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 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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