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
Sep 1, 1988	Speedkraft Credit Union	CO	Fidelis Catholic Credit Union
Sep 1, 1988	Commerce Bank of Moberly, National Association	MO	Commerce Bank, National Association
Sep 1, 1988	First National Bank & Trust Company of Fremont	NE	First Bank National Association
Sep 1, 1988	U F C W Local 37 Federal Credit Union	IN	Policemen's Federal Credit Union
Sep 1, 1988	Brenton State Bank	IA	Brenton Bank and Trust Company
Sep 1, 1988	Dairy & Food Services Federal Credit Union	CT	Finex Credit Union
Aug 31, 1988	Lincoln University Federal Credit Union	MO	Missouri Credit Union
Aug 31, 1988	Corporate Bankshares, Inc.	KS	IV Corporate Woods Acquisition, Inc.
Aug 31, 1988	C & P Bank Corporation of Pensacola	FL	Bank South Pensacola, Inc.
Aug 31, 1988	Citicorp Savings Company	NE	Citicorp Savings and Industrial Bank
Aug 31, 1988	Citicorp Savings Company	MN	Citicorp Savings and Industrial Bank
Aug 30, 1988	Monroe Bancshares, Inc.	TN	First Virginia Banks, Inc.
Aug 27, 1988	Northwest Federal Savings and Loan Association	ID	WaFd Bank
Aug 27, 1988	Peoples Savings & Loan Association Federal Association	MN	Metropolitan Federal Bank of Iowa
Aug 27, 1988	First Federal Savings & Loan Association of Hibbing	MN	Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988	First Federal Savings & Loan Association of Grand Rapids	MN	Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988	Washington Federal Savings Bank	MN	Metropolitan Federal Bank of Iowa
Aug 27, 1988	Commerce FSB	TN	Security Trust Federal Savings and Loan Association
Aug 26, 1988	Barber Employees Federal Credit Union	SD	Dakota Star Federal Credit Union
Aug 25, 1988	Nadisco Credit Union, Inc.	OH	Trupartner Credit Union, Inc.
Aug 24, 1988	Bassick Employees Federal Credit Union	CT	McKesson Federal Credit Union
Aug 23, 1988	Northumberland County Credit Union	PA	Pinpoint Federal Credit Union
Aug 22, 1988	Bank One, Ashland	OH	Bank One, Mansfield
Aug 20, 1988	First Bank Bloomington	MN	U.S. Bank National Association
Aug 20, 1988	Gulf National Bank	MS	The Peoples Bank, Biloxi, Mississippi
Aug 19, 1988	First Pacific Corporation	CA	(unnamed)
Aug 19, 1988	Hibernia Bancshares Corporation	CA	(unnamed)
Aug 19, 1988	Taunton Savings Bank	MA	New Bedford Institution for Savings
Aug 19, 1988	First Bank and Trust	AL	First Bank and Trust
Aug 18, 1988	Pittsburgh Tube Employees Federal Credit Union	PA	Freedom United Federal Credit Union
Aug 17, 1988	First State Financial Corporation of Rockford	IL	Nwib Acquisition Corporation
Aug 17, 1988	Crown Crafts Employees Credit Union	GA	LGE Community Credit Union
Aug 15, 1988	Sovran Bank/Williamson County	TN	NationsBank of Tennessee, National Association
Aug 13, 1988	Union National Bank	TN	First Union National Bank of Tennessee
Aug 13, 1988	First Wisconsin Bank of Eldorado	WI	Firstar Bank Fond Du Lac, National Association
Aug 13, 1988	Security Trust	CT	First Union Bank of Connecticut
Aug 13, 1988	M&I Bank of Middleton	WI	M&I Bank of Southern Wisconsin
Aug 12, 1988	Capitol Federal Savings of America	IL	Standard Federal Bank for Savings
Aug 10, 1988	First Federal Savings and Loan Association of Taylorville	IL	United Savings of America
Aug 9, 1988	American Motors Employees Federal Credit Union	MI	Cornerstone Community Financial Credit Union
Aug 8, 1988	Holy Name Credit Union	NE	Greater Omaha Federal Credit Union
Aug 8, 1988	Raywood Federal Credit Union	TX	Liberty County Teachers Federal Credit Union
Aug 6, 1988	Camden County Bank	MO	Central Bank of Lake of the Ozarks
Aug 4, 1988	Freedom Federal Savings Bank	IL	Household Bank, F.S.B.
Aug 2, 1988	State Record Employees Credit Union	SC	Palmetto Citizens Federal Credit Union
Aug 1, 1988	Skinner Employees Credit Union	NE	Centris Federal Credit Union
Aug 1, 1988	Arco Bakersfield Federal Credit Union	CA	Valley Strong Credit Union
Aug 1, 1988	Boc Bancorp, Inc.	TN	Lawrence Bancshares, Inc.
Aug 1, 1988	FirstBank of Port Isabel, National Association	TX	FirstBank
Aug 1, 1988	National Safety Council Staff Credit Union	IL	Alero Financial Credit Union

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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