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
Jun 2, 1988	Guaranty Bank	Dallas, TX	$82.1M	Red Oak State Bank
Jun 2, 1988	River Plaza National Bank	Forth Worth, TX	$41.8M	Tarrant Bank
Jun 2, 1988	Williamstown Bank, N.A.	Houston, TX	$23.0M	City National Bank
Jun 2, 1988	Security Bank of Boulder	Boulder, CO	$14.1M	First NB in Boulder
Jun 2, 1988	Security Bank of Aurora	Aurora, CO	$10.9M	Security Bank of Colorad
Jun 2, 1988	Community State Bank	Whiting, IA	$5.1M	Sloan State Bank
May 27, 1988	Sandy State Bank	Sandy, UT	$8.9M	Zions First National Ban
May 26, 1988	The First State Bank	Rockwall, TX	$39.9M	Community Bank
May 26, 1988	First National Bank of Kingswood	Kingswood, TX	$16.1M	Interstate Bank North
May 26, 1988	Lone Star Bank	Harris County (Bayto, TX	$13.0M	Citizens B&T Co Baytown
May 24, 1988	Universal S&LA	Scottsdale, AZ	$116.8M	—
May 19, 1988	National Bank of Texas	Houston, TX	$19.4M	Old Braeswood National B
May 13, 1988	Cardinal Savings Bank	Newport, NC	$93.9M	—
May 13, 1988	Westside National Bank	Houston, TX	$32.2M	Compass Bank Houston N.A.
May 12, 1988	The First State Bank	Childress, TX	$14.9M	Citizens STB of Dalhart
May 6, 1988	Forest City Bank & Trust Co.	Forest City, IA	$26.6M	Liberty Bank&trust
May 5, 1988	Union Bank & Trust of Dallas	Dallas, TX	$36.7M	Cornerstone Bank N.A.
May 5, 1988	Lincoln National Bank	Arlington, TX	$13.0M	Tarrant Bank
Apr 29, 1988	American FS&LA	Anderson, IN	$145.8M	—
Apr 29, 1988	Oak Park Bank	Oak Park Heights, MN	$21.1M	St Croix Valley Bank
Apr 22, 1988	The Village Bank	Great Falls, MT	$21.7M	Village Bank of Great F.A.
Apr 22, 1988	Unity Bank	Dayton, OH	$7.1M	First National Bank
Apr 21, 1988	Texas National Bank	Austin, TX	$18.5M	—
Apr 21, 1988	Citizens National Bank	Colorado Springs, CO	$18.3M	State B&T of Co Springs
Apr 19, 1988	MC Allen State Bank	McAllen, TX	$580.0M	First City NB of Houston
Apr 15, 1988	Colonial Thrift & Loan Association	Culver City, CA	$26.8M	Southern Pacific TH&L As
Apr 15, 1988	Metropolitan Industrial Bank	Denver, CO	$12.4M	Resources Industrial Ban
Apr 14, 1988	CY-Fair Bank, N.A.	Harris County, TX	$13.9M	Charter NB Willowbrook
Apr 14, 1988	Jennings Bank	Jennings, KS	$7.1M	Bank of Oberlin
Apr 8, 1988	First Federal of Shawnee	Shawnee, OK	$130.7M	—
Apr 8, 1988	Citizens State Bank of Eagle Bend	Eagle Bend, MN	$10.0M	Lake Country State Bank
Apr 7, 1988	Central National Bank	Dallas, TX	$15.9M	Deposit Guaranty Bank
Apr 7, 1988	Home State Bank	Trent, TX	$5.4M	Farmers&merchants NB Mer
Mar 31, 1988	Union Bank & Trust Company	Oklahoma City, OK	$182.5M	Union Bank&trust Co
Mar 31, 1988	First Bank & Trust	Tomball, TX	$68.7M	Hamilton National Bank
Mar 25, 1988	First National Bank of Del City	Del City, OK	$30.9M	Lincoln National Bank
Mar 24, 1988	Century Bank	Tulsa, OK	$70.8M	Fourth NB of Tulsa
Mar 24, 1988	Cashion Community Bank	Cashion, OK	$6.7M	Community State Bank
Mar 18, 1988	State Bank of Morgan	Morgan, MN	$20.3M	Farmers&merchants STB SP
Mar 18, 1988	Citizens State BK of Gibbon	Gibbon, MN	$15.1M	Minnesota Valley Bank
Mar 17, 1988	First National Bank of Port Allen	Port Allen, LA	$19.6M	Iberville Trust&savings
Mar 11, 1988	First FS&LA of Paducah	Paducah, KY	$130.9M	—
Mar 11, 1988	First Intercounty Bank of New York	New York, NY	$44.1M	Community NB&T Co of NY
Mar 10, 1988	The First Nat Bank & Trust Co. of Cushing	Cushing, OK	$60.3M	American NB of Bristow
Mar 10, 1988	First American Bank & Trust of Baytown	Baytown, TX	$38.2M	Citizens B&T Co Baytown
Mar 10, 1988	Hayesville Savings Bank	Hayesville, IA	$38.0M	Farmers Savings Bank
Mar 10, 1988	Security Bank of Denver, N.A.	Denver, CO	$17.0M	City Center National Ban
Mar 10, 1988	First American Bank & Trust of Manvel	Manvel, TX	$12.3M	First National Bank of a
Mar 10, 1988	First American Bank & TR of Friendswood	Friendswood, TX	$6.4M	—
Mar 10, 1988	Frenchman Valley Bank	Palisade, NE	$2.8M	—

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

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