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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
Nov 16, 1988 Bur-Ken Federal Credit Union PA Allegheny Valley Federal Credit Union
Nov 16, 1988 Bishop College Cu TX Good Street Baptist Church Federal Credit Union
Nov 16, 1988 Alliance Bank, N.A. OK First National Bank
Nov 15, 1988 Savers Holdings, Incorporated MD The Bank of Baltimore
Nov 15, 1988 Ila Corpus Federal Credit Union TX Homeport Federal Credit Union
Nov 15, 1988 State Bank of Darfur MN Westbrook-Darfur State Bank
Nov 14, 1988 Boatmen's Raytown Bank MO Nationsbank, National Association (Mid-West)
Nov 14, 1988 First Interstate Bank of Conroe TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 Boatmen's Bank of Excelsior Springs MO Nationsbank, National Association (Mid-West)
Nov 14, 1988 First Interstate Bank of Port Arthur TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of Angleton, National Association TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 Boatmen's Bank of Lee's Summit MO Nationsbank, National Association (Mid-West)
Nov 14, 1988 First Interstate Bank of Rockport TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of Northwest San Antonio, National Association TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of Fort Bend TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of Beaumont, National Association TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of North San Antonio TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of South Austin TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 Boatmen's Bank of Belton MO Nationsbank, National Association (Mid-West)
Nov 14, 1988 North East Federal Savings & Loan Association PA Prime Bank
Nov 14, 1988 First Interstate Bank of North Austin TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 First Interstate Bank of Marble Falls TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 Boatmen's North Hills Bank MO Nationsbank, National Association (Mid-West)
Nov 14, 1988 Wyoming National Bank Casper East WY Wells Fargo Bank Wyoming, National Association
Nov 14, 1988 Richland Banking Co. GA Farmers State Bank
Nov 14, 1988 Boatmen's Bank of Independence MO Nationsbank, National Association (Mid-West)
Nov 14, 1988 First Interstate Bank of Austin TX Wells Fargo Bank Texas, National Association
Nov 14, 1988 Wyoming National Bank Casper West WY Wells Fargo Bank Wyoming, National Association
Nov 12, 1988 Utah State Credit Union UT Mountain America Federal Credit Union
Nov 10, 1988 Security Pacific Asian Banking Corporation, N.A. CA Security Pacific Asian Bank, N.A.
Nov 10, 1988 Life Plan Credit Union IA Financial Plus Credit Union
Nov 9, 1988 Offshore Fcu LA Onpath Federal Credit Union
Nov 7, 1988 M R Employees Federal Credit Union IL Federal Mogul Employees Federal Credit Union
Nov 5, 1988 Consumers Savings Bank MA Bank of New England-Worcester
Nov 5, 1988 Lincoln Federal Savings and Loan Association NJ Granite Bank, Federal Savings Bank
Nov 3, 1988 Reliance Savings and Loan Association NJ CrossLand Savings, FSB
Nov 2, 1988 LBC&W Employees Federal Credit Union SC Carolina Foothills Federal Credit Union
Nov 1, 1988 Security Capitol Building Corp WI Valley Bank
Nov 1, 1988 Union Bancorp CA MUFG Union Bank, National Association
Nov 1, 1988 C F S Continental Employees Federal Credit Union IL Alero Financial Credit Union
Nov 1, 1988 (unnamed) — MUFG Union Bank, National Association
Nov 1, 1988 Security Pacific Industrial Bank CO Security Pacific Finance System Incorporated
Nov 1, 1988 Airetool & Yost Superior Employees Credit Union, Inc. OH Wright-Patt Credit Union, Inc.
Nov 1, 1988 Saint Vincent De Paul Parish Credit Union, Inc. OH Directions Credit Union
Nov 1, 1988 A B E Credit Union IL American Broadcast Employees Federal Credit Union
Nov 1, 1988 The First National Bank of Grafton WV (unnamed)
Nov 1, 1988 (unnamed) — The Co-operative Bank of Concord
Nov 1, 1988 Standard Chartered Holdings, Inc. CA MUFG Union Bank, National Association
Nov 1, 1988 GCC Employees Credit Union SC South Carolina Federal Credit Union
Nov 1, 1988 First of America Bank-Belvidere IL First of America Bank-Rockford, National Association

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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