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
Jun 2, 1988	Guaranty Bank	Dallas, TX	$82.1M	Red Oak State Bank
Jun 2, 1988	River Plaza National Bank	Forth Worth, TX	$41.8M	Tarrant Bank
Jun 2, 1988	Williamstown Bank, N.A.	Houston, TX	$23.0M	City National Bank
Jun 2, 1988	Security Bank of Boulder	Boulder, CO	$14.1M	First NB in Boulder
Jun 2, 1988	Security Bank of Aurora	Aurora, CO	$10.9M	Security Bank of Colorad
Jun 2, 1988	Community State Bank	Whiting, IA	$5.1M	Sloan State Bank
May 27, 1988	Sandy State Bank	Sandy, UT	$8.9M	Zions First National Ban
May 26, 1988	The First State Bank	Rockwall, TX	$39.9M	Community Bank
May 26, 1988	First National Bank of Kingswood	Kingswood, TX	$16.1M	Interstate Bank North
May 26, 1988	Lone Star Bank	Harris County (Bayto, TX	$13.0M	Citizens B&T Co Baytown
May 24, 1988	Universal S&LA	Scottsdale, AZ	$116.8M	—
May 19, 1988	National Bank of Texas	Houston, TX	$19.4M	Old Braeswood National B
May 13, 1988	Cardinal Savings Bank	Newport, NC	$93.9M	—
May 13, 1988	Westside National Bank	Houston, TX	$32.2M	Compass Bank Houston N.A.
May 12, 1988	The First State Bank	Childress, TX	$14.9M	Citizens STB of Dalhart
May 6, 1988	Forest City Bank & Trust Co.	Forest City, IA	$26.6M	Liberty Bank&trust
May 5, 1988	Union Bank & Trust of Dallas	Dallas, TX	$36.7M	Cornerstone Bank N.A.
May 5, 1988	Lincoln National Bank	Arlington, TX	$13.0M	Tarrant Bank
Apr 29, 1988	American FS&LA	Anderson, IN	$145.8M	—
Apr 29, 1988	Oak Park Bank	Oak Park Heights, MN	$21.1M	St Croix Valley Bank
Apr 22, 1988	The Village Bank	Great Falls, MT	$21.7M	Village Bank of Great F.A.
Apr 22, 1988	Unity Bank	Dayton, OH	$7.1M	First National Bank
Apr 21, 1988	Texas National Bank	Austin, TX	$18.5M	—
Apr 21, 1988	Citizens National Bank	Colorado Springs, CO	$18.3M	State B&T of Co Springs
Apr 19, 1988	MC Allen State Bank	McAllen, TX	$580.0M	First City NB of Houston
Apr 15, 1988	Colonial Thrift & Loan Association	Culver City, CA	$26.8M	Southern Pacific TH&L As
Apr 15, 1988	Metropolitan Industrial Bank	Denver, CO	$12.4M	Resources Industrial Ban
Apr 14, 1988	CY-Fair Bank, N.A.	Harris County, TX	$13.9M	Charter NB Willowbrook
Apr 14, 1988	Jennings Bank	Jennings, KS	$7.1M	Bank of Oberlin
Apr 8, 1988	First Federal of Shawnee	Shawnee, OK	$130.7M	—
Apr 8, 1988	Citizens State Bank of Eagle Bend	Eagle Bend, MN	$10.0M	Lake Country State Bank
Apr 7, 1988	Central National Bank	Dallas, TX	$15.9M	Deposit Guaranty Bank
Apr 7, 1988	Home State Bank	Trent, TX	$5.4M	Farmers&merchants NB Mer
Mar 31, 1988	Union Bank & Trust Company	Oklahoma City, OK	$182.5M	Union Bank&trust Co
Mar 31, 1988	First Bank & Trust	Tomball, TX	$68.7M	Hamilton National Bank
Mar 25, 1988	First National Bank of Del City	Del City, OK	$30.9M	Lincoln National Bank
Mar 24, 1988	Century Bank	Tulsa, OK	$70.8M	Fourth NB of Tulsa
Mar 24, 1988	Cashion Community Bank	Cashion, OK	$6.7M	Community State Bank
Mar 18, 1988	State Bank of Morgan	Morgan, MN	$20.3M	Farmers&merchants STB SP
Mar 18, 1988	Citizens State BK of Gibbon	Gibbon, MN	$15.1M	Minnesota Valley Bank
Mar 17, 1988	First National Bank of Port Allen	Port Allen, LA	$19.6M	Iberville Trust&savings
Mar 11, 1988	First FS&LA of Paducah	Paducah, KY	$130.9M	—
Mar 11, 1988	First Intercounty Bank of New York	New York, NY	$44.1M	Community NB&T Co of NY
Mar 10, 1988	The First Nat Bank & Trust Co. of Cushing	Cushing, OK	$60.3M	American NB of Bristow
Mar 10, 1988	First American Bank & Trust of Baytown	Baytown, TX	$38.2M	Citizens B&T Co Baytown
Mar 10, 1988	Hayesville Savings Bank	Hayesville, IA	$38.0M	Farmers Savings Bank
Mar 10, 1988	Security Bank of Denver, N.A.	Denver, CO	$17.0M	City Center National Ban
Mar 10, 1988	First American Bank & Trust of Manvel	Manvel, TX	$12.3M	First National Bank of a
Mar 10, 1988	First American Bank & TR of Friendswood	Friendswood, TX	$6.4M	—
Mar 10, 1988	Frenchman Valley Bank	Palisade, NE	$2.8M	—

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

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