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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
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
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

Or jump to a category: Failures · Mergers · Enforcement · Assistance