Skip to main content

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
Jun 2, 1988 Guaranty Bank Dallas, TX $82.1M Red Oak State Bank
Jun 2, 1988 River Plaza National Bank Forth Worth, TX $41.8M Tarrant Bank
Jun 2, 1988 Williamstown Bank, N.A. Houston, TX $23.0M City National Bank
Jun 2, 1988 Security Bank of Boulder Boulder, CO $14.1M First NB in Boulder
Jun 2, 1988 Security Bank of Aurora Aurora, CO $10.9M Security Bank of Colorad
Jun 2, 1988 Community State Bank Whiting, IA $5.1M Sloan State Bank
May 27, 1988 Sandy State Bank Sandy, UT $8.9M Zions First National Ban
May 26, 1988 The First State Bank Rockwall, TX $39.9M Community Bank
May 26, 1988 First National Bank of Kingswood Kingswood, TX $16.1M Interstate Bank North
May 26, 1988 Lone Star Bank Harris County (Bayto, TX $13.0M Citizens B&T Co Baytown
May 24, 1988 Universal S&LA Scottsdale, AZ $116.8M —
May 19, 1988 National Bank of Texas Houston, TX $19.4M Old Braeswood National B
May 13, 1988 Cardinal Savings Bank Newport, NC $93.9M —
May 13, 1988 Westside National Bank Houston, TX $32.2M Compass Bank Houston N.A.
May 12, 1988 The First State Bank Childress, TX $14.9M Citizens STB of Dalhart
May 6, 1988 Forest City Bank & Trust Co. Forest City, IA $26.6M Liberty Bank&trust
May 5, 1988 Union Bank & Trust of Dallas Dallas, TX $36.7M Cornerstone Bank N.A.
May 5, 1988 Lincoln National Bank Arlington, TX $13.0M Tarrant Bank
Apr 29, 1988 American FS&LA Anderson, IN $145.8M —
Apr 29, 1988 Oak Park Bank Oak Park Heights, MN $21.1M St Croix Valley Bank
Apr 22, 1988 The Village Bank Great Falls, MT $21.7M Village Bank of Great F.A.
Apr 22, 1988 Unity Bank Dayton, OH $7.1M First National Bank
Apr 21, 1988 Texas National Bank Austin, TX $18.5M —
Apr 21, 1988 Citizens National Bank Colorado Springs, CO $18.3M State B&T of Co Springs
Apr 19, 1988 MC Allen State Bank McAllen, TX $580.0M First City NB of Houston
Apr 15, 1988 Colonial Thrift & Loan Association Culver City, CA $26.8M Southern Pacific TH&L As
Apr 15, 1988 Metropolitan Industrial Bank Denver, CO $12.4M Resources Industrial Ban
Apr 14, 1988 CY-Fair Bank, N.A. Harris County, TX $13.9M Charter NB Willowbrook
Apr 14, 1988 Jennings Bank Jennings, KS $7.1M Bank of Oberlin
Apr 8, 1988 First Federal of Shawnee Shawnee, OK $130.7M —
Apr 8, 1988 Citizens State Bank of Eagle Bend Eagle Bend, MN $10.0M Lake Country State Bank
Apr 7, 1988 Central National Bank Dallas, TX $15.9M Deposit Guaranty Bank
Apr 7, 1988 Home State Bank Trent, TX $5.4M Farmers&merchants NB Mer
Mar 31, 1988 Union Bank & Trust Company Oklahoma City, OK $182.5M Union Bank&trust Co
Mar 31, 1988 First Bank & Trust Tomball, TX $68.7M Hamilton National Bank
Mar 25, 1988 First National Bank of Del City Del City, OK $30.9M Lincoln National Bank
Mar 24, 1988 Century Bank Tulsa, OK $70.8M Fourth NB of Tulsa
Mar 24, 1988 Cashion Community Bank Cashion, OK $6.7M Community State Bank
Mar 18, 1988 State Bank of Morgan Morgan, MN $20.3M Farmers&merchants STB SP
Mar 18, 1988 Citizens State BK of Gibbon Gibbon, MN $15.1M Minnesota Valley Bank
Mar 17, 1988 First National Bank of Port Allen Port Allen, LA $19.6M Iberville Trust&savings
Mar 11, 1988 First FS&LA of Paducah Paducah, KY $130.9M —
Mar 11, 1988 First Intercounty Bank of New York New York, NY $44.1M Community NB&T Co of NY
Mar 10, 1988 The First Nat Bank & Trust Co. of Cushing Cushing, OK $60.3M American NB of Bristow
Mar 10, 1988 First American Bank & Trust of Baytown Baytown, TX $38.2M Citizens B&T Co Baytown
Mar 10, 1988 Hayesville Savings Bank Hayesville, IA $38.0M Farmers Savings Bank
Mar 10, 1988 Security Bank of Denver, N.A. Denver, CO $17.0M City Center National Ban
Mar 10, 1988 First American Bank & Trust of Manvel Manvel, TX $12.3M First National Bank of a
Mar 10, 1988 First American Bank & TR of Friendswood Friendswood, TX $6.4M —
Mar 10, 1988 Frenchman Valley Bank Palisade, NE $2.8M —

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
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

Browse adjacent years: 1987 · 1989

Or jump to a category: Failures · Mergers · Enforcement · Assistance