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 1, 1988 | Laconia Peoples National Bank and Trust Company | First Central Bank |
| Jul 1, 1988 | Hiadco Cu | Jetstream Federal Credit Union |
| Jul 1, 1988 | First Morton Bancorp, Inc. | Midwest Financial Group, Inc. |
| Jul 1, 1988 | Rush County National Corporation | Norwest Indiana, Inc. |
| Jul 1, 1988 | Northern of Tennessee Corp | First American Corporation |
| Jul 1, 1988 | South Georgia Area Public Employees Credit Union | Southeastern Credit Union |
| Jul 1, 1988 | Cleveland Bradley County Emp C | Tennessee Valley Federal Credit Union |
| Jul 1, 1988 | (unnamed) | Wells Fargo Bank Arizona, National Association |
| Jul 1, 1988 | Inland Rome Empl Fcu | Coosa Valley Credit Union |
| Jul 1, 1988 | Commercial Bank & Trust Company | First Union National Bank of Florida |
| Jul 1, 1988 | CPC Cu | Members Alliance Federal Credit Union |
| Jul 1, 1988 | San Juan National Bank | The First National Bank of Farmington |
| Jul 1, 1988 | Lincoln County Public Employees Federal Credit Union | TLC Federal Credit Union |
| Jul 1, 1988 | East Indust Empl Cu | Telco Plus Credit Union |
| Jul 1, 1988 | Oregon Pioneer Savings and Loan Association | West One Bank, Oregon S.B. |
| Jul 1, 1988 | BC/BS Ga Fcu | Associated Credit Union |
| Jul 1, 1988 | First National Bank at Salem | One Valley Bank of Clarksburg, National Association |
| Jul 1, 1988 | Bank of Del Mar, National Association | La Jolla Bank & Trust Company |
| Jul 1, 1988 | Saint Clair Specialty Employees Credit Union | Central Credit Union of Illinois |
| Jul 1, 1988 | Bay Line Cu | Tyndall Federal Credit Union |
| Jul 1, 1988 | Royal Orleans Empl Fcu | Onpath Federal Credit Union |
| Jul 1, 1988 | Intel Credit Union | Keypoint Credit Union |
| Jul 1, 1988 | North Alabama Medical Employees Federal Credit Union | Redstone Federal Credit Union |
| Jul 1, 1988 | West Philadelphia Community Federal Credit Union | Philadelphia Federal Credit Union |
| Jul 1, 1988 | Citizens Savings Bank of Browning/Milan | First National Bank of Kirksville |
| Jul 1, 1988 | Medley Federal Credit Union | Owensboro Federal Credit Union |
| Jul 1, 1988 | Hidden Valley Nationl Bank | La Jolla Bank & Trust Company |
| Jul 1, 1988 | New Michaels Permanent Savings and Loan Association | Capital Savings Bank, Federal Savings Bank |
| Jul 1, 1988 | Velva Community Credit Union | Northern Tier Federal Credit Union |
| Jul 1, 1988 | Findorff Employees Credit Union | Summit Credit Union |
| Jul 1, 1988 | Sa BTC Fcu | Local 142 Federal Credit Union |
| Jul 1, 1988 | Alco Gravure Employees Federal Credit Union | Logix Federal Credit Union |
| Jul 1, 1988 | Davy McKee Lakeland Inc Fcu | Trax Federal Credit Union |
| Jul 1, 1988 | Vita Pakt Employees Federal Credit Union | Center City Community Credit Union |
| Jul 1, 1988 | Meredith Bank & Trust | First Central Bank |
| Jul 1, 1988 | Stanford State Bank | Magna Bank of McLean County |
| Jul 1, 1988 | Typographical Credit Union | Sherwin Williams Employees Credit Union |
| Jul 1, 1988 | Circle W Credit Union | Alliance of Maine Federal Credit Union |
| Jul 1, 1988 | Commercial Bank of Kendall | First Union National Bank of Florida |
| Jul 1, 1988 | City County Employees Credit Union | Flagship Community Federal Credit Union |
| Jul 1, 1988 | Manistee Catholic Central Credit Union | Manistee Public Employees Credit Union |
| Jul 1, 1988 | The First National Bank | Star Bank, National Association |
| Jul 1, 1988 | Howmet Hampton Employees Credit Union | Langley Federal Credit Union |
| Jul 1, 1988 | Harley Employees Federal Credit Union | Georgia Heritage Federal Credit Union |
| Jul 1, 1988 | Equipto Employees Credit Union | Earthmover Credit Union |
| Jul 1, 1988 | The Farmers State Bank of Potter | F & M Bank - Hilbert |
| Jul 1, 1988 | Cal-Western Life Employees Credit Union | The Golden 1 Credit Union |
| Jul 1, 1988 | Chiquita Federal Credit Union | Aspire Federal Credit Union |
| Jun 30, 1988 | Diamond Chain Credit Union | Indiana Members Credit Union |
| Jun 30, 1988 | Alliance Mortgage Company | Alliance 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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