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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
Mar 3, 1988 The Home State Bank Russell, KS $59.9M First NB&T Co of Salina
Mar 3, 1988 Flower Mound Bank Flower Mound, TX $17.4M Security Bank
Feb 25, 1988 Harris County Bank Houston, N.A. Houston, TX $80.7M Omnibanc South National
Feb 25, 1988 American National Bank Stafford, TX $31.3M Park NB of Houston
Feb 25, 1988 Collin County State Bank Melissa, TX $12.5M Willow Bend National Ban
Feb 18, 1988 The Farmers & Merchants BK of Hill City Hill City, KS $16.5M Farmers&merchants BK Hil
Feb 18, 1988 Mustang Community Bank Mustang, OK $9.4M First National Bank of M
Feb 12, 1988 The First State Bank White Cloud, MI $36.4M Peoples STB of St Joseph
Feb 12, 1988 Global Bank Hialeah, FL $21.7M Ocean Bank
Feb 12, 1988 Basin State Bank Vernal, UT $12.0M Zions First National Ban
Feb 11, 1988 First Houston Bank, N.A. Houston, TX $33.2M Texas Commerce Bank N.A.
Feb 11, 1988 First State Bank Oilton, OK $13.2M American NB of Bristow
Feb 5, 1988 Bank of Dallas Dallas, TX $207.8M Deposit Guaranty Bank
Feb 3, 1988 The Bank of Louisburg Louisburg, KS $20.7M Peoples NB&T Ottawa
Jan 29, 1988 The Trust Bank Hialeah, FL $164.5M Republic NB of Miami
Jan 29, 1988 Territory S&LA Seminole, OK $31.2M —
Jan 28, 1988 Port City Bank Houston, TX $60.7M Channelview Bank
Jan 28, 1988 Houston Commerce Bank Houston, TX $41.0M —
Jan 22, 1988 Bank of Casper Casper, WY $6.1M First Wyoming Bank Caspe
Jan 21, 1988 United Mercantile Bank Shreveport, LA $86.3M Hibernia National Bank
Jan 21, 1988 Northwest Bank Dallas, TX $58.4M American Bank of Haltom
Jan 21, 1988 Sam Houston Nat'L Bank of Walker Huntsville, TX $37.6M Huntsville National Bank
Jan 21, 1988 Louisiana Commercial Bank Madisonville, LA $26.8M Pontchartrain State Bank
Jan 21, 1988 Williston Basin State Bank Williston, ND $14.0M First NB&T Co of Willist
Jan 21, 1988 Cedar Vale State Bank Cedar Vale, KS $11.7M Chisholm Trail State Ban
Jan 20, 1988 Aredale State Bank Aredale, IA $9.6M First Security Bank&trus
Jan 15, 1988 First Savings of East Texas San Augustine, TX $61.7M —
Jan 14, 1988 Colonial Bank New Orleans, LA $50.2M Pontchartrain State Bank
Jan 14, 1988 Balboa National Bank National City, CA $29.3M —
Jan 14, 1988 The Moran National Bank Moran, TX $17.2M Peoples State Bank
Jan 8, 1988 The North American Bank Phoenix, AZ $32.3M Columbia Bank
Jan 7, 1988 Commerce Bank of Plano Plano, TX $35.3M Quinlan State 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
Dec 31, 1988 Cal America Savings and Loan Association, a Federal Savings and Loan Association CA Columbus Savings, a Federal Savings and Loan Association
Dec 31, 1988 Premier Bank - Acadiana, National Association LA Bank One, Louisiana, National Association
Dec 31, 1988 Cosmopolitan Financial Services, Inc. IL Edgemark Financial Corporation
Dec 31, 1988 Citizens State Bank of Green Isle MN MidAmerica Bank Chaska
Dec 31, 1988 Valley Bank and Trust Company WV (unnamed)
Dec 31, 1988 (unnamed) — Bank One, Louisiana, National Association
Dec 31, 1988 South FL SVG FS&LA FL Southeast Bank for Savings, A FSB
Dec 31, 1988 Edgemark Financial Corporation IL Edgemark Financial Corporation
Dec 31, 1988 The First National Bank of Peckville PA PNC Bank, Northeast PA
Dec 31, 1988 First Federal Savings and Loan Association of Elgin IL First Federal of Elgin, F.S.A.
Dec 31, 1988 Farmers State Bank KS First Kansas Bank
Dec 31, 1988 Colorado Springs Security Pacific Industrial Bank CO Security Pacific Finance System Incorporated
Dec 31, 1988 Peoples Exchange Bank WI Valley Bank, Menomonie
Dec 31, 1988 Union National Corporation PA Integra Financial Corporation
Dec 31, 1988 Peoples Bank PA Community Banks, National Association
Dec 31, 1988 (unnamed) — Community Bank
Dec 31, 1988 Princeton Applied Research Federal Credit Union NJ Edifi Federal Credit Union
Dec 31, 1988 (unnamed) — Firstar Bank, National Association
Dec 31, 1988 Fort Drum Federal Credit Union NY Americu Credit Union
Dec 31, 1988 The Pen Argyl National Bank PA Lafayette Ambassador Bank
Dec 31, 1988 Pennbancorp PA Integra Financial Corporation
Dec 31, 1988 Braeburn Steel Employees Federal Credit Union PA Western Pa Federal Credit Union
Dec 31, 1988 Vermont Holding Corporation MA Key Bancshares of Vermont Inc.
Dec 31, 1988 The Premier Bank of South Louisiana LA Bank One, Louisiana, National Association
Dec 31, 1988 Tracy-Collins Bank and Trust Company UT U.S. Bank of Utah
Dec 31, 1988 XYZ Acquisition Corp. NY Irving Bank Corporation
Dec 31, 1988 Marine Midland Properties Corporation NY HSBC USA Inc.
Dec 31, 1988 United Federal Savings & Loan Association SD Home Federal Bank
Dec 31, 1988 Peoples Safe Deposit Bank, Saint Clair PA Community Banks, National Association
Dec 30, 1988 Farmers and Merchants Bank AR First National Bank of Eastern Arkansas
Dec 30, 1988 First Wyoming Bancorporation WY Key Bancshares of Wyoming, Inc.
Dec 30, 1988 Charter National Bank - Southwest TX Charter National Bank - Houston
Dec 30, 1988 Nicholson Voting Trust Agreement PA Comm Bancorp, Inc.
Dec 30, 1988 First City Bank-Forest Hill TX First City, Texas - Dallas
Dec 30, 1988 Arrowhead Federal Savings and Loan Association OK Equity Bank for Savings, F.A.
Dec 30, 1988 First City National Bank of Colleyville TX First City, Texas - Dallas
Dec 30, 1988 Keystone Savings & Loan Association TX Pacific Southwest Bank
Dec 30, 1988 City Bank-Rankin IL City Potomac Bank
Dec 30, 1988 First City Bank of Lewisville TX First City, Texas - Dallas
Dec 30, 1988 First City Bank-Central Arlington, National Association TX First City, Texas - Dallas
Dec 30, 1988 Columbia Savings, a, Federal Savings and Loan Association CO Columbia Savings, a Federal Savings and Loan Association
Dec 30, 1988 Doss Financial Bancshares, Inc. TX Texasbanc Holding Co.
Dec 30, 1988 First City Bank of Plano, National Association TX First City, Texas - Dallas
Dec 30, 1988 (unnamed) — First Interstate Bank of California
Dec 30, 1988 First City National Bank of Fort Worth TX First City, Texas - Dallas
Dec 30, 1988 First City National Bank of Arlington TX First City, Texas - Dallas
Dec 29, 1988 Landmark Bank of St. Clair County IL Magna Bank of Illinois
Dec 29, 1988 Landmark Bank of Mascoutah IL Magna Bank of Illinois
Dec 29, 1988 Landmark Bank of Edgemont IL Magna Bank of Illinois
Dec 29, 1988 First National Bank MN First National Bank

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