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
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 5, 1988 Citizens State Bank of Pleasant Hill IL First Bank
Dec 5, 1988 Bank of the West TX Wells Fargo Bank Texas, National Association
Dec 5, 1988 Roodhouse National Bank IL First Bank
Dec 5, 1988 The Mingo National Bank of Mingo Junction OH The Miners and Mechanics Savings and Trust Company
Dec 5, 1988 First Bank of Columbia, National Association IL First Bank
Dec 5, 1988 Arnold State Bank NE Pinnacle Bank
Dec 3, 1988 Farmers State Bank WI First National Bank in Viroqua
Dec 3, 1988 Viola Insurance Agency, Inc. WI Firsnabanco, Inc.
Dec 2, 1988 First Bank MA Shawmut Arlington Trust Company
Dec 2, 1988 The First National Bank of Loysville PA CCNB Bank, National Association
Dec 1, 1988 JFK Federal Credit Union MA Tremont Credit Union
Dec 1, 1988 Town & Country Shoe Federal Credit Union MO Central Missouri Community Credit Union
Dec 1, 1988 Aurora U.S. Industrial Bank CO American Industrial Bank of Aurora
Dec 1, 1988 Hartland Bancorp., Inc. WI M&I LLC
Dec 1, 1988 Aurora First National Bancorp IN Star Banc Corporation, Indiana
Dec 1, 1988 La Frey Fcu LA 705 Federal Credit Union
Dec 1, 1988 Saint Marys Lorain Parish Federal Credit Union OH Lormet Community Federal Credit Union
Dec 1, 1988 Greater Milwaukee Financial Corp. WI M&I LLC
Dec 1, 1988 Village Banc Holding Co., Inc. WI M&I LLC
Dec 1, 1988 Key Bank of Southern Maine ME KeyBank National Association
Dec 1, 1988 Key Bank of Northern Maine ME KeyBank National Association
Dec 1, 1988 Cato Employees Federal Credit Union NC Alero Financial Credit Union
Dec 1, 1988 Dallas News Empl Cu TX Resource One Credit Union
Dec 1, 1988 Key Bank of Eastern Maine ME KeyBank National Association
Dec 1, 1988 Star Bank, National Association, Aurora IN Star Bank, National Association, Southeastern Indiana
Dec 1, 1988 The First National Bank of Maiden Rock WI Pierce County Bank and Trust Company
Dec 1, 1988 Signal Empl Cu TN Scenic Community Credit Union
Dec 1, 1988 Ua Local 469 Credit Union AZ Arizona Central Credit Union
Dec 1, 1988 First National Bank in Galva IL Wells Fargo Bank Illinois, National Association
Dec 1, 1988 First State Bank of Edgerton WI M&I Bank South
Dec 1, 1988 Leveranz Shoe Credit Union WI Sheboygan Area Credit Union
Dec 1, 1988 Commerce Bank of Harrisonville, N. A. MO Commerce Bank
Dec 1, 1988 Commerce Bank of Lexington, National Association MO Commerce Bank
Dec 1, 1988 Norwest Bank Owatonna, National Association MN Norwest Bank Minnesota South, N.A.
Dec 1, 1988 Austin Steel Cu TX Resource One Credit Union
Nov 30, 1988 United Bank of Belvidere IL First of America-North Central Illinois, National Association
Nov 29, 1988 American Security Company of Bedford, Incorporated IN National Processing Company
Nov 29, 1988 Riley Company, Inc. IN Merchants National Corporation
Nov 28, 1988 Pilot Point Bancshares Corporation TX Pilot Point Bancorp, Inc.
Nov 25, 1988 Bankcenter One MO Mark Twain Bank
Nov 23, 1988 Pueblo U.S. Industrial Bank CO American Industrial Bank, Inc
Nov 23, 1988 Colorado Springs U.S. Industrial Bank CO American Industrial Bank, Inc
Nov 23, 1988 Gsa No 3 Federal Credit Union DC Justice Federal Credit Union
Nov 22, 1988 Carver County Bancshares, Inc. MN Midamerica Bancshares, Inc.
Nov 21, 1988 (unnamed) — First Midwest Bank
Nov 21, 1988 Naper Bank Bolingbrook IL Firstar Bank Illinois
Nov 21, 1988 Wyoming National Bank Cheyenne East WY Norwest Bank Wyoming Cheyenne, National Association
Nov 19, 1988 Clay County Bank TN DeKalb County Bank & Trust Company
Nov 19, 1988 Sunshine Bank of Fort Walton Beach FL Regions Bank of Florida
Nov 17, 1988 Mutual Service Credit Union NC Truliant Federal Credit Union

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