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 |
|---|---|---|
| Sep 24, 1988 | Florida Legal Cu | Fairwinds Credit Union |
| Sep 24, 1988 | Peoples Bancshares Corporation | Norwest Indiana, Inc. |
| Sep 24, 1988 | Arsenal Savings Association, Federal Association | Union Federal Bank of Indianapolis |
| Sep 23, 1988 | Washington Hospital Federal Credit Union | Frick Financial Federal Credit Union |
| Sep 23, 1988 | MBank Corpus Christi South, National Association | Corpus Christi National Bank |
| Sep 22, 1988 | Loves Park FSB | Homebanc, A Federal Savings Bank |
| Sep 21, 1988 | Central Bank of Craig, N.A. | First Security Bank of Craig |
| Sep 20, 1988 | IV Corporate Woods Acquisition, Inc. | Fourth Financial Corporation |
| Sep 19, 1988 | Crossroads National Bank | Bank of Raleigh |
| Sep 19, 1988 | (unnamed) | Mark Twain Illinois Bank |
| Sep 18, 1988 | First Midwest Bank/Lake County | First Midwest Bank, National Association |
| Sep 18, 1988 | First Midwest Bank/Zion | First Midwest Bank, National Association |
| Sep 17, 1988 | The Security Bank | Community Bank & Trust, National Association |
| Sep 17, 1988 | Ultimate Savings Bank Federal Savings Bank | Citizens Federal Bank, A FSB |
| Sep 16, 1988 | Salisbury Mercantile Bank | Mercantile Bank of Northern Missouri |
| Sep 16, 1988 | Freedom Federal Savings and Loan Association | WaFd Bank |
| Sep 16, 1988 | Everybodys Credit Union | Trupartner Credit Union, Inc. |
| Sep 16, 1988 | City/town Municipal Employees Federal Credit Union | Ufirst Federal Credit Union |
| Sep 16, 1988 | Shelbina Mercantile Bank | Mercantile Bank of Northern Missouri |
| Sep 15, 1988 | Coosa FS&LA | Regions Bank of Louisiana |
| Sep 13, 1988 | Southeastern Fcu | Jetstream Federal Credit Union |
| Sep 12, 1988 | (unnamed) | River City Bank |
| Sep 11, 1988 | First Midwest Bank/North Chicago, a National Association | First Midwest Bank, National Association |
| Sep 11, 1988 | First Midwest Bank/Lake Forest, a National Association | First Midwest Bank, National Association |
| Sep 10, 1988 | Bank of Hunnewell | Alliant Bank |
| Sep 10, 1988 | The First National Bank of Tuskaloosa | AmSouth Bank |
| Sep 10, 1988 | Acco Bridgeport Employees Federal Credit Union | McKesson Federal Credit Union |
| Sep 9, 1988 | The First National Bank of Rochester | Norwest Bank Rochester |
| Sep 9, 1988 | Robanco Financial Corp. | Norwest Indiana, Inc. |
| Sep 9, 1988 | North Wilkesboro Federal Savings and Loan Association | Wachovia Bank, National Association |
| Sep 8, 1988 | Fidelity Federal Savings and Loans Association of Berwyn | United Savings of America |
| Sep 6, 1988 | The Colonial Bank of Hartselle | Colonial Bank |
| Sep 3, 1988 | First Security Bank | (unnamed) |
| Sep 2, 1988 | The Abington National Bank | Granite Co-Operative Bank |
| Sep 2, 1988 | Milford Building & Loan Association | The Sussex Trust Company |
| Sep 2, 1988 | Monwar Employees Federal Credit Union | National Employees Federal Credit Union |
| Sep 2, 1988 | Citizens FS&LA | Citizens Federal Savings Association |
| Sep 1, 1988 | P.A.B. Federal Credit Union | Greater Pittsburgh Federal Credit Union |
| Sep 1, 1988 | Portage County Postal Employees Credit Union, Inc. | Kent Credit Union, Inc. |
| Sep 1, 1988 | Imco Credit Union | United Consumers Credit Union |
| Sep 1, 1988 | Speedkraft Credit Union | Fidelis Catholic Credit Union |
| Sep 1, 1988 | First Wyoming Bank-Hanna | Key Bank of Wyoming - Fourth and Buffalo, Rawlins, Wyoming 82301 |
| Sep 1, 1988 | Marvel-York Credit Union | Staley Credit Union |
| Sep 1, 1988 | Commerce Bank of Moberly, National Association | Commerce Bank, National Association |
| Sep 1, 1988 | Goodyear Lawton Credit Union | Communication Federal Credit Union |
| Sep 1, 1988 | First American National Bank | First American National Bank |
| Sep 1, 1988 | Melbourne Savings Bank | The First State Bank |
| Sep 1, 1988 | (unnamed) | Commerce Bank, National Association |
| Sep 1, 1988 | Continental Illinois Trust Company of Sarasota, National Association | Bank of America Trust Company of Florida, National Association |
| Sep 1, 1988 | The First National Bank of Collinsville | (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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