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
Dec 16, 1988 First Industrial Bank of Rocky Ford Rocky Ford, CO $12.5M First NB of Ordway
Dec 16, 1988 First Southwest Bank Eldorado, OK $9.8M First State Bank&trust C
Dec 15, 1988 Texas National Bank Dallas, TX $37.7M Cornerstone Bank N.A.
Dec 15, 1988 First National Bank in Center Center, TX $26.1M Citizens Bank
Dec 15, 1988 Crescent City Bank & Trust Company New Orleans, LA $24.0M Omni Bank
Dec 15, 1988 Texas Bank of Plano Plano, TX $15.1M Plano East National Bank
Dec 15, 1988 First National Bank in Bogata Bogata, TX $13.2M Peoples National Bank
Dec 9, 1988 Silverado S&LA Denver, CO $2.32B Columbia Savings, a FS&LA
Dec 9, 1988 Caribank Dania, FL $525.8M Citibank Florida N.A.
Dec 9, 1988 Central Arkansas S&LA Conway, AR $10.1M —
Dec 8, 1988 First Bank & Trust Co. Duncan, OK $42.0M First Bank&trust Co
Dec 8, 1988 Resource Bank, N.A. Houston, TX $34.7M —
Dec 8, 1988 Waukomis State Bank Waukomis, OK $12.0M Cimarron Bank
Dec 1, 1988 Union Bank of Houston Houston, TX $55.4M Texas Commerce Bank N.A.
Dec 1, 1988 Texana National Bank of Belton Belton, TX $19.5M First NB of Temple
Dec 1, 1988 Oak Lawn Bank, N.A. Dallas, TX $10.3M Cornerstone Bank N.A.
Dec 1, 1988 Enterprise National Bank Englewood, CO $5.3M Colonial National Bank
Nov 18, 1988 First National Bank Covington, LA $262.2M Hibernia National Bank
Nov 17, 1988 The Bank of Kerrville Kerrville, TX $39.8M Bank of Kerrville
Nov 17, 1988 East Texas State Bank Buna, TX $21.3M First NB of Bonham
Nov 10, 1988 Cyprus Sa Plantation, FL $172.8M —
Nov 10, 1988 Avoyelles Trust & Savings Bank Bunkie, LA $27.1M Bunkie Bank&trust Co
Nov 10, 1988 American National Bank Tyler, TX $22.4M First NB of Winnsboro
Nov 10, 1988 Bank of the Northwest Woodward, OK $19.5M Bank of Woodward
Nov 10, 1988 Miami National Bank Miami, OK $9.2M Bank of Miami
Nov 10, 1988 The First National Bank of Gracemont Gracemont, OK $6.6M First State Bank
Nov 4, 1988 MT. Zion State Bank Mount Zion, IL $26.4M Mount Zion State B&T Co
Nov 3, 1988 Southwest National Bank Houston, TX $14.0M Spring National Bank
Oct 27, 1988 Frontier National Bank Round Rock, TX $39.5M First State Bank
Oct 27, 1988 Round Rock National Bank Round Rock, TX $37.0M First State Bank
Oct 27, 1988 Medical Center State Bank Oklahoma City, OK $8.7M American State Bank
Oct 20, 1988 Commercial Bank & Trust Company Metairie, LA $58.8M Pontchartrain State Bank
Oct 20, 1988 Security Bank Dallas, TX $21.8M Deposit Guaranty Bank
Oct 7, 1988 Liberty FSB Raton, NM $130.4M —
Oct 6, 1988 Financial Security S&LA Delray Beach, FL $150.1M —
Oct 6, 1988 Fidelity National Bank of Fort Worth Fort Worth, TX $33.8M Fidelity Bank
Oct 3, 1988 Liberty Bank & Trust Company Warsaw, IN $48.7M Trustcorp Bank Goshen
Sep 30, 1988 Watson State Bank Watson, MN $13.7M Minnwest Bank Montevideo
Sep 29, 1988 First State Bank Seminole, OK $12.2M First State Bank
Sep 26, 1988 Continental S&LA Bellaire, TX $363.7M —
Sep 23, 1988 Peoples S&LA La Grande, OR $22.5M —
Sep 23, 1988 Peoples State Bank of Meeker Meeker, CO $3.9M First NB of Meeker
Sep 22, 1988 The First State Bank in Talihina Talihina, OK $15.8M Spiro State Bank
Sep 22, 1988 Community Bank & Trust Rockdale, TX $14.9M Citizens NB of Cameron
Sep 22, 1988 The Security State Bank Comanche, OK $9.0M American National Bank
Sep 21, 1988 Mountainwest S&LA Ogden, UT $284.5M —
Sep 16, 1988 Ultimate Savings Bank Richmond, VA $206.5M —
Sep 15, 1988 Trinity National Bank San Antonio, TX $33.1M First NB of Rio Grande C
Sep 15, 1988 Town & Country Bank Bixby, OK $30.8M Brookside State Bank
Sep 15, 1988 Capital National Bank Fort Worth, TX $24.4M Central Bank&trust

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 30, 1988 First City Bank - Almeda Genoa TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Medical Center, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Market Center, National Association TX First City, Texas - Dallas
Sep 30, 1988 First City Bank of Humble TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City National Bank in Grand Prairie TX First City, Texas - Dallas
Sep 30, 1988 First City Bank - Bear Creek TX First City, Texas - Houston, N.A.
Sep 30, 1988 Amoco Texas Coast Fcu TX Amoco Federal Credit Union
Sep 30, 1988 First City Bank-Westheimer, N.A. TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Farmers Branch TX First City, Texas - Dallas
Sep 30, 1988 Charter National Bank - Willowbrook TX Charter National Bank-Colonial
Sep 30, 1988 OMNIBANC North Belt, National Association TX OMNIBANK, National Association
Sep 30, 1988 First of America Bank-Michigan City IN First of America Bank - Northwest Indiana, National Association
Sep 30, 1988 First City Bank - Inwood Forest, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Fondren South TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Valley View TX First City, Texas - Dallas
Sep 30, 1988 First City Bank-Northwest Hills, National Association TX First City, Texas - Austin, N.A.
Sep 30, 1988 First City Bank - Northchase, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Westheimer Plaza, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Northeast, N. A. TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Bellaire, N.A. TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank - Gulfgate TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Westwood, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank-Gateway, National Association TX First City, Texas - Beaumont, N.A.
Sep 30, 1988 First City Bank-Central TX First City, Texas - Beaumont, N.A.
Sep 30, 1988 First City Bank - North Belt, National Association TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank of Highland Village TX First City, Texas - Houston, N.A.
Sep 30, 1988 First City Bank of Garland, National Association TX First City, Texas - Dallas
Sep 30, 1988 First National Bank TX United Bank of Waco, N.A.
Sep 30, 1988 Southwest Bank TX United Bank of Waco, N.A.
Sep 30, 1988 Safety Federal Savings and Loan Association of Kansas City MO Home Federal Savings of Kansas City
Sep 30, 1988 Comunicorp, Inc. NY Community Financial System, Inc.
Sep 30, 1988 Sabine Bank TX United Bank of Waco, N.A.
Sep 30, 1988 First City Bank of Clear Lake TX First City, Texas - Houston, N.A.
Sep 30, 1988 (unnamed) — First City, Texas - San Antonio, N.A.
Sep 30, 1988 First Bancshares of Huntington, Inc. IN Society Bancorp of Indiana, Inc.
Sep 30, 1988 First City Bank - Windsor Park TX First City, Texas - San Antonio, N.A.
Sep 30, 1988 First City Bank of Richardson TX First City, Texas - Dallas
Sep 30, 1988 First City Bank - East Dallas TX First City, Texas - Dallas
Sep 30, 1988 First City Bank of Lancaster TX First City, Texas - Dallas
Sep 30, 1988 State National Bancorp of Frankfort, Inc. KY Whitaker Bancorp, Inc.
Sep 29, 1988 Alamo Express Federal Credit Union TX E M O T Federal Credit Union
Sep 29, 1988 Dana Detroit Employees Credit Union MI Motor City Co-Op Credit Union
Sep 28, 1988 Gibson Indianapolis Employees Federal Credit Union IN Indiana Members Credit Union
Sep 26, 1988 South Ridge Bank, Inc. NE West Gate Bank
Sep 24, 1988 Florida Legal Cu FL Fairwinds Credit Union
Sep 24, 1988 Peoples Bancshares Corporation OH Norwest Indiana, Inc.
Sep 24, 1988 SouthTrust Bank of Arab AL SouthTrust Bank of Marshall County, National Association
Sep 24, 1988 Arsenal Savings Association, Federal Association IN Union Federal Bank of Indianapolis
Sep 24, 1988 Merchants and Southern Bank of Clay County FL Merchants & Southern Bank
Sep 24, 1988 First Bank of Channahon IL Merchants and Manufacturers 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