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 24, 1988	The Frankton Savings and Loan Association	IN	Union Federal Savings Bank of Frankton
Sep 24, 1988	Citizens National Bank of Southington	CT	First Union Bank of Connecticut
Sep 24, 1988	The Bank of Ashippun	WI	F&M Bank of Slinger
Sep 23, 1988	MBank Corpus Christi South, National Association	TX	Corpus Christi National Bank
Sep 23, 1988	Washington Hospital Federal Credit Union	PA	Frick Financial Federal Credit Union
Sep 22, 1988	Loves Park FSB	IL	Homebanc, A Federal Savings Bank
Sep 21, 1988	Central Bank of Craig, N.A.	CO	First Security Bank of Craig
Sep 20, 1988	IV Corporate Woods Acquisition, Inc.	KS	Fourth Financial Corporation
Sep 19, 1988	(unnamed)	—	Mark Twain Illinois Bank
Sep 19, 1988	Crossroads National Bank	WV	Bank of Raleigh
Sep 18, 1988	First Midwest Bank/Lake County	IL	First Midwest Bank, National Association
Sep 18, 1988	First Midwest Bank/Zion	IL	First Midwest Bank, National Association
Sep 17, 1988	The Security Bank	WV	Community Bank & Trust, National Association
Sep 17, 1988	Ultimate Savings Bank Federal Savings Bank	VA	Citizens Federal Bank, A FSB
Sep 16, 1988	Shelbina Mercantile Bank	MO	Mercantile Bank of Northern Missouri
Sep 16, 1988	City/Town Municipal Employees Federal Credit Union	NY	Ufirst Federal Credit Union
Sep 16, 1988	Everybodys Credit Union	OH	Trupartner Credit Union, Inc.
Sep 16, 1988	Freedom Federal Savings and Loan Association	OR	WaFd Bank
Sep 16, 1988	Salisbury Mercantile Bank	MO	Mercantile Bank of Northern Missouri
Sep 15, 1988	Coosa FS&LA	AL	Regions Bank of Louisiana
Sep 13, 1988	Southeastern Fcu	FL	Jetstream Federal Credit Union
Sep 12, 1988	(unnamed)	—	River City Bank
Sep 11, 1988	First Midwest Bank/North Chicago, a National Association	IL	First Midwest Bank, National Association
Sep 11, 1988	First Midwest Bank/Lake Forest, a National Association	IL	First Midwest Bank, National Association
Sep 10, 1988	Acco Bridgeport Employees Federal Credit Union	CT	McKesson Federal Credit Union
Sep 10, 1988	Bank of Hunnewell	MO	Alliant Bank
Sep 10, 1988	The First National Bank of Tuskaloosa	AL	AmSouth Bank
Sep 9, 1988	Robanco Financial Corp.	IN	Norwest Indiana, Inc.
Sep 9, 1988	The First National Bank of Rochester	IN	Norwest Bank Rochester
Sep 9, 1988	North Wilkesboro Federal Savings and Loan Association	NC	Wachovia Bank, National Association
Sep 8, 1988	Fidelity Federal Savings and Loans Association of Berwyn	IL	United Savings of America
Sep 6, 1988	The Colonial Bank of Hartselle	AL	Colonial Bank
Sep 3, 1988	First Security Bank	MO	(unnamed)
Sep 2, 1988	Monwar Employees Federal Credit Union	WV	National Employees Federal Credit Union
Sep 2, 1988	The Abington National Bank	MA	Granite Co-Operative Bank
Sep 2, 1988	Milford Building & Loan Association	DE	The Sussex Trust Company
Sep 2, 1988	Citizens FS&LA	FL	Citizens Federal Savings Association
Sep 1, 1988	First American National Bank	TN	First American National Bank
Sep 1, 1988	Goodyear Lawton Credit Union	OK	Communication Federal Credit Union
Sep 1, 1988	The First National Bank of Collinsville	IL	(unnamed)
Sep 1, 1988	Continental Illinois Trust Company of Sarasota, National Association	FL	Bank of America Trust Company of Florida, National Association
Sep 1, 1988	(unnamed)	—	Commerce Bank, National Association
Sep 1, 1988	Melbourne Savings Bank	IA	The First State Bank
Sep 1, 1988	Portage County Postal Employees Credit Union, Inc.	OH	Kent Credit Union, Inc.
Sep 1, 1988	P.A.B. Federal Credit Union	PA	Greater Pittsburgh Federal Credit Union
Sep 1, 1988	P W C Employees Federal Credit Union	IN	Financial Builders Federal Credit Union
Sep 1, 1988	Imco Credit Union	MO	United Consumers Credit Union
Sep 1, 1988	Marvel-York Credit Union	IL	Staley Credit Union
Sep 1, 1988	First Wyoming Bank-Hanna	WY	Key Bank of Wyoming - Fourth and Buffalo, Rawlins, Wyoming 82301
Sep 1, 1988	Bondshire Credit Union	WI	Park City Credit Union

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

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