Skip to main content

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 30, 1988 First City Bank - Almeda Genoa TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Medical Center, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Market Center, National Association TX First City, Texas - Dallas
Sep 30, 1988 First City Bank of Humble TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City National Bank in Grand Prairie TX First City, Texas - Dallas
Sep 30, 1988 First City Bank - Bear Creek TX First City, Texas - Houston, N.A.
Sep 30, 1988 Amoco Texas Coast Fcu TX Amoco Federal Credit Union
Sep 30, 1988 First City Bank-Westheimer, N.A. TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Farmers Branch TX First City, Texas - Dallas
Sep 30, 1988 Charter National Bank - Willowbrook TX Charter National Bank-Colonial
Sep 30, 1988 OMNIBANC North Belt, National Association TX OMNIBANK, National Association
Sep 30, 1988 First of America Bank-Michigan City IN First of America Bank - Northwest Indiana, National Association
Sep 30, 1988 First City Bank - Inwood Forest, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Fondren South TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Valley View TX First City, Texas - Dallas
Sep 30, 1988 First City Bank-Northwest Hills, National Association TX First City, Texas - Austin, N.A.
Sep 30, 1988 First City Bank - Northchase, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Westheimer Plaza, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Northeast, N. A. TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Bellaire, N.A. TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Gulfgate TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Westwood, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Gateway, National Association TX First City, Texas - Beaumont, N.A.
Sep 30, 1988 First City Bank-Central TX First City, Texas - Beaumont, N.A.
Sep 30, 1988 First City Bank - North Belt, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank of Highland Village TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank of Garland, National Association TX First City, Texas - Dallas
Sep 30, 1988 First National Bank TX United Bank of Waco, N.A.
Sep 30, 1988 Southwest Bank TX United Bank of Waco, N.A.
Sep 30, 1988 Safety Federal Savings and Loan Association of Kansas City MO Home Federal Savings of Kansas City
Sep 30, 1988 Comunicorp, Inc. NY Community Financial System, Inc.
Sep 30, 1988 Sabine Bank TX United Bank of Waco, N.A.
Sep 30, 1988 First City Bank of Clear Lake TX First City, Texas - Houston, N.A.
Sep 30, 1988 (unnamed) — First City, Texas - San Antonio, N.A.
Sep 30, 1988 First Bancshares of Huntington, Inc. IN Society Bancorp of Indiana, Inc.
Sep 30, 1988 First City Bank - Windsor Park TX First City, Texas - San Antonio, N.A.
Sep 30, 1988 First City Bank of Richardson TX First City, Texas - Dallas
Sep 30, 1988 First City Bank - East Dallas TX First City, Texas - Dallas
Sep 30, 1988 First City Bank of Lancaster TX First City, Texas - Dallas
Sep 30, 1988 State National Bancorp of Frankfort, Inc. KY Whitaker Bancorp, Inc.
Sep 29, 1988 Alamo Express Federal Credit Union TX E M O T Federal Credit Union
Sep 29, 1988 Dana Detroit Employees Credit Union MI Motor City Co-Op Credit Union
Sep 28, 1988 Gibson Indianapolis Employees Federal Credit Union IN Indiana Members Credit Union
Sep 26, 1988 South Ridge Bank, Inc. NE West Gate Bank
Sep 24, 1988 Florida Legal Cu FL Fairwinds Credit Union
Sep 24, 1988 Peoples Bancshares Corporation OH Norwest Indiana, Inc.
Sep 24, 1988 SouthTrust Bank of Arab AL SouthTrust Bank of Marshall County, National Association
Sep 24, 1988 Arsenal Savings Association, Federal Association IN Union Federal Bank of Indianapolis
Sep 24, 1988 Merchants and Southern Bank of Clay County FL Merchants & Southern Bank
Sep 24, 1988 First Bank of Channahon IL Merchants and Manufacturers Bank

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

FDIC Open-Bank Assistance in 1988

Date Institution HQ Assets
Sep 1, 1988 Fidelity FS&LA Berwyn, IL $37.1M
Sep 1, 1988 Frankton FS&LA Frankton, IN $30.6M
Aug 31, 1988 Midamerica FS&LA Tulsa, OK $482.5M
Aug 31, 1988 Mutual FS&LA Oklahoma City, OK $173.0M
Aug 31, 1988 Capitol FSB Oklahoma City, OK $117.4M
Aug 31, 1988 First Oklahoma Savings Bank Tulsa, OK $37.3M
Aug 26, 1988 Pioneer FS&LA in Mason City Mason City, IA $314.0M
Aug 26, 1988 Washington FSB of Stillwater Stillwater, MN $295.8M
Aug 26, 1988 Peoples S&LA Owantonna, MN $210.8M
Aug 26, 1988 Homestate S&LA Hayward, CA $182.1M
Aug 26, 1988 First FS&LA of Grand Rapids Grand Rapids, MN $105.9M
Aug 26, 1988 First FS&LA of Brainerd Brainerd, MN $86.6M
Aug 26, 1988 First FS&LA of Hibbing Hibbing, MN $47.3M
Aug 26, 1988 Commerce FSB Knoxville, TN $40.1M
Aug 26, 1988 Northwest FS&LA Boise, ID $26.7M
Aug 19, 1988 Summit Savings Association Dallas, TX $185.9M
Aug 18, 1988 Richardson Savings Association Dallas, TX $706.1M
Aug 18, 1988 Majestic Savings Association McKinney, TX $283.5M
Aug 18, 1988 Paris S&LA Paris, TX $254.1M
Aug 18, 1988 Longview S&LA Longview, TX $145.6M
Aug 18, 1988 Skyline Savings Association Dallas, TX $118.2M
Aug 18, 1988 American Banc Savings Associat Dallas, TX $62.8M
Aug 18, 1988 Irving S&LA Irving, TX $53.1M
Aug 18, 1988 Southland Savings Association Longview, TX $31.5M
Aug 18, 1988 Commerce FS&LA Commerce, TX $29.5M
Aug 18, 1988 Gladewater FS&LA Gladewater, TX $24.9M
Aug 11, 1988 Capitol FS&LA Evergreen Park, IL $229.1M
Aug 11, 1988 Western FS&LA Council Bluffs, IA $23.9M
Aug 11, 1988 First Federal Savings Bank Shenadoah, IA $20.7M
Aug 10, 1988 First FS&LA of Taylorville Taylorville, IL $34.6M
Aug 9, 1988 Security State Bank Casey, IA $15.4M
Aug 2, 1988 First of Longview Longview, WA $78.1M
Jul 28, 1988 Home FS&LA Peoria, IL $115.1M
Jul 28, 1988 Mutual FS&LA Canton, IL $30.4M
Jul 28, 1988 Galva FS&LA Galva, IL $12.8M
Jul 21, 1988 First Security SB Pleasant Hill, CA $176.5M
Jul 15, 1988 Oak Forest National Bank Longview, TX $7.4M
Jul 14, 1988 Texas Bank San Antonio, TX $57.2M
Jul 14, 1988 Texas Bank North, N.A. San Antonio, TX $5.8M
Jul 8, 1988 McLean S&LA McLean, VA $318.9M
Jun 24, 1988 Stanford S&LA Palo Alto, CA $73.5M
Jun 24, 1988 Lynnwood S&LA Lynnwood, WA $24.1M
Jun 22, 1988 First Financial a Savings Association of E El Paso, TX $325.7M
Jun 14, 1988 Bank of Imboden Imboden, AR $16.2M
Jun 6, 1988 Frontier Federal Savings Bank Dyersburg, TN $43.7M
Jun 2, 1988 Muskegon FS&LA Muskegon, MI $204.6M
May 26, 1988 Bluebonnet Sa of Texas Hempstead, TX $24.1M
May 25, 1988 First FS&LA of Hammonton Hammonton, NJ $237.6M
May 18, 1988 Lamar Savings Association Austin, TX $1.94B
May 18, 1988 Briercroft Savings Association Austin, TX $867.5M

Browse adjacent years: 1987 · 1989

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