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 1, 1988 | Dairy & Food Services Federal Credit Union | Finex Credit Union |
| Sep 1, 1988 | Brenton State Bank | Brenton Bank and Trust Company |
| Sep 1, 1988 | U F C W Local 37 Federal Credit Union | Policemen's Federal Credit Union |
| Sep 1, 1988 | First National Bank & Trust Company of Fremont | First Bank National Association |
| Sep 1, 1988 | Bondshire Credit Union | Park City Credit Union |
| Sep 1, 1988 | P W C Employees Federal Credit Union | Financial Builders Federal Credit Union |
| Aug 31, 1988 | C & P Bank Corporation of Pensacola | Bank South Pensacola, Inc. |
| Aug 31, 1988 | Corporate Bankshares, Inc. | IV Corporate Woods Acquisition, Inc. |
| Aug 31, 1988 | Lincoln University Federal Credit Union | Missouri Credit Union |
| Aug 31, 1988 | Citicorp Savings Company | Citicorp Savings and Industrial Bank |
| Aug 31, 1988 | Citicorp Savings Company | Citicorp Savings and Industrial Bank |
| Aug 30, 1988 | Monroe Bancshares, Inc. | First Virginia Banks, Inc. |
| Aug 27, 1988 | Commerce FSB | Security Trust Federal Savings and Loan Association |
| Aug 27, 1988 | Washington Federal Savings Bank | Metropolitan Federal Bank of Iowa |
| Aug 27, 1988 | First Federal Savings & Loan Association of Hibbing | Metropolitan Federal Bank Minnesota Federal Savings Bank |
| Aug 27, 1988 | Peoples Savings & Loan Association Federal Association | Metropolitan Federal Bank of Iowa |
| Aug 27, 1988 | Northwest Federal Savings and Loan Association | WaFd Bank |
| Aug 27, 1988 | First Federal Savings & Loan Association of Grand Rapids | Metropolitan Federal Bank Minnesota Federal Savings Bank |
| Aug 26, 1988 | Barber Employees Federal Credit Union | Dakota Star Federal Credit Union |
| Aug 25, 1988 | Nadisco Credit Union, Inc. | Trupartner Credit Union, Inc. |
| Aug 24, 1988 | Bassick Employees Federal Credit Union | McKesson Federal Credit Union |
| Aug 23, 1988 | Northumberland County Credit Union | Pinpoint Federal Credit Union |
| Aug 22, 1988 | Bank One, Ashland | Bank One, Mansfield |
| Aug 20, 1988 | Gulf National Bank | The Peoples Bank, Biloxi, Mississippi |
| Aug 20, 1988 | First Bank Bloomington | U.S. Bank National Association |
| Aug 19, 1988 | Taunton Savings Bank | New Bedford Institution for Savings |
| Aug 19, 1988 | First Pacific Corporation | (unnamed) |
| Aug 19, 1988 | Hibernia Bancshares Corporation | (unnamed) |
| Aug 19, 1988 | First Bank and Trust | First Bank and Trust |
| Aug 18, 1988 | Pittsburgh Tube Employees Federal Credit Union | Freedom United Federal Credit Union |
| Aug 17, 1988 | First State Financial Corporation of Rockford | Nwib Acquisition Corporation |
| Aug 17, 1988 | Crown Crafts Employees Credit Union | Lge Community Credit Union |
| Aug 15, 1988 | Sovran Bank/Williamson County | NationsBank of Tennessee, National Association |
| Aug 13, 1988 | First Wisconsin Bank of Eldorado | Firstar Bank Fond Du Lac, National Association |
| Aug 13, 1988 | Union National Bank | First Union National Bank of Tennessee |
| Aug 13, 1988 | M&I Bank of Middleton | M&I Bank of Southern Wisconsin |
| Aug 13, 1988 | Security Trust | First Union Bank of Connecticut |
| Aug 12, 1988 | Capitol Federal Savings of America | Standard Federal Bank for Savings |
| Aug 10, 1988 | First Federal Savings and Loan Association of Taylorville | United Savings of America |
| Aug 9, 1988 | American Motors Employees Federal Credit Union | Cornerstone Community Financial Credit Union |
| Aug 8, 1988 | Holy Name Credit Union | Greater Omaha Federal Credit Union |
| Aug 8, 1988 | Raywood Federal Credit Union | Liberty County Teachers Federal Credit Union |
| Aug 6, 1988 | Camden County Bank | Central Bank of Lake of the Ozarks |
| Aug 4, 1988 | Freedom Federal Savings Bank | Household Bank, F.S.B. |
| Aug 2, 1988 | State Record Employees Credit Union | Palmetto Citizens Federal Credit Union |
| Aug 1, 1988 | Coastal Banc Federal Savings and Loan Association | Coastal Banc, S.S.B. |
| Aug 1, 1988 | Boc Bancorp, Inc. | Lawrence Bancshares, Inc. |
| Aug 1, 1988 | Arco Bakersfield Federal Credit Union | Valley Strong Credit Union |
| Aug 1, 1988 | Skinner Employees Credit Union | Centris Federal Credit Union |
| Aug 1, 1988 | FirstBank of Port Isabel, National Association | FirstBank |
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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