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 |
|---|---|---|
| Jul 29, 1988 | Malone & Hyde Employee Credit Union | Southern Security Federal Credit Union |
| Jul 29, 1988 | Hamilton-Reliance Savings Association | Central Pennsylvania Savings Association, F.A. |
| Jul 29, 1988 | Darman Financial of Wisconsin, Incorporated | F & M Merger Corporation |
| Jul 27, 1988 | Des Moines County Employees Credit Union | Casebine Community Credit Union |
| Jul 26, 1988 | Greater Mount Olive Baptist Cu | Genco Federal Credit Union |
| Jul 25, 1988 | Commerce Savings Scottsbluff Inc. | Gering State Bank and Trust Company |
| Jul 25, 1988 | Butler Bancorp, Inc. | Buerge Bancshares, Inc. |
| Jul 23, 1988 | The Nanticoke National Bank | Guaranty Bank, National Association |
| Jul 23, 1988 | Arlington Heights Bank of Fort Worth | Landmark Bank of Fort Worth |
| Jul 22, 1988 | USBank | NationsBank of Florida, National Association |
| Jul 22, 1988 | NCNB Florida Bancorp Inc | Usbancorp, Inc. |
| Jul 21, 1988 | Electronic Associates Federal Credit Union | First Financial Federal Credit Union |
| Jul 21, 1988 | Leander Community Federal Credit Union | Austin Telco Federal Credit Union |
| Jul 19, 1988 | Mid America Bancshares, Inc. | Fourth Financial Corporation |
| Jul 19, 1988 | CSB Financial Corporation | First Michigan Bank Corporation |
| Jul 16, 1988 | The Randall Bank | The Jamestown State Bank |
| Jul 16, 1988 | Otisco State Bank | Valley Bank |
| Jul 16, 1988 | Oak Forest National Bank | Texas Bank and Trust Company |
| Jul 15, 1988 | (unnamed) | Camino Real Bank, National Association |
| Jul 15, 1988 | Texas Bancorp Shares, Inc. | Caminoreal Bancshares of Texas, Inc. |
| Jul 13, 1988 | First State Bank of Pleasanton | Franklin Federal Savings Association |
| Jul 9, 1988 | Robert Treat Savings and Loan Association | Amerifederal Savings Bank, F.S.B. |
| Jul 9, 1988 | First of America Bank - Vernon Hills | First of America Bank-Illinois, National Association |
| Jul 9, 1988 | Iowa State Bank | State Central Bank |
| Jul 8, 1988 | Key-Sen Federal Credit Union | Glatco Credit Union |
| Jul 7, 1988 | Bank of Ardmore | Citizens Bank |
| Jul 5, 1988 | CVS Credit Union | The Golden 1 Credit Union |
| Jul 5, 1988 | Bank of Hodges | The Palmetto Bank |
| Jul 2, 1988 | Thunderbird Leasing, Inc. | M&I LLC |
| Jul 2, 1988 | Hanover County Employees Credit Union | Virginia Federal Credit Union |
| Jul 2, 1988 | Si Forks Township Empl Fcu | People First Federal Credit Union |
| Jul 2, 1988 | Lebanon Vah Federal Credit Union | Lebanon Federal Credit Union |
| Jul 2, 1988 | Ipm Employees Federal Credit Union | Penntech Employees Federal Credit Union |
| Jul 2, 1988 | Eberhard Faber Employees Federal Credit Union | Earning Tree Federal Credit Union |
| Jul 2, 1988 | Thunderbird Mortgage Corp. | M&I LLC |
| Jul 1, 1988 | Kay-Ell Employees Credit Union, Inc. | Telhio Credit Union, Inc. |
| Jul 1, 1988 | Northern Illinois Credit Union | Heritage Credit Union |
| Jul 1, 1988 | The First American National Bank of Jefferson City | First American National Bank |
| Jul 1, 1988 | New Orleans Bag Cu | Louisiana Central Credit Union |
| Jul 1, 1988 | Billings B North Employees Federal Credit Union | Billings Federal Credit Union |
| Jul 1, 1988 | Bemco Employees Federal Credit Union | A a Federal Credit Union |
| Jul 1, 1988 | Merchants Bank of Miami | First Union National Bank of Florida |
| Jul 1, 1988 | N I P S Company M C Division Federal Credit Union | Northern Indiana Federal Credit Union |
| Jul 1, 1988 | First South FL Fcu | McCoy Federal Credit Union |
| Jul 1, 1988 | Actwu Credit Union | Scranton Downtown Federal Credit Union |
| Jul 1, 1988 | The National Bank of Corry | The First National Bank of Pennsylvania |
| Jul 1, 1988 | Trunkline Empl Cu | Membersource Credit Union |
| Jul 1, 1988 | Harford Road Building Association | Parkville Federal Savings Bank |
| Jul 1, 1988 | MBC Empl Cu | Tennessee Valley Federal Credit Union |
| Jul 1, 1988 | West Virginia Gasoline Dealers Federal Credit Union | Metro Community Federal Credit Union |
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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