug 15, 2020 | Dyer F & M Bancshares, Inc. | Security Bancshares, Inc. |
| Aug 15, 2020 | Geico Federal Credit Union | Baxter Credit Union |
| Aug 15, 2020 | Bank of Laverne | Security State Bank |
| Aug 8, 2020 | Union Bank of Blair | Waumandee State Bank |
| Aug 8, 2020 | Bolivar Acquisition Corp. | Reliable Community Bancshares, Inc. |
| Aug 8, 2020 | Bank of Bolivar | The Bank of Missouri |
| Aug 1, 2020 | District 05 Dotd Federal Credit Union | Centric Federal Credit Union |
| Aug 1, 2020 | Freedom National Bank | Bristol County Savings Bank |
| Aug 1, 2020 | SB One Bancorp | Provident Financial Services, Inc. |
| Aug 1, 2020 | Cadmus Credit Union, Inc. | Chartway Federal Credit Union |
| Aug 1, 2020 | I R S E Credit Union | Cooperative Choice Network Credit Union |
| Aug 1, 2020 | Spartanburg City Employees Credit Union | South Carolina Federal Credit Union |
| Aug 1, 2020 | SB One Bank | Provident Bank |
| Aug 1, 2020 | Al Gar Federal Credit Union | Chessie Federal Credit Union |
| Aug 1, 2020 | Icon Credit Union | Horizon Credit Union |
| Aug 1, 2020 | Saint Columbkille Federal Credit Union | All Saints Federal Credit Union |
| Aug 1, 2020 | Glenview Credit Union | Partnership Financial Credit Union |
| Aug 1, 2020 | Union Memorial Credit Union | St. Louis Community Credit Union |
| Aug 1, 2020 | River Cities Community | Frontier Community Credit Union |
| Aug 1, 2020 | Shamrock Foods Federal Credit Union | Sunwest Federal Credit Union |
| Jul 31, 2020 | Mid East Tennessee Community Credit Union | ORNL Federal Credit Union |
| Jul 28, 2020 | Buffalo Cooperative Federal Credit Union | Good Neighbors Federal Credit Union |
| Jul 27, 2020 | Victor State Bank | Chelsea Savings Bank |
| Jul 18, 2020 | Bank of Akron | CNB Bank |
| Jul 18, 2020 | Southerntrust Bancshares, Inc | South Porte Financial Inc. |
| Jul 18, 2020 | South Porte Bank | Southerntrust Bank |
| Jul 15, 2020 | C and N W Proviso Credit Union | Encurage Financial Network |
| Jul 13, 2020 | SBB Bancshares, Inc. | Piper Holdings, Inc. |
| Jul 13, 2020 | State Bank of Burnettsville | The Fountain Trust Company |
| Jul 11, 2020 | MSB Financial Corp | Kearny Financial Corp. |
| Jul 11, 2020 | Millington Bank | Kearny Bank |
| Jul 7, 2020 | USNY Bank | Wayne Bank |
| Jul 7, 2020 | Upstate New York Bancorp, Inc. | Norwood Financial Corp. |
| Jul 4, 2020 | First State Bank of Claremont | Dacotah Bank |
| Jul 2, 2020 | Centennial Bank | Happy State Bank |
| Jul 2, 2020 | VSB Bancorp, Inc. | Northfield Bancorp, Inc. |
| Jul 2, 2020 | Victory State Bank | Northfield Bank |
| Jul 2, 2020 | Iberiabank Corporation | First Horizon Corporation |
| Jul 2, 2020 | Iberiabank | First Horizon Bank |
| Jul 1, 2020 | First Brundidge Bancshares, Inc. | Henderson Bancshares, Inc. |
| Jul 1, 2020 | Covenant Financial Inc. | Citizens & Northern Corporation |
| Jul 1, 2020 | Three Shores Bancorporation, Inc. | United Community Banks, Inc. |
| Jul 1, 2020 | Covenant Bank | Citizens & Northern Bank |
| Jul 1, 2020 | Seaside National Bank & Trust | United Community Bank |
| Jul 1, 2020 | Traders & Farmers Bancshares, Inc. | BankFirst Capital Corporation |
| Jul 1, 2020 | Community Shores Bank Corporation | ChoiceOne Financial Services, Inc. |
| Jul 1, 2020 | Commerce Bancshares, Inc. | Centennial Bank |
| Jul 1, 2020 | FCB Corporation | Capstar Financial Holdings, Inc. |
| Jul 1, 2020 | West York Area School District Employees Federal Credit Union | First Capital Federal Credit Union |
| Jul 1, 2020 | Fluke Employees Federal Credit Union | Sound Credit Union |
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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