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
Nov 7, 1987	First RepublicBank Nederland	TX	First Republicbank Beaumont
Nov 6, 1987	Texas American Bank/Riverside	TX	Texas American Bank/Fort Worth, N.A.
Nov 6, 1987	Texas American Bank/Ridgmar	TX	Texas American Bank/Fort Worth, N.A.
Nov 6, 1987	Texas American Bank/West Side	TX	Texas American Bank/Fort Worth, N.A.
Nov 4, 1987	Joskes of Texas Federal Credit Union	TX	Security Service Federal Credit Union
Nov 2, 1987	Firstway Financial, Incorporated	PA	Financial Trust Corp
Nov 2, 1987	Malden State Bank	MO	First Community Bank, Missouri
Nov 1, 1987	Rwo Credit Union, Inc.	OH	Directions Credit Union
Nov 1, 1987	Woodruff & Edwards Credit Union	IL	Kane County Teachers Credit Union
Nov 1, 1987	First Union National Bank of Newnan	GA	First Union National Bank of Georgia
Nov 1, 1987	First of America Bank-Grand Ledge	MI	First of America Bank-Central
Nov 1, 1987	First of America Bank-Charlotte	MI	First of America Bank-Central
Nov 1, 1987	First Union National Bank of Rome	GA	First Union National Bank of Georgia
Nov 1, 1987	Webb Employees Credit Union	MN	Ideal Credit Union
Nov 1, 1987	Commercial Bank & Trust Company	GA	First Union National Bank of Georgia
Nov 1, 1987	First Union National Bank of Valdosta	GA	First Union National Bank of Georgia
Nov 1, 1987	First Union National Bank of Vidalia	GA	First Union National Bank of Georgia
Nov 1, 1987	Macon Citizens Cu	NC	Mountain Credit Union
Nov 1, 1987	The Bank of Dalton	GA	First Union National Bank of Georgia
Nov 1, 1987	Hanover Bank & Trust Company	NH	Bankeast
Nov 1, 1987	The American Bank of Waco	TX	American Bank N.A.
Nov 1, 1987	Holstein State Bank	IA	Heritage Bank, National Association
Nov 1, 1987	Sibley Employees Federal Credit Union	IN	Communitywide Federal Credit Union
Nov 1, 1987	Lincoln Bank & Trust Company	LA	Central Bank
Nov 1, 1987	First Union Bank of Waycross	GA	First Union National Bank of Georgia
Nov 1, 1987	Slinger Foundry Employees Credit Union	WI	Glacier Hills Credit Union
Nov 1, 1987	Franklin Park Safe Deposit Company	IL	Lasalle Bank Illinois
Nov 1, 1987	C E Federal Credit Union	TX	Amoco Federal Credit Union
Nov 1, 1987	Iowa National Bank & Trust	IA	Heritage Bank, National Association
Nov 1, 1987	Turlock Public Employees Credit Union	CA	The Golden 1 Credit Union
Nov 1, 1987	Haverhill Boxboards Federal Credit Union	MA	Tremont Credit Union
Nov 1, 1987	Upland City Employees Federal Credit Union	CA	Arrowhead Federal Credit Union
Nov 1, 1987	Allegheny Deluxe Federal Credit Union	PA	N F G #2 Federal Credit Union
Nov 1, 1987	Pawtucket Institution for Savings	RI	Attleboro Pawtucket Savings Bank
Nov 1, 1987	The Addison Savings and Loan Company	OH	Union Savings Bank
Nov 1, 1987	Sgwe Family Credit Union	MO	United Labor Credit Union
Nov 1, 1987	KCS-K Credit Union	KS	New Century Credit Union
Oct 31, 1987	First Federal Savings & Loan Association	LA	First Federal Bank of Louisiana
Oct 31, 1987	Guarantee Savings, Federal Savings and Loan Association	CA	Glendale Federal Bank, Federal Savings Bank
Oct 31, 1987	The Union National Bank of Oxford	NC	Southern National Bank of North Carolina
Oct 31, 1987	Tucson Savings and Loan Association	AZ	Home Savings of America, FSB
Oct 31, 1987	Shreveport Bank & Trust Company	LA	Capital One, N.A.
Oct 31, 1987	Memorial Bank, National Association	TX	Memorial Bank, N.A.
Oct 31, 1987	Michigan National Bank-Michiana	MI	LaSalle Bank Midwest National Association
Oct 31, 1987	Intrawest Bank of Greeley, N.A.	CO	(unnamed)
Oct 31, 1987	United Jersey Bank/Lenape State	NJ	United Jersey Bank/South, National Association
Oct 31, 1987	The Security State Bank of Doland, South Dakota	SD	Farmers and Merchants Bank
Oct 31, 1987	Alvey Employees Credit Union	MO	Vantage Credit Union
Oct 31, 1987	First RepublicBank South Abilene	TX	First Republicbank Abilene N.A.
Oct 31, 1987	Affiliated Banc Group, Inc.	IL	Affiliated Banc Group, 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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