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

Credit unions merged

NIC, credit unions as the acquired side

132

Holding companies

Bank holding companies merged

1,275

All merger records

1988 in US banking ›

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	State	Assets	Acquirer
Dec 31, 1988	Tracy-Collins Bank and Trust Company	UT	—	U.S. Bank of Utah
Dec 31, 1988	United Federal Savings & Loan Association	SD	—	Home Federal Bank
Dec 31, 1988	Peoples Exchange Bank	WI	—	Valley Bank, Menomonie
Dec 31, 1988	Valley Bank and Trust Company	WV	—	(unnamed)
Dec 31, 1988	South FL SVG FS&LA	FL	—	Southeast Bank for Savings, A FSB
Dec 31, 1988	Premier Bank - Acadiana, National Association	LA	—	Bank One, Louisiana, National Association
Dec 31, 1988	Citizens State Bank of Green Isle	MN	—	MidAmerica Bank Chaska
Dec 31, 1988	Peoples Safe Deposit Bank, Saint Clair	PA	—	Community Banks, National Association
Dec 31, 1988	The First National Bank of Peckville	PA	—	PNC Bank, Northeast PA
Dec 31, 1988	The Pen Argyl National Bank	PA	—	Lafayette Ambassador Bank
Dec 31, 1988	First Federal Savings and Loan Association of Elgin	IL	—	First Federal of Elgin, F.S.A.
Dec 31, 1988	Peoples Bank	PA	—	Community Banks, National Association
Dec 31, 1988	Colorado Springs Security Pacific Industrial Bank	CO	—	Security Pacific Finance System Incorporated
Dec 31, 1988	The Premier Bank of South Louisiana	LA	—	Bank One, Louisiana, National Association
Dec 31, 1988	Farmers State Bank	KS	—	First Kansas Bank

Biggest bank failures by assets ›

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	State	Acquirer
Jun 30, 1988	Financial Management Corp.	WV	One Valley Bancorp, Inc.
Jun 29, 1988	Baden Ormond Federal Credit Union	NY	Advantage Federal Credit Union
Jun 28, 1988	Ridgeway Savings and Loan Association	MD	Concord Savings Bank, Federal Savings Bank
Jun 28, 1988	Tuscola Bancorp, Inc.	IL	First Mid Bancshares, Inc.
Jun 27, 1988	Windsor Bank and Trust Company	CT	New England Bank and Trust Company
Jun 26, 1988	Northern Trust Bank/Naperville	IL	Northern Trust Bank/DuPage
Jun 25, 1988	Summit Bank of Kendallville	IN	Summit Bank
Jun 25, 1988	Merchants and Planters Corporation	TN	First Union Corporation of Virginia
Jun 25, 1988	Norstar Bank of Callicoon, National Association	NY	Fleet Bank
Jun 25, 1988	United Illinois Bank of Troy	IL	United Illinois Bank of Collinsville
Jun 24, 1988	The First National Bank	FL	AmSouth Bank of Florida
Jun 24, 1988	Citizens Union Corporation	TN	First Union Corporation of Virginia
Jun 22, 1988	Belco Employees Credit Union	NJ	Garden Savings Federal Credit Union
Jun 21, 1988	Woodworkers Federal Credit Union	ME	Oxford Federal Credit Union
Jun 20, 1988	The Central National Bank - West	TX	The Central National Bank of San Angelo
Jun 20, 1988	Central National Bank-North	TX	The Central National Bank of San Angelo
Jun 20, 1988	(unnamed)	—	Community Bank of Greater Peoria
Jun 20, 1988	Northwest Community Bank of Peoria	IL	Community Bank of Greater Peoria
Jun 19, 1988	Tower Federal Savings and Loan Association	IN	Standard Federal Bank
Jun 18, 1988	(unnamed)	—	Regions Bank
Jun 17, 1988	The Stillman Bank of Rochelle	IL	Stillman Banccorp, N.A.
Jun 17, 1988	Haven FS&LA	FL	Haven Savings and Loan Association, Federal Association
Jun 15, 1988	S V Bassick Employees Federal Credit Union	IL	Peoples Community Credit Union
Jun 14, 1988	Saint Elizabeth Parish Credit Union, Inc.	OH	Trupartner Credit Union, Inc.
Jun 13, 1988	Lisle Bancorporation, Inc.	IL	RBS Capital (USA) Inc.
Jun 11, 1988	The First National Bank of Clarksville	TN	First Union National Bank of Tennessee
Jun 11, 1988	United Bank of Arizona	AZ	Citibank (Arizona)
Jun 10, 1988	First National Bank of Destin	FL	AmSouth Bank of Florida
Jun 10, 1988	Duquesne School Employees Credit Union	PA	Alcose Credit Union
Jun 10, 1988	Framingham Trust Company	MA	Fleet National Bank of Massachusetts
Jun 10, 1988	MBank Pasadena, National Association	TX	Mbank Houston, N.A.
Jun 9, 1988	Andrew Financial Corp.	IA	First Dubuque Corp.
Jun 6, 1988	Capital One Corp.	WI	U.S. Bancorp
Jun 6, 1988	Bank IV Charter, National Association	KS	Bank IV, National Association
Jun 6, 1988	Wynnewood Bank	TX	Continental Bank
Jun 6, 1988	The Brown Deer Bank	WI	First Bank (National Association)
Jun 6, 1988	Arrow S Credit Union	IL	Southern Illinois Area Credit Union
Jun 4, 1988	Saint Matthew's Credit Union	MI	Credit Union One
Jun 4, 1988	The First Jersey National Bank/Fort Lee	NJ	National Westminster Bank USA
Jun 3, 1988	Community Savings Bank	MA	Heritage Bank for Savings
Jun 3, 1988	R P E Federal Credit Union	IL	Metropolitan L Federal Credit Union
Jun 2, 1988	Metropolitan National Bank - Richardson	TX	Metropolitan National Bank
Jun 2, 1988	Metropolitan National Bank-Lewisville	TX	Metropolitan National Bank
Jun 2, 1988	Saint Louis Federal Credit Union	VA	Belvoir Federal Credit Union
Jun 2, 1988	Bonnie Federal Credit Union	VA	Chartway Federal Credit Union
Jun 2, 1988	The Citizens National Bank of Greencastle	PA	Citizens Bank of Southern Pennsylvania
Jun 2, 1988	New River Division Federal Credit Union	WV	Member One Federal Credit Union
Jun 1, 1988	Old Kent Bank of Three Rivers	MI	Old Kent Bank-Southwest
Jun 1, 1988	First American National Bancorp	IN	Banc One Indiana Corporation
Jun 1, 1988	Rose Holding Co.	MN	Firstar Corporation of Minnesota

Bank mergers by year

← 1987 · 1989 →

Year	Merger records
2026	360
2025	433
2024	314
2023	363
2022	432
2021	437
2020	437
2019	547
2018	643
2017	608
2016	655
2015	766

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.

Explore: all mergers · 1988 bank events · browse by acquirer · bank failures · all events