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 |
|---|---|---|
| May 23, 2020 | Central Federal Savings and Loan Association of Rolla | Southern Bank |
| May 18, 2020 | Dearborn Savings Bank | FCN Bank, N.A. |
| May 16, 2020 | The First National Bank of Northfield | Merchants Bank, N.A. |
| May 16, 2020 | Delta County Credit Union | Embers Credit Union |
| May 16, 2020 | Tomah Bancshares, Inc. | Bank First Corporation |
| May 16, 2020 | Timberwood Bank | Bank First, N.A. |
| May 16, 2020 | First Citizens Bank of Polson, National Association | Unity Bank |
| May 16, 2020 | Lakestone Bank & Trust | ChoiceOne Bank |
| May 5, 2020 | 1st Equity Bank Northwest | 1st Equity Bank |
| May 5, 2020 | Northwest Equity Corp. | First Equity Corp. |
| May 2, 2020 | CresCom Bank | United Bank |
| May 2, 2020 | Carolina Financial Corporation | United Bankshares, Inc. |
| May 1, 2020 | Local 229 Ibew Federal Credit Union | White Rose Credit Union |
| May 1, 2020 | Habersham Federal Credit Union | Mygeorgia Credit Union |
| May 1, 2020 | Putnam Bank | Centreville Bank |
| May 1, 2020 | Washington Savings Bank | William Penn Bank |
| May 1, 2020 | Webster United Federal Credit Union | Carter Federal Credit Union |
| May 1, 2020 | Saint James Hospital Employees Federal Credit Union | Illiana Financial Credit Union |
| May 1, 2020 | Ben Franklin Bank of Illinois | Alero Financial Credit Union |
| May 1, 2020 | Chesterfield Federal Credit Union | Virginia Federal Credit Union |
| May 1, 2020 | McFarland State Bank | One Community Bank |
| May 1, 2020 | Fidelity Savings & Loan Association of Bucks County | William Penn Bank |
| May 1, 2020 | Fairport Savings Bank | Evans Bank, National Association |
| May 1, 2020 | Merchants Bank of Bangor | Fidelity Bank |
| May 1, 2020 | Local #673 Credit Union, Inc. | L C E Federal Credit Union |
| May 1, 2020 | National Oilwell Varco Employees Credit Union | Membersource Credit Union |
| May 1, 2020 | First Temple Corporation | First State Bank in Temple |
| May 1, 2020 | MNB Corporation | Fidelity D&D Bancorp, Inc. |
| May 1, 2020 | Pedestal Bank | b1BANK |
| May 1, 2020 | Pedestal Bancshares, Inc. | Business First Bancshares, Inc. |
| May 1, 2020 | FSB Bancorp, Inc. | Evans Bancorp, Inc. |
| May 1, 2020 | Saints Avenue Bancshares, Inc. | Saints Avenue Bancshares, Inc. |
| Apr 29, 2020 | Financial 1st Federal Credit Union | Horizon Federal Credit Union |
| Apr 25, 2020 | Mutualfirst Financial, Inc. | Northwest Bancshares Inc |
| Apr 25, 2020 | Bank of the Prairie | Country Club Bank |
| Apr 25, 2020 | MutualBank | Northwest Bank |
| Apr 23, 2020 | Louisville Development Bancorp, Inc. | Liberty Financial Services, Inc. |
| Apr 23, 2020 | Metro Bank | Liberty Bank and Trust Company |
| Apr 18, 2020 | State Bank of Belle Plaine | First National Bank Minnesota |
| Apr 18, 2020 | Midcoast Community Bancorp, Inc | Citizens Financial Services, Inc. |
| Apr 18, 2020 | MidCoast Community Bank | First Citizens Community Bank |
| Apr 18, 2020 | CNB Corp | Northwest Financial Corp. |
| Apr 18, 2020 | Farmers State Bank of Watkins | Citizens Bank Minnesota |
| Apr 18, 2020 | Century Bank | The First National Bank in Creston |
| Apr 16, 2020 | Wells Fargo Limited | Everen Capital Corporation |
| Apr 11, 2020 | First State Bank | First National Bank |
| Apr 11, 2020 | Chico Bancorp, Inc. | Wichita Falls Bancshares, Inc. |
| Apr 8, 2020 | Victory Community Bank | Heartland Bank |
| Apr 4, 2020 | The Missouri Bank II | The Missouri Bank |
| Apr 4, 2020 | Platte Acquisition Corporation | First National Bancor, 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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