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
May 23, 1988	American Merchant Bank	CA	Eldorado Bank
May 21, 1988	The First State Bank of Gage	OK	Oklahoma State Bank
May 21, 1988	The First National Bank of Tama County	IA	Magna Bank, National Association
May 21, 1988	The Security Bank	MS	Deposit Guaranty National Bank
May 20, 1988	Commonwealth Bank - Lamar, National Association	TX	Commomwealth Bank
May 20, 1988	Wabanc, Inc.	IN	Norwest Indiana, Inc.
May 20, 1988	Bethalto Mercantile Bank, National Association	IL	Mercantile Bank of Illinois
May 20, 1988	Union Savings and Loan Association	AZ	Primerit Bank, Federal Savings Bank
May 19, 1988	Lamar Savings Association	TX	Southwest Federal Savings Association
May 19, 1988	Food Processors Credut Union	PA	Ufcw Local 1776 Federal Credit Union
May 19, 1988	The American State Bank	SD	First Dakota National Bank
May 18, 1988	Standard Savings and Loan Association	VA	Chevy Chase Bank, Federal Savings Bank
May 18, 1988	Utica Fire Department Federal Credit Union	NY	G.P.O. Federal Credit Union
May 16, 1988	The Jipson-Carter State Bank	MI	Society Bank, Lenawee
May 15, 1988	Barkers Federal Credit Union	CA	La Financial Federal Credit Union
May 14, 1988	Interfirst Bank Delaware	DE	First Republicbank Delaware
May 14, 1988	Valley Bank of Reedsville	WI	M&I Bank Northeast
May 14, 1988	Springfield Commercial Bank	FL	(unnamed)
May 14, 1988	(unnamed)	—	M&I Bank Northeast
May 14, 1988	Lynn Haven Commercial Bank	FL	(unnamed)
May 14, 1988	Bank of Viola	IL	Farmers State Bank of Western Illinois
May 14, 1988	The First Community Bank and Trust	IA	Magna Bank, National Association
May 14, 1988	Valley Bank of Seymour	WI	M&I Bank Northeast
May 14, 1988	Brehm Federal Savings Bank	MD	Second National Federal Savings Association
May 14, 1988	Valley Bank of Casco	WI	M&I Bank Northeast
May 14, 1988	The Dept of Youth Services Employees Credit Union	OH	Bridge Credit Union Inc.
May 14, 1988	Valley Badger Bank	WI	M&I Bank Northeast
May 12, 1988	First RepublicBank Preston North, National Association	TX	First Republicbank Plano N.A.
May 12, 1988	Northeast Teachers Vea Credit Union	VT	Northern Lights Credit Union
May 11, 1988	V W Federal Credit Union	PA	Usx Federal Credit Union
May 10, 1988	Veeder Root Employees Credit Union	CT	Hartford Federal Credit Union
May 10, 1988	Middlesex County College Federal Credit Union	NJ	Pinnacle Federal Credit Union
May 9, 1988	Solon Community Credit Union	IA	Greenstate Credit Union
May 9, 1988	B C Watertown Div Employees Federal Credit Union	NY	Northern Credit Union
May 9, 1988	First Midwest Bank/Illinois, National Association	IL	First Midwest Bank
May 7, 1988	The First Jersey National Bank/West	NJ	National Westminster Bank USA
May 7, 1988	Bank of the South	AL	Banksouth
May 7, 1988	Aurora Security Pacific Industrial Bank	CO	Security Pacific Financial Corp. (Iowa)
May 6, 1988	Mission Bank	CA	Riverside National Bank
May 5, 1988	(unnamed)	—	National Bank of Southern California
May 3, 1988	Pottstown Mercury Federal Credit Union	PA	Tri County Area Federal Credit Union
May 3, 1988	First Bank and Trust Co. of Williamson County	IL	Mercantile Bank of Illinois
May 2, 1988	(unnamed)	—	Bellingham Bank
May 2, 1988	Marine American National Bank	IL	Bank One, Champaign-Urbana
May 2, 1988	City Bank of Carbondale	IL	The City National Bank
May 2, 1988	Immaculate Conception of New Bedford Federal Credit Union	MA	First Citizens Federal Credit Union
May 1, 1988	Cardinal Savings Bank	NC	United Federal Savings Bank
May 1, 1988	Centerbanc Sa	FL	American Savings of Florida, F.S.B.
May 1, 1988	Hanford Municipal Employees Credit Union	CA	Kings Federal Credit Union
May 1, 1988	Sheet Metal Workers Local 16 Federal Credit Union	OR	Ibew & United Workers Federal Credit Union

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.

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