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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
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
Sep 24, 1988 The Frankton Savings and Loan Association IN Union Federal Savings Bank of Frankton
Sep 24, 1988 Citizens National Bank of Southington CT First Union Bank of Connecticut
Sep 24, 1988 The Bank of Ashippun WI F&M Bank of Slinger
Sep 23, 1988 MBank Corpus Christi South, National Association TX Corpus Christi National Bank
Sep 23, 1988 Washington Hospital Federal Credit Union PA Frick Financial Federal Credit Union
Sep 22, 1988 Loves Park FSB IL Homebanc, A Federal Savings Bank
Sep 21, 1988 Central Bank of Craig, N.A. CO First Security Bank of Craig
Sep 20, 1988 IV Corporate Woods Acquisition, Inc. KS Fourth Financial Corporation
Sep 19, 1988 (unnamed) — Mark Twain Illinois Bank
Sep 19, 1988 Crossroads National Bank WV Bank of Raleigh
Sep 18, 1988 First Midwest Bank/Lake County IL First Midwest Bank, National Association
Sep 18, 1988 First Midwest Bank/Zion IL First Midwest Bank, National Association
Sep 17, 1988 The Security Bank WV Community Bank & Trust, National Association
Sep 17, 1988 Ultimate Savings Bank Federal Savings Bank VA Citizens Federal Bank, A FSB
Sep 16, 1988 Shelbina Mercantile Bank MO Mercantile Bank of Northern Missouri
Sep 16, 1988 City/Town Municipal Employees Federal Credit Union NY Ufirst Federal Credit Union
Sep 16, 1988 Everybodys Credit Union OH Trupartner Credit Union, Inc.
Sep 16, 1988 Freedom Federal Savings and Loan Association OR WaFd Bank
Sep 16, 1988 Salisbury Mercantile Bank MO Mercantile Bank of Northern Missouri
Sep 15, 1988 Coosa FS&LA AL Regions Bank of Louisiana
Sep 13, 1988 Southeastern Fcu FL Jetstream Federal Credit Union
Sep 12, 1988 (unnamed) — River City Bank
Sep 11, 1988 First Midwest Bank/North Chicago, a National Association IL First Midwest Bank, National Association
Sep 11, 1988 First Midwest Bank/Lake Forest, a National Association IL First Midwest Bank, National Association
Sep 10, 1988 Acco Bridgeport Employees Federal Credit Union CT McKesson Federal Credit Union
Sep 10, 1988 Bank of Hunnewell MO Alliant Bank
Sep 10, 1988 The First National Bank of Tuskaloosa AL AmSouth Bank
Sep 9, 1988 Robanco Financial Corp. IN Norwest Indiana, Inc.
Sep 9, 1988 The First National Bank of Rochester IN Norwest Bank Rochester
Sep 9, 1988 North Wilkesboro Federal Savings and Loan Association NC Wachovia Bank, National Association
Sep 8, 1988 Fidelity Federal Savings and Loans Association of Berwyn IL United Savings of America
Sep 6, 1988 The Colonial Bank of Hartselle AL Colonial Bank
Sep 3, 1988 First Security Bank MO (unnamed)
Sep 2, 1988 Monwar Employees Federal Credit Union WV National Employees Federal Credit Union
Sep 2, 1988 The Abington National Bank MA Granite Co-Operative Bank
Sep 2, 1988 Milford Building & Loan Association DE The Sussex Trust Company
Sep 2, 1988 Citizens FS&LA FL Citizens Federal Savings Association
Sep 1, 1988 First American National Bank TN First American National Bank
Sep 1, 1988 Goodyear Lawton Credit Union OK Communication Federal Credit Union
Sep 1, 1988 The First National Bank of Collinsville IL (unnamed)
Sep 1, 1988 Continental Illinois Trust Company of Sarasota, National Association FL Bank of America Trust Company of Florida, National Association
Sep 1, 1988 (unnamed) — Commerce Bank, National Association
Sep 1, 1988 Melbourne Savings Bank IA The First State Bank
Sep 1, 1988 Portage County Postal Employees Credit Union, Inc. OH Kent Credit Union, Inc.
Sep 1, 1988 P.A.B. Federal Credit Union PA Greater Pittsburgh Federal Credit Union
Sep 1, 1988 P W C Employees Federal Credit Union IN Financial Builders Federal Credit Union
Sep 1, 1988 Imco Credit Union MO United Consumers Credit Union
Sep 1, 1988 Marvel-York Credit Union IL Staley Credit Union
Sep 1, 1988 First Wyoming Bank-Hanna WY Key Bank of Wyoming - Fourth and Buffalo, Rawlins, Wyoming 82301
Sep 1, 1988 Bondshire Credit Union WI Park City Credit Union

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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