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 1, 1988 | American State Bank of New England | American Bank Center |
| Jan 1, 1988 | Norwest Bank Fergus Falls, National Association | Norwest Bank Minnesota West, National Association |
| Jan 1, 1988 | Bank of Water Valley | Renasant Bank |
| Jan 1, 1988 | Norwest Bank Old St. Anthony, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Comerica Bank - Grosse Pointe, National Association | Comerica Bank |
| Jan 1, 1988 | State Savings Company of Schuyler | Pinnacle Bank |
| Jan 1, 1988 | Chetek Area Credit Union | Heritage Credit Union |
| Jan 1, 1988 | Seiler Employees Federal Credit Union | Tremont Credit Union |
| Jan 1, 1988 | Triple Cities Federal Credit Union | Horizons Federal Credit Union |
| Jan 1, 1988 | Bobs Employees Federal Credit Union | Marriott Employees Federal Credit Union |
| Jan 1, 1988 | Norwest Bank Bismarck, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | First Bank Southeast, National Association | First Bank Southeast, N.A. |
| Jan 1, 1988 | Spslo Employees Federal Credit Union | Coasthills Federal Credit Union |
| Jan 1, 1988 | (unnamed) | Southwest Financial Bank and Trust Company |
| Jan 1, 1988 | Norwest Bank Thief River Falls, National Association | Norwest Bank Minnesota West, National Association |
| Jan 1, 1988 | Norwest Bank St. Paul, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Norwest Bank Mandan, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Hillman State Bank | Presque Isle Bank |
| Jan 1, 1988 | The Colonial Bank of East-Central Alabama | Colonial Bank |
| Jan 1, 1988 | Norwest Bank South St. Paul, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Old Kent Bank of Fremont | Fifth Third Bank |
| Jan 1, 1988 | S-W West Coast Employees Federal Credit Union | Sierra Central Credit Union |
| Jan 1, 1988 | Old Kent Bank of Greenville | Fifth Third Bank |
| Jan 1, 1988 | First of America Bank-Deerfield | Society Bank, Monroe |
| Jan 1, 1988 | (unnamed) | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Comerica Bank-Southfield | Comerica Bank |
| Jan 1, 1988 | Old Kent Bank of Kentwood | Fifth Third Bank |
| Jan 1, 1988 | First American State Bank of Sargeant | First Farmers & Merchants State Bank |
| Jan 1, 1988 | L E & W District Federal Credit Union | Nickel Steel Federal Credit Union |
| Jan 1, 1988 | American State Bank | American Bank Center |
| Jan 1, 1988 | Old Orchard Beach Federal Credit Union | Ocean Communities Federal Credit Union |
| Jan 1, 1988 | South Dakota Realtors Federal Credit Union | Bluestone Federal Credit Union |
| Jan 1, 1988 | Norwest Bank Grafton, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Aurora Chapter Credit Union | Earthmover Credit Union |
| Jan 1, 1988 | Berkel Employees Federal Credit Union | Grand Heritage Federal Credit Union |
| Jan 1, 1988 | Norwest Bank Wahpeton, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Chronicle Employees Federal Credit Union | N I C E Employees Federal Credit Union |
| Jan 1, 1988 | Park State Bank | Park Bank |
| Jan 1, 1988 | Citizens Fidelity Bank and Trust Company Clark County | P N C Bank, Indiana, Inc. |
| Jan 1, 1988 | Norwest Bank Jamestown, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Norwest Bank of Maple Grove, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | First Virginia Bank - Middle Peninsula | First Virginia Bank - Commonwealth |
| Jan 1, 1988 | Simmonds Employees Credit Union | Vermont Federal Credit Union |
| Jan 1, 1988 | Metcon Federal Credit Union | United Community Federal Credit Union |
| Jan 1, 1988 | Norwest Bank Valley City, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Norwest Bank University-Midway, National Association | Wells Fargo Bank Minnesota, National Association |
| Jan 1, 1988 | Norwest Bank Minot, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Norwest Bank Hillsboro, National Association | Wells Fargo Bank North Dakota, National Association |
| Jan 1, 1988 | Bowling Green Credit Union, Inc. | Glass City Federal Credit Union |
| Jan 1, 1988 | (unnamed) | Community Bank, 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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