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 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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