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 |
|---|---|---|
| Feb 29, 1988 | Mmi Federal Credit Union | Technology Credit Union |
| Feb 28, 1988 | Central Wisconsin Bankshares, Inc. | M&I LLC |
| Feb 27, 1988 | McKeesport National Bank | Three Rivers Bank and Trust Company |
| Feb 26, 1988 | First National Bank Waupaca | First National Bank |
| Feb 22, 1988 | Chase Continental Bancor, Inc. | Chase Bank of Arizona |
| Feb 20, 1988 | Valley Bank of Juneau | Valley Bank, South Central (National Association) |
| Feb 20, 1988 | H O I Employees Federal Credit Union | Agc Credit Union |
| Feb 19, 1988 | North Frost Bank, National Association | Frost Bank |
| Feb 19, 1988 | Sunshine Bankshares Corporation | First Sunshine Bancshares, Inc. |
| Feb 19, 1988 | MBank Austin North, National Association | Mbank Austin, N.A. |
| Feb 19, 1988 | MBank Arboretum | Mbank Austin, N.A. |
| Feb 18, 1988 | Pge Federal Credit Union | American Heritage Federal Credit Union |
| Feb 18, 1988 | Commerce Towne Bank | Corefirst Bank & Trust |
| Feb 18, 1988 | S.E.R.C. Credit Union, Inc. | Suburban Federal Credit Union |
| Feb 17, 1988 | Northeast Publications Credit Union | Pasadena Federal Credit Union |
| Feb 16, 1988 | G.L.A. Federal Credit Union | Sidney Federal Credit Union |
| Feb 16, 1988 | The Farmers State Bank of Lostant | Illini State Bank |
| Feb 16, 1988 | Lake Forest National Bank | Northern Trust Bank/Lake Forest, National Association |
| Feb 16, 1988 | The First National Bank of Lake Bluff | Northern Trust Bank/Lake Forest, National Association |
| Feb 15, 1988 | D M E Federal Credit Union | Credit Union One |
| Feb 13, 1988 | The First National Bank of Sparta | First Union National Bank of Tennessee |
| Feb 13, 1988 | Citizens National Bank | The Bank of the West |
| Feb 12, 1988 | Security Bank, National Association - Bay Area | Security Bank |
| Feb 11, 1988 | Magnet Bank, Federal Savings Bank | Atlantic Financial Federal of West Virginia |
| Feb 11, 1988 | Mountain State Federal Savings and Loan Association | Atlantic Financial Federal of West Virginia |
| Feb 9, 1988 | BHDC Credit Union | Arkansas Employees Federal Credit Union |
| Feb 8, 1988 | Old National Bank of Washington | U.S. Bank of Washington, National Association |
| Feb 5, 1988 | Elston Corporation | Merchants National Corporation |
| Feb 4, 1988 | McLean County Bancshares, Inc. | McLean County Bancshares, Inc. |
| Feb 1, 1988 | Allied Addicks Bank | Wells Fargo Bank Texas, National Association |
| Feb 1, 1988 | Platte Valley National Company, Inc. | Valley Bank Shares, Inc. |
| Feb 1, 1988 | Emerson First National Company | Valley Bank Shares, Inc. |
| Feb 1, 1988 | First National Stanton Corp. | Valley Bank Shares, Inc. |
| Feb 1, 1988 | Brainard Agency Company | Valley Bank Shares, Inc. |
| Feb 1, 1988 | Decatur Agency Company | Valley Bank Shares, Inc. |
| Feb 1, 1988 | Arcadia Agency Company | Valley Bank Shares, Inc. |
| Feb 1, 1988 | Western Savings Credit Union | Western Cooperative Credit Union |
| Feb 1, 1988 | C C B Federal Credit Union | Genfed Financial Credit Union, Inc. |
| Feb 1, 1988 | Allied Bank Memorial | Wells Fargo Bank Texas, National Association |
| Feb 1, 1988 | Chemical Bank Cass City | Chemical Bank Bay Area |
| Feb 1, 1988 | First Nebraska Bank, National Association | First Nebraska Bank |
| Feb 1, 1988 | Allied Bank West | Wells Fargo Bank Texas, National Association |
| Feb 1, 1988 | Irba Credit Union | North Country Federal Credit Union |
| Feb 1, 1988 | Allied Bank-Gulf Freeway | Wells Fargo Bank Texas, National Association |
| Feb 1, 1988 | Mellon Bank (Fl) #2, National Association | SunTrust Bank, Gulf Coast |
| Feb 1, 1988 | South Gate Federal Savings and Loan Association | Sunrise Bank for Savings, F.S.B. |
| Feb 1, 1988 | Valley Bank, Madison | Valley Bank |
| Feb 1, 1988 | Allied Deer Park Bank | Wells Fargo Bank Texas, National Association |
| Feb 1, 1988 | Marathon Credit Union | Matagorda County Credit Union |
| Feb 1, 1988 | Allied Cypress Bank | Wells Fargo Bank Texas, National Association |
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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