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Calendar Year

1987 in US Banking

1,459 bank events are on record for 1987: 217 failures, 1,196 mergers or acquisitions involving a bank, credit union or bank holding company, and 1 enforcement action.

217
Failures
$15.82B in failed assets
1,196
Mergers
Federal Reserve NIC, banking organizations
1
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
45
Assistance
FDIC open-bank assistance

Jump to: Bank failures 1987 · Bank mergers 1987

How many banks failed in 1987?

217 banks failed in 1987, with $15.82B in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Oct 1, 1987 Security State Bank Oxford, NE $12.2M Union Bank&trust Co
Oct 1, 1987 Clay County State Bank Dilworth, MN $10.1M Northwestern STB of Ulen
Sep 28, 1987 Valley State Bank Los Angeles, CA $93.2M Capital Bank of Californ
Sep 25, 1987 Commonwealth Bank Torrance, CA $85.1M Capital Bank of Californ
Sep 24, 1987 The Citizens Bank Drumright, OK $35.1M American NB of Bristow
Sep 24, 1987 The Murdock State Bank Murdock, KS $9.2M Farmers STB of Norwich K
Sep 24, 1987 The Mayfield State Bank, Mayfield Mayfield, KS $6.8M First NB in Harper
Sep 19, 1987 Twin City FS & La West Monroe, LA $149.5M Secor Bank, FSB
Sep 18, 1987 Phenix FS&LA Phenix City, AL $225.5M —
Sep 18, 1987 Stockmen's Bank & Trust Company Gillette, WY $117.4M First Interstate BK Gill
Sep 17, 1987 Breaux Bridge Bank & Trust Company Breaux Bridge, LA $22.5M Midsouth National Bank
Sep 17, 1987 Steeplechase National Bank Houston, TX $15.9M Cypress National Bank
Sep 17, 1987 Mustang National Bank Mustang, OK $12.1M First National Bank of M
Sep 17, 1987 The Talmage State Bank Talmage, KS $6.7M First National Bank
Sep 11, 1987 Central National Bank of New York New York, NY $180.8M —
Sep 11, 1987 First State Bank of Rollingstone Rollingstone, MN $15.2M Eastwood Bank St Charles
Sep 10, 1987 Waxahachie Bank & Trust Company Waxahachie, TX $68.9M Merchants State Bank
Sep 10, 1987 La Marque Bank La Marque, TX $6.3M First Bank of La Marque
Sep 3, 1987 The First National Bank of Tipton Tipton, OK $8.2M First National Bank in a
Sep 3, 1987 The First National Bank of Hammon Hammon, OK $6.3M American National Bank
Aug 28, 1987 Rocky Mountain State Bank Salt Lake City, UT $18.6M Citibank Utah
Aug 27, 1987 Bank of North America Houston, TX $34.5M Texas Commerce Bank N.A.
Aug 27, 1987 Citizens Bank of Glendale Denver, CO $4.4M Prudential Bank
Aug 21, 1987 People's State Bank of Mazeppa Mazeppa, MN $21.6M First State Bank of Red
Aug 20, 1987 American Exchange Bank & Trust Co Norman, OK $87.8M Bank of Oklahoma N.A.
Aug 20, 1987 Sunbelt FS&LA Watonga, OK $65.5M Chisholm FS&LA
Aug 20, 1987 American National Bank of Evanston Evanston, WY $9.1M Pioneer Bank of Evanston
Aug 20, 1987 The First State Bank Willow, OK $6.7M Guarantee State Bank
Aug 19, 1987 First Savings of LA La Place, LA $33.6M —
Aug 14, 1987 McNulty Banking Company St. Petersburg, FL $56.6M Barnett BK of Pinellas C
Aug 13, 1987 The First National Bank of Navasota Navasota, TX $31.7M First Bank
Aug 13, 1987 First State Bank Blanchard, OK $23.6M First State Bank
Aug 13, 1987 The First National Bank of Luther Luther, OK $17.1M First Wagoner Bank&trust
Aug 7, 1987 Bayshore Bank of Florida Miami, FL $41.5M Eagle National Bank of M
Aug 6, 1987 French Market Homestead Metairie, LA $321.1M —
Aug 6, 1987 Acadia S&LA Crowley, LA $159.9M —
Aug 6, 1987 Security State Bank Roosevelt, OK $15.2M First National Bank in a
Aug 6, 1987 The Security State Bank Davenport, OK $9.4M First State Bank
Jul 30, 1987 The First National Bank of Yukon Yukon, OK $40.3M Bank of Oklahoma N.A.
Jul 30, 1987 Farmers State Bank Kanawha, IA $15.9M First NB of Clarion
Jul 30, 1987 Bank of Granite Granite, OK $13.2M Farmers&merchants Bank
Jul 30, 1987 Empire National Bank Los Angeles, CA $8.8M —
Jul 23, 1987 Freedom S&LA Tampa, FL $1.89B —
Jul 23, 1987 Bank of Los Gatos, N.A. Los Gatos, CA $13.1M Bank of the West
Jul 23, 1987 Farmers & Merchants Bank Eufaula, OK $11.5M Citizens NB&T of Muskoge
Jul 9, 1987 Red Oak State Bank Red Oak, TX $44.4M Red Oak State Bank
Jul 9, 1987 First Continental BK of Rockrimmon, N.A. Colorado Springs, CO $6.6M Valley Bank
Jul 2, 1987 Citizens Bank Bryan, TX $46.4M United Citizens Bank N.A.
Jul 2, 1987 Bank of Brazoria Brazoria, TX $24.5M Moulton State Bank
Jun 29, 1987 United FS&LA Durant, OK $89.8M Midwest FS&LA of Minneapoli

Which banks merged in 1987?

1,196 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1987.

See the fuller list: Bank mergers 1987 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Aug 28, 1987 Shawmut County Bank, National Association MA Fleet National Bank of Massachusetts
Aug 28, 1987 The R T French Employees Federal Credit Union NY Family First of NY Federal Credit Union
Aug 27, 1987 N F P Federal Credit Union VA 167th TFR Federal Credit Union
Aug 27, 1987 Ball Employees Credit Union IN Indiana Members Credit Union
Aug 27, 1987 Wepenn Lincoln Federal Credit Union PA Firstenergy Federal Credit Union
Aug 26, 1987 United Bancorp of Maryland Inc MD First Virginia Banks, Inc.
Aug 25, 1987 Red Rose Federal Credit Union PA Belco Community Credit Union
Aug 25, 1987 Olde Town Federal Credit Union PA Belco Community Credit Union
Aug 25, 1987 CGH Reading Federal Credit Union PA Bellco Federal Credit Union
Aug 24, 1987 Collinsville State Bank TX Security Bank of Texas
Aug 19, 1987 Conference Federal Credit Union PA Tri County Area Federal Credit Union
Aug 18, 1987 W C I Employees Federal Credit Union NY Erie Metro Federal Credit Union
Aug 17, 1987 Elcan Employees Federal Credit Union IN Madison County Federal Credit Union
Aug 15, 1987 Centurion Savings and Loan Association CA Atlantic Financial Federal Savings Bank
Aug 15, 1987 The Security National Bank of Amboy MN American Bank Mankato
Aug 14, 1987 City National Bank of Carrollton TX City National Bank of Carrollton
Aug 12, 1987 Barnett Bank of Santa Rosa County FL Barnett Bank of West Florida
Aug 12, 1987 Leiters Ford State Bank IN Liberty Bank and Trust Company
Aug 11, 1987 Bank of Bernice LA Origin Bank
Aug 7, 1987 Patriot Bank, National Association MA Bank of New England, N.A.
Aug 6, 1987 Houston General Employees Federal Credit Union TX Texas People Federal Credit Union
Aug 6, 1987 Dixico Federal Credit Union TX Relyon Credit Union
Aug 5, 1987 First Financial Bancorp, Inc. WV WesBanco, Inc.
Aug 4, 1987 First Walsenburg Industrial Bank CO First National Bank in Walsenburg
Aug 4, 1987 Woodbridge O L a Federal Credit Union VA Belvoir Federal Credit Union
Aug 3, 1987 Patriot Bancorporation MA Bne Massachusetts Corporation
Aug 1, 1987 Bank of Keytesville MO First Security Bank of Brookfield
Aug 1, 1987 Kremmling Holding Company CO Mountain Parks Financial Corporation
Aug 1, 1987 Bluco Federal Credit Union WA Global Federal Credit Union
Aug 1, 1987 Keytesville Bancshares, Inc. MO Simonsen Bancshares, Inc.
Aug 1, 1987 (unnamed) — Norwest Bank Boulder, National Association
Aug 1, 1987 The First National Bank of Spring Valley MN First National Bank
Aug 1, 1987 Mid-Tennessee Bancorp, Inc. TN First Union Corporation of Virginia
Aug 1, 1987 First of America Bank-Bay Area MI First of America Bank - Thumb Area
Aug 1, 1987 Ashland City Bank and Trust Company TN First Union National Bank of Tennessee
Aug 1, 1987 First FS&LA MS Magnolia Federal Bank for Savings
Aug 1, 1987 Sound Credit Union WA Global Federal Credit Union
Aug 1, 1987 Fed Officers & Empl Cu LA Louisiana Central Credit Union
Aug 1, 1987 First SVG BK of FL FSB FL Gibraltar Savings Bank, F.S.B.
Aug 1, 1987 American Federal Savings and Loan Association OR Pacific First Bank, a Federal Savings Bank
Aug 1, 1987 New Peoples Savings and Loan Association HI First Federal Savings and Loan Association of America
Aug 1, 1987 Usmc Federal Credit Union CA Chaffey Federal Credit Union
Aug 1, 1987 Signal Drivers/Helpers Credit Union IL Archer Heights Credit Union
Aug 1, 1987 Kentucky Chiropractic Credit Union KY Advanz Federal Credit Union
Aug 1, 1987 E.A.C. Federal Credit Union CA Technology Credit Union
Aug 1, 1987 Wieboldt Federal Employees Credit Union IL Metropolitan L Federal Credit Union
Aug 1, 1987 West Virginia League Federal Credit Union WV National Employees Federal Credit Union
Aug 1, 1987 Clarinda Community Federal Credit Union IA Affinity Credit Union
Aug 1, 1987 NorthWest Bank WA KeyBank National Association
Aug 1, 1987 American National Bank of Abilene TX First Financial Bank

The list holds 500 of the 1,196 mergers recorded for 1987.

Enforcement Actions in 1987

Action date Agency Institution Action
Feb 11, 1987 OCC Marble Falls National Bank Formal Agreement: Marble Falls National Bank

FDIC Open-Bank Assistance in 1987

Date Institution HQ Assets
Dec 31, 1987 First Financial Bank, FSB New Orleans, LA $744.9M
Dec 31, 1987 American FS&LA Lynchburg, VA $166.5M
Dec 31, 1987 Gibson Federal S&LA Gibson City, IL $131.5M
Dec 31, 1987 First FS&LA of Slidell Slidell, LA $46.2M
Dec 30, 1987 First Financial of LA Lutcher, LA $159.5M
Dec 30, 1987 First FS&LA of Alexandria Alexandria, LA $148.7M
Dec 30, 1987 Firstbanc FSB Gonzales, LA $46.3M
Dec 29, 1987 Community FS&LA Hamilton, OH $405.6M
Dec 29, 1987 The Falun State Bank Falun, KS $3.1M
Dec 16, 1987 MT. Pleasant S&LA Mt. Pleasant, TX $24.9M
Dec 16, 1987 Boone County FS&LA Centralia, MO $19.7M
Dec 11, 1987 Surety FS&LA Morganton, NC $124.9M
Dec 3, 1987 Crossroads Bank Victoria, TX $25.1M
Nov 17, 1987 Argo FS&LA Summit, IL $25.6M
Nov 12, 1987 Gulf FS&LA Mobile, AL $6.1M
Oct 31, 1987 First FS&LA Natchitoches Natchitoches, LA $48.1M
Oct 16, 1987 Commercial Bank, N.A. Oklahoma City, OK $23.4M
Sep 24, 1987 Lyons Federal Trust & Savings Countryside, IL $2.28B
Jul 31, 1987 Ok Federal S&LA El Reno, OK $51.8M
Jul 31, 1987 Valley Bank of Belgrade Belgrade, MT $18.6M
Jul 17, 1987 Banktexas Dallas, N.A. Dallas, TX $541.3M
Jul 17, 1987 Banctexas Allen Parkway, N.A. Houston, TX $125.0M
Jul 17, 1987 Banctexas McKinney, N.A. McKinney, TX $121.5M
Jul 17, 1987 Banctexas Richardson, N.A. Richardson, TX $81.0M
Jul 17, 1987 Banctexas White Rock, N.A. Dallas, TX $80.9M
Jul 17, 1987 Banctexas Northside Houston, N.A Houston, TX $61.1M
Jul 17, 1987 Banctexas Carrollton, N.A. Carrollton, TX $51.1M
Jul 17, 1987 Banctexas Houston Houston, TX $45.9M
Jul 17, 1987 Banctexas Westheimer Houston, TX $34.1M
Jul 17, 1987 Banctexas Quorum, N.A. Addison, TX $21.2M
Jul 17, 1987 Banctexas Sulphur Springs, N.A. Sulphur Springs, TX $18.3M
Jul 2, 1987 United First FS&LA Boise, ID $344.5M
Jul 2, 1987 Provident FS&LA Boise, ID $222.3M
Jun 30, 1987 Fort Lee S&LA Fort Lee, NJ $170.6M
Jun 5, 1987 Security Bank of Rich Hill Rich Hill, MO $13.0M
May 13, 1987 Syracuse Savings Bank Syracuse, NY $1.18B
Apr 3, 1987 Tahoe S&LA South Lake Tahoe, CA $81.2M
Mar 25, 1987 South Florida Savings Bank Davie, FL $172.0M
Mar 24, 1987 Western S&LA Salt Lake City, UT $392.7M
Mar 20, 1987 Bayou FS&LA New Orleans, LA $25.8M
Mar 13, 1987 Home S&LA Seattle, WA $150.6M
Mar 6, 1987 South Bay S&LA Gardens, CA $61.9M
Feb 26, 1987 Central Bank & Trust Company Glenmora, LA $20.6M
Feb 25, 1987 American National Bank Durant, OK $9.7M
Jan 16, 1987 Magic Valley S&LA Weslaco, TX $103.4M

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