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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
Jul 29, 1988 First Republicbank-Lufkin Lufkin, TX $224.9M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Abilene, N.A. Abilene, TX $218.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-El Paso, N.A. El Paso, TX $217.7M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Harlingen, N.A. Harlingen, TX $213.6M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Conroe, N.A. Conroe, TX $207.7M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Corsicana, N.A. Corsicana, TX $200.6M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Plano, N.A. Plano, TX $199.7M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Victoria Victoria, TX $175.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Odessa, N.A. Odessa, TX $175.0M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Mineral Wells Mineral Wells, TX $174.4M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Temple, N.A. Temple, TX $163.6M NCNB Texas National Bank
Jul 29, 1988 First REPUBLICBANK-MT. Pleasant Mt. Pleasant, TX $148.1M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Denison, N.A. Denison, TX $143.5M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Henderson, N.A. Henderson, TX $128.9M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Brownwood, N.A. Brownwood, TX $126.7M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Stephenville Stephenville, TX $124.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Cleburne, N.A Cleburne, TX $118.4M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-A&m College Station, TX $101.0M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Richmond, N.A Richmond, TX $99.9M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Ennis, N.A. Ennis, TX $96.1M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Greenville, N.A. Greenville, TX $85.9M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Clifton Clifton, TX $82.3M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Paris Paris, TX $79.3M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Hillsboro, N.A. Hillsboro, TX $68.1M NCNB Texas National Bank
Jul 29, 1988 American of Anadarko Anadarko, OK $65.1M —
Jul 29, 1988 Westlake Thrift & Loan Association Westlake Village, CA $55.2M Independence Bank
Jul 29, 1988 First Republicbank-Forney Forney, TX $54.6M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Malakoff, N.A Malakoff, TX $49.6M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Williamson CN Austin, TX $44.0M NCNB Texas National Bank
Jul 28, 1988 First Capitol Bank West Columbia, TX $50.0M First Bank
Jul 28, 1988 National Fidelity Bank of Shreveport Shreveport, LA $10.5M Hibernia National Bank
Jul 21, 1988 Platte Valley FS&LA Gering, NE $407.6M —
Jul 21, 1988 Union Bank & Trust Bartlesville, OK $115.4M First NB in Bartlesville
Jul 21, 1988 The First National Bank of Blooming Prairi Blooming Prairie, MN $20.0M First Amn BK Blooming PR
Jul 14, 1988 Allen National Bank Allen, TX $26.3M Benchmark Bank
Jul 14, 1988 The American Bank Palestine, TX $20.8M Royall NB of Palestine
Jul 14, 1988 The Security Bank Warner, OK $9.4M Vian State Bank
Jun 30, 1988 Mercantile Bank & Trust San Antonio, TX $76.2M Groos Bank National Assn
Jun 30, 1988 First National Bank Sherman, TX $24.5M First NB of Van Alstyne
Jun 30, 1988 Republic National Bank Norman, OK $24.3M Republic Bank of Norman
Jun 29, 1988 Claiborne Bank & Trust Company Homer, LA $13.1M Homer National Bank
Jun 23, 1988 Northwest Bank & Trust Houston, TX $97.6M Northwest Bank
Jun 23, 1988 Texas National Bank Victoria, TX $14.4M Texas NB of Victoria
Jun 23, 1988 Tri-Cities Bank & Trust Glenn Heights, TX $9.2M Abrams Centre National B
Jun 22, 1988 The Bank of Westminster Westminster, CO $6.5M First NB Westminster
Jun 17, 1988 The Liberty Bank of Seattle Seattle, WA $19.1M Emerald City Bank
Jun 16, 1988 Century National Bank Austin, TX $54.0M Community National Bank
Jun 16, 1988 Kingsland National Bank Kingsland, TX $14.1M Security State Bank&trus
Jun 9, 1988 Parkway Bank & Trust Dallas, TX $42.3M Deposit Guaranty Bank
Jun 3, 1988 Larue FS&LA Hodgenville, KY $12.0M —

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
Aug 1, 1988 (unnamed) — United Trust Bank
Aug 1, 1988 Coastal Banc Federal Savings and Loan Association TX Coastal Banc, S.S.B.
Aug 1, 1988 Delray Beach City Employees Credit Union FL Guardians Credit Union
Aug 1, 1988 Peoples Bank TN First American Bank, Clarksville
Aug 1, 1988 Co-Lith-Co Credit Union KY Louisville Metro Police Officers Credit Union
Aug 1, 1988 Neenah Paper Credit Union WI Linden Credit Union
Aug 1, 1988 Nicholls State Bank GA Southeastern Bank
Aug 1, 1988 Knights of Pythias-Detroit Lodge 55 Credit Union MI Vibe Credit Union
Aug 1, 1988 Bank of Contra Costa CA First Interstate Bank of California
Aug 1, 1988 First State Bank of Wyanet IL AMCORE Bank, Princeton
Aug 1, 1988 N.A. of the Deaf Credit Union MD Central Credit Union of Maryland
Aug 1, 1988 Southern California Floral Association Federal Credit Union CA Am Federal Credit Union
Aug 1, 1988 Building Trades Credit Union MI Elga Credit Union
Aug 1, 1988 FirstBank TX FirstBank
Aug 1, 1988 Bank of Oklahoma Grove OK BOKF, N.A.
Aug 1, 1988 Eas Employees Credit Union MO Alliance Credit Union
Aug 1, 1988 First Southern Bank TN First American National Bank
Aug 1, 1988 Memphis Refinery Employees Federal Credit Union TN Southern Security Federal Credit Union
Aug 1, 1988 Beverly Savings Bank MA Warren Five Cents Savings Bank
Aug 1, 1988 Sherry Lane National Bank TX Metropolitan National Bank
Aug 1, 1988 Commercial National Bank OH The Fifth Third Bank of Northwestern Ohio, National Association
Aug 1, 1988 Saint Anthony Parish Credit Union, Inc. OH Lormet Community Federal Credit Union
Jul 31, 1988 Columbian Financial Corporation KS Columbian Financial Corporation
Jul 31, 1988 Topeka Bank Shares, Inc. KS Columbian Financial Corporation
Jul 31, 1988 CRG Employees Federal Credit Union NJ Aspire Federal Credit Union
Jul 30, 1988 Newco 1 MN PB Bancorp of Cedar Rapids, Inc.
Jul 30, 1988 Nevada County National Bank CA The Bank of Commerce, National Association
Jul 30, 1988 Merit Savings Bank CA Charter Savings Bank, FSB
Jul 30, 1988 Mutual Savings and Loan Association IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 The Mitsubishi Bank of California CA The Bank of California, National Association
Jul 30, 1988 Franklin County Ga Fcu GA Stephens-Franklin Teachers Federal Credit Union
Jul 30, 1988 Valley Bank Middleton WI Valley Bank
Jul 30, 1988 Norwest Bank Grand Rapids, National Association MN Norwest Bank Minnesota North, National Association
Jul 30, 1988 Valley Bank Monona Grove WI Valley Bank
Jul 30, 1988 Republic Savings, A Federal Savings and Loan Association IL River Valley Savings Bank
Jul 30, 1988 Norwest Bank Albert Lea, National Association MN Norwest Bank Minnesota South Central, National Association
Jul 30, 1988 Norwest Bank Austin, National Association MN Norwest Bank Minnesota South Central, National Association
Jul 30, 1988 Saint Margarets Montgomery Fcu AL Montgomery Va Federal Credit Union
Jul 30, 1988 United Jersey Bank/Franklin State NJ United Jersey Bank/Central, National Association
Jul 30, 1988 Colonial Bank of Granite City IL Magna Bank of Madison County
Jul 30, 1988 Potomac Bancorp, Inc. IL City Financial Bancorp, Inc.
Jul 30, 1988 Galva Federal Savings and Loan Association IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 Norwest Bank Dodge Center MN Norwest Bank Minnesota South, National Association
Jul 30, 1988 Valley Bank Brooklyn WI Valley Bank
Jul 30, 1988 Norwest Bank Litchfield, National Association MN Norwest Bank Minnesota Central, National Association
Jul 30, 1988 Norwest Bank Two Harbors, National Association MN Norwest Bank Minnesota North, National Association
Jul 30, 1988 Home Federal Savings and Loan Association of Peoria IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 The First National Bank of Mondovi WI Alliance Bank
Jul 30, 1988 Norwest Bank Sauk Rapids, National Association MN Norwest Bank Minnesota Central, National Association
Jul 30, 1988 Norwest Bank Winona, National Association MN Norwest Bank Minnesota South, 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

Browse adjacent years: 1987 · 1989

Or jump to a category: Failures · Mergers · Enforcement · Assistance