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 |
|---|---|---|
| Jan 22, 1988 | WVN Employees Federal Credit Union | Erie Metro Federal Credit Union |
| Jan 22, 1988 | MBank Garland | Mbank Dallas, N.A. |
| Jan 19, 1988 | (unnamed) | Unibank for Savings |
| Jan 16, 1988 | United Jersey Bank/Hillsborough National | United Jersey Bank/Central, National Association |
| Jan 16, 1988 | Black Diamond Federal Credit Union | Credit Human Federal Credit Union |
| Jan 16, 1988 | First Western Bank - Richfield | First Western Bank |
| Jan 15, 1988 | Garden Street Credit Union | Everett Credit Union |
| Jan 12, 1988 | Harbor Country Banking Corporation | Norwest Indiana, Inc. |
| Jan 11, 1988 | Texas Commerce Bank of Fort Worth | Texas Commerce Bank-Fort Worth, National Association |
| Jan 9, 1988 | Metropolitan Federal Savings Bank | First Bank, Federal Savings Bank |
| Jan 8, 1988 | Lincoln Bancshares, Inc. | First Southern Bancorp, Inc. |
| Jan 7, 1988 | Valley Bank, Chilton | M&I Bank Fox Valley |
| Jan 7, 1988 | Valley Bank of Black Creek | M&I Bank Fox Valley |
| Jan 7, 1988 | Valley Northern Bank | M&I Bank Fox Valley |
| Jan 7, 1988 | Valley Bank of Weyauwega | M&I Bank Fox Valley |
| Jan 7, 1988 | Valley Bank of Sherwood | M&I Bank Fox Valley |
| Jan 7, 1988 | Greater Covington Fcu | Onpath Federal Credit Union |
| Jan 7, 1988 | (unnamed) | M&I Bank Fox Valley |
| Jan 5, 1988 | S.B. Corporation | Woodtrust Financial Corporation |
| Jan 5, 1988 | American Federal Savings and Loan Association | First Federal Savings and Loan Association |
| Jan 4, 1988 | Gerity Shultz Federal Credit Union | A P Federal Credit Union |
| Jan 4, 1988 | Unb Corporation | First Union Corporation of Virginia |
| Jan 4, 1988 | Union Local 14 Cu | American Heritage Federal Credit Union |
| Jan 3, 1988 | Pacific Mortgage Company, Inc. | Farmers & Merchants State Bank |
| Jan 2, 1988 | Erie Financial Corp. | First of America Bank Corporation |
| Jan 2, 1988 | Jmco Federal Credit Union | Members 1st Federal Credit Union |
| Jan 2, 1988 | Boyertown Casket Workers Federal Credit Union | Apex Community Federal Credit Union |
| Jan 2, 1988 | TMH Federal Credit Union | P&G Mehoopany Employees Federal Credit Union |
| Jan 2, 1988 | Pfaltzgraff Credit Union | First Capital Federal Credit Union |
| Jan 2, 1988 | Graphic Arts of Washington Federal Credit Union | Ep Federal Credit Union |
| Jan 2, 1988 | Dist 5-542 Fcu | American Spirit Federal Credit Union |
| Jan 2, 1988 | Bank of Lubeck | One Valley Bank, National Association |
| Jan 2, 1988 | SNBF Employees Credit Union | Bayport Federal Credit Union |
| Jan 2, 1988 | Alsyl Employees Federal Credit Union | Arc Federal Credit Union |
| Jan 2, 1988 | Ufcw Local 692 Federal Credit Union | Chessie Federal Credit Union |
| Jan 2, 1988 | Lasalle College Federal Credit Union | Servco Federal Credit Union |
| Jan 2, 1988 | CBI Trust and Financial Services, Inc. | Valley Bank, Madison |
| Jan 2, 1988 | Disston Employees Credit Union | Piedmont Credit Union |
| Jan 1, 1988 | Merrill Bankshares Company | Merrill/norstar Bankshare Association |
| Jan 1, 1988 | First FSB | Regions Bank of Louisiana |
| Jan 1, 1988 | Clarkco Federal Credit Union | People's Community Federal Credit Union |
| Jan 1, 1988 | State Employees of Central Illinois Credit Union | Citizens Equity First Credit Union |
| Jan 1, 1988 | Professional SVG BK | Professional Federal Savings Bank |
| Jan 1, 1988 | Father Marquette-Muskegon Deanery Credit Union | Michigan Coastal Credit Union |
| Jan 1, 1988 | Norwest Bank Central, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Northwest Credit Union | Pioneer Credit Union |
| Jan 1, 1988 | Norwest Bank Hastings, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Norwest Bank MetroSouth, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Norwest Bank Jordan, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | American Bank of Edgerton | (unnamed) |
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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