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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
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
May 18, 1988 City S&LA San Angelo, TX $681.2M
May 18, 1988 Stockton Savings Association Dallas, TX $543.0M
May 18, 1988 The American State Bank Yankton, SD $62.1M
May 13, 1988 Colorado County FS&LA Columbus, TX $212.9M
May 13, 1988 Security S&LA Dickinson, TX $105.8M
May 13, 1988 Alliance S&LA (Houston) Austin, TX $103.7M
May 13, 1988 Cameron County S&LA San Benito, TX $27.6M
Apr 28, 1988 Citizens Bank of Tulsa Tulsa, OK $6.7M
Apr 25, 1988 Bond County State Bank Pocahontas, IL $6.3M
Apr 20, 1988 First City, Texas - Houston, N.A. Houston, TX $4.42B
Apr 20, 1988 First City, Texas - Austin Austin, TX $710.5M
Apr 20, 1988 First City - Sioux Falls N.A. Sioux Falls, SD $597.7M
Apr 20, 1988 First City, Texas - Dallas Dallas, TX $590.3M
Apr 20, 1988 First City, Texas - Beaumont Beaumont, TX $447.4M
Apr 20, 1988 First City, Texas - Corpus Christi Corpus Christi, TX $441.6M
Apr 20, 1988 First City, Texas - El Paso El Paso, TX $391.8M
Apr 20, 1988 First City, Texas - Midland Midland, TX $361.2M
Apr 20, 1988 First City, Texas - Tyler Tyler, TX $261.8M
Apr 20, 1988 First City, Texas - Arlington Arlington, TX $240.8M
Apr 20, 1988 First City, Texas - Bryan Bryan, TX $238.4M
Apr 20, 1988 First City, Texas - Richardson Richardson, TX $234.2M
Apr 20, 1988 First City, Texas - Central Park San Antonio, TX $177.3M
Apr 20, 1988 First City, Texas - Gulfgate Houston, TX $168.1M
Apr 20, 1988 First City, Texas - Farmers Branch Farmers Branch, TX $162.0M
Apr 20, 1988 First City, Texas - Lufkin Lufkin, TX $156.6M
Apr 20, 1988 First City, Texas - Highland Village Houston, TX $147.5M
Apr 20, 1988 First City, Texas - Valley View Dallas, TX $142.6M
Apr 20, 1988 First City, Texas - San Angelo San Angelo, TX $139.4M
Apr 20, 1988 First City, Texas - Graham Graham, TX $134.2M
Apr 20, 1988 First City, Texas - Lewisville Lewisville, TX $131.1M
Apr 20, 1988 First City, Texas - Garland Garland, TX $129.8M
Apr 20, 1988 First City, Texas - Windsor Park San Antonio, TX $126.8M
Apr 20, 1988 First City, Texas - Orange Orange, TX $119.7M
Apr 20, 1988 First City, Texas - Alice Alice, TX $105.9M
Apr 20, 1988 First City, Texas - East Dallas Dallas, TX $105.8M
Apr 20, 1988 Bank of Santa Fe Santa Fe, NM $95.6M
Apr 20, 1988 First City, Texas - Central Arlington Arlington, TX $91.4M
Apr 20, 1988 First City, Texas - Madisonville Madisonville, TX $89.7M
Apr 20, 1988 First City, Texas - Lake Jackson Lake Jackson, TX $85.8M
Apr 20, 1988 First City, Texas - Lancaster Lancaster, TX $81.4M
Apr 20, 1988 First City, Texas - Clear Lake Houston, TX $79.8M
Apr 20, 1988 First City, Texas - Grand Prairie Grand Prairie, TX $79.3M
Apr 20, 1988 First City, Texas - Humble Humble, TX $78.4M
Apr 20, 1988 First City, Texas - Almeda Genoa Houston, TX $77.9M
Apr 20, 1988 First City, Texas - Gateway Beaumont, TX $76.5M
Apr 20, 1988 First City, Texas - Inwood Forest Houston, TX $76.2M
Apr 20, 1988 First City, Texas - Richmond Richmond, TX $74.7M
Apr 20, 1988 First City, Texas - Northeast Houston, TX $71.1M
Apr 20, 1988 First City, Texas - Central Beaumont, TX $69.5M
Apr 20, 1988 First City, Texas - Market Center Dallas, TX $68.0M

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