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
Oct 1, 1988	U. S. Steel Vandergrift Federal Credit Union	PA	Kennametal Employees Federal Credit Union
Oct 1, 1988	First National Bank-South	TX	First National Bank of Huntsville
Oct 1, 1988	MKT San Antonio Credit Union	TX	Generations Community Federal Credit Union
Oct 1, 1988	Jasco Empl Cu	TX	Resource One Credit Union
Oct 1, 1988	First Wyoming Bank - Wright	WY	Key Bank of Wyoming - Seventh and Douglas Highway, Gillette, Wyoming 827
Oct 1, 1988	Rcac Federal Credit Union	CA	Patelco Credit Union
Oct 1, 1988	Star Bank, Gallipolis	OH	Star Bank, National Association, Tri State
Oct 1, 1988	Crocker Employees Federal Credit Union	CA	Monterra Credit Union
Oct 1, 1988	U.S. Postal Service Federal Credit Union	CA	U S Postal Service Federal Credit Union
Oct 1, 1988	State Bank and Trust Company	GA	FLAG Bank
Oct 1, 1988	Metropolitan Medical Center Credit Union	MN	Associated Healthcare Credit Union
Oct 1, 1988	Peoria Graphic Arts Credit Union	IL	Citizens Equity First Credit Union
Oct 1, 1988	(unnamed)	—	Premier Bank - Acadiana, National Association
Oct 1, 1988	Calhoun-Gordon County Educational Credit Union	GA	LGE Community Credit Union
Oct 1, 1988	First Bank of Troy	ID	KeyBank National Association
Oct 1, 1988	Durr-Fillauer Cu	AL	Americas First Federal Credit Union
Oct 1, 1988	Bergner Associates Credit Union	IL	Citizens Equity First Credit Union
Oct 1, 1988	Key Bank of Long Island	NY	Key Bank of Southeastern New York National Association
Oct 1, 1988	Citizens Federal Savings and Loan Association of Newcastle	IN	Ameriana Bank
Oct 1, 1988	Dassel State Bank	MN	Marquette Bank Hutchinson, National Association
Oct 1, 1988	Saint Patrick Parish Credit Union	IL	Redbrand Credit Union
Oct 1, 1988	First Wyoming Bank - Meeteetse	WY	Key Bank of Wyoming - 1130 Sheridan Avenue, Cody, Wyoming 82414
Oct 1, 1988	Sun Company Employees Credit Union	CA	1st Valley Credit Union
Oct 1, 1988	United Savings and Loan Association of Central Indiana	IN	First American Bank
Oct 1, 1988	(unnamed)	—	Bank One, Louisiana, National Association
Oct 1, 1988	Uscs Employees Federal Credit Union	NJ	Philadelphia Federal Credit Union
Oct 1, 1988	The State National Bank of New Iberia	LA	Premier Bank - Acadiana, National Association
Oct 1, 1988	USTrust/Essex	MA	USTrust
Oct 1, 1988	Mispoco Empl Cu	MS	Powerco Federal Credit Union
Oct 1, 1988	FRY's Employees Federal Credit Union	AZ	Sunwest Federal Credit Union
Oct 1, 1988	Health Care Credit Union	WA	Rainier Pacific Savings Bank
Oct 1, 1988	Murfreesboro Veterans Administration Federal Credit Union	TN	Ascend Federal Credit Union
Oct 1, 1988	Michigan Bank - Mid South	MI	Republic Bank
Oct 1, 1988	I.B. Mortgage Network, Inc.	CA	Imperial Bank
Oct 1, 1988	Gae Members Cu	GA	Pinnacle Credit Union
Oct 1, 1988	IB&T Corporation	ID	Key Bancshares of Idaho, Inc.
Oct 1, 1988	Professional Financial Services Credit Union	IA	Financial Plus Credit Union
Oct 1, 1988	Amalgamated Associates Company	IL	Amalgamated Investments Company
Oct 1, 1988	First Bancorp of Mascoutah, Ltd.	IL	First Bancorp of Mascoutah, Ltd.
Oct 1, 1988	Modoc County Grangers Credit Union	CA	Sierra Central Credit Union
Oct 1, 1988	Saint Louis De France Federal Credit Union	MA	St. Anne's Credit Union
Oct 1, 1988	(unnamed)	—	Norwest Bank Cedar Rapids, National Association
Oct 1, 1988	First Federal Savings Bank	SC	South Carolina Federal Savings Bank
Oct 1, 1988	Phillips 66 Employees Credit Union	MO	Arsenal Credit Union
Oct 1, 1988	Torrey Pines Federal Credit Union	CA	San Diego County Credit Union
Oct 1, 1988	Bedford County Bank	TN	First American Bank, Murfreesboro
Oct 1, 1988	Heritage Federal Savings Bank	IN	Railroadmen's Federal Savings and Loan Association of Indianapolis
Oct 1, 1988	Moores Employees Federal Credit Union	VA	Tremont Credit Union
Oct 1, 1988	Metro District #1 Federal Credit Union	CO	Canvas Credit Union
Sep 30, 1988	First City Bank of Northline	TX	First City, Texas - Houston, N.A.

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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