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 |
|---|---|---|
| Mar 12, 1988 | Franklin First National Corporation | First Union Corporation of Virginia |
| Mar 12, 1988 | First Federated SVG BK | Statesman Federal Savings Bank |
| Mar 12, 1988 | Trustcorp Company | Society Bank & Trust |
| Mar 12, 1988 | The Perpetual Savings and Loan Association | Statesman Federal Savings Bank |
| Mar 12, 1988 | First Federal Savings Bank of Iowa | Statesman Federal Savings Bank |
| Mar 11, 1988 | South Shore National Bank | Moody National Bank |
| Mar 11, 1988 | Liberty Frost Bank, National Association | Frost Bank |
| Mar 11, 1988 | Triangle Club Credit Union | Advanz Federal Credit Union |
| Mar 11, 1988 | Shawmut Bank of Cape Cod, National Association | Shawmut Bank of Southeastern Massachusetts, National Association |
| Mar 11, 1988 | Texas American Bank/Westlake, National Association | Texas American Bank/austin |
| Mar 11, 1988 | Berkshire Bank & Trust Company | Bank of New England - West, National Association |
| Mar 10, 1988 | Hayesville Bancshares, Inc. | Bank Iowa Corporation |
| Mar 10, 1988 | 372 Credit Union | Metropolitan L Federal Credit Union |
| Mar 8, 1988 | NCNB Financial Services Inc | Bank of America Corporation |
| Mar 5, 1988 | Marine S&LA | Fortune Bank a Savings Bank |
| Mar 5, 1988 | Dupo State Savings Bank | (unnamed) |
| Mar 5, 1988 | Bank of Cahokia | (unnamed) |
| Mar 4, 1988 | MBank San Antonio South, National Association | Mbank Alamo, N.A. |
| Mar 4, 1988 | Colonial Frost Bank, National Association | Frost Bank |
| Mar 4, 1988 | MBank San Antonio North, National Association | Mbank Alamo, N.A. |
| Mar 4, 1988 | Miller Printing Equipment Federal Credit Union | Tri-Valley Services Federal Credit Union |
| Mar 2, 1988 | Louisiana Association for the Blind Federal Credit Union | Wesla Federal Credit Union |
| Mar 2, 1988 | SMW Local 361 Federal Credit Union | Wesla Federal Credit Union |
| Mar 2, 1988 | N P H Federal Credit Union | Wesla Federal Credit Union |
| Mar 2, 1988 | Toledo Stamping Employees Federal Credit Union | Maumee Valley Credit Union |
| Mar 1, 1988 | First Union Corporation of Florida | First Union Corporation of Florida |
| Mar 1, 1988 | First Paullina Bancorp | American Interstate Bancorporation, Inc. |
| Mar 1, 1988 | First Roane County Bancorp, Inc. | First American Corporation |
| Mar 1, 1988 | Capital Federal Savings and Loan Association | San Francisco Federal Savings and Loan Association |
| Mar 1, 1988 | Union Credit Union | Frontier Financial Credit Union |
| Mar 1, 1988 | N B Memorial Hospital Employees Credit Union | Achieve Financial Credit Union |
| Mar 1, 1988 | Reiss Credit Union | Sheboygan Area Credit Union |
| Mar 1, 1988 | Old Kent Bank of Grand Blanc | Old Kent Bank-Central |
| Mar 1, 1988 | Casper Natrona Employees Federal Credit Union | Western Vista Federal Credit Union |
| Mar 1, 1988 | United FSB | First Federal Bank, F.S.B. |
| Mar 1, 1988 | Bud South Branch Credit Union | Archer Heights Credit Union |
| Mar 1, 1988 | Bridgeport Affiliated Federal Credit Union | Western Connecticut Federal Credit Union |
| Mar 1, 1988 | Traders Bank and Trust Company | Traditional Bank, Inc. |
| Mar 1, 1988 | L L P Federal Credit Union | Alero Financial Credit Union |
| Mar 1, 1988 | Millers Empl Sa Cu | Knoxville Tva Employees Credit Union |
| Mar 1, 1988 | Toof Employees Federal Credit Union | Southern Security Federal Credit Union |
| Mar 1, 1988 | First of America Bank - Sault Ste. Marie, National Association | First of America Bank - Northern Michigan |
| Mar 1, 1988 | Brookfield-Metro Community Credit Union | Landmark Credit Union |
| Mar 1, 1988 | Elmora Savings and Loan Association | Spencer Savings Bank, Savings and Loan Association |
| Mar 1, 1988 | H&C Credit Union | Members Credit Union |
| Mar 1, 1988 | The Chase Manhattan Trust Company of Florida, National Association | Chase Manhattan Private Bank, N.A. |
| Mar 1, 1988 | Bank One, Alliance, National Association | Bank One, Akron, National Association |
| Feb 29, 1988 | Grossman Employees Federal Credit Union | Tremont Credit Union |
| Feb 29, 1988 | Siemand-Allis Empl Cu | Members Exchange Federal Credit Union |
| Feb 29, 1988 | Consolidated Hospital Credit Union | Summit 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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