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 |
|---|---|---|
| Mar 1, 2020 | Progressive Financial Group, Inc. | Smartfinancial, Inc. |
| Mar 1, 2020 | MB Bancorp, Inc. | BV Financial, Inc. |
| Mar 1, 2020 | State Bank Corp. | Glacier Bancorp, Inc. |
| Mar 1, 2020 | State Bank of Arizona | Glacier Bank |
| Mar 1, 2020 | Morton Salt Credit Union, Inc. | Greater Wayne Community Federal Credit Union |
| Mar 1, 2020 | Progressive Savings Bank | SmartBank |
| Mar 1, 2020 | Madison Bank of Maryland | Bayvanguard Bank |
| Mar 1, 2020 | Health Facilities Federal Credit Union | South Carolina Federal Credit Union |
| Mar 1, 2020 | AB&W Credit Union Inc. | Commonwealth One Federal Credit Union |
| Mar 1, 2020 | Southwest Kansas Community Credit Union | Credit Union of Dodge City |
| Feb 29, 2020 | Oshkosh Truck Credit Union | Community First Credit Union |
| Feb 29, 2020 | Security Star Bancshares, Inc. | American Momentum Bank |
| Feb 29, 2020 | First American Bank | Greenstate Credit Union |
| Feb 29, 2020 | Security Bank | American Momentum Bank |
| Feb 22, 2020 | Pioneer Bank | First State Bank |
| Feb 22, 2020 | Bolivar Bancshares, Inc | Bolivar Acquisition Corp. |
| Feb 20, 2020 | S.F. Bay Area Educators Credit Union | San Francisco Federal Credit Union |
| Feb 18, 2020 | The Urban Street Biscuit WKRS Federal Credit Union | Western New York Federal Credit Union |
| Feb 15, 2020 | Bank of Cushing | Blue SKY Bank |
| Feb 15, 2020 | Landmark Bank | Simmons Bank |
| Feb 15, 2020 | First Staunton Bancshares, Inc. | Associated Banc-Corp |
| Feb 15, 2020 | FNB Financial Corp. | FB Financial Corporation |
| Feb 15, 2020 | The First National Bank of Pawnee | First Bank & Trust Company |
| Feb 15, 2020 | The First National Bank in Staunton | Associated Bank, N.A. |
| Feb 15, 2020 | First Ipswich Bank | Beacon Bank & Trust |
| Feb 15, 2020 | The Farmers National Bank of Scottsville | FirstBank |
| Feb 14, 2020 | Citizens State Bank - Midwest | Kodabank |
| Feb 14, 2020 | Osborne Investments, Inc. | The Peoples Bankshares Ltd. |
| Feb 14, 2020 | The Farmers Bank of Osborne | The Peoples Bank |
| Feb 8, 2020 | Greater Galilee Baptist Credit Union | Educators Credit Union |
| Feb 6, 2020 | Best Hometown Bancorp, Inc. | First Waterloo Bancshares, Inc. |
| Feb 4, 2020 | Grand Mountain Bank, FSB | United Business Bank |
| Feb 4, 2020 | Grand Mountain Bancshares, Inc. | Baycom Corp |
| Feb 4, 2020 | North Star Financial Holdings, Inc. | Keweenaw Financial Corporation |
| Feb 3, 2020 | City of Ukiah Employees Credit Union | Redwood Credit Union |
| Feb 3, 2020 | Connecticut Federal Credit Union | America's First Network Credit Union |
| Feb 1, 2020 | Home Savings Bank | Premier Bank |
| Feb 1, 2020 | Letourneau Federal Credit Union | East Texas Professional Credit Union |
| Feb 1, 2020 | Yellowstone Federal Credit Union | Meridian Trust Federal Credit Union |
| Feb 1, 2020 | Lakes Community Credit Union | Michigan United Credit Union |
| Feb 1, 2020 | Pueblo Horizons Federal Credit Union | Meritrust Credit Union |
| Feb 1, 2020 | First National Bank and Trust | Commercial Bank |
| Feb 1, 2020 | Mississippi Farm Bureau Employees Federal Credit Union | Keesler Federal Credit Union |
| Feb 1, 2020 | Farmers Deposit Bank of Middleburg, Inc. | The Farmers National Bank of Danville |
| Feb 1, 2020 | Waltham Municipal Employees Credit Union | RTN Federal Credit Union |
| Feb 1, 2020 | Peoples State Bank | South Ottumwa Savings Bank |
| Feb 1, 2020 | Parish Members Credit Union | Cooperative Choice Network Credit Union |
| Feb 1, 2020 | United Community Financial Corporation | Premier Financial Corp. |
| Feb 1, 2020 | Woodco Federal Credit Union | Sun Federal Credit Union |
| Feb 1, 2020 | Gwinnett Community Bank | First-Citizens Bank & Trust Company |
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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