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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
Jun 26, 1987 Liberty Bank & Trust Company Greenwood, LA $12.6M Peoples State Bank
Jun 26, 1987 Lanesboro State Bank Lanesboro, MN $11.4M Goodhue CNTY NB of Red W
Jun 25, 1987 South Denver National Bank Glendale, CO $59.6M First NB of Southeast De
Jun 25, 1987 Eighty Niner Bank of Coyle Coyle, OK $6.6M Oklahoma State Bank
Jun 24, 1987 Pelican State Bank Mansfield, LA $7.2M Peoples State Bank
Jun 18, 1987 Investors Federal Bank El Reno, OK $97.5M Midwest FS&LA of Minneapoli
Jun 18, 1987 First Midwest Bank Maryville, MO $25.6M First Bank of Maryville
Jun 12, 1987 Whittier Thrift & Loan Whittier, CA $15.2M Liberty Thrift&loan
Jun 12, 1987 Hamilton County State Bank Lockland, OH $13.8M Provident Bank
Jun 12, 1987 Frontier S&LA Fairbanks, AK $7.4M —
Jun 11, 1987 Security Savings Association Texarkana, TX $429.8M —
Jun 11, 1987 Northwest Commercial Bank, N.A. Houston, TX $14.2M Jersey Village Bank
Jun 11, 1987 The Benton State Bank Benton, KS $9.4M First National Bank&trus
Jun 11, 1987 First State Bank Milford, TX $7.3M Ellis County State Bank
Jun 4, 1987 United Bank of Texas Austin, TX $208.4M Mbank Austin National As
Jun 4, 1987 The First State Bank Frisco, TX $43.3M Promenade National Bank
May 29, 1987 First National Bank of Wilmont Wilmont, MN $13.3M Farmers STB of Mountain
May 28, 1987 Texas National Bank-Westheimer Houston, TX $26.3M Texas Capital Bank-Westw
May 21, 1987 Lake Austin National Bank Austin, TX $43.7M Greater TX Bank Southwes
May 21, 1987 Bank of Oak Grove Oak Grove, LA $24.0M West Carroll NB of Oak G
May 21, 1987 Texas Investment Bank, N.A. Houston, TX $17.1M River Oaks Bank
May 20, 1987 Independent American Sa Irving, TX $1.01B Sunbelt Savings, FSB
May 15, 1987 Liberty S&LA New Port Richey, FL $98.7M —
May 14, 1987 Marlin National Bank Marlin, TX $39.6M Bank of Longview N.A.
May 14, 1987 Todd County State Bank Long Prairie, MN $15.4M First NB of Long Prairie
May 14, 1987 United Bank Libby, MT $15.4M First National Bank in L
May 14, 1987 The First National Bank of Elbow Lake Elbow Lake, MN $14.2M First NB of Fergus Falls
May 8, 1987 Moreauville State Bank Moreauville, LA $16.8M Mansura STB Mansura La
May 8, 1987 Farmers State Bank Maddock, ND $11.9M Ramsey NB&T Co Devils La
May 7, 1987 First State Bank of Sisseton Sisseton, SD $20.1M Farmers&merchants B&T Co
May 7, 1987 North American National Bank Littleton, CO $9.5M FirstBank of Colorado N.A.
May 6, 1987 American Bank of Commerce Denver, CO $25.5M Professional Bank of CO
Apr 30, 1987 Unitedbank-Houston Houston, TX $217.3M American Bank
Apr 30, 1987 Peoples State Bank Turkey, TX $5.8M Memphis State Bank
Apr 29, 1987 Heritage Bank & Trust Salt Lake County, UT $17.6M First Interstate BK of U
Apr 24, 1987 Liberty FS&LA Leesville, LA $134.9M —
Apr 23, 1987 North Central National Bank Austin, TX $23.4M Greater Texas Bank North
Apr 23, 1987 Osceola State Bank & Trust Company Osceola, IA $8.6M American State Bank
Apr 22, 1987 The Bank of North Mississippi Oakland, MS $14.5M Bank of Mississippi
Apr 22, 1987 The Peoples Bank Collinsville, AL $11.9M Bank of Geraldine
Apr 16, 1987 Southern Floridabanc Sa Boca Raton, FL $219.1M —
Apr 16, 1987 First Bank of Saginaw Saginaw, TX $30.6M Southwest Bank
Apr 16, 1987 First State Bank of Forest City Forest City, MO $6.5M —
Apr 16, 1987 First Commercial Bank of Texas, Houston, TX $4.4M Omnibanc North Belt N.A.
Apr 10, 1987 Future S&LA Albany, OR $57.6M —
Apr 10, 1987 The Citizens State Bank Brownstown, IN $29.0M Monroe County Bank
Apr 10, 1987 Bank of Iron County Parowan, UT $19.8M Dixie State Bank
Apr 9, 1987 Deer Lodge Bank & Trust Company Deer Lodge, MT $15.2M Peoples BK of Deer Lodge
Apr 9, 1987 The Southwestern Bank, N.A. Houston, TX $14.7M Omnibanc North Belt N.A.
Apr 9, 1987 First National Bank of Braman Braman, OK $12.2M Community Bank

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 First National Bank of Riverlands LA First National Bank
Dec 31, 1987 Lyon County Teachers Federal Credit Union KS Emporia State Federal Credit Union
Dec 31, 1987 First RepublicBank Greenspoint TX First Republicbank Houston N.A.
Dec 31, 1987 First RepublicBank Nassau Bay, National Association TX First Republicbank Houston N.A.
Dec 31, 1987 Empire of America-Texas FSB TX Empire Federal Savings Bank of America
Dec 31, 1987 First RepublicBank San Felipe, National Association TX First Republicbank Houston N.A.
Dec 31, 1987 Burnham Empl Ca Fcu GA Members Alliance Federal Credit Union
Dec 31, 1987 United Grocers and Associates Credit Union MO United Consumers Credit Union
Dec 31, 1987 First Industrial Bank & Trust Company LA First National Bank
Dec 31, 1987 First RepublicBank Kingwood, National Association TX First Republicbank Houston N.A.
Dec 31, 1987 The Commercial National Bank and Trust Company of Laurel MS Trustmark Bank
Dec 31, 1987 First Northtown National Bank MN U.S. Bank National Association
Dec 31, 1987 First National Bank of Burnsville MN U.S. Bank National Association
Dec 31, 1987 Ban Pro Corporation MI Old Kent Bank-Southwest
Dec 31, 1987 Old National Bancorporation WA U.S. Bancorp
Dec 31, 1987 First Southdale National Bank of Edina MN U.S. Bank National Association
Dec 31, 1987 Financial Management Bancshares of West Va Inc WV One Valley Bancorp, Inc.
Dec 31, 1987 First Bank White Bear Lake, National Association MN U.S. Bank National Association
Dec 31, 1987 First RepublicBank Braes Bayou, National Association TX First Republicbank Houston N.A.
Dec 31, 1987 First Plymouth National Bank MN U.S. Bank National Association
Dec 31, 1987 Mercantile Bancorp, Inc. WV Mountaineer Bankshares of W. Va., Inc.
Dec 31, 1987 Northwestern Comm Fcu GA Georgia United Credit Union
Dec 31, 1987 First RepublicBank Spring Branch TX First Republicbank Houston N.A.
Dec 31, 1987 First Bank (National Association) - Lake MN U.S. Bank National Association
Dec 31, 1987 Empire of America-California, FSB CA Empire Federal Savings Bank of America
Dec 31, 1987 First RepublicBank Baytown TX First Republicbank Houston N.A.
Dec 31, 1987 Second Timmon Fcu FL Martin Federal Credit Union
Dec 31, 1987 First RepublicBank Post Oak TX First Republicbank Houston N.A.
Dec 31, 1987 First Bank Grand, National Association MN U.S. Bank National Association
Dec 31, 1987 First RepublicBank Eldridge, National Association TX First Republicbank Houston N.A.
Dec 31, 1987 First Bank East, National Association MN U.S. Bank National Association
Dec 31, 1987 Valley National Corporation OR U.S. Bancorp
Dec 31, 1987 First Edina National Bank MN U.S. Bank National Association
Dec 31, 1987 Ahmanson Trust Company CA Trust Services of America, Inc.
Dec 31, 1987 First Bank Robbinsdale, National Association MN U.S. Bank National Association
Dec 31, 1987 Century Bank LA First National Bank
Dec 31, 1987 First RepublicBank East Houston TX First Republicbank Houston N.A.
Dec 31, 1987 The First National Bank of Saint Paul MN U.S. Bank National Association
Dec 31, 1987 First RepublicBank SW Houston, National Association TX First Republicbank Houston N.A.
Dec 31, 1987 First RepublicBank Pasadena TX First Republicbank Houston N.A.
Dec 31, 1987 Forest SVC Fcu GA Excel Federal Credit Union
Dec 31, 1987 Savannah Bancshares, Inc. MO Maryville Bancshares, Inc.
Dec 31, 1987 The First National Bank of Avonmore PA Promistar Bank
Dec 31, 1987 The Camel Bank, Incorporated AZ (unnamed)
Dec 31, 1987 First National Bank of Hopkins MN U.S. Bank National Association
Dec 31, 1987 First RepublicBank Tomball TX First Republicbank Houston N.A.
Dec 31, 1987 Our Lady of Hope K of C #3076 Federal Credit Union NY SJP Federal Credit Union
Dec 31, 1987 Morgan Bancorp, Incorporated WV Mountaineer Bankshares of W. Va., Inc.
Dec 31, 1987 First Bank Security, National Association MN U.S. Bank National Association
Dec 31, 1987 Commercial Security Bancorporation UT Key Bancshares of Utah Inc.

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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