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
Jun 2, 1988	Guaranty Bank	Dallas, TX	$82.1M	Red Oak State Bank
Jun 2, 1988	River Plaza National Bank	Forth Worth, TX	$41.8M	Tarrant Bank
Jun 2, 1988	Williamstown Bank, N.A.	Houston, TX	$23.0M	City National Bank
Jun 2, 1988	Security Bank of Boulder	Boulder, CO	$14.1M	First NB in Boulder
Jun 2, 1988	Security Bank of Aurora	Aurora, CO	$10.9M	Security Bank of Colorad
Jun 2, 1988	Community State Bank	Whiting, IA	$5.1M	Sloan State Bank
May 27, 1988	Sandy State Bank	Sandy, UT	$8.9M	Zions First National Ban
May 26, 1988	The First State Bank	Rockwall, TX	$39.9M	Community Bank
May 26, 1988	First National Bank of Kingswood	Kingswood, TX	$16.1M	Interstate Bank North
May 26, 1988	Lone Star Bank	Harris County (Bayto, TX	$13.0M	Citizens B&T Co Baytown
May 24, 1988	Universal S&LA	Scottsdale, AZ	$116.8M	—
May 19, 1988	National Bank of Texas	Houston, TX	$19.4M	Old Braeswood National B
May 13, 1988	Cardinal Savings Bank	Newport, NC	$93.9M	—
May 13, 1988	Westside National Bank	Houston, TX	$32.2M	Compass Bank Houston N.A.
May 12, 1988	The First State Bank	Childress, TX	$14.9M	Citizens STB of Dalhart
May 6, 1988	Forest City Bank & Trust Co.	Forest City, IA	$26.6M	Liberty Bank&trust
May 5, 1988	Union Bank & Trust of Dallas	Dallas, TX	$36.7M	Cornerstone Bank N.A.
May 5, 1988	Lincoln National Bank	Arlington, TX	$13.0M	Tarrant Bank
Apr 29, 1988	American FS&LA	Anderson, IN	$145.8M	—
Apr 29, 1988	Oak Park Bank	Oak Park Heights, MN	$21.1M	St Croix Valley Bank
Apr 22, 1988	The Village Bank	Great Falls, MT	$21.7M	Village Bank of Great F.A.
Apr 22, 1988	Unity Bank	Dayton, OH	$7.1M	First National Bank
Apr 21, 1988	Texas National Bank	Austin, TX	$18.5M	—
Apr 21, 1988	Citizens National Bank	Colorado Springs, CO	$18.3M	State B&T of Co Springs
Apr 19, 1988	MC Allen State Bank	McAllen, TX	$580.0M	First City NB of Houston
Apr 15, 1988	Colonial Thrift & Loan Association	Culver City, CA	$26.8M	Southern Pacific TH&L As
Apr 15, 1988	Metropolitan Industrial Bank	Denver, CO	$12.4M	Resources Industrial Ban
Apr 14, 1988	CY-Fair Bank, N.A.	Harris County, TX	$13.9M	Charter NB Willowbrook
Apr 14, 1988	Jennings Bank	Jennings, KS	$7.1M	Bank of Oberlin
Apr 8, 1988	First Federal of Shawnee	Shawnee, OK	$130.7M	—
Apr 8, 1988	Citizens State Bank of Eagle Bend	Eagle Bend, MN	$10.0M	Lake Country State Bank
Apr 7, 1988	Central National Bank	Dallas, TX	$15.9M	Deposit Guaranty Bank
Apr 7, 1988	Home State Bank	Trent, TX	$5.4M	Farmers&merchants NB Mer
Mar 31, 1988	Union Bank & Trust Company	Oklahoma City, OK	$182.5M	Union Bank&trust Co
Mar 31, 1988	First Bank & Trust	Tomball, TX	$68.7M	Hamilton National Bank
Mar 25, 1988	First National Bank of Del City	Del City, OK	$30.9M	Lincoln National Bank
Mar 24, 1988	Century Bank	Tulsa, OK	$70.8M	Fourth NB of Tulsa
Mar 24, 1988	Cashion Community Bank	Cashion, OK	$6.7M	Community State Bank
Mar 18, 1988	State Bank of Morgan	Morgan, MN	$20.3M	Farmers&merchants STB SP
Mar 18, 1988	Citizens State BK of Gibbon	Gibbon, MN	$15.1M	Minnesota Valley Bank
Mar 17, 1988	First National Bank of Port Allen	Port Allen, LA	$19.6M	Iberville Trust&savings
Mar 11, 1988	First FS&LA of Paducah	Paducah, KY	$130.9M	—
Mar 11, 1988	First Intercounty Bank of New York	New York, NY	$44.1M	Community NB&T Co of NY
Mar 10, 1988	The First Nat Bank & Trust Co. of Cushing	Cushing, OK	$60.3M	American NB of Bristow
Mar 10, 1988	First American Bank & Trust of Baytown	Baytown, TX	$38.2M	Citizens B&T Co Baytown
Mar 10, 1988	Hayesville Savings Bank	Hayesville, IA	$38.0M	Farmers Savings Bank
Mar 10, 1988	Security Bank of Denver, N.A.	Denver, CO	$17.0M	City Center National Ban
Mar 10, 1988	First American Bank & Trust of Manvel	Manvel, TX	$12.3M	First National Bank of a
Mar 10, 1988	First American Bank & TR of Friendswood	Friendswood, TX	$6.4M	—
Mar 10, 1988	Frenchman Valley Bank	Palisade, NE	$2.8M	—

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 1, 1988	Speedkraft Credit Union	CO	Fidelis Catholic Credit Union
Sep 1, 1988	Commerce Bank of Moberly, National Association	MO	Commerce Bank, National Association
Sep 1, 1988	First National Bank & Trust Company of Fremont	NE	First Bank National Association
Sep 1, 1988	U F C W Local 37 Federal Credit Union	IN	Policemen's Federal Credit Union
Sep 1, 1988	Brenton State Bank	IA	Brenton Bank and Trust Company
Sep 1, 1988	Dairy & Food Services Federal Credit Union	CT	Finex Credit Union
Aug 31, 1988	Lincoln University Federal Credit Union	MO	Missouri Credit Union
Aug 31, 1988	Corporate Bankshares, Inc.	KS	IV Corporate Woods Acquisition, Inc.
Aug 31, 1988	C & P Bank Corporation of Pensacola	FL	Bank South Pensacola, Inc.
Aug 31, 1988	Citicorp Savings Company	NE	Citicorp Savings and Industrial Bank
Aug 31, 1988	Citicorp Savings Company	MN	Citicorp Savings and Industrial Bank
Aug 30, 1988	Monroe Bancshares, Inc.	TN	First Virginia Banks, Inc.
Aug 27, 1988	Northwest Federal Savings and Loan Association	ID	WaFd Bank
Aug 27, 1988	Peoples Savings & Loan Association Federal Association	MN	Metropolitan Federal Bank of Iowa
Aug 27, 1988	First Federal Savings & Loan Association of Hibbing	MN	Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988	First Federal Savings & Loan Association of Grand Rapids	MN	Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988	Washington Federal Savings Bank	MN	Metropolitan Federal Bank of Iowa
Aug 27, 1988	Commerce FSB	TN	Security Trust Federal Savings and Loan Association
Aug 26, 1988	Barber Employees Federal Credit Union	SD	Dakota Star Federal Credit Union
Aug 25, 1988	Nadisco Credit Union, Inc.	OH	Trupartner Credit Union, Inc.
Aug 24, 1988	Bassick Employees Federal Credit Union	CT	McKesson Federal Credit Union
Aug 23, 1988	Northumberland County Credit Union	PA	Pinpoint Federal Credit Union
Aug 22, 1988	Bank One, Ashland	OH	Bank One, Mansfield
Aug 20, 1988	First Bank Bloomington	MN	U.S. Bank National Association
Aug 20, 1988	Gulf National Bank	MS	The Peoples Bank, Biloxi, Mississippi
Aug 19, 1988	First Pacific Corporation	CA	(unnamed)
Aug 19, 1988	Hibernia Bancshares Corporation	CA	(unnamed)
Aug 19, 1988	Taunton Savings Bank	MA	New Bedford Institution for Savings
Aug 19, 1988	First Bank and Trust	AL	First Bank and Trust
Aug 18, 1988	Pittsburgh Tube Employees Federal Credit Union	PA	Freedom United Federal Credit Union
Aug 17, 1988	First State Financial Corporation of Rockford	IL	Nwib Acquisition Corporation
Aug 17, 1988	Crown Crafts Employees Credit Union	GA	LGE Community Credit Union
Aug 15, 1988	Sovran Bank/Williamson County	TN	NationsBank of Tennessee, National Association
Aug 13, 1988	Union National Bank	TN	First Union National Bank of Tennessee
Aug 13, 1988	First Wisconsin Bank of Eldorado	WI	Firstar Bank Fond Du Lac, National Association
Aug 13, 1988	Security Trust	CT	First Union Bank of Connecticut
Aug 13, 1988	M&I Bank of Middleton	WI	M&I Bank of Southern Wisconsin
Aug 12, 1988	Capitol Federal Savings of America	IL	Standard Federal Bank for Savings
Aug 10, 1988	First Federal Savings and Loan Association of Taylorville	IL	United Savings of America
Aug 9, 1988	American Motors Employees Federal Credit Union	MI	Cornerstone Community Financial Credit Union
Aug 8, 1988	Holy Name Credit Union	NE	Greater Omaha Federal Credit Union
Aug 8, 1988	Raywood Federal Credit Union	TX	Liberty County Teachers Federal Credit Union
Aug 6, 1988	Camden County Bank	MO	Central Bank of Lake of the Ozarks
Aug 4, 1988	Freedom Federal Savings Bank	IL	Household Bank, F.S.B.
Aug 2, 1988	State Record Employees Credit Union	SC	Palmetto Citizens Federal Credit Union
Aug 1, 1988	Skinner Employees Credit Union	NE	Centris Federal Credit Union
Aug 1, 1988	Arco Bakersfield Federal Credit Union	CA	Valley Strong Credit Union
Aug 1, 1988	Boc Bancorp, Inc.	TN	Lawrence Bancshares, Inc.
Aug 1, 1988	FirstBank of Port Isabel, National Association	TX	FirstBank
Aug 1, 1988	National Safety Council Staff Credit Union	IL	Alero Financial 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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