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
Dec 31, 1987	Community Bank of Savannah	MO	Bank Midwest, N.A.
Dec 31, 1987	State Bank of Waubay	SD	First Savings Bank
Dec 31, 1987	Seneca Bancshares, Inc.	WV	One Valley Bancorp, Inc.
Dec 31, 1987	Methodist Hosp of Jacksonville Fcu	FL	Alive Credit Union
Dec 31, 1987	First RepublicBank Fannin	TX	First Republicbank Houston N.A.
Dec 31, 1987	Western Security Bank	OR	KeyBank National Association
Dec 31, 1987	Peoples Ban Corporation	WA	U.S. Bancorp
Dec 31, 1987	Security Bank of Nevada	NV	Bank of America, National Association
Dec 30, 1987	Central Financial Corporation	KS	Kansas State Financial Corporation
Dec 30, 1987	FNB Bancorp., Inc.	IL	Greatbanc, Inc.
Dec 30, 1987	The Morley State Bank	MI	Independent Bank-West Michigan
Dec 29, 1987	United Bancorporation Alaska, Inc.	AK	Alliance Bancorporation
Dec 29, 1987	First Springfield National Corp.	TN	First Union Corporation of Virginia
Dec 29, 1987	First Security Affiliates, Inc.	KY	First Security Affiliates, Inc.
Dec 29, 1987	Community Federal Savings and Loan Association	OH	Union Federal Savings Bank
Dec 29, 1987	Citizens Savings Associatin	KS	Pioneer Federal Savings & Loan Association
Dec 29, 1987	(unnamed)	—	Alliance Bank
Dec 28, 1987	New Farmers and Merchants Bank of Ashville	AL	Union State Bank
Dec 28, 1987	Utica Club Employees Federal Credit Union	NY	G.P.O. Federal Credit Union
Dec 28, 1987	Downey Funding Corporation	CA	Southern California Bank
Dec 26, 1987	Tecumseh Bank	OK	The Federal National Bank & Trust Company of Shawnee
Dec 24, 1987	Columbia County School Employees Federal Credit Union	PA	Philadelphia Federal Credit Union
Dec 24, 1987	Night Hawk Employee Credit Union	TX	Velocity Credit Union
Dec 22, 1987	Farmers' State Bank of Sheffield, Ill.	IL	AMCORE Bank, Princeton
Dec 22, 1987	Lyndhurst Columbia Federal Credit Union	NJ	Ocnac No 1 Federal Credit Union
Dec 22, 1987	Guyan Bancshares Inc	WV	Matewan Bancshares, Inc.
Dec 22, 1987	American National Bank	WV	The Matewan National Bank
Dec 22, 1987	Gilbert Bank and Trust Company	WV	The Matewan National Bank
Dec 22, 1987	Toledo Central Credit Union, Inc.	OH	A P Federal Credit Union
Dec 21, 1987	The South Windsor Bank and Trust Company	CT	The Connecticut Bank and Trust Company, N.A.
Dec 21, 1987	Citizen's National Bank of Monett/Pierce City, Mo.	MO	First State Bank of the Ozarks
Dec 21, 1987	First United Federal Savings Bank	IN	Permanent Bank
Dec 21, 1987	Wendell Federal Savings and Loan Association	NC	Pioneer Savings Bank, Inc.
Dec 19, 1987	William Penn Bank	PA	Glendale Bank of Pennsylvania
Dec 19, 1987	Valley Bank of Fredonia	WI	Bank Wisconsin
Dec 18, 1987	Liberty Eylau State Bank	TX	Hibernia National Bank of Texas
Dec 18, 1987	Texarkana National Bank-Twin City	TX	Hibernia National Bank of Texas
Dec 18, 1987	Texarkana National Bank-Central Plaza	TX	Hibernia National Bank of Texas
Dec 18, 1987	Caribank of Palm Beach County	FL	Caribank
Dec 18, 1987	CB&T Bancshares, Inc.	AL	The Colonial Bancgroup, Inc.
Dec 17, 1987	Mount Pleasant Savings & Loan Association	TX	Loan and Building, SSB
Dec 16, 1987	Texize Credit Union	IL	River Valley Credit Union
Dec 16, 1987	Chattanooga Central Soya Fcu	TN	Tennessee Valley Federal Credit Union
Dec 16, 1987	Certain Teed Empl Fcu	GA	Geovista Federal Credit Union
Dec 16, 1987	Boone County Federal Savings and Loan Association	MO	United Savings Bank
Dec 15, 1987	Richmark Bank, National Association	TX	Richmark Bank
Dec 15, 1987	News - Star - World Federal Credit Union	LA	Sevenfold Federal Credit Union
Dec 12, 1987	Central Bank of Shelby County	AL	BBVA USA
Dec 12, 1987	Lackawanna Laundry Employees Federal Credit Union	NJ	L'Oreal USA Federal Credit Union
Dec 12, 1987	Associated Neenah West Bank, National Association	WI	Associated Bank, National Association

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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