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 |
|---|---|---|
| Apr 30, 1988 | R M a Federal Credit Union | Space Age Credit Union |
| Apr 30, 1988 | First National Bank of Willmar | First Bank Central, National Association |
| Apr 30, 1988 | The First National Bank of Cloquet | First Bank North, National Association |
| Apr 30, 1988 | First RepublicBank North Austin, National Association | First Republicbank Austin N.A. |
| Apr 30, 1988 | First RepublicBank NW Austin, National Association | First Republicbank Austin N.A. |
| Apr 30, 1988 | Truman S&LA | Encore Bank, National Association |
| Apr 30, 1988 | First RepublicBank Alamo Heights, National Association | First Republicbank San Antonio, N.A. |
| Apr 30, 1988 | First RepublicBank Northern Hills | First Republicbank San Antonio, N.A. |
| Apr 30, 1988 | First RepublicBank South Austin | First Republicbank Austin N.A. |
| Apr 29, 1988 | Peoples National Bancorp, Inc. | First Union Corporation of Virginia |
| Apr 29, 1988 | B.S.H.C.P. Corporation | KBT Bancshares, Inc. |
| Apr 25, 1988 | Bank of Atkinson, National Association | The Farmers National Bank of Geneseo |
| Apr 25, 1988 | Popular Credit Union | Metro Credit Union |
| Apr 23, 1988 | Freeburg Bancorp, Inc. | Magna Bank of Freeburg |
| Apr 23, 1988 | First of America Bank-Menominee | First of America Bank-Upper Peninsula, National Association |
| Apr 21, 1988 | Boatmen's Bank of Clinton | Hawthorn Bank |
| Apr 18, 1988 | Martinsville State Bank | AmBank Illinois |
| Apr 16, 1988 | Parkersburg Industrial Banking Corporation | One Valley Bank, National Association |
| Apr 16, 1988 | Tualatin Valley Bank | First Security Bank of Oregon |
| Apr 16, 1988 | First National Bank of Springfield | First Union National Bank of Tennessee |
| Apr 15, 1988 | South Dakota Retailers Association Federal Credit Union | Oahe Federal Credit Union |
| Apr 14, 1988 | First National Bank of Dumas | Sun Bank |
| Apr 13, 1988 | Citizens Savings and Loan Company | One Valley Bank - North, Inc. |
| Apr 13, 1988 | Valley FS&LA of Erwin | Home Federal Bank, FSB |
| Apr 12, 1988 | Prudential Bank, FSB | Pacific First Bank, a Federal Savings Bank Washington |
| Apr 12, 1988 | Oki Credit Union, Inc. | Trupartner Credit Union, Inc. |
| Apr 12, 1988 | Citizens Savings and Loan Association | Lemont Federal Savings Association |
| Apr 9, 1988 | P.S.A. Employees Federal Credit Union | Clearview Federal Credit Union |
| Apr 9, 1988 | Tri-Cities Savings and Loan Association | Sterling Savings Bank |
| Apr 9, 1988 | The Choctaw Bank of Butler | Regions Bank |
| Apr 8, 1988 | Bank of Cape Cod | Bank of New England-South, National Association |
| Apr 8, 1988 | Roswell Park Federal Credit Union | Morton Lane Federal Credit Union |
| Apr 6, 1988 | Parker Employees Credit Union | Manatrol Division Employees Credit Union, Inc. |
| Apr 6, 1988 | Northwestern State Bank of Appleton | Prairie Sun Bank |
| Apr 5, 1988 | First Central Bank | California Federal Bank, a Federal Savings Bank |
| Apr 4, 1988 | Berol Corporation Employees Credit Union | Albright Credit Union |
| Apr 4, 1988 | Saint Mary's Hospital of Troy Federal Credit Union | Hudson River Community Credit Union |
| Apr 4, 1988 | First Chicago Bank of Arlington Heights | The First Chicago Bank of Mount Prospect |
| Apr 2, 1988 | Geg Federal Credit Union | Celco Federal Credit Union |
| Apr 2, 1988 | Greyhound New York Federal Credit Union | Bethex Federal Credit Union |
| Apr 2, 1988 | Anchor Employees Federal Credit Union | Harrison County Federal Credit Union |
| Apr 2, 1988 | Charter National Bank | (unnamed) |
| Apr 2, 1988 | (unnamed) | First Security Bank of California, N.A. |
| Apr 2, 1988 | Gulf Coast Holding Corp. | Amsouth Bancorporation |
| Apr 2, 1988 | Gulf First Holding Corporation | Amsouth Bancorporation |
| Apr 2, 1988 | Romemba Federal Credit Union | Fedstar Federal Credit Union |
| Apr 1, 1988 | The Bank of Cresbard | Dacotah Bank |
| Apr 1, 1988 | First Midwest Bank/Knox County, National Association | (unnamed) |
| Apr 1, 1988 | The Security State Bank | Security First Bank |
| Apr 1, 1988 | Shell Portland Credit Union | Trailhead 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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