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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
Sep 15, 1988 River City Bank Castle Hills, TX $15.1M Citizens STB of Luling
Sep 15, 1988 Citizens Bank of Littleton Littleton, CO $6.4M Equitable BK of Littleto
Sep 8, 1988 The Sylvia State Bank Sylvia, KS $5.9M Turon State Bank
Sep 1, 1988 American Bank of Muskogee Muskogee, OK $28.6M Citizens NB&T of Muskoge
Sep 1, 1988 Commercial State Bank San Augustine, TX $25.6M Hamilton National Bank
Sep 1, 1988 Pioneer National Bank Arlington, TX $20.3M Deposit Guaranty Bank
Sep 1, 1988 Mingo Trust & Savings Bank Mingo, IA $12.1M Exchange State Bank
Sep 1, 1988 Pisgah Savings Bank Pisgah, IA $9.7M Iowa Savings Bank
Sep 1, 1988 First National Bank of Atascocita Harris County, TX $9.4M First Interstate BK of T
Sep 1, 1988 Lakeland State Bank Camden County, MO $9.3M Community Bank of the Oz
Aug 31, 1988 Frontier Savings & Loan Ponca City, OK $1.03B Commercial Fed BK a FSB
Aug 31, 1988 Phoenix FS&LA Muskogee, OK $419.4M Cimarron FS&LA
Aug 31, 1988 Home Savings Bank, F.A. Lawton, OK $264.1M Red River FS&LA
Aug 31, 1988 Home S&LA Bartlesville, OK $173.5M Cimarron FS&LA
Aug 31, 1988 Kingfisher FS&LA Kingfisher, OK $124.4M Chisholm
Aug 31, 1988 First FS&LA Elk City, OK $106.7M Red River FS&LA
Aug 31, 1988 Heritage S&LA Elk City, OK $80.8M Red River
Aug 31, 1988 Peoples FS&LA Ardmore, OK $49.9M Red River FS&LA
Aug 26, 1988 Biwabik State Bank Biwabik, MN $3.2M First National Bank
Aug 25, 1988 Bank of the Mid-South Bossier City, LA $41.8M Red River Valley Bank
Aug 25, 1988 Highland Park National Bank Dallas, TX $26.3M Deposit Guaranty Bank
Aug 25, 1988 Bancfirst-Westlake, N.A. Austin, TX $15.0M Union National Bank of T
Aug 19, 1988 Sunbelt Savings Association of Texas Dallas, TX $2.21B Sunbelt Savings FSB
Aug 19, 1988 First City Savings Association Irving, TX $227.0M Sunbelt Savings FSB
Aug 19, 1988 Multibanc Savings Association Dallas, TX $190.7M Sunbelt Savings FSB
Aug 19, 1988 Federated S&LA San Antonio, TX $150.1M Sunbelt Savings FSB
Aug 19, 1988 Texana S&LA Texarkana, TX $78.1M Sunbelt Savings FSB
Aug 19, 1988 Marshall County Bank Britton, SD $10.7M First National Bank
Aug 18, 1988 Town & Country National Bank Harlingen, TX $29.6M Harlingen National Bank
Aug 18, 1988 First National Bank Austin Austin, TX $26.0M First State Bank
Aug 18, 1988 Citizens State Bank Maud, OK $11.1M Bank National Assn
Aug 11, 1988 First Bank Balch Springs, TX $46.2M Gateway National Bank
Aug 11, 1988 West Houston National Bank Houston, TX $26.4M Texas Commerce Bank N.A.
Aug 11, 1988 Galena Park State Bank Galena Park, TX $24.8M Lockwood NB of Houston
Aug 4, 1988 Farmers & Merchants Bank of Elmo Elmo, MO $9.2M First Bank of Maryville
Aug 3, 1988 Alaska Continental Bank Anchorage, AK $51.5M First Interstate Bank of
Aug 2, 1988 First Republicbank Delaware Newark, DE $582.4M Citibank Delaware
Jul 29, 1988 First Republicbank-Dallas, N.A. Dallas, TX $17.09B NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Houston, N.A. Houston, TX $2.71B NCNB Texas National Bank
Jul 29, 1988 First REPUBLICBANK-FT. Worth, N.A. Ft. Worth, TX $1.96B NCNB Texas National Bank
Jul 29, 1988 First Republicbank- Austin, N.A. Austin, TX $1.69B NCNB Texas National Bank
Jul 29, 1988 First Republicbank-San Antonio San Antonio, TX $797.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Waco, N.A. Waco, TX $716.3M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Midland, N.A. Midland, TX $659.4M NCNB Texas National Bank
Jul 29, 1988 National Bank of FT. Sam Houston Ft. Sam Houston, TX $634.8M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Tyler, N.A. Tyler, TX $610.4M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Lubbock, N.A. Lubbuck, TX $528.1M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Wichita Falls Wichita Falls, TX $304.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Galveston, N.A. Galveston, TX $257.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Jefferson County Beaumont, TX $240.7M NCNB Texas National 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
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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