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
Sep 1, 1987	Americana Bancorporation of Danube, Inc.	MN	Excel Bank Corporation
Sep 1, 1987	Americana Bancorporation of Alden, Inc.	MN	Excel Bank Corporation
Sep 1, 1987	Div of Labor Empl Cu	FL	First Commerce Credit Union
Sep 1, 1987	Americana Bancorporation of Edina, Inc.	MN	Excel Bank Corporation
Sep 1, 1987	Lyons Bancorp, Inc.	CO	Valley Bancorp, Inc.
Sep 1, 1987	First State Bancshares, Inc.	FL	First Union Corporation of Florida
Sep 1, 1987	Colonial Bancorp, Inc.	PA	Dauphin Deposit Corporation
Sep 1, 1987	The Manheim National Bank	PA	Susquehanna Bank
Sep 1, 1987	First RepublicBank in Oak Cliff	TX	First RepublicBank Oak Cliff
Sep 1, 1987	Ferno-Washington Manufacturing Employees Credit Union, Inc.	OH	Universal 1 Credit Union, Inc.
Sep 1, 1987	Lae-WC Federal Credit Union	LA	Carter Federal Credit Union
Sep 1, 1987	NBD Grand Valley Bank, National Association	MI	NBD Grand Rapids, National Association
Sep 1, 1987	Aeronca Employees Credit Union, Inc.	OH	River Valley Credit Union, Inc.
Sep 1, 1987	Metrocrest Cu	TX	LegacyTexas Bank
Sep 1, 1987	Michigan Bank - Livingston	MI	LaSalle Bank Midwest National Association
Sep 1, 1987	Teamsters Joint Council 10 Federal Credit Union	MA	New England Teamsters Federal Credit Union
Sep 1, 1987	Cotter Federal Credit Union	IL	Alero Financial Credit Union
Sep 1, 1987	First State Bank of Pensacola	FL	First Union National Bank of Florida
Sep 1, 1987	Welco Credit Union	CO	Credit Union of Colorado, a Federal Credit Union
Sep 1, 1987	Natchitoches Parish Federal Credit Union	LA	La Capitol Federal Credit Union
Sep 1, 1987	Half Dollar Trust and Savings Bank	WV	United National Bank - North
Sep 1, 1987	Milwaukee Teachers Credit Union	WI	Appletree Credit Union
Sep 1, 1987	Iowa American Baptist Credit Union	IA	Adelfi Credit Union dba Christian Community Credit Union
Sep 1, 1987	Wheeling Postal Credit Union	WV	West Virginia Central Federal Credit Union
Sep 1, 1987	First RepublicBank Tyler	TX	First Republicbank Tyler N.A.
Sep 1, 1987	Mid-Am Credit Union	IA	Affinity Credit Union
Sep 1, 1987	NBD Evart Bank, National Association	MI	NBD Cadillac Bank
Sep 1, 1987	Saint Ignatius Sanford Federal Credit Union	ME	Peopleschoice Credit Union
Sep 1, 1987	Jaydon Employees Credit Union	IL	Vibrant Credit Union
Sep 1, 1987	The Hernando Bank	MS	Trustmark Bank
Sep 1, 1987	BBF Employees Federal Credit Union	MD	Affinia Federal Credit Union
Sep 1, 1987	McDowell Industries Employees Credit Union	TN	Southern Security Federal Credit Union
Sep 1, 1987	First RepublicBank Barton Creek, National Association	TX	First RepublicBank Westlake, National Association
Sep 1, 1987	The Citizens and Southern Bank of Carrollton	GA	NationsBank, National Association (South)
Sep 1, 1987	Americana State Bank of Clara City	MN	Citizens Alliance Bank
Sep 1, 1987	W E-L a Federal Credit Union	IN	Purdue Federal Credit Union
Sep 1, 1987	New Holland Farmers National Bank	PA	Dauphin Deposit Bank and Trust Company
Sep 1, 1987	SWK Federal Credit Union	PA	Comtrust Federal Credit Union
Sep 1, 1987	Cca Western Federal Credit Union	CA	La Financial Federal Credit Union
Sep 1, 1987	Afro Amer Life Ins Co Empl Fcu	FL	Community First Credit Union of Florida
Sep 1, 1987	Abbott Ball Employees Federal Credit Union	CT	Wiremold Federal Credit Union
Aug 31, 1987	Harris County Bank-CY-Fair, N.A.	TX	Harris County Bank-Houston, N.A.
Aug 31, 1987	Central Bank of Oxford, N.A.	AL	Compass Bank of Calhoun County N.A.
Aug 31, 1987	NBC Bank-Edinburg	TX	NBC BK-Rio Grande Valley, N.A.
Aug 31, 1987	Harris County Bank-Northwest, National Association	TX	Harris County Bank-Houston, N.A.
Aug 31, 1987	St. Louis County R-2 Credit Union	MO	Vantage Credit Union
Aug 29, 1987	United Jersey Bank/Fidelity Bank	NJ	United Jersey Bank/South, National Association
Aug 29, 1987	Intrawest Bank of Fort Collins, N.A.	CO	(unnamed)
Aug 29, 1987	The Fifth Third Bank of Brown County	OH	Fifth Third Bank, Ohio Valley
Aug 29, 1987	Southern Home SVG BK	FL	Great Western Bank, a Federal Savings Bank

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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