Mergers by Year
Bank Mergers in 1988
The Federal Reserve's National Information Center (NIC) recorded 1,275 merger records involving a bank, credit union or bank holding company in 1988. 693 had a bank as the acquired institution. Many acquired parties in this period are not classified as banks, credit unions or holding companies, so the bank count understates the year; the full list is below. NIC recorded 1,196 in 1987.
693
Banks acquired
3 bought by a credit union
0
Credit unions merged
NIC, credit unions as the acquired side
132
Holding companies
Bank holding companies merged
Largest bank mergers of 1988
Ranked by the acquired bank's total assets at its last call report before the effective date.
| Effective | Acquired bank | Assets | Acquirer |
|---|---|---|---|
| Dec 31, 1988 | Tracy-Collins Bank and Trust Company | — | U.S. Bank of Utah |
| Dec 31, 1988 | United Federal Savings & Loan Association | — | Home Federal Bank |
| Dec 31, 1988 | Peoples Exchange Bank | — | Valley Bank, Menomonie |
| Dec 31, 1988 | Valley Bank and Trust Company | — | (unnamed) |
| Dec 31, 1988 | South FL SVG FS&LA | — | Southeast Bank for Savings, A FSB |
| Dec 31, 1988 | Premier Bank - Acadiana, National Association | — | Bank One, Louisiana, National Association |
| Dec 31, 1988 | Citizens State Bank of Green Isle | — | MidAmerica Bank Chaska |
| Dec 31, 1988 | Peoples Safe Deposit Bank, Saint Clair | — | Community Banks, National Association |
| Dec 31, 1988 | The First National Bank of Peckville | — | PNC Bank, Northeast PA |
| Dec 31, 1988 | The Pen Argyl National Bank | — | Lafayette Ambassador Bank |
| Dec 31, 1988 | First Federal Savings and Loan Association of Elgin | — | First Federal of Elgin, F.S.A. |
| Dec 31, 1988 | Peoples Bank | — | Community Banks, National Association |
| Dec 31, 1988 | Colorado Springs Security Pacific Industrial Bank | — | Security Pacific Finance System Incorporated |
| Dec 31, 1988 | The Premier Bank of South Louisiana | — | Bank One, Louisiana, National Association |
| Dec 31, 1988 | Farmers State Bank | — | First Kansas Bank |
Every merger recorded in 1988
1,275 NIC merger records in 1988 involve a bank, credit union or bank holding company on at least one side, newest first.
| Date | Acquired institution | Acquirer |
|---|---|---|
| Aug 1, 1988 | Delray Beach City Employees Credit Union | Guardians Credit Union |
| Aug 1, 1988 | (unnamed) | United Trust Bank |
| Aug 1, 1988 | National Safety Council Staff Credit Union | Alero Financial Credit Union |
| Aug 1, 1988 | Knights of Pythias-Detroit Lodge 55 Credit Union | Vibe Credit Union |
| Aug 1, 1988 | Neenah Paper Credit Union | Badger-Globe Credit Union |
| Aug 1, 1988 | Co-Lith-Co Credit Union | Louisville Metro Police Officers Credit Union |
| Aug 1, 1988 | Memphis Refinery Employees Federal Credit Union | Southern Security Federal Credit Union |
| Aug 1, 1988 | Nicholls State Bank | Southeastern Bank |
| Aug 1, 1988 | Saint Anthony Parish Credit Union, Inc. | Lormet Community Federal Credit Union |
| Aug 1, 1988 | Commercial National Bank | The Fifth Third Bank of Northwestern Ohio, National Association |
| Aug 1, 1988 | Sherry Lane National Bank | Metropolitan National Bank |
| Aug 1, 1988 | Bank of Oklahoma Grove | BOKF, N.A. |
| Aug 1, 1988 | N.A. of the Deaf Credit Union | Central Credit Union of Maryland |
| Aug 1, 1988 | First State Bank of Wyanet | AMCORE Bank, Princeton |
| Aug 1, 1988 | Bank of Contra Costa | First Interstate Bank of California |
| Aug 1, 1988 | Southern California Floral Association Federal Credit Union | Am Federal Credit Union |
| Aug 1, 1988 | Eas Employees Credit Union | Alliance Credit Union |
| Aug 1, 1988 | Firstbank | FirstBank |
| Aug 1, 1988 | Building Trades Credit Union | Elga Credit Union |
| Aug 1, 1988 | Beverly Savings Bank | Warren Five Cents Savings Bank |
| Aug 1, 1988 | Peoples Bank | First American Bank, Clarksville |
| Aug 1, 1988 | First Southern Bank | First American National Bank |
| Jul 31, 1988 | Columbian Financial Corporation | Columbian Financial Corporation |
| Jul 31, 1988 | CRG Employees Federal Credit Union | Aspire Federal Credit Union |
| Jul 31, 1988 | Topeka Bank Shares, Inc. | Columbian Financial Corporation |
| Jul 30, 1988 | Norwest Bank Albert Lea, National Association | Norwest Bank Minnesota South Central, National Association |
| Jul 30, 1988 | Newco 1 | PB Bancorp of Cedar Rapids, Inc. |
| Jul 30, 1988 | Potomac Bancorp, Inc. | City Financial Bancorp, Inc. |
| Jul 30, 1988 | Norwest Bank Grand Rapids, National Association | Norwest Bank Minnesota North, National Association |
| Jul 30, 1988 | Mutual Savings and Loan Association | River Valley Savings Bank, Federal Savings Bank |
| Jul 30, 1988 | Merit Savings Bank | Charter Savings Bank, FSB |
| Jul 30, 1988 | Nevada County National Bank | The Bank of Commerce, National Association |
| Jul 30, 1988 | The Mitsubishi Bank of California | The Bank of California, National Association |
| Jul 30, 1988 | Valley Bank Monona Grove | Valley Bank |
| Jul 30, 1988 | Valley Bank Middleton | Valley Bank |
| Jul 30, 1988 | Franklin County Ga Fcu | Stephens-Franklin Teachers Federal Credit Union |
| Jul 30, 1988 | United Jersey Bank/Franklin State | United Jersey Bank/Central, National Association |
| Jul 30, 1988 | Norwest Bank Austin, National Association | Norwest Bank Minnesota South Central, National Association |
| Jul 30, 1988 | Republic Savings, A Federal Savings and Loan Association | River Valley Savings Bank |
| Jul 30, 1988 | Saint Margarets Montgomery Fcu | Montgomery Va Federal Credit Union |
| Jul 30, 1988 | Colonial Bank of Granite City | Magna Bank of Madison County |
| Jul 30, 1988 | Norwest Bank Winona, National Association | Norwest Bank Minnesota South, National Association |
| Jul 30, 1988 | Norwest Bank Sauk Rapids, National Association | Norwest Bank Minnesota Central, National Association |
| Jul 30, 1988 | Norwest Bank Two Harbors, National Association | Norwest Bank Minnesota North, National Association |
| Jul 30, 1988 | Valley Bank Brooklyn | Valley Bank |
| Jul 30, 1988 | Norwest Bank Dodge Center | Norwest Bank Minnesota South, National Association |
| Jul 30, 1988 | Galva Federal Savings and Loan Association | River Valley Savings Bank, Federal Savings Bank |
| Jul 30, 1988 | Norwest Bank Litchfield, National Association | Norwest Bank Minnesota Central, National Association |
| Jul 30, 1988 | The First National Bank of Mondovi | Alliance Bank |
| Jul 30, 1988 | Home Federal Savings and Loan Association of Peoria | River Valley Savings Bank, Federal Savings Bank |
Bank mergers by year
Source: Federal Reserve National Information Center (NIC) transformations, type "merger". A record counts when a bank, credit union or bank holding company is on at least one side. NIC also logs internal consolidations, such as a subsidiary bank folded into a sister bank, so a record is not always an arm's-length deal. Asset figures come from FFIEC call reports (banks) and NCUA 5300 call reports (credit unions). Credit union mergers appear in the NIC records from 2013 on.
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