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
Oct 31, 1987	First National Bank and Trust Company/St. Lucie County	FL	Seacoast National Bank
Oct 30, 1987	Bank of Laurel	MS	Union Planters Bank of Mississippi
Oct 29, 1987	Ambridge Area Federal Credit Union	PA	New Alliance Federal Credit Union
Oct 28, 1987	First RepublicBank Universal City National Association	TX	The National Bank of Fort Sam Houston
Oct 28, 1987	Lyon County State Bancshares, Inc.	KS	Ottawa Bancshares, Inc.
Oct 28, 1987	Northern Trust Bank of Florida/Palm Beach National Association	FL	Northern Trust, National Association
Oct 27, 1987	Freeport Federal Credit Union	NY	Town of Hempstead Employees Federal Credit Union
Oct 26, 1987	Royal Bank-West Side National Association	MO	Royal Banks of Missouri
Oct 24, 1987	Albertville Bancshares, Inc.	AL	Regions Financial Corporation
Oct 24, 1987	First of America Bank-Iron County	MI	First of America Bank-Upper Peninsula, National Association
Oct 24, 1987	Highland Lowell Credit Union	MA	Metro Credit Union
Oct 24, 1987	The Albertville National Bank	AL	Regions Bank
Oct 23, 1987	Valley Bank of Brownsville	WI	Bank Wisconsin
Oct 23, 1987	Shawmut Merchants Bank, N. A.	MA	Fleet National Bank of Massachusetts
Oct 23, 1987	Trenary State Bank	MI	Wells Fargo Bank Michigan, National Association
Oct 22, 1987	Liberty Bank of Carbondale	PA	First Eastern Bank, National Association
Oct 19, 1987	Gig Harbor National Bank	WA	Puget Sound Bank
Oct 19, 1987	(unnamed)	—	Citizens Bank and Trust of West Georgia
Oct 19, 1987	Conejo Valley National Bank	CA	Ventura County National Bank
Oct 17, 1987	The Security Bank	OH	The Peoples Bank
Oct 16, 1987	Fulton County Farm Bureau Cooperative Credit Union	IN	Beacon Credit Union
Oct 16, 1987	Hampshire National Bank of South Hadley	MA	Bank of New England - West, National Association
Oct 16, 1987	Amer Zinc Empl Fcu	TN	First Choice Community Credit Union
Oct 16, 1987	Southeast Bank of Walton County	FL	Southeast Bank, N.A.
Oct 15, 1987	Viking Wire Employees Credit Union	CT	Danbury Cyanamid Employees Credit Union
Oct 14, 1987	Penn Central Employees Utica Federal Credit Union	NY	G.P.O. Federal Credit Union
Oct 14, 1987	Ellis Group, Inc.	FL	NCNB Bancorporation, Inc.
Oct 14, 1987	Elbanco Realty Corporation	FL	NCNB Bancorporation, Inc.
Oct 14, 1987	Century Bank Southeast National Association	CO	Century Bank at Orchard Road
Oct 14, 1987	Cataract Lodge @ 240 Federal Credit Union	NY	Niagara's Choice Federal Credit Union
Oct 10, 1987	Columbus Federal Savings and Loan Assocaition	WI	AnchorBank, FSB
Oct 9, 1987	Commercial Trust and Savings Bank	IA	First Citizens Bank
Oct 9, 1987	Valley Bank of Hartford	WI	Valley Bank, Southeast
Oct 8, 1987	Wright City State Bank	OK	1st Bank & Trust
Oct 8, 1987	Union Warren Savings Bank	MA	Home Owners Savings Bank FSB
Oct 6, 1987	(unnamed)	—	KeyBank National Association
Oct 5, 1987	Y D Employees Federal Credit Union	OH	Struthers Federal Credit Union
Oct 5, 1987	(unnamed)	—	First American Bank
Oct 5, 1987	MBank Las Colinas, National Association	TX	Mbank Dallas, N.A.
Oct 5, 1987	A.I.D. Employees Federal Credit Union	DE	Dexsta Federal Credit Union
Oct 3, 1987	Barbers Credit Union	MI	Adventure Credit Union
Oct 3, 1987	Arrow Savings and Loan Association	MD	Allfirst Bank
Oct 3, 1987	Waccamaw State Bank, Inc.	SC	The Anchor Bank
Oct 3, 1987	Greater Lansing Labor Council Credit Union	MI	Adventure Credit Union
Oct 2, 1987	Charter National Bank - Westheimer	TX	Charter National Bank - Houston
Oct 1, 1987	Bank of Corvallis	OR	United States National Bank of Oregon
Oct 1, 1987	Pacific State Bank	OR	United States National Bank of Oregon
Oct 1, 1987	Omaha Credit Union	WI	Indianhead Credit Union
Oct 1, 1987	Southwest Kansas Banc Shares, Inc.	KS	Garden Banc Shares, Inc.
Oct 1, 1987	First United Financial Services, Inc.	IL	First Chicago Community Bancorp, 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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