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
Mar 3, 1988 The Home State Bank Russell, KS $59.9M First NB&T Co of Salina
Mar 3, 1988 Flower Mound Bank Flower Mound, TX $17.4M Security Bank
Feb 25, 1988 Harris County Bank Houston, N.A. Houston, TX $80.7M Omnibanc South National
Feb 25, 1988 American National Bank Stafford, TX $31.3M Park NB of Houston
Feb 25, 1988 Collin County State Bank Melissa, TX $12.5M Willow Bend National Ban
Feb 18, 1988 The Farmers & Merchants BK of Hill City Hill City, KS $16.5M Farmers&merchants BK Hil
Feb 18, 1988 Mustang Community Bank Mustang, OK $9.4M First National Bank of M
Feb 12, 1988 The First State Bank White Cloud, MI $36.4M Peoples STB of St Joseph
Feb 12, 1988 Global Bank Hialeah, FL $21.7M Ocean Bank
Feb 12, 1988 Basin State Bank Vernal, UT $12.0M Zions First National Ban
Feb 11, 1988 First Houston Bank, N.A. Houston, TX $33.2M Texas Commerce Bank N.A.
Feb 11, 1988 First State Bank Oilton, OK $13.2M American NB of Bristow
Feb 5, 1988 Bank of Dallas Dallas, TX $207.8M Deposit Guaranty Bank
Feb 3, 1988 The Bank of Louisburg Louisburg, KS $20.7M Peoples NB&T Ottawa
Jan 29, 1988 The Trust Bank Hialeah, FL $164.5M Republic NB of Miami
Jan 29, 1988 Territory S&LA Seminole, OK $31.2M —
Jan 28, 1988 Port City Bank Houston, TX $60.7M Channelview Bank
Jan 28, 1988 Houston Commerce Bank Houston, TX $41.0M —
Jan 22, 1988 Bank of Casper Casper, WY $6.1M First Wyoming Bank Caspe
Jan 21, 1988 United Mercantile Bank Shreveport, LA $86.3M Hibernia National Bank
Jan 21, 1988 Northwest Bank Dallas, TX $58.4M American Bank of Haltom
Jan 21, 1988 Sam Houston Nat'L Bank of Walker Huntsville, TX $37.6M Huntsville National Bank
Jan 21, 1988 Louisiana Commercial Bank Madisonville, LA $26.8M Pontchartrain State Bank
Jan 21, 1988 Williston Basin State Bank Williston, ND $14.0M First NB&T Co of Willist
Jan 21, 1988 Cedar Vale State Bank Cedar Vale, KS $11.7M Chisholm Trail State Ban
Jan 20, 1988 Aredale State Bank Aredale, IA $9.6M First Security Bank&trus
Jan 15, 1988 First Savings of East Texas San Augustine, TX $61.7M —
Jan 14, 1988 Colonial Bank New Orleans, LA $50.2M Pontchartrain State Bank
Jan 14, 1988 Balboa National Bank National City, CA $29.3M —
Jan 14, 1988 The Moran National Bank Moran, TX $17.2M Peoples State Bank
Jan 8, 1988 The North American Bank Phoenix, AZ $32.3M Columbia Bank
Jan 7, 1988 Commerce Bank of Plano Plano, TX $35.3M Quinlan State 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
Dec 31, 1988 Cal America Savings and Loan Association, a Federal Savings and Loan Association CA Columbus Savings, a Federal Savings and Loan Association
Dec 31, 1988 Premier Bank - Acadiana, National Association LA Bank One, Louisiana, National Association
Dec 31, 1988 Cosmopolitan Financial Services, Inc. IL Edgemark Financial Corporation
Dec 31, 1988 Citizens State Bank of Green Isle MN MidAmerica Bank Chaska
Dec 31, 1988 Valley Bank and Trust Company WV (unnamed)
Dec 31, 1988 (unnamed) — Bank One, Louisiana, National Association
Dec 31, 1988 South FL SVG FS&LA FL Southeast Bank for Savings, A FSB
Dec 31, 1988 Edgemark Financial Corporation IL Edgemark Financial Corporation
Dec 31, 1988 The First National Bank of Peckville PA PNC Bank, Northeast PA
Dec 31, 1988 First Federal Savings and Loan Association of Elgin IL First Federal of Elgin, F.S.A.
Dec 31, 1988 Farmers State Bank KS First Kansas Bank
Dec 31, 1988 Colorado Springs Security Pacific Industrial Bank CO Security Pacific Finance System Incorporated
Dec 31, 1988 Peoples Exchange Bank WI Valley Bank, Menomonie
Dec 31, 1988 Union National Corporation PA Integra Financial Corporation
Dec 31, 1988 Peoples Bank PA Community Banks, National Association
Dec 31, 1988 (unnamed) — Community Bank
Dec 31, 1988 Princeton Applied Research Federal Credit Union NJ Edifi Federal Credit Union
Dec 31, 1988 (unnamed) — Firstar Bank, National Association
Dec 31, 1988 Fort Drum Federal Credit Union NY Americu Credit Union
Dec 31, 1988 The Pen Argyl National Bank PA Lafayette Ambassador Bank
Dec 31, 1988 Pennbancorp PA Integra Financial Corporation
Dec 31, 1988 Braeburn Steel Employees Federal Credit Union PA Western Pa Federal Credit Union
Dec 31, 1988 Vermont Holding Corporation MA Key Bancshares of Vermont Inc.
Dec 31, 1988 The Premier Bank of South Louisiana LA Bank One, Louisiana, National Association
Dec 31, 1988 Tracy-Collins Bank and Trust Company UT U.S. Bank of Utah
Dec 31, 1988 XYZ Acquisition Corp. NY Irving Bank Corporation
Dec 31, 1988 Marine Midland Properties Corporation NY HSBC USA Inc.
Dec 31, 1988 United Federal Savings & Loan Association SD Home Federal Bank
Dec 31, 1988 Peoples Safe Deposit Bank, Saint Clair PA Community Banks, National Association
Dec 30, 1988 Farmers and Merchants Bank AR First National Bank of Eastern Arkansas
Dec 30, 1988 First Wyoming Bancorporation WY Key Bancshares of Wyoming, Inc.
Dec 30, 1988 Charter National Bank - Southwest TX Charter National Bank - Houston
Dec 30, 1988 Nicholson Voting Trust Agreement PA Comm Bancorp, Inc.
Dec 30, 1988 First City Bank-Forest Hill TX First City, Texas - Dallas
Dec 30, 1988 Arrowhead Federal Savings and Loan Association OK Equity Bank for Savings, F.A.
Dec 30, 1988 First City National Bank of Colleyville TX First City, Texas - Dallas
Dec 30, 1988 Keystone Savings & Loan Association TX Pacific Southwest Bank
Dec 30, 1988 City Bank-Rankin IL City Potomac Bank
Dec 30, 1988 First City Bank of Lewisville TX First City, Texas - Dallas
Dec 30, 1988 First City Bank-Central Arlington, National Association TX First City, Texas - Dallas
Dec 30, 1988 Columbia Savings, a, Federal Savings and Loan Association CO Columbia Savings, a Federal Savings and Loan Association
Dec 30, 1988 Doss Financial Bancshares, Inc. TX Texasbanc Holding Co.
Dec 30, 1988 First City Bank of Plano, National Association TX First City, Texas - Dallas
Dec 30, 1988 (unnamed) — First Interstate Bank of California
Dec 30, 1988 First City National Bank of Fort Worth TX First City, Texas - Dallas
Dec 30, 1988 First City National Bank of Arlington TX First City, Texas - Dallas
Dec 29, 1988 Landmark Bank of St. Clair County IL Magna Bank of Illinois
Dec 29, 1988 Landmark Bank of Mascoutah IL Magna Bank of Illinois
Dec 29, 1988 Landmark Bank of Edgemont IL Magna Bank of Illinois
Dec 29, 1988 First National Bank MN First National 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