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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
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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