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

Enforcement

OCC, FDIC, FRB, OTS and SEC 8-K filings

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
Jan 29, 1987	Peoples Bank & Trust Company	Holdenville, OK	$20.2M	Bank National Assn
Jan 29, 1987	First State Bank of Pattonsburg	Pattonburg, MO	$5.9M	—
Jan 29, 1987	The La Pryor State Bank	La Pryor, TX	$5.7M	Zavala County Bank
Jan 23, 1987	North America S&LA	Santa Anna, CA	$220.3M	—
Jan 23, 1987	The First National Bank of Marlborough	Marlborough, MA	$60.7M	Worcester CNTY Inst for
Jan 23, 1987	First Sierra Bank	Bishop, CA	$23.2M	Security Pacific NB
Jan 22, 1987	National Bank of Frederick	Frederick, OK	$23.8M	First National Bank&trus
Jan 16, 1987	First S&LA of Burkburnett	Burkburnett, TX	$204.5M	—
Jan 16, 1987	Umpqua S&LA	Roseburg, OR	$108.2M	—
Jan 15, 1987	Latimer Bank & Trust	Latimer, IA	$23.2M	First NB of Clarion
Jan 15, 1987	The First National Bank of Skiatook	Skiatook, OK	$14.0M	American Exchange Bank
Jan 15, 1987	The First National Bank of Rush Springs	Rush Springs, OK	$12.8M	First NB of Maysville
Jan 15, 1987	First Charter Bank	Denver, CO	$10.1M	Century Bank&trust
Jan 9, 1987	State Bank of Cuba	Cuba, IL	$18.3M	National Bank of Canton
Jan 8, 1987	The Security Nat BK & TR Co. of Norman	Norman, OK	$198.7M	Security NB&T Co of Norm
Jan 8, 1987	Bowie National Bank	Bowie, TX	$12.3M	Bowie State Bank
Jan 8, 1987	American National Bank of Grand Junction	Grand Junction, CO	$7.7M	Intrawest Bank of Grand

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
Aug 28, 1987	Shawmut County Bank, National Association	MA	Fleet National Bank of Massachusetts
Aug 28, 1987	The R T French Employees Federal Credit Union	NY	Family First of NY Federal Credit Union
Aug 27, 1987	N F P Federal Credit Union	VA	167th TFR Federal Credit Union
Aug 27, 1987	Ball Employees Credit Union	IN	Indiana Members Credit Union
Aug 27, 1987	Wepenn Lincoln Federal Credit Union	PA	Firstenergy Federal Credit Union
Aug 26, 1987	United Bancorp of Maryland Inc	MD	First Virginia Banks, Inc.
Aug 25, 1987	Red Rose Federal Credit Union	PA	Belco Community Credit Union
Aug 25, 1987	Olde Town Federal Credit Union	PA	Belco Community Credit Union
Aug 25, 1987	CGH Reading Federal Credit Union	PA	Bellco Federal Credit Union
Aug 24, 1987	Collinsville State Bank	TX	Security Bank of Texas
Aug 19, 1987	Conference Federal Credit Union	PA	Tri County Area Federal Credit Union
Aug 18, 1987	W C I Employees Federal Credit Union	NY	Erie Metro Federal Credit Union
Aug 17, 1987	Elcan Employees Federal Credit Union	IN	Madison County Federal Credit Union
Aug 15, 1987	Centurion Savings and Loan Association	CA	Atlantic Financial Federal Savings Bank
Aug 15, 1987	The Security National Bank of Amboy	MN	American Bank Mankato
Aug 14, 1987	City National Bank of Carrollton	TX	City National Bank of Carrollton
Aug 12, 1987	Barnett Bank of Santa Rosa County	FL	Barnett Bank of West Florida
Aug 12, 1987	Leiters Ford State Bank	IN	Liberty Bank and Trust Company
Aug 11, 1987	Bank of Bernice	LA	Origin Bank
Aug 7, 1987	Patriot Bank, National Association	MA	Bank of New England, N.A.
Aug 6, 1987	Houston General Employees Federal Credit Union	TX	Texas People Federal Credit Union
Aug 6, 1987	Dixico Federal Credit Union	TX	Relyon Credit Union
Aug 5, 1987	First Financial Bancorp, Inc.	WV	WesBanco, Inc.
Aug 4, 1987	First Walsenburg Industrial Bank	CO	First National Bank in Walsenburg
Aug 4, 1987	Woodbridge O L a Federal Credit Union	VA	Belvoir Federal Credit Union
Aug 3, 1987	Patriot Bancorporation	MA	Bne Massachusetts Corporation
Aug 1, 1987	Bank of Keytesville	MO	First Security Bank of Brookfield
Aug 1, 1987	Kremmling Holding Company	CO	Mountain Parks Financial Corporation
Aug 1, 1987	Bluco Federal Credit Union	WA	Global Federal Credit Union
Aug 1, 1987	Keytesville Bancshares, Inc.	MO	Simonsen Bancshares, Inc.
Aug 1, 1987	(unnamed)	—	Norwest Bank Boulder, National Association
Aug 1, 1987	The First National Bank of Spring Valley	MN	First National Bank
Aug 1, 1987	Mid-Tennessee Bancorp, Inc.	TN	First Union Corporation of Virginia
Aug 1, 1987	First of America Bank-Bay Area	MI	First of America Bank - Thumb Area
Aug 1, 1987	Ashland City Bank and Trust Company	TN	First Union National Bank of Tennessee
Aug 1, 1987	First FS&LA	MS	Magnolia Federal Bank for Savings
Aug 1, 1987	Sound Credit Union	WA	Global Federal Credit Union
Aug 1, 1987	Fed Officers & Empl Cu	LA	Louisiana Central Credit Union
Aug 1, 1987	First SVG BK of FL FSB	FL	Gibraltar Savings Bank, F.S.B.
Aug 1, 1987	American Federal Savings and Loan Association	OR	Pacific First Bank, a Federal Savings Bank
Aug 1, 1987	New Peoples Savings and Loan Association	HI	First Federal Savings and Loan Association of America
Aug 1, 1987	Usmc Federal Credit Union	CA	Chaffey Federal Credit Union
Aug 1, 1987	Signal Drivers/Helpers Credit Union	IL	Archer Heights Credit Union
Aug 1, 1987	Kentucky Chiropractic Credit Union	KY	Advanz Federal Credit Union
Aug 1, 1987	E.A.C. Federal Credit Union	CA	Technology Credit Union
Aug 1, 1987	Wieboldt Federal Employees Credit Union	IL	Metropolitan L Federal Credit Union
Aug 1, 1987	West Virginia League Federal Credit Union	WV	National Employees Federal Credit Union
Aug 1, 1987	Clarinda Community Federal Credit Union	IA	Affinity Credit Union
Aug 1, 1987	NorthWest Bank	WA	KeyBank National Association
Aug 1, 1987	American National Bank of Abilene	TX	First Financial 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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