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 1, 1988 | Independent Bank - Balch Springs, National Association | Independent Bank N.A. |
| Apr 1, 1988 | First Oak Brook Bank/DuPage | Oak Brook Bank |
| Apr 1, 1988 | First State Bank | Farmers State Bank |
| Apr 1, 1988 | The Farmers' Bank and Trust Company of Hummelstown | Dauphin Deposit Bank and Trust Company |
| Apr 1, 1988 | Midlantic National Bank/Union Trust | Midlantic National Bank/South |
| Apr 1, 1988 | South Saint Paul Federal Employees Credit Union | Ideal Credit Union |
| Apr 1, 1988 | Lincoln Employees Credit Union | Apex Financial Credit Union |
| Apr 1, 1988 | Norwest Bank Ely, National Association | Norwest Bank Minnesota Mesabi, National Association |
| Mar 31, 1988 | Spin Federal Credit Union | LBS Financial Credit Union |
| Mar 31, 1988 | Labelle Bancshares, Inc. | T & C Bancorp, Inc. |
| Mar 31, 1988 | Great River Bancshares, Inc. | T & C Bancorp, Inc. |
| Mar 31, 1988 | Stewart County Bancorp, Inc. | Northern of Tennessee Corp |
| Mar 31, 1988 | C & H Bancorp | Fifth Third Bancorp |
| Mar 31, 1988 | Hoyleton State and Savings Bank | Magna Bank of Southern Illinois |
| Mar 31, 1988 | North Georgia Bank | Wachovia Bank of Georgia, National Association |
| Mar 31, 1988 | The First State Bank of Centralia | Magna Bank of Southern Illinois |
| Mar 31, 1988 | (unnamed) | Centerre Bank of Kansas City National Association |
| Mar 31, 1988 | North Bend Savings and Loan Association | Vista Federal Savings Association |
| Mar 31, 1988 | West Branch Employees Federal Credit Union | Associated School Employees Credit Union, Inc. |
| Mar 31, 1988 | RMMTB Credit Union | Rio Grande Operating Credit Union |
| Mar 31, 1988 | Ashley State Bank | Magna Bank of Southern Illinois |
| Mar 30, 1988 | Second National Corporation | Citizens Republic Bancorp, Inc. |
| Mar 30, 1988 | Trails End Credit Union | Marine Credit Union |
| Mar 28, 1988 | Advance-United Employees Credit Union | Financial One Credit Union |
| Mar 28, 1988 | Merchants & Southern Bank of Ocala | Merchants & Southern Bank |
| Mar 26, 1988 | First Trust Company of Florida, National Association | Bank of Boston-Florida N.A. |
| Mar 26, 1988 | Southern States Empl Credit Union | Savannah Postal Credit Union |
| Mar 26, 1988 | First Federal Savings and Loan Association of Livingston County | D&N Bank |
| Mar 26, 1988 | Mosler/airmatic Employees Federal Credit Union | North Jersey Federal Credit Union |
| Mar 25, 1988 | Strafco Employees Federal Credit Union | Credit Human Federal Credit Union |
| Mar 25, 1988 | (unnamed) | Firstar Bank Missouri, National Association |
| Mar 23, 1988 | Saint Mary's Mentor Credit Union, Inc. | Cardinal Credit Union, Inc. |
| Mar 22, 1988 | American Southwest Bancshares, Inc. | Sunwest Acquisition Corporation |
| Mar 21, 1988 | Ridglea National Bank | Overton Bank and Trust, National Association |
| Mar 21, 1988 | Northern Trust Bank/Woodfield | Northern Trust Bank/O'Hare National Association |
| Mar 19, 1988 | Shawmut Home Bank | Fleet National Bank |
| Mar 19, 1988 | Shawmut Fidelity Bank | Fleet National Bank |
| Mar 18, 1988 | (unnamed) | Mbank Jefferson County N.A. |
| Mar 18, 1988 | Citizens Frost Bank, National Association | Frost Bank |
| Mar 18, 1988 | First Indiana Bank, National Association | Liberty National Bank and Trust Company of Indiana |
| Mar 16, 1988 | Community Financial Corporation | CCNB Corporation |
| Mar 16, 1988 | Community National Bank of Southern Pennsylvania | The Gettysburg National Bank |
| Mar 15, 1988 | Ashland Kentucky Federal Employees Credit Union, Inc. | Lexington Postal Community Credit Union |
| Mar 15, 1988 | Valdosta City Empl Fcu | Southeastern Credit Union |
| Mar 15, 1988 | North Georgia Bancshares, Inc. | Wachovia Corporation |
| Mar 14, 1988 | Uniontown Savings and Loan Association | Atlantic Financial Savings, F.A. |
| Mar 14, 1988 | Land of Lincoln Bank | The First National Bank of Central Illinois |
| Mar 12, 1988 | Trustcorp Company, Dayton | Society Bank & Trust |
| Mar 12, 1988 | First Federal Savings and Loan Association | Security Trust Federal Savings and Loan Association |
| Mar 12, 1988 | Peoples Federal Savings and Loan Assocaition | Statesman Federal Savings 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.
Explore: all mergers · 1988 bank events · browse by acquirer · bank failures · all events