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 28, 1988	Family Financial Savings Association	WI	Bank Mutual
Dec 27, 1988	(unnamed)	—	American National Bank of Melrose Park
Dec 27, 1988	The Citizens Building and Loan Company	OH	Unity Savings Bank
Dec 27, 1988	Pacific Bancorporation Data Systems, Inc.	CA	Pacific Bancorporation
Dec 23, 1988	Glen Ellyn Savings and Loan Association, a Federal Savings and Loan Association	IL	Citibank, Federal Savings Bank
Dec 23, 1988	Old National Credit Corporation	WA	U.S. Bancorp
Dec 20, 1988	Ufcw Local 7 Credit Union	CO	Electrical Federal Credit Union
Dec 19, 1988	Sierra Security Bank	CA	Plumas Bank
Dec 19, 1988	First National Bank of Crosby	TX	Compass Bank
Dec 19, 1988	Compass Bank N.A.	TX	Compass Bank
Dec 17, 1988	Tri-City Bancorp, Inc.	TN	First Virginia Banks, Inc.
Dec 17, 1988	Fairlawn Plaza Investments, Inc.	KS	IV Topeka Acquisition, Inc.
Dec 17, 1988	Fairlawn Plazabank	KS	Bank IV Topeka, National Association
Dec 16, 1988	Community First Federal Savings	WA	Pacific First Bank, a Federal Savings Bank
Dec 16, 1988	Somerset Bancorp, Inc.	NJ	The Summit Bancorporation
Dec 16, 1988	Lamorinda Financial Corporation	CA	Mission Valley Bancorp
Dec 15, 1988	Tri-County State Bank	IA	Security State Bank
Dec 15, 1988	Great Northern Savings	IL	Lasalle Bank, F.S.B.
Dec 15, 1988	Applewood U.S. Industrial Bank	CO	American Industrial Bank of Lakewood
Dec 15, 1988	First City National Bank of Richmond	TX	First City, Texas - Houston, N.A.
Dec 15, 1988	Landrum Mills Federal Credit Union	SC	Southern Select Community Cu
Dec 13, 1988	Purple Shield Fcu	LA	Southern Teachers & Parents Federal Credit Union
Dec 12, 1988	Cal Co Maryland Federal Credit Union	MD	Educational Systems Federal Credit Union
Dec 12, 1988	First Interstate Bank of Bedford	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Plano, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Fort Worth	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Dallas, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Mesquite, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Marshall	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Cedar Hill, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Dallas	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Keller, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of North Richland Hills, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Longview	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Arlington	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank Brookhollow	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank North Central, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Oak Cliff	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Irving	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Waxahachie, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 10, 1988	Community State Bank	WA	Bellingham Bank
Dec 10, 1988	The Peoples National Bank of Shelbyville	TN	First Union National Bank of Tennessee
Dec 9, 1988	Grand Bank Northeast	TX	Comerica Bank - Texas
Dec 9, 1988	McDonald County Mercantile Bank	MO	Mercantile Bank of Monett
Dec 9, 1988	Centerre Bancorporation	MO	Boatmen's Bancshares, Inc.
Dec 9, 1988	Mutual State Bank	NE	Mid City Bank, Inc.
Dec 9, 1988	Grand Bank, National Association	TX	Comerica Bank - Texas
Dec 6, 1988	Kolob Investment Company	UT	Central Bancorporation
Dec 6, 1988	Edwardsville State Bank	KS	The Edwardsville Bank
Dec 5, 1988	First Bank	IL	First 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

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