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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
Sep 15, 1988 River City Bank Castle Hills, TX $15.1M Citizens STB of Luling
Sep 15, 1988 Citizens Bank of Littleton Littleton, CO $6.4M Equitable BK of Littleto
Sep 8, 1988 The Sylvia State Bank Sylvia, KS $5.9M Turon State Bank
Sep 1, 1988 American Bank of Muskogee Muskogee, OK $28.6M Citizens NB&T of Muskoge
Sep 1, 1988 Commercial State Bank San Augustine, TX $25.6M Hamilton National Bank
Sep 1, 1988 Pioneer National Bank Arlington, TX $20.3M Deposit Guaranty Bank
Sep 1, 1988 Mingo Trust & Savings Bank Mingo, IA $12.1M Exchange State Bank
Sep 1, 1988 Pisgah Savings Bank Pisgah, IA $9.7M Iowa Savings Bank
Sep 1, 1988 First National Bank of Atascocita Harris County, TX $9.4M First Interstate BK of T
Sep 1, 1988 Lakeland State Bank Camden County, MO $9.3M Community Bank of the Oz
Aug 31, 1988 Frontier Savings & Loan Ponca City, OK $1.03B Commercial Fed BK a FSB
Aug 31, 1988 Phoenix FS&LA Muskogee, OK $419.4M Cimarron FS&LA
Aug 31, 1988 Home Savings Bank, F.A. Lawton, OK $264.1M Red River FS&LA
Aug 31, 1988 Home S&LA Bartlesville, OK $173.5M Cimarron FS&LA
Aug 31, 1988 Kingfisher FS&LA Kingfisher, OK $124.4M Chisholm
Aug 31, 1988 First FS&LA Elk City, OK $106.7M Red River FS&LA
Aug 31, 1988 Heritage S&LA Elk City, OK $80.8M Red River
Aug 31, 1988 Peoples FS&LA Ardmore, OK $49.9M Red River FS&LA
Aug 26, 1988 Biwabik State Bank Biwabik, MN $3.2M First National Bank
Aug 25, 1988 Bank of the Mid-South Bossier City, LA $41.8M Red River Valley Bank
Aug 25, 1988 Highland Park National Bank Dallas, TX $26.3M Deposit Guaranty Bank
Aug 25, 1988 Bancfirst-Westlake, N.A. Austin, TX $15.0M Union National Bank of T
Aug 19, 1988 Sunbelt Savings Association of Texas Dallas, TX $2.21B Sunbelt Savings FSB
Aug 19, 1988 First City Savings Association Irving, TX $227.0M Sunbelt Savings FSB
Aug 19, 1988 Multibanc Savings Association Dallas, TX $190.7M Sunbelt Savings FSB
Aug 19, 1988 Federated S&LA San Antonio, TX $150.1M Sunbelt Savings FSB
Aug 19, 1988 Texana S&LA Texarkana, TX $78.1M Sunbelt Savings FSB
Aug 19, 1988 Marshall County Bank Britton, SD $10.7M First National Bank
Aug 18, 1988 Town & Country National Bank Harlingen, TX $29.6M Harlingen National Bank
Aug 18, 1988 First National Bank Austin Austin, TX $26.0M First State Bank
Aug 18, 1988 Citizens State Bank Maud, OK $11.1M Bank National Assn
Aug 11, 1988 First Bank Balch Springs, TX $46.2M Gateway National Bank
Aug 11, 1988 West Houston National Bank Houston, TX $26.4M Texas Commerce Bank N.A.
Aug 11, 1988 Galena Park State Bank Galena Park, TX $24.8M Lockwood NB of Houston
Aug 4, 1988 Farmers & Merchants Bank of Elmo Elmo, MO $9.2M First Bank of Maryville
Aug 3, 1988 Alaska Continental Bank Anchorage, AK $51.5M First Interstate Bank of
Aug 2, 1988 First Republicbank Delaware Newark, DE $582.4M Citibank Delaware
Jul 29, 1988 First Republicbank-Dallas, N.A. Dallas, TX $17.09B NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Houston, N.A. Houston, TX $2.71B NCNB Texas National Bank
Jul 29, 1988 First REPUBLICBANK-FT. Worth, N.A. Ft. Worth, TX $1.96B NCNB Texas National Bank
Jul 29, 1988 First Republicbank- Austin, N.A. Austin, TX $1.69B NCNB Texas National Bank
Jul 29, 1988 First Republicbank-San Antonio San Antonio, TX $797.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Waco, N.A. Waco, TX $716.3M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Midland, N.A. Midland, TX $659.4M NCNB Texas National Bank
Jul 29, 1988 National Bank of FT. Sam Houston Ft. Sam Houston, TX $634.8M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Tyler, N.A. Tyler, TX $610.4M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Lubbock, N.A. Lubbuck, TX $528.1M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Wichita Falls Wichita Falls, TX $304.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Galveston, N.A. Galveston, TX $257.2M NCNB Texas National Bank
Jul 29, 1988 First Republicbank-Jefferson County Beaumont, TX $240.7M NCNB Texas National 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
Aug 1, 1988 (unnamed) — United Trust Bank
Aug 1, 1988 Coastal Banc Federal Savings and Loan Association TX Coastal Banc, S.S.B.
Aug 1, 1988 Delray Beach City Employees Credit Union FL Guardians Credit Union
Aug 1, 1988 Peoples Bank TN First American Bank, Clarksville
Aug 1, 1988 Co-Lith-Co Credit Union KY Louisville Metro Police Officers Credit Union
Aug 1, 1988 Neenah Paper Credit Union WI Linden Credit Union
Aug 1, 1988 Nicholls State Bank GA Southeastern Bank
Aug 1, 1988 Knights of Pythias-Detroit Lodge 55 Credit Union MI Vibe Credit Union
Aug 1, 1988 Bank of Contra Costa CA First Interstate Bank of California
Aug 1, 1988 First State Bank of Wyanet IL AMCORE Bank, Princeton
Aug 1, 1988 N.A. of the Deaf Credit Union MD Central Credit Union of Maryland
Aug 1, 1988 Southern California Floral Association Federal Credit Union CA Am Federal Credit Union
Aug 1, 1988 Building Trades Credit Union MI Elga Credit Union
Aug 1, 1988 FirstBank TX FirstBank
Aug 1, 1988 Bank of Oklahoma Grove OK BOKF, N.A.
Aug 1, 1988 Eas Employees Credit Union MO Alliance Credit Union
Aug 1, 1988 First Southern Bank TN First American National Bank
Aug 1, 1988 Memphis Refinery Employees Federal Credit Union TN Southern Security Federal Credit Union
Aug 1, 1988 Beverly Savings Bank MA Warren Five Cents Savings Bank
Aug 1, 1988 Sherry Lane National Bank TX Metropolitan National Bank
Aug 1, 1988 Commercial National Bank OH The Fifth Third Bank of Northwestern Ohio, National Association
Aug 1, 1988 Saint Anthony Parish Credit Union, Inc. OH Lormet Community Federal Credit Union
Jul 31, 1988 Columbian Financial Corporation KS Columbian Financial Corporation
Jul 31, 1988 Topeka Bank Shares, Inc. KS Columbian Financial Corporation
Jul 31, 1988 CRG Employees Federal Credit Union NJ Aspire Federal Credit Union
Jul 30, 1988 Newco 1 MN PB Bancorp of Cedar Rapids, Inc.
Jul 30, 1988 Nevada County National Bank CA The Bank of Commerce, National Association
Jul 30, 1988 Merit Savings Bank CA Charter Savings Bank, FSB
Jul 30, 1988 Mutual Savings and Loan Association IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 The Mitsubishi Bank of California CA The Bank of California, National Association
Jul 30, 1988 Franklin County Ga Fcu GA Stephens-Franklin Teachers Federal Credit Union
Jul 30, 1988 Valley Bank Middleton WI Valley Bank
Jul 30, 1988 Norwest Bank Grand Rapids, National Association MN Norwest Bank Minnesota North, National Association
Jul 30, 1988 Valley Bank Monona Grove WI Valley Bank
Jul 30, 1988 Republic Savings, A Federal Savings and Loan Association IL River Valley Savings Bank
Jul 30, 1988 Norwest Bank Albert Lea, National Association MN Norwest Bank Minnesota South Central, National Association
Jul 30, 1988 Norwest Bank Austin, National Association MN Norwest Bank Minnesota South Central, National Association
Jul 30, 1988 Saint Margarets Montgomery Fcu AL Montgomery Va Federal Credit Union
Jul 30, 1988 United Jersey Bank/Franklin State NJ United Jersey Bank/Central, National Association
Jul 30, 1988 Colonial Bank of Granite City IL Magna Bank of Madison County
Jul 30, 1988 Potomac Bancorp, Inc. IL City Financial Bancorp, Inc.
Jul 30, 1988 Galva Federal Savings and Loan Association IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 Norwest Bank Dodge Center MN Norwest Bank Minnesota South, National Association
Jul 30, 1988 Valley Bank Brooklyn WI Valley Bank
Jul 30, 1988 Norwest Bank Litchfield, National Association MN Norwest Bank Minnesota Central, National Association
Jul 30, 1988 Norwest Bank Two Harbors, National Association MN Norwest Bank Minnesota North, National Association
Jul 30, 1988 Home Federal Savings and Loan Association of Peoria IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 The First National Bank of Mondovi WI Alliance Bank
Jul 30, 1988 Norwest Bank Sauk Rapids, National Association MN Norwest Bank Minnesota Central, National Association
Jul 30, 1988 Norwest Bank Winona, National Association MN Norwest Bank Minnesota South, National Association

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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