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
Dec 31, 1988	Cal America Savings and Loan Association, a Federal Savings and Loan Association	CA	Columbus Savings, a Federal Savings and Loan Association
Dec 31, 1988	Premier Bank - Acadiana, National Association	LA	Bank One, Louisiana, National Association
Dec 31, 1988	Cosmopolitan Financial Services, Inc.	IL	Edgemark Financial Corporation
Dec 31, 1988	Citizens State Bank of Green Isle	MN	MidAmerica Bank Chaska
Dec 31, 1988	Valley Bank and Trust Company	WV	(unnamed)
Dec 31, 1988	(unnamed)	—	Bank One, Louisiana, National Association
Dec 31, 1988	South FL SVG FS&LA	FL	Southeast Bank for Savings, A FSB
Dec 31, 1988	Edgemark Financial Corporation	IL	Edgemark Financial Corporation
Dec 31, 1988	The First National Bank of Peckville	PA	PNC Bank, Northeast PA
Dec 31, 1988	First Federal Savings and Loan Association of Elgin	IL	First Federal of Elgin, F.S.A.
Dec 31, 1988	Farmers State Bank	KS	First Kansas Bank
Dec 31, 1988	Colorado Springs Security Pacific Industrial Bank	CO	Security Pacific Finance System Incorporated
Dec 31, 1988	Peoples Exchange Bank	WI	Valley Bank, Menomonie
Dec 31, 1988	Union National Corporation	PA	Integra Financial Corporation
Dec 31, 1988	Peoples Bank	PA	Community Banks, National Association
Dec 31, 1988	(unnamed)	—	Community Bank
Dec 31, 1988	Princeton Applied Research Federal Credit Union	NJ	Edifi Federal Credit Union
Dec 31, 1988	(unnamed)	—	Firstar Bank, National Association
Dec 31, 1988	Fort Drum Federal Credit Union	NY	Americu Credit Union
Dec 31, 1988	The Pen Argyl National Bank	PA	Lafayette Ambassador Bank
Dec 31, 1988	Pennbancorp	PA	Integra Financial Corporation
Dec 31, 1988	Braeburn Steel Employees Federal Credit Union	PA	Western Pa Federal Credit Union
Dec 31, 1988	Vermont Holding Corporation	MA	Key Bancshares of Vermont Inc.
Dec 31, 1988	The Premier Bank of South Louisiana	LA	Bank One, Louisiana, National Association
Dec 31, 1988	Tracy-Collins Bank and Trust Company	UT	U.S. Bank of Utah
Dec 31, 1988	XYZ Acquisition Corp.	NY	Irving Bank Corporation
Dec 31, 1988	Marine Midland Properties Corporation	NY	HSBC USA Inc.
Dec 31, 1988	United Federal Savings & Loan Association	SD	Home Federal Bank
Dec 31, 1988	Peoples Safe Deposit Bank, Saint Clair	PA	Community Banks, National Association
Dec 30, 1988	Farmers and Merchants Bank	AR	First National Bank of Eastern Arkansas
Dec 30, 1988	First Wyoming Bancorporation	WY	Key Bancshares of Wyoming, Inc.
Dec 30, 1988	Charter National Bank - Southwest	TX	Charter National Bank - Houston
Dec 30, 1988	Nicholson Voting Trust Agreement	PA	Comm Bancorp, Inc.
Dec 30, 1988	First City Bank-Forest Hill	TX	First City, Texas - Dallas
Dec 30, 1988	Arrowhead Federal Savings and Loan Association	OK	Equity Bank for Savings, F.A.
Dec 30, 1988	First City National Bank of Colleyville	TX	First City, Texas - Dallas
Dec 30, 1988	Keystone Savings & Loan Association	TX	Pacific Southwest Bank
Dec 30, 1988	City Bank-Rankin	IL	City Potomac Bank
Dec 30, 1988	First City Bank of Lewisville	TX	First City, Texas - Dallas
Dec 30, 1988	First City Bank-Central Arlington, National Association	TX	First City, Texas - Dallas
Dec 30, 1988	Columbia Savings, a, Federal Savings and Loan Association	CO	Columbia Savings, a Federal Savings and Loan Association
Dec 30, 1988	Doss Financial Bancshares, Inc.	TX	Texasbanc Holding Co.
Dec 30, 1988	First City Bank of Plano, National Association	TX	First City, Texas - Dallas
Dec 30, 1988	(unnamed)	—	First Interstate Bank of California
Dec 30, 1988	First City National Bank of Fort Worth	TX	First City, Texas - Dallas
Dec 30, 1988	First City National Bank of Arlington	TX	First City, Texas - Dallas
Dec 29, 1988	Landmark Bank of St. Clair County	IL	Magna Bank of Illinois
Dec 29, 1988	Landmark Bank of Mascoutah	IL	Magna Bank of Illinois
Dec 29, 1988	Landmark Bank of Edgemont	IL	Magna Bank of Illinois
Dec 29, 1988	First National Bank	MN	First National Bank

The list holds 500 of the 1,275 mergers recorded for 1988.

FDIC Open-Bank Assistance in 1988

Date	Institution	HQ	Assets
Apr 20, 1988	First City, Texas - Westheimer	Houston, TX	$67.0M
Apr 20, 1988	First City, Texas - Westheimer Plaza	Houston, TX	$62.6M
Apr 20, 1988	First City, Texas - Fondren South	Houston, TX	$62.5M
Apr 20, 1988	First City, Texas - Northline	Houston, TX	$61.5M
Apr 20, 1988	First City, Texas - Plano	Plano, TX	$59.5M
Apr 20, 1988	First City, Texas - Fort Worth	Fort Worth, TX	$58.8M
Apr 20, 1988	First City, Texas - North Belt	Houston, TX	$56.7M
Apr 20, 1988	First City, Texas - Colleyville	Colleyville, TX	$55.0M
Apr 20, 1988	First City, Texas - Northchase	Houston, TX	$53.6M
Apr 20, 1988	First City, Texas - Northwest Hills	Austin, TX	$52.7M
Apr 20, 1988	First City, Texas - Medical Center	Houston, TX	$52.4M
Apr 20, 1988	First City, Texas - Bellaire	Bellaire, TX	$51.1M
Apr 20, 1988	First City, Texas - Aransas Pass	Aransas Pass, TX	$48.9M
Apr 20, 1988	First City, Texas - San Antonio	San Antonio, TX	$47.7M
Apr 20, 1988	First City, Texas - Bear Creek	Harris County, TX	$46.0M
Apr 20, 1988	First City, Texas - Sour Lake	Sour Lake, TX	$45.8M
Apr 20, 1988	First City, Texas - Forest Hill	Forest Hill, TX	$44.8M
Apr 20, 1988	First City, Texas - Kountze	Kountze, TX	$34.6M
Apr 20, 1988	First City, Texas - Westwood	Houston, TX	$25.6M
Apr 15, 1988	Burns State Bank	Burns, KS	$4.4M
Apr 12, 1988	Valley Federal Savings and Loan	Erwin, TN	$80.5M
Apr 11, 1988	Tri-Cities Savings and Loan	Kennewick, WA	$53.1M
Apr 11, 1988	Citizens Savings and Loan	East Alton, IL	$36.4M
Mar 15, 1988	Morehead National Bank	Morehead, KY	$7.6M
Mar 11, 1988	First Federal Savings Bank	Waterloo, IA	$152.3M
Mar 11, 1988	Peoples FS&LA	Waterloo, IA	$151.3M
Mar 11, 1988	First Federated Savings Bank	N. Palm Beach, FL	$141.7M
Mar 11, 1988	Perpetual S&LA	Waterloo, IA	$112.8M
Mar 10, 1988	First FS&LA of Craig	Craig, CO	$30.1M
Feb 12, 1988	American National Bank	Parma, OH	$27.8M
Feb 10, 1988	Magnet Bank FSB	Charleston, WV	$547.1M
Feb 10, 1988	Mountain State FS&LA	Clarksburg, WV	$91.4M
Feb 10, 1988	Traders FS&LA	Parkersburg, WV	$68.5M
Jan 28, 1988	Alaska Mutual Bank	Anchorage, AK	$1.18B
Jan 28, 1988	United Bank Alaska	Anchorage, AK	$314.3M
Jan 27, 1988	Citizens State Bank	Hayfield, MN	$28.0M
Jan 13, 1988	The Jefferson Guaranty Bank	Metairie, LA	$292.4M
Jan 7, 1988	The Peoples State Bank & Trust Co	Ellinwood, KS	$36.6M

Browse adjacent years: 1987 · 1989

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