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 |
|---|---|---|
| Nov 1, 1988 | Saint Vincent De Paul Parish Credit Union, Inc. | Directions Credit Union |
| Nov 1, 1988 | (unnamed) | The Co-operative Bank of Concord |
| Nov 1, 1988 | Airetool & Yost Superior Employees Credit Union, Inc. | Wright-Patt Credit Union, Inc. |
| Nov 1, 1988 | Louis C Buehler Credit Union | Family Horizons Credit Union |
| Nov 1, 1988 | First State Savings and Loan Association | SouthTrust Bank of North Carolina |
| Nov 1, 1988 | East Weymouth Savings Bank | SouthState Bank for Savings |
| Nov 1, 1988 | Richmond Hill Savings Bank | North Side Savings Bank |
| Nov 1, 1988 | Morton Grove Metropolitan Federal Credit Union | Access Credit Union |
| Nov 1, 1988 | Continental Illinois Bank - South Suburban | First National Bank |
| Nov 1, 1988 | Security Pacific Industrial Bank | Security Pacific Finance System Incorporated |
| Oct 31, 1988 | Bank of Mid America | Bank IV, National Association |
| Oct 31, 1988 | N.G.B.S. Investments, Incorporated | Wachovia Corporation of Georgia |
| Oct 31, 1988 | Waynesboro Savings Association | Home Federal Savings Bank |
| Oct 28, 1988 | Federal Savings Bank of Maryland | Provident Bank of Maryland |
| Oct 28, 1988 | Sheridan Bancorp, Inc. | American National Bancorp, Inc. |
| Oct 28, 1988 | Msa Federal Credit Union | Tri Boro Federal Credit Union |
| Oct 26, 1988 | Ewac Federal Credit Union | People's Alliance Federal Credit Union |
| Oct 24, 1988 | Security National Bank | Banccentral |
| Oct 24, 1988 | Federal-Hoffman Credit Union | Anoka Hennepin Credit Union |
| Oct 24, 1988 | Citizens Bank of Grant City, Missouri | Bank Midwest, N.A. |
| Oct 22, 1988 | The First Jersey National Bank/Central | National Westminster Bank USA |
| Oct 21, 1988 | First Fulton Bancshares, Inc. | First City Bancorp, Inc. |
| Oct 21, 1988 | (unnamed) | Barnett Bank of Atlanta |
| Oct 20, 1988 | Times Media Group Credit Union | Florida Credit Union |
| Oct 20, 1988 | Mountain State Bank, a Federal Savings Bank | Security Pacific Bank Idaho, N.A. |
| Oct 18, 1988 | Merchants State Holding Company | Union Planters Corporation |
| Oct 18, 1988 | Lake City Bancshares Inc | The National Bank of South Carolina |
| Oct 18, 1988 | Ajax Corry Federal Credit Union | Widget Federal Credit Union |
| Oct 18, 1988 | Lake City State Bank | The National Bank of South Carolina |
| Oct 17, 1988 | Southwest Thrift & Loan Association | Southwest Bank |
| Oct 17, 1988 | U.S. Coast Guard Federal Credit Union | Aspire Federal Credit Union |
| Oct 15, 1988 | Community Bank of Morgan County | Community Bank |
| Oct 15, 1988 | Doctors Hospital Stark County Federal Credit Union | Stark Federal Credit Union |
| Oct 15, 1988 | Community Bank of Marshall County | Community Bank |
| Oct 15, 1988 | The First National Bank of Franklin County at Decherd | First Union National Bank of Tennessee |
| Oct 14, 1988 | Peabody Credit Union | Alero Financial Credit Union |
| Oct 13, 1988 | First Federal Savings and Loan Association | Republic Savings Bank, FSB |
| Oct 11, 1988 | (unnamed) | NBD Trust Company of Florida, National Association |
| Oct 11, 1988 | Marvel Employees Credit Union | Staley Credit Union |
| Oct 8, 1988 | First Jersey National Bank/South | National Westminster Bank USA |
| Oct 6, 1988 | Mutual Credit Union | Yorkville Federal Savings |
| Oct 4, 1988 | F.W.D.P. Corporation | Firstar Corporation of Illinois |
| Oct 4, 1988 | Genesee Hospital Federal Credit Union | Advantage Federal Credit Union |
| Oct 4, 1988 | F.W.N.F. Corporation | Firstar Corporation of Illinois |
| Oct 4, 1988 | Sahara Bancorp, Inc. | Firstar Corporation of Minnesota |
| Oct 3, 1988 | Capital Federal Savings and Loan Association | Pinnacle Bank |
| Oct 3, 1988 | Belt American Bank of St. Joseph | Mercantile Bank of St. Joseph |
| Oct 3, 1988 | Banco de Vizcaya, S.A. | Banco Bilbao Vizcaya Argentaria, S.A. |
| Oct 3, 1988 | Pawnee County Bank | Union Bank and Trust Company |
| Oct 2, 1988 | Texize Employees Federal Credit Union | CPM Federal 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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