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 |
|---|---|---|
| Feb 1, 2020 | Community Financial Holding Company, Inc. | First-Citizens Bank & Trust Company |
| Feb 1, 2020 | First National London Bankshares Corporation | Commercial Bancgroup, Inc. |
| Feb 1, 2020 | Northern Eagle Federal Credit Union | Embarrass Vermillion Federal Credit Union |
| Jan 31, 2020 | Beartooth Financial Corporation | Bravera Holdings Corp. |
| Jan 29, 2020 | River Trace Federal Credit Union | Call Federal Credit Union |
| Jan 25, 2020 | NBW Bank | National Exchange Bank and Trust |
| Jan 25, 2020 | Ohio Valley Bancorp, Inc. | Field & Main Bancorp, Inc. |
| Jan 25, 2020 | First State Bank of Mobeetie | Happy State Bank |
| Jan 24, 2020 | Wilmington Trust Corporation | M&T Bank Corporation |
| Jan 23, 2020 | WT Investments, Inc. | Wilmington Trust Corporation |
| Jan 22, 2020 | The Commerce Bank | Indiana Members Credit Union |
| Jan 18, 2020 | Citizens Bank | The Cecilian Bank |
| Jan 18, 2020 | Hartland Financial, Inc. | First Cecilian Bancorp, Inc. |
| Jan 18, 2020 | Arkansas Democrat-Gazette Federal Credit Union | Arkansas Federal Credit Union |
| Jan 15, 2020 | Citizens State Bank of Glenville | Produce State Bank |
| Jan 11, 2020 | Frederick County Bank | ACNB Bank |
| Jan 11, 2020 | Pacific Global Bank | Royal Business Bank |
| Jan 11, 2020 | South Central Bank, N.A. | Verve a Credit Union |
| Jan 11, 2020 | PGB Holdings, Inc. | RBB Bancorp |
| Jan 11, 2020 | Affinity Bank | Affinity Bank, National Association |
| Jan 11, 2020 | Abb Financial Group, Inc. | Community First Bancshares, Inc. |
| Jan 11, 2020 | Frederick County Bancorp, Inc. | ACNB Corporation |
| Jan 10, 2020 | Perry Investment Company | Greene Investment Co. |
| Jan 7, 2020 | Maple Leaf Financial, Inc. | Farmers National Banc Corp. |
| Jan 7, 2020 | Geauga Savings Bank | The Farmers National Bank of Canfield |
| Jan 4, 2020 | Prairie Star Bancshares, Inc. | CCB Financial Corporation |
| Jan 3, 2020 | Ann Arbor Bancorp, Inc. | Level One Bancorp, Inc. |
| Jan 3, 2020 | Ann Arbor State Bank | Level One Bank |
| Jan 2, 2020 | Erie T.P.E. Federal Credit Union | Americo Federal Credit Union |
| Jan 2, 2020 | The Bank & Trust of Bryan/College Station | First Financial Bank |
| Jan 2, 2020 | Bank of New Jersey | ConnectOne Bank |
| Jan 2, 2020 | Bancorp of New Jersey, Inc. | ConnectOne Bancorp, Inc. |
| Jan 2, 2020 | TB&T Bancshares, Inc. | First Financial Bankshares, Inc. |
| Jan 1, 2020 | Crescent Credit Union | Sharon & Crescent United Credit Union |
| Jan 1, 2020 | First Legacy Community Credit Union | Self-Help Credit Union |
| Jan 1, 2020 | First Neodesha Bank | Bank of Commerce |
| Jan 1, 2020 | Union Pacific California Employees Federal Credit Union | Pacific Transportation Federal Credit Union |
| Jan 1, 2020 | Union Bank of Sparta | River Bank |
| Jan 1, 2020 | Pressers Union Local 12 Ilgw Credit Union | Somerville Municipal Federal Credit Union |
| Jan 1, 2020 | Carolina Trust Bancshares, Inc. | Carolina Financial Corporation |
| Jan 1, 2020 | Heritage Bancorp, Inc. | Third Coast Bancshares, Inc. |
| Jan 1, 2020 | Two River Bancorp | OceanFirst Financial Corp. |
| Jan 1, 2020 | Cornerstone Financial Services, Inc. | Summit Community Bank, Inc |
| Jan 1, 2020 | Tennessee Community Bank Holdings, Inc. | Reliant Bancorp, Inc. |
| Jan 1, 2020 | Country Bank Holding Company, Inc. | OceanFirst Financial Corp. |
| Jan 1, 2020 | Carolina Trust Bank | CresCom Bank |
| Jan 1, 2020 | Two River Community Bank | OceanFirst Bank, N.A. |
| Jan 1, 2020 | Community Bank & Trust | Reliant Bank |
| Jan 1, 2020 | Clarkston State Bank | Waterford Bank, N.A. |
| Jan 1, 2020 | Clarkston Financial Corporation | Waterford Bancorp, 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 |
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