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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
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
Dec 11, 1987 MBank Memorial, National Association TX Mbank Houston, N.A.
Dec 11, 1987 MBank Westchase, National Association TX Mbank Houston, N.A.
Dec 11, 1987 Mercantile Bank of Miller MO Mercantile Bank of South Central Missouri
Dec 11, 1987 Interchem Federal Credit Union NJ L'Oreal USA Federal Credit Union
Dec 11, 1987 MBank Long Point, National Association TX Mbank Houston, N.A.
Dec 11, 1987 Aab Corporation MI First of America Bank-Ann Arbor
Dec 11, 1987 Lakewood 1st Industrial Bank CO Arvada 1st Industrial Bank
Dec 11, 1987 MBank Clear Lake, National Association TX Mbank Houston, N.A.
Dec 11, 1987 MBank Westbury, National Association TX Mbank Houston, N.A.
Dec 11, 1987 MBank West Oaks, National Association TX Mbank Houston, N.A.
Dec 11, 1987 MBank Greenspoint, National Association TX Mbank Houston, N.A.
Dec 11, 1987 MBank Copperfield, National Association TX Mbank Houston, N.A.
Dec 11, 1987 MBank Gulf Freeway, National Association TX Mbank Houston, N.A.
Dec 11, 1987 North Denver 1st Industrial Bank CO Arvada 1st Industrial Bank
Dec 10, 1987 NCR Ithaca Employees Federal Credit Union NY Beginnings Credit Union
Dec 10, 1987 Egypt Bancorp, Inc. IL Egypt Bancorp, Inc.
Dec 10, 1987 S Bent Brothers Federal Credit Union MA Gfa Federal Credit Union
Dec 10, 1987 Amcan Employees Federal Credit Union NJ Ocnac No 1 Federal Credit Union
Dec 9, 1987 Riverside Federal Savings and Loan Association AR Home Federal Savings of Kansas City
Dec 8, 1987 Nassau-Suffolk Typographical Federal Credit Union NY Suffolk Federal Credit Union
Dec 7, 1987 The Midwest Bank & Trust Company OH The Provident Bank
Dec 7, 1987 First Security Savings Company NE First Security Bank & Trust Co.
Dec 5, 1987 The Peoples National Bank of Central Jersey NJ First National Bank of Central Jersey
Dec 5, 1987 American Savings Association of Kansas, a Federal Savings and Loan Association KS Imperial Federal Savings Association
Dec 4, 1987 MBank Lincoln Centre, National Association TX Mbank Dallas, N.A.
Dec 4, 1987 MBank Irving TX Mbank Dallas, N.A.
Dec 4, 1987 First Bank of Conyers GA Bank South
Dec 4, 1987 MBank Preston TX Mbank Dallas, N.A.
Dec 4, 1987 MBank Market Center TX Mbank Dallas, N.A.
Dec 4, 1987 (unnamed) — The Harris Bank National Association
Dec 2, 1987 Asbestos WKRS Local 112 Fcu LA Gca Federal Credit Union
Dec 2, 1987 First Prague Bancorporation, Inc. OK BancFirst Corporation
Dec 2, 1987 Commerce Bancorp, Inc. MI Security Bancorp, Inc.
Dec 2, 1987 First Savings Company of Lexington NE Pinnacle Bank
Dec 1, 1987 First Union Bank of Macon GA First Union National Bank of Georgia
Dec 1, 1987 Kyap Federal Credit Union WV Appalachian Power Employees Federal Credit Union
Dec 1, 1987 First Union Bank of Pine Mountain GA First Union National Bank of Georgia
Dec 1, 1987 Wyeth Company Employees Credit Union MO Stationery Credit Union
Dec 1, 1987 First Madill Bancorporation, Inc. OK BancFirst Corporation
Dec 1, 1987 NBD Troy Bank, National Association MI Bank One, Michigan
Dec 1, 1987 First Union Bank of Augusta GA First Union National Bank of Georgia
Dec 1, 1987 431 Credit Union IA Ascentra Credit Union
Dec 1, 1987 The First National Bank of Normal IL Commerce Bank
Dec 1, 1987 First Union Bank of Screven County GA First Union National Bank of Georgia
Dec 1, 1987 Farmers State Bank IA Cusb Bank
Dec 1, 1987 Coca-Cola Bottling Company of the Southwest Credit Union TX Saint Joseph's Credit Union
Dec 1, 1987 Savannah Bank & Trust Company of Savannah GA First Union National Bank of Georgia
Dec 1, 1987 Northeast Iowa Central Credit Union IA General Drivers Credit Union
Dec 1, 1987 Minton Employees Federal Credit Union CA Mirastar Federal Credit Union
Dec 1, 1987 Bowdle State Bank SD Live Stock State 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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