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 1, 1987	First Union National Bank of Columbus	GA	First Union National Bank of Georgia
Dec 1, 1987	First City Bank - West, N.A.	TX	First City, Texas - El Paso, N.A.
Dec 1, 1987	Arbuckle Bancorp, Inc.	OK	BancFirst Corporation
Dec 1, 1987	First City Bank - East, National Association	TX	First City, Texas - El Paso, N.A.
Dec 1, 1987	Polk County Federal Savings and Loan of Des Moines	IA	Midwest Savings Association Federal Association
Dec 1, 1987	Park National Bank	TX	Cleveland Bank & Trust
Dec 1, 1987	Twin Oaks Dairy Federal Credit Union	IL	Alero Financial Credit Union
Dec 1, 1987	Community Hospital Employees Credit Union	IA	River Bend Credit Union
Dec 1, 1987	Kiamichi Bancshares, Inc.	OK	BancFirst Corporation
Dec 1, 1987	Quaker State Home Office Federal Credit Union	PA	New Directions Community Credit Union
Dec 1, 1987	The Toy National Bank of Sioux City	IA	Norwest Bank Sioux City, National Association
Dec 1, 1987	Bank of Waynesboro	GA	First Union National Bank of Georgia
Dec 1, 1987	Texas Bank	TX	TexasBank
Dec 1, 1987	First Interstate Bank of Wisconsin	WI	Norwest Bank Wisconsin Northeast
Dec 1, 1987	The First National Bank of Avoca	PA	PNC Bank, Northeast PA
Nov 30, 1987	Princeton Bank of Pennsylvania, N.A.	PA	Princeton Bank of Pennsylvania
Nov 30, 1987	Pegasus Federal Credit Union	MA	Tremont Credit Union
Nov 30, 1987	Community Bank of Manatee	FL	First Union National Bank of Florida
Nov 30, 1987	Health Care Employees Credit Union	IL	Landmark Credit Union
Nov 30, 1987	Lake Charles Memorial Cu	LA	Southwest Louisiana Credit Union
Nov 28, 1987	Metropolitan Bank Plymouth	MN	Firstar MetroBank
Nov 28, 1987	Bayanihan Credit Union	MI	Credit Union One
Nov 28, 1987	Metropolitan Bank St. Paul	MN	Firstar MetroBank
Nov 25, 1987	Vah Baltimore Federal Credit Union	MD	First Financial of Maryland Federal Credit Union
Nov 21, 1987	Saint Leo's Parish Federal Credit Union	PA	Little Giant Federal Credit Union
Nov 21, 1987	Valley National Bank	TX	FirstBank
Nov 21, 1987	First of America Bank - Alger, National Association	MI	First of America Bank-Upper Peninsula, National Association
Nov 21, 1987	United Bank of Arapahoe-East N.A.	CO	Norwest Bank Arapahoe, National Association
Nov 20, 1987	Beltower Inc	WI	M&I LLC
Nov 20, 1987	Exchange National Bank	TX	Norwest Bank Texas, Kelly Field, National Association
Nov 20, 1987	Heritage Bank	GA	Bank South
Nov 20, 1987	Northern Indiana Bank and Trust Company	IN	NBD Bank, National Association
Nov 19, 1987	Macbeth Employees Federal Credit Union	NY	Heritage Financial Federal Credit Union
Nov 18, 1987	Buffalo St Teresa's Federal Credit Union	NY	St. Johns Buffalo Federal Credit Union
Nov 16, 1987	First RepublicBank Lake Air, National Association	TX	First Republicbank Waco N.A. (Austin Avenue)
Nov 16, 1987	Tri-County Savings & Loan Association	NJ	First American Savings, F.A.
Nov 14, 1987	Bank of Meadville	MO	Bank of Brookfield-Purdin N.A.
Nov 14, 1987	First RepublicBank Chelmont, National Association	TX	First Republicbank El Paso N.A.
Nov 13, 1987	First Bank Financial Corp.	GA	Bank South Corporation
Nov 13, 1987	First Midwest Bank/Joliet, National Association	IL	First Midwest Bank/Illinois, National Association
Nov 13, 1987	Shawmut First County Bank, N. A.	MA	Fleet National Bank of Massachusetts
Nov 13, 1987	Carolina Coca-Cola Employees Federal Credit Union	SC	Safe Federal Credit Union
Nov 13, 1987	Center State Bank	CA	Union Safe Deposit Bank
Nov 13, 1987	Roswell Bank	GA	First Union National Bank of Georgia
Nov 12, 1987	First RepublicBank SW Temple, National Association	TX	First Republicbank Temple N.A.
Nov 12, 1987	First Bank of Savannah	GA	Wachovia Bank of Georgia, National Association
Nov 9, 1987	Buffalo St Martins Federal Credit Union	NY	St. Johns Buffalo Federal Credit Union
Nov 9, 1987	Attnewark Federal Credit Union	NJ	The Atlantic Federal Credit Union
Nov 9, 1987	Duplin County Teachers Federal Credit Union	NC	Bragg Mutual Federal Credit Union
Nov 7, 1987	Druid Hill Federal Savings and Loan Association	MD	Chesapeake Bank of Maryland

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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