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 |
|---|---|---|---|
| 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 |
Browse adjacent years: 2019 · 2021
Or jump to a category: Failures · Mergers · Enforcement · Assistance