Calendar Year

1988 in US Banking

1,745 bank events are on record for 1988: 232 failures, 1,275 mergers or acquisitions involving a bank, credit union or bank holding company, and 0 enforcement actions.

232

Failures

$48.36B in failed assets

1,275

Mergers

Federal Reserve NIC, banking organizations

0

Enforcement

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

238

Assistance

FDIC open-bank assistance

Jump to: Bank failures 1988 · Bank mergers 1988

How many banks failed in 1988?

232 banks failed in 1988, with $48.36B in assets. Each failure below links to its own page.

Date	Bank	HQ	Assets	Acquirer or resolution
Sep 15, 1988	River City Bank	Castle Hills, TX	$15.1M	Citizens STB of Luling
Sep 15, 1988	Citizens Bank of Littleton	Littleton, CO	$6.4M	Equitable BK of Littleto
Sep 8, 1988	The Sylvia State Bank	Sylvia, KS	$5.9M	Turon State Bank
Sep 1, 1988	American Bank of Muskogee	Muskogee, OK	$28.6M	Citizens NB&T of Muskoge
Sep 1, 1988	Commercial State Bank	San Augustine, TX	$25.6M	Hamilton National Bank
Sep 1, 1988	Pioneer National Bank	Arlington, TX	$20.3M	Deposit Guaranty Bank
Sep 1, 1988	Mingo Trust & Savings Bank	Mingo, IA	$12.1M	Exchange State Bank
Sep 1, 1988	Pisgah Savings Bank	Pisgah, IA	$9.7M	Iowa Savings Bank
Sep 1, 1988	First National Bank of Atascocita	Harris County, TX	$9.4M	First Interstate BK of T
Sep 1, 1988	Lakeland State Bank	Camden County, MO	$9.3M	Community Bank of the Oz
Aug 31, 1988	Frontier Savings & Loan	Ponca City, OK	$1.03B	Commercial Fed BK a FSB
Aug 31, 1988	Phoenix FS&LA	Muskogee, OK	$419.4M	Cimarron FS&LA
Aug 31, 1988	Home Savings Bank, F.A.	Lawton, OK	$264.1M	Red River FS&LA
Aug 31, 1988	Home S&LA	Bartlesville, OK	$173.5M	Cimarron FS&LA
Aug 31, 1988	Kingfisher FS&LA	Kingfisher, OK	$124.4M	Chisholm
Aug 31, 1988	First FS&LA	Elk City, OK	$106.7M	Red River FS&LA
Aug 31, 1988	Heritage S&LA	Elk City, OK	$80.8M	Red River
Aug 31, 1988	Peoples FS&LA	Ardmore, OK	$49.9M	Red River FS&LA
Aug 26, 1988	Biwabik State Bank	Biwabik, MN	$3.2M	First National Bank
Aug 25, 1988	Bank of the Mid-South	Bossier City, LA	$41.8M	Red River Valley Bank
Aug 25, 1988	Highland Park National Bank	Dallas, TX	$26.3M	Deposit Guaranty Bank
Aug 25, 1988	Bancfirst-Westlake, N.A.	Austin, TX	$15.0M	Union National Bank of T
Aug 19, 1988	Sunbelt Savings Association of Texas	Dallas, TX	$2.21B	Sunbelt Savings FSB
Aug 19, 1988	First City Savings Association	Irving, TX	$227.0M	Sunbelt Savings FSB
Aug 19, 1988	Multibanc Savings Association	Dallas, TX	$190.7M	Sunbelt Savings FSB
Aug 19, 1988	Federated S&LA	San Antonio, TX	$150.1M	Sunbelt Savings FSB
Aug 19, 1988	Texana S&LA	Texarkana, TX	$78.1M	Sunbelt Savings FSB
Aug 19, 1988	Marshall County Bank	Britton, SD	$10.7M	First National Bank
Aug 18, 1988	Town & Country National Bank	Harlingen, TX	$29.6M	Harlingen National Bank
Aug 18, 1988	First National Bank Austin	Austin, TX	$26.0M	First State Bank
Aug 18, 1988	Citizens State Bank	Maud, OK	$11.1M	Bank National Assn
Aug 11, 1988	First Bank	Balch Springs, TX	$46.2M	Gateway National Bank
Aug 11, 1988	West Houston National Bank	Houston, TX	$26.4M	Texas Commerce Bank N.A.
Aug 11, 1988	Galena Park State Bank	Galena Park, TX	$24.8M	Lockwood NB of Houston
Aug 4, 1988	Farmers & Merchants Bank of Elmo	Elmo, MO	$9.2M	First Bank of Maryville
Aug 3, 1988	Alaska Continental Bank	Anchorage, AK	$51.5M	First Interstate Bank of
Aug 2, 1988	First Republicbank Delaware	Newark, DE	$582.4M	Citibank Delaware
Jul 29, 1988	First Republicbank-Dallas, N.A.	Dallas, TX	$17.09B	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Houston, N.A.	Houston, TX	$2.71B	NCNB Texas National Bank
Jul 29, 1988	First REPUBLICBANK-FT. Worth, N.A.	Ft. Worth, TX	$1.96B	NCNB Texas National Bank
Jul 29, 1988	First Republicbank- Austin, N.A.	Austin, TX	$1.69B	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-San Antonio	San Antonio, TX	$797.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Waco, N.A.	Waco, TX	$716.3M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Midland, N.A.	Midland, TX	$659.4M	NCNB Texas National Bank
Jul 29, 1988	National Bank of FT. Sam Houston	Ft. Sam Houston, TX	$634.8M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Tyler, N.A.	Tyler, TX	$610.4M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Lubbock, N.A.	Lubbuck, TX	$528.1M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Wichita Falls	Wichita Falls, TX	$304.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Galveston, N.A.	Galveston, TX	$257.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Jefferson County	Beaumont, TX	$240.7M	NCNB Texas National Bank

Which banks merged in 1988?

1,275 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1988.

See the fuller list: Bank mergers 1988 with largest deals and credit union mergers ›

Date	Acquired	St	Acquirer
Nov 16, 1988	Bur-Ken Federal Credit Union	PA	Allegheny Valley Federal Credit Union
Nov 16, 1988	Bishop College Cu	TX	Good Street Baptist Church Federal Credit Union
Nov 16, 1988	Alliance Bank, N.A.	OK	First National Bank
Nov 15, 1988	Savers Holdings, Incorporated	MD	The Bank of Baltimore
Nov 15, 1988	Ila Corpus Federal Credit Union	TX	Homeport Federal Credit Union
Nov 15, 1988	State Bank of Darfur	MN	Westbrook-Darfur State Bank
Nov 14, 1988	Boatmen's Raytown Bank	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Conroe	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's Bank of Excelsior Springs	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Port Arthur	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Angleton, National Association	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's Bank of Lee's Summit	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Rockport	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Northwest San Antonio, National Association	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Fort Bend	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Beaumont, National Association	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of North San Antonio	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of South Austin	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's Bank of Belton	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	North East Federal Savings & Loan Association	PA	Prime Bank
Nov 14, 1988	First Interstate Bank of North Austin	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Marble Falls	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's North Hills Bank	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	Wyoming National Bank Casper East	WY	Wells Fargo Bank Wyoming, National Association
Nov 14, 1988	Richland Banking Co.	GA	Farmers State Bank
Nov 14, 1988	Boatmen's Bank of Independence	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Austin	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Wyoming National Bank Casper West	WY	Wells Fargo Bank Wyoming, National Association
Nov 12, 1988	Utah State Credit Union	UT	Mountain America Federal Credit Union
Nov 10, 1988	Security Pacific Asian Banking Corporation, N.A.	CA	Security Pacific Asian Bank, N.A.
Nov 10, 1988	Life Plan Credit Union	IA	Financial Plus Credit Union
Nov 9, 1988	Offshore Fcu	LA	Onpath Federal Credit Union
Nov 7, 1988	M R Employees Federal Credit Union	IL	Federal Mogul Employees Federal Credit Union
Nov 5, 1988	Consumers Savings Bank	MA	Bank of New England-Worcester
Nov 5, 1988	Lincoln Federal Savings and Loan Association	NJ	Granite Bank, Federal Savings Bank
Nov 3, 1988	Reliance Savings and Loan Association	NJ	CrossLand Savings, FSB
Nov 2, 1988	LBC&W Employees Federal Credit Union	SC	Carolina Foothills Federal Credit Union
Nov 1, 1988	Security Capitol Building Corp	WI	Valley Bank
Nov 1, 1988	Union Bancorp	CA	MUFG Union Bank, National Association
Nov 1, 1988	C F S Continental Employees Federal Credit Union	IL	Alero Financial Credit Union
Nov 1, 1988	(unnamed)	—	MUFG Union Bank, National Association
Nov 1, 1988	Security Pacific Industrial Bank	CO	Security Pacific Finance System Incorporated
Nov 1, 1988	Airetool & Yost Superior Employees Credit Union, Inc.	OH	Wright-Patt Credit Union, Inc.
Nov 1, 1988	Saint Vincent De Paul Parish Credit Union, Inc.	OH	Directions Credit Union
Nov 1, 1988	A B E Credit Union	IL	American Broadcast Employees Federal Credit Union
Nov 1, 1988	The First National Bank of Grafton	WV	(unnamed)
Nov 1, 1988	(unnamed)	—	The Co-operative Bank of Concord
Nov 1, 1988	Standard Chartered Holdings, Inc.	CA	MUFG Union Bank, National Association
Nov 1, 1988	GCC Employees Credit Union	SC	South Carolina Federal Credit Union
Nov 1, 1988	First of America Bank-Belvidere	IL	First of America Bank-Rockford, National Association

The list holds 500 of the 1,275 mergers recorded for 1988.

FDIC Open-Bank Assistance in 1988

Date	Institution	HQ	Assets
Dec 16, 1988	United SB of Wyoming	Cheynne, WY	$220.5M
Dec 16, 1988	First Dearborn	Dearborn, MI	$167.3M
Dec 15, 1988	American Home Savings	Salem, OR	$403.0M
Dec 15, 1988	Community First Fed Savings	Vancouver, WA	$386.0M
Dec 15, 1988	Rooks County FSA	Plainville, KS	$32.0M
Dec 14, 1988	Eastern Washington S&LA	Wenatchee, WA	$51.5M
Dec 12, 1988	Midamerica SB	Waterloo, IA	$244.3M
Dec 1, 1988	Cardinal FSB	Cleveland, OH	$1.47B
Dec 1, 1988	First FS&LA	Columbus, GA	$265.7M
Dec 1, 1988	Northpark Savings Association	Richardson, TX	$126.6M
Dec 1, 1988	United FS&LA	Aberdeen, SD	$92.5M
Nov 18, 1988	Tesoro S&LA	Laredo, TX	$248.1M
Nov 16, 1988	Alliance Bank, N.A.	Oklahoma City, OK	$8.9M
Nov 2, 1988	Reliance FS&LA	Rahway, NJ	$64.3M
Nov 1, 1988	Lincoln FS&LA	Westfield, NJ	$1.25B
Nov 1, 1988	Southside S&L	Lima, OH	$54.1M
Oct 25, 1988	Peoples FSB	Wooster, OH	$341.1M
Oct 14, 1988	Olney Savings Association	Olney, TX	$1.34B
Oct 14, 1988	Banc Home Savings Association	Midland, TX	$603.4M
Oct 14, 1988	Security FS&LA	Pampa, TX	$396.0M
Oct 14, 1988	Heart O Texas Savings Association	Midland, TX	$269.5M
Oct 14, 1988	First FS&LA	Amarillo, TX	$214.1M
Oct 14, 1988	Southern S&LA	Brownwood, TX	$154.8M
Oct 14, 1988	Southwest S&LA	Abilene, TX	$154.3M
Oct 14, 1988	Odessa Savings Association	Odessa, TX	$132.1M
Oct 14, 1988	San Angelo Savings Association	San Angelo, TX	$124.5M
Oct 14, 1988	Petroplex Savings Association	Midland, TX	$113.9M
Oct 14, 1988	Shamrock Federal Savings Bank	Shamrock, TX	$102.3M
Oct 12, 1988	First FSB of Indiana	Merrillville, IN	$271.5M
Oct 12, 1988	First FS&LA of Mayfield	Mayfield, KY	$51.5M
Oct 12, 1988	Capital FS&LA	Gary, IN	$51.4M
Sep 30, 1988	Guaranty FS&LA	Dallas, TX	$1.96B
Sep 30, 1988	First FS&LA	Austin, TX	$1.01B
Sep 30, 1988	Creditbanc Savings Association	Austin, TX	$593.1M
Sep 30, 1988	Franklin Savings Association	Austin, TX	$410.9M
Sep 30, 1988	Delta Savings Association of Texas	Alvin, TX	$202.6M
Sep 30, 1988	Great West Savings Bank	Austin, TX	$179.9M
Sep 30, 1988	Citizens FS&LA of New Castle	New Castle, IN	$51.9M
Sep 30, 1988	Adobe Savings Bank	Concord, CA	$48.1M
Sep 23, 1988	Champion Savings Association	Houston, TX	$656.7M
Sep 21, 1988	Loves Park FSB	Loves Park, IL	$40.8M
Sep 16, 1988	Guaranty National Bank	Austin, TX	$21.1M
Sep 9, 1988	Bay City FS&LA	Bay City, TX	$157.9M
Sep 9, 1988	Gulf Coast Savings Association	Richmond, TX	$59.9M
Sep 7, 1988	American S&LA	Stockton, CA	$30.16B
Sep 7, 1988	First Federal SB	Rogers, AR	$122.9M
Sep 6, 1988	Coosa FS&LA	Gadsden, AL	$72.1M
Sep 1, 1988	Arsenal Sa	Indianapolis, IN	$158.3M
Sep 1, 1988	Citizens FS&LA	Jacksonville, FL	$57.9M
Sep 1, 1988	United Sa of Central Indiana	Tipton, IN	$57.3M

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