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
Apr 9, 1987	Commonwealth Bank	Glendale, CO	$7.8M	Prudential Bank
Apr 2, 1987	The First National Bank of Herington	Herington, KS	$20.7M	Bank of Herington
Mar 27, 1987	Equitable S&LA	Stanton, CA	$58.9M	—
Mar 27, 1987	Tallulah State Bank & Trust Comp	Tallulah, LA	$31.1M	Bank of St Joseph&trust
Mar 26, 1987	The First State Bank in Billings	Billings, OK	$10.2M	First NB&T Co Perry Okla
Mar 20, 1987	Vernon S&LA	Vernon, TX	$1.35B	Montfort Savings Associatio
Mar 20, 1987	First FS&LA	Hagerstown, MD	$95.7M	—
Mar 20, 1987	First Southern Sa	Pascagoula, MS	$47.1M	—
Mar 20, 1987	The Madill Bank & Trust Company	Madill, OK	$39.6M	First American National
Mar 20, 1987	New City Bank	Orange, CA	$26.0M	Colonial Bank National a
Mar 20, 1987	Morocco State Bank	Morocco, IN	$16.3M	De Motte State Bank
Mar 19, 1987	Red River National Bank in Clarksville	Clarksville, TX	$22.8M	State Bank of De Kalb
Mar 19, 1987	Sweeney Bank	Sweeney, TX	$19.7M	First State Bank
Mar 19, 1987	Clarks Fork National Bank	Fromberg, MT	$8.4M	Yellowstone Bank
Mar 18, 1987	Perpetual SB	Los Angeles, CA	$62.5M	—
Mar 17, 1987	United Oklahoma Bank	Oklahoma City, OK	$171.9M	United Bank of Oklahoma
Mar 13, 1987	Victor S&LA	Muskogee, OK	$601.3M	Cimarron FS&LA
Mar 13, 1987	Beaver Creek State Bank	Beaver Creek, MN	$7.3M	Citizens STB of Silver L
Mar 12, 1987	Western Bank	El Paso, TX	$46.7M	Mbank El Paso National a
Mar 12, 1987	Plaza National Bank	Del Rio, TX	$34.2M	—
Mar 12, 1987	Expressway Bank	Oklahoma City, OK	$19.1M	First Interstate BK of O
Mar 12, 1987	The First National Bank of Olney	Olney, TX	$16.7M	First National Bank of O
Mar 5, 1987	Liberty Bank	Houston, TX	$57.2M	Central Bank of Houston
Mar 5, 1987	First National Bank in West Concord	West Concord, MN	$9.1M	Farmers STB of West Conc
Mar 5, 1987	Sealy National Bank	Sealy, TX	$7.7M	Austin County State Bank
Mar 5, 1987	First National Bank of Sapulpa	Sapulpa, OK	$7.5M	American NB&T Co Sapulpa
Mar 4, 1987	The First State Bank	Rockford, IA	$15.8M	First Security Bank&trus
Feb 27, 1987	Key S&LA	Englewood, CO	$241.6M	Commercial FS&LA
Feb 27, 1987	First FS&LA of Beloit	Beloit, KS	$82.9M	—
Feb 27, 1987	The Lewistown Bank	Lewistown, IL	$15.3M	National Bank of Canton
Feb 26, 1987	Farmers State Bank	Hart, TX	$9.8M	Hale County State Bank
Feb 26, 1987	First National Bank of Crosby	Crosby, TX	$7.8M	First NB of Crosby
Feb 20, 1987	The First National Bank of Weslaco	Weslaco, TX	$70.7M	—
Feb 20, 1987	Hub City Bank & Trust Company	Lafayette, LA	$38.0M	Hibernia National Bank
Feb 19, 1987	First State Bank of Atmore	Atmore, AL	$12.4M	First NB of Atmore
Feb 13, 1987	Life Savings of America	Rockford, IL	$342.3M	—
Feb 13, 1987	The County Bank	Manatee County, FL	$187.1M	NCNB NB of Florida
Feb 13, 1987	Universal Sa, F.A.	Chickasha, OK	$104.6M	—
Feb 13, 1987	First State Bank of King City, Missouri	King City, MO	$14.5M	Citizens Bank&trust Co
Feb 12, 1987	Federated National Bank	Live Oak, TX	$13.6M	—
Feb 12, 1987	First City Bank of Atoka	Atoka, OK	$11.6M	Atoka State Bank
Feb 12, 1987	Security National Bank	Midland, TX	$8.6M	—
Feb 11, 1987	Community Bank	Seiling, OK	$5.1M	First NB of Seiling
Feb 5, 1987	Boulevard State Bank	Wichita, KS	$102.3M	Union Boulevard NB
Feb 5, 1987	State Bank of Allison	Allison, IA	$17.4M	Lincoln Savings Bank
Feb 5, 1987	Sunbelt National Bank	Dallas, TX	$11.4M	—
Feb 5, 1987	Market National Bank	Denver, CO	$8.7M	Womens Bank N a
Jan 29, 1987	Montgomery County Bank, N.A.	The Woodlands, TX	$48.5M	Texas Commerce Bank N.A.
Jan 29, 1987	The Farmers National Bank of Remington	Remington, IN	$34.7M	Lafayette National Bank
Jan 29, 1987	Bear Creek National Bank	Bear Creek, TX	$26.6M	Jersey Village 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	Community Bank of Savannah	MO	Bank Midwest, N.A.
Dec 31, 1987	State Bank of Waubay	SD	First Savings Bank
Dec 31, 1987	Seneca Bancshares, Inc.	WV	One Valley Bancorp, Inc.
Dec 31, 1987	Methodist Hosp of Jacksonville Fcu	FL	Alive Credit Union
Dec 31, 1987	First RepublicBank Fannin	TX	First Republicbank Houston N.A.
Dec 31, 1987	Western Security Bank	OR	KeyBank National Association
Dec 31, 1987	Peoples Ban Corporation	WA	U.S. Bancorp
Dec 31, 1987	Security Bank of Nevada	NV	Bank of America, National Association
Dec 30, 1987	Central Financial Corporation	KS	Kansas State Financial Corporation
Dec 30, 1987	FNB Bancorp., Inc.	IL	Greatbanc, Inc.
Dec 30, 1987	The Morley State Bank	MI	Independent Bank-West Michigan
Dec 29, 1987	United Bancorporation Alaska, Inc.	AK	Alliance Bancorporation
Dec 29, 1987	First Springfield National Corp.	TN	First Union Corporation of Virginia
Dec 29, 1987	First Security Affiliates, Inc.	KY	First Security Affiliates, Inc.
Dec 29, 1987	Community Federal Savings and Loan Association	OH	Union Federal Savings Bank
Dec 29, 1987	Citizens Savings Associatin	KS	Pioneer Federal Savings & Loan Association
Dec 29, 1987	(unnamed)	—	Alliance Bank
Dec 28, 1987	New Farmers and Merchants Bank of Ashville	AL	Union State Bank
Dec 28, 1987	Utica Club Employees Federal Credit Union	NY	G.P.O. Federal Credit Union
Dec 28, 1987	Downey Funding Corporation	CA	Southern California Bank
Dec 26, 1987	Tecumseh Bank	OK	The Federal National Bank & Trust Company of Shawnee
Dec 24, 1987	Columbia County School Employees Federal Credit Union	PA	Philadelphia Federal Credit Union
Dec 24, 1987	Night Hawk Employee Credit Union	TX	Velocity Credit Union
Dec 22, 1987	Farmers' State Bank of Sheffield, Ill.	IL	AMCORE Bank, Princeton
Dec 22, 1987	Lyndhurst Columbia Federal Credit Union	NJ	Ocnac No 1 Federal Credit Union
Dec 22, 1987	Guyan Bancshares Inc	WV	Matewan Bancshares, Inc.
Dec 22, 1987	American National Bank	WV	The Matewan National Bank
Dec 22, 1987	Gilbert Bank and Trust Company	WV	The Matewan National Bank
Dec 22, 1987	Toledo Central Credit Union, Inc.	OH	A P Federal Credit Union
Dec 21, 1987	The South Windsor Bank and Trust Company	CT	The Connecticut Bank and Trust Company, N.A.
Dec 21, 1987	Citizen's National Bank of Monett/Pierce City, Mo.	MO	First State Bank of the Ozarks
Dec 21, 1987	First United Federal Savings Bank	IN	Permanent Bank
Dec 21, 1987	Wendell Federal Savings and Loan Association	NC	Pioneer Savings Bank, Inc.
Dec 19, 1987	William Penn Bank	PA	Glendale Bank of Pennsylvania
Dec 19, 1987	Valley Bank of Fredonia	WI	Bank Wisconsin
Dec 18, 1987	Liberty Eylau State Bank	TX	Hibernia National Bank of Texas
Dec 18, 1987	Texarkana National Bank-Twin City	TX	Hibernia National Bank of Texas
Dec 18, 1987	Texarkana National Bank-Central Plaza	TX	Hibernia National Bank of Texas
Dec 18, 1987	Caribank of Palm Beach County	FL	Caribank
Dec 18, 1987	CB&T Bancshares, Inc.	AL	The Colonial Bancgroup, Inc.
Dec 17, 1987	Mount Pleasant Savings & Loan Association	TX	Loan and Building, SSB
Dec 16, 1987	Texize Credit Union	IL	River Valley Credit Union
Dec 16, 1987	Chattanooga Central Soya Fcu	TN	Tennessee Valley Federal Credit Union
Dec 16, 1987	Certain Teed Empl Fcu	GA	Geovista Federal Credit Union
Dec 16, 1987	Boone County Federal Savings and Loan Association	MO	United Savings Bank
Dec 15, 1987	Richmark Bank, National Association	TX	Richmark Bank
Dec 15, 1987	News - Star - World Federal Credit Union	LA	Sevenfold Federal Credit Union
Dec 12, 1987	Central Bank of Shelby County	AL	BBVA USA
Dec 12, 1987	Lackawanna Laundry Employees Federal Credit Union	NJ	L'Oreal USA Federal Credit Union
Dec 12, 1987	Associated Neenah West Bank, National Association	WI	Associated Bank, National Association

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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