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 |
|---|---|---|
| Oct 1, 1988 | Star Bank, Gallipolis | Star Bank, National Association, Tri State |
| Oct 1, 1988 | Rcac Federal Credit Union | Patelco Credit Union |
| Oct 1, 1988 | Heritage Federal Savings Bank | Railroadmen's Federal Savings and Loan Association of Indianapolis |
| Oct 1, 1988 | Crocker Employees Federal Credit Union | Monterra Credit Union |
| Oct 1, 1988 | Metropolitan Medical Center Credit Union | Associated Healthcare Credit Union |
| Oct 1, 1988 | U.S. Postal Service Federal Credit Union | U S Postal Service Federal Credit Union |
| Oct 1, 1988 | Michigan Bank - Mid South | Republic Bank |
| Oct 1, 1988 | Bergner Associates Credit Union | Citizens Equity First Credit Union |
| Oct 1, 1988 | (unnamed) | Premier Bank - Acadiana, National Association |
| Oct 1, 1988 | Peoria Graphic Arts Credit Union | Citizens Equity First Credit Union |
| Oct 1, 1988 | Murfreesboro Veterans Administration Federal Credit Union | Ascend Federal Credit Union |
| Oct 1, 1988 | Calhoun-Gordon County Educational Credit Union | Lge Community Credit Union |
| Oct 1, 1988 | Durr-Fillauer Cu | Americas First Federal Credit Union |
| Oct 1, 1988 | The State National Bank of New Iberia | Premier Bank - Acadiana, National Association |
| Oct 1, 1988 | (unnamed) | Bank One, Louisiana, National Association |
| Oct 1, 1988 | Sun Company Employees Credit Union | 1st Valley Credit Union |
| Oct 1, 1988 | Dassel State Bank | Marquette Bank Hutchinson, National Association |
| Oct 1, 1988 | Citizens Federal Savings and Loan Association of Newcastle | Ameriana Bank |
| Oct 1, 1988 | FRY's Employees Federal Credit Union | Sunwest Federal Credit Union |
| Oct 1, 1988 | Saint Patrick Parish Credit Union | Redbrand Credit Union |
| Oct 1, 1988 | United Savings and Loan Association of Central Indiana | First American Bank |
| Oct 1, 1988 | First Wyoming Bank - Meeteetse | Key Bank of Wyoming - 1130 Sheridan Avenue, Cody, Wyoming 82414 |
| Oct 1, 1988 | Metro District #1 Federal Credit Union | Canvas Credit Union |
| Oct 1, 1988 | Uscs Employees Federal Credit Union | Philadelphia Federal Credit Union |
| Oct 1, 1988 | Moores Employees Federal Credit Union | Tremont Credit Union |
| Oct 1, 1988 | I.B. Mortgage Network, Inc. | Imperial Bank |
| Oct 1, 1988 | Health Care Credit Union | Rainier Pacific Savings Bank |
| Oct 1, 1988 | Gae Members Cu | Pinnacle Credit Union |
| Oct 1, 1988 | Amalgamated Associates Company | Amalgamated Investments Company |
| Oct 1, 1988 | Professional Financial Services Credit Union | Financial Plus Credit Union |
| Oct 1, 1988 | First Bancorp of Mascoutah, Ltd. | First Bancorp of Mascoutah, Ltd. |
| Oct 1, 1988 | IB&T Corporation | Key Bancshares of Idaho, Inc. |
| Oct 1, 1988 | Modoc County Grangers Credit Union | Sierra Central Credit Union |
| Oct 1, 1988 | Bedford County Bank | First American Bank, Murfreesboro |
| Oct 1, 1988 | (unnamed) | Norwest Bank Cedar Rapids, National Association |
| Oct 1, 1988 | Saint Louis De France Federal Credit Union | St. Anne's Credit Union |
| Oct 1, 1988 | First Federal Savings Bank | South Carolina Federal Savings Bank |
| Oct 1, 1988 | Torrey Pines Federal Credit Union | San Diego County Credit Union |
| Oct 1, 1988 | Phillips 66 Employees Credit Union | Arsenal Credit Union |
| Oct 1, 1988 | USTrust/Essex | USTrust |
| Oct 1, 1988 | Mispoco Empl Cu | Powerco Federal Credit Union |
| Oct 1, 1988 | Key Bank of Long Island | Key Bank of Southeastern New York National Association |
| Oct 1, 1988 | First National Bank-South | First National Bank of Huntsville |
| Oct 1, 1988 | First Wyoming Bank - Wright | Key Bank of Wyoming - Seventh and Douglas Highway, Gillette, Wyoming 827 |
| Oct 1, 1988 | U. S. Steel Vandergrift Federal Credit Union | Kennametal Employees Federal Credit Union |
| Oct 1, 1988 | Jasco Empl Cu | Resource One Credit Union |
| Oct 1, 1988 | MKT San Antonio Credit Union | Generations Community Federal Credit Union |
| Oct 1, 1988 | First Bank of Troy | KeyBank National Association |
| Oct 1, 1988 | State Bank and Trust Company | FLAG Bank |
| Sep 30, 1988 | First City Bank - Farmers Branch | First City, Texas - Dallas |
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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