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
Mar 3, 1988	The Home State Bank	Russell, KS	$59.9M	First NB&T Co of Salina
Mar 3, 1988	Flower Mound Bank	Flower Mound, TX	$17.4M	Security Bank
Feb 25, 1988	Harris County Bank Houston, N.A.	Houston, TX	$80.7M	Omnibanc South National
Feb 25, 1988	American National Bank	Stafford, TX	$31.3M	Park NB of Houston
Feb 25, 1988	Collin County State Bank	Melissa, TX	$12.5M	Willow Bend National Ban
Feb 18, 1988	The Farmers & Merchants BK of Hill City	Hill City, KS	$16.5M	Farmers&merchants BK Hil
Feb 18, 1988	Mustang Community Bank	Mustang, OK	$9.4M	First National Bank of M
Feb 12, 1988	The First State Bank	White Cloud, MI	$36.4M	Peoples STB of St Joseph
Feb 12, 1988	Global Bank	Hialeah, FL	$21.7M	Ocean Bank
Feb 12, 1988	Basin State Bank	Vernal, UT	$12.0M	Zions First National Ban
Feb 11, 1988	First Houston Bank, N.A.	Houston, TX	$33.2M	Texas Commerce Bank N.A.
Feb 11, 1988	First State Bank	Oilton, OK	$13.2M	American NB of Bristow
Feb 5, 1988	Bank of Dallas	Dallas, TX	$207.8M	Deposit Guaranty Bank
Feb 3, 1988	The Bank of Louisburg	Louisburg, KS	$20.7M	Peoples NB&T Ottawa
Jan 29, 1988	The Trust Bank	Hialeah, FL	$164.5M	Republic NB of Miami
Jan 29, 1988	Territory S&LA	Seminole, OK	$31.2M	—
Jan 28, 1988	Port City Bank	Houston, TX	$60.7M	Channelview Bank
Jan 28, 1988	Houston Commerce Bank	Houston, TX	$41.0M	—
Jan 22, 1988	Bank of Casper	Casper, WY	$6.1M	First Wyoming Bank Caspe
Jan 21, 1988	United Mercantile Bank	Shreveport, LA	$86.3M	Hibernia National Bank
Jan 21, 1988	Northwest Bank	Dallas, TX	$58.4M	American Bank of Haltom
Jan 21, 1988	Sam Houston Nat'L Bank of Walker	Huntsville, TX	$37.6M	Huntsville National Bank
Jan 21, 1988	Louisiana Commercial Bank	Madisonville, LA	$26.8M	Pontchartrain State Bank
Jan 21, 1988	Williston Basin State Bank	Williston, ND	$14.0M	First NB&T Co of Willist
Jan 21, 1988	Cedar Vale State Bank	Cedar Vale, KS	$11.7M	Chisholm Trail State Ban
Jan 20, 1988	Aredale State Bank	Aredale, IA	$9.6M	First Security Bank&trus
Jan 15, 1988	First Savings of East Texas	San Augustine, TX	$61.7M	—
Jan 14, 1988	Colonial Bank	New Orleans, LA	$50.2M	Pontchartrain State Bank
Jan 14, 1988	Balboa National Bank	National City, CA	$29.3M	—
Jan 14, 1988	The Moran National Bank	Moran, TX	$17.2M	Peoples State Bank
Jan 8, 1988	The North American Bank	Phoenix, AZ	$32.3M	Columbia Bank
Jan 7, 1988	Commerce Bank of Plano	Plano, TX	$35.3M	Quinlan State 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
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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