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
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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