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 |
|---|---|---|---|
| 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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