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
Dec 16, 1988	First Industrial Bank of Rocky Ford	Rocky Ford, CO	$12.5M	First NB of Ordway
Dec 16, 1988	First Southwest Bank	Eldorado, OK	$9.8M	First State Bank&trust C
Dec 15, 1988	Texas National Bank	Dallas, TX	$37.7M	Cornerstone Bank N.A.
Dec 15, 1988	First National Bank in Center	Center, TX	$26.1M	Citizens Bank
Dec 15, 1988	Crescent City Bank & Trust Company	New Orleans, LA	$24.0M	Omni Bank
Dec 15, 1988	Texas Bank of Plano	Plano, TX	$15.1M	Plano East National Bank
Dec 15, 1988	First National Bank in Bogata	Bogata, TX	$13.2M	Peoples National Bank
Dec 9, 1988	Silverado S&LA	Denver, CO	$2.32B	Columbia Savings, a FS&LA
Dec 9, 1988	Caribank	Dania, FL	$525.8M	Citibank Florida N.A.
Dec 9, 1988	Central Arkansas S&LA	Conway, AR	$10.1M	—
Dec 8, 1988	First Bank & Trust Co.	Duncan, OK	$42.0M	First Bank&trust Co
Dec 8, 1988	Resource Bank, N.A.	Houston, TX	$34.7M	—
Dec 8, 1988	Waukomis State Bank	Waukomis, OK	$12.0M	Cimarron Bank
Dec 1, 1988	Union Bank of Houston	Houston, TX	$55.4M	Texas Commerce Bank N.A.
Dec 1, 1988	Texana National Bank of Belton	Belton, TX	$19.5M	First NB of Temple
Dec 1, 1988	Oak Lawn Bank, N.A.	Dallas, TX	$10.3M	Cornerstone Bank N.A.
Dec 1, 1988	Enterprise National Bank	Englewood, CO	$5.3M	Colonial National Bank
Nov 18, 1988	First National Bank	Covington, LA	$262.2M	Hibernia National Bank
Nov 17, 1988	The Bank of Kerrville	Kerrville, TX	$39.8M	Bank of Kerrville
Nov 17, 1988	East Texas State Bank	Buna, TX	$21.3M	First NB of Bonham
Nov 10, 1988	Cyprus Sa	Plantation, FL	$172.8M	—
Nov 10, 1988	Avoyelles Trust & Savings Bank	Bunkie, LA	$27.1M	Bunkie Bank&trust Co
Nov 10, 1988	American National Bank	Tyler, TX	$22.4M	First NB of Winnsboro
Nov 10, 1988	Bank of the Northwest	Woodward, OK	$19.5M	Bank of Woodward
Nov 10, 1988	Miami National Bank	Miami, OK	$9.2M	Bank of Miami
Nov 10, 1988	The First National Bank of Gracemont	Gracemont, OK	$6.6M	First State Bank
Nov 4, 1988	MT. Zion State Bank	Mount Zion, IL	$26.4M	Mount Zion State B&T Co
Nov 3, 1988	Southwest National Bank	Houston, TX	$14.0M	Spring National Bank
Oct 27, 1988	Frontier National Bank	Round Rock, TX	$39.5M	First State Bank
Oct 27, 1988	Round Rock National Bank	Round Rock, TX	$37.0M	First State Bank
Oct 27, 1988	Medical Center State Bank	Oklahoma City, OK	$8.7M	American State Bank
Oct 20, 1988	Commercial Bank & Trust Company	Metairie, LA	$58.8M	Pontchartrain State Bank
Oct 20, 1988	Security Bank	Dallas, TX	$21.8M	Deposit Guaranty Bank
Oct 7, 1988	Liberty FSB	Raton, NM	$130.4M	—
Oct 6, 1988	Financial Security S&LA	Delray Beach, FL	$150.1M	—
Oct 6, 1988	Fidelity National Bank of Fort Worth	Fort Worth, TX	$33.8M	Fidelity Bank
Oct 3, 1988	Liberty Bank & Trust Company	Warsaw, IN	$48.7M	Trustcorp Bank Goshen
Sep 30, 1988	Watson State Bank	Watson, MN	$13.7M	Minnwest Bank Montevideo
Sep 29, 1988	First State Bank	Seminole, OK	$12.2M	First State Bank
Sep 26, 1988	Continental S&LA	Bellaire, TX	$363.7M	—
Sep 23, 1988	Peoples S&LA	La Grande, OR	$22.5M	—
Sep 23, 1988	Peoples State Bank of Meeker	Meeker, CO	$3.9M	First NB of Meeker
Sep 22, 1988	The First State Bank in Talihina	Talihina, OK	$15.8M	Spiro State Bank
Sep 22, 1988	Community Bank & Trust	Rockdale, TX	$14.9M	Citizens NB of Cameron
Sep 22, 1988	The Security State Bank	Comanche, OK	$9.0M	American National Bank
Sep 21, 1988	Mountainwest S&LA	Ogden, UT	$284.5M	—
Sep 16, 1988	Ultimate Savings Bank	Richmond, VA	$206.5M	—
Sep 15, 1988	Trinity National Bank	San Antonio, TX	$33.1M	First NB of Rio Grande C
Sep 15, 1988	Town & Country Bank	Bixby, OK	$30.8M	Brookside State Bank
Sep 15, 1988	Capital National Bank	Fort Worth, TX	$24.4M	Central Bank&trust

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 30, 1988	First City Bank - Almeda Genoa	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank-Medical Center, National Association	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank - Market Center, National Association	TX	First City, Texas - Dallas
Sep 30, 1988	First City Bank of Humble	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City National Bank in Grand Prairie	TX	First City, Texas - Dallas
Sep 30, 1988	First City Bank - Bear Creek	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	Amoco Texas Coast Fcu	TX	Amoco Federal Credit Union
Sep 30, 1988	First City Bank-Westheimer, N.A.	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank - Farmers Branch	TX	First City, Texas - Dallas
Sep 30, 1988	Charter National Bank - Willowbrook	TX	Charter National Bank-Colonial
Sep 30, 1988	OMNIBANC North Belt, National Association	TX	OMNIBANK, National Association
Sep 30, 1988	First of America Bank-Michigan City	IN	First of America Bank - Northwest Indiana, National Association
Sep 30, 1988	First City Bank - Inwood Forest, National Association	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank - Fondren South	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank-Valley View	TX	First City, Texas - Dallas
Sep 30, 1988	First City Bank-Northwest Hills, National Association	TX	First City, Texas - Austin, N.A.
Sep 30, 1988	First City Bank - Northchase, National Association	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank-Westheimer Plaza, National Association	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank-Northeast, N. A.	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank - Bellaire, N.A.	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank - Gulfgate	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank-Westwood, National Association	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank-Gateway, National Association	TX	First City, Texas - Beaumont, N.A.
Sep 30, 1988	First City Bank-Central	TX	First City, Texas - Beaumont, N.A.
Sep 30, 1988	First City Bank - North Belt, National Association	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank of Highland Village	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	First City Bank of Garland, National Association	TX	First City, Texas - Dallas
Sep 30, 1988	First National Bank	TX	United Bank of Waco, N.A.
Sep 30, 1988	Southwest Bank	TX	United Bank of Waco, N.A.
Sep 30, 1988	Safety Federal Savings and Loan Association of Kansas City	MO	Home Federal Savings of Kansas City
Sep 30, 1988	Comunicorp, Inc.	NY	Community Financial System, Inc.
Sep 30, 1988	Sabine Bank	TX	United Bank of Waco, N.A.
Sep 30, 1988	First City Bank of Clear Lake	TX	First City, Texas - Houston, N.A.
Sep 30, 1988	(unnamed)	—	First City, Texas - San Antonio, N.A.
Sep 30, 1988	First Bancshares of Huntington, Inc.	IN	Society Bancorp of Indiana, Inc.
Sep 30, 1988	First City Bank - Windsor Park	TX	First City, Texas - San Antonio, N.A.
Sep 30, 1988	First City Bank of Richardson	TX	First City, Texas - Dallas
Sep 30, 1988	First City Bank - East Dallas	TX	First City, Texas - Dallas
Sep 30, 1988	First City Bank of Lancaster	TX	First City, Texas - Dallas
Sep 30, 1988	State National Bancorp of Frankfort, Inc.	KY	Whitaker Bancorp, Inc.
Sep 29, 1988	Alamo Express Federal Credit Union	TX	E M O T Federal Credit Union
Sep 29, 1988	Dana Detroit Employees Credit Union	MI	Motor City Co-Op Credit Union
Sep 28, 1988	Gibson Indianapolis Employees Federal Credit Union	IN	Indiana Members Credit Union
Sep 26, 1988	South Ridge Bank, Inc.	NE	West Gate Bank
Sep 24, 1988	Florida Legal Cu	FL	Fairwinds Credit Union
Sep 24, 1988	Peoples Bancshares Corporation	OH	Norwest Indiana, Inc.
Sep 24, 1988	SouthTrust Bank of Arab	AL	SouthTrust Bank of Marshall County, National Association
Sep 24, 1988	Arsenal Savings Association, Federal Association	IN	Union Federal Bank of Indianapolis
Sep 24, 1988	Merchants and Southern Bank of Clay County	FL	Merchants & Southern Bank
Sep 24, 1988	First Bank of Channahon	IL	Merchants and Manufacturers 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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