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
Nov 1, 1988 Carnes Employees Credit Union WI Heartland Credit Union
Nov 1, 1988 Continental Illinois Bank - South Suburban IL First National Bank
Nov 1, 1988 Hardin County State Bank IL Area Bank
Nov 1, 1988 Morton Grove Metropolitan Federal Credit Union IL Access Credit Union
Nov 1, 1988 Richmond Hill Savings Bank NY North Side Savings Bank
Nov 1, 1988 First State Savings and Loan Association NC SouthTrust Bank of North Carolina
Nov 1, 1988 Champlain Valley Credit Union VT North Country Federal Credit Union
Nov 1, 1988 East Weymouth Savings Bank MA SouthState Bank for Savings
Nov 1, 1988 Louis C Buehler Credit Union IN Family Horizons Credit Union
Nov 1, 1988 Natco Empl Fcu LA Onpath Federal Credit Union
Oct 31, 1988 N.G.B.S. Investments, Incorporated GA Wachovia Corporation of Georgia
Oct 31, 1988 Waynesboro Savings Association PA Home Federal Savings Bank
Oct 31, 1988 Bank of Mid America KS Bank IV, National Association
Oct 28, 1988 Sheridan Bancorp, Inc. OK American National Bancorp, Inc.
Oct 28, 1988 Federal Savings Bank of Maryland MD Provident Bank of Maryland
Oct 28, 1988 Msa Federal Credit Union PA Tri Boro Federal Credit Union
Oct 26, 1988 Ewac Federal Credit Union NY People's Alliance Federal Credit Union
Oct 24, 1988 Citizens Bank of Grant City, Missouri MO Bank Midwest, N.A.
Oct 24, 1988 Security National Bank TX Banccentral
Oct 24, 1988 Federal-Hoffman Credit Union MN Anoka Hennepin Credit Union
Oct 22, 1988 The First Jersey National Bank/Central NJ National Westminster Bank USA
Oct 21, 1988 First Fulton Bancshares, Inc. GA First City Bancorp, Inc.
Oct 21, 1988 (unnamed) — Barnett Bank of Atlanta
Oct 20, 1988 Mountain State Bank, a Federal Savings Bank ID Security Pacific Bank Idaho, N.A.
Oct 20, 1988 Times Media Group Credit Union FL Florida Credit Union
Oct 18, 1988 Merchants State Holding Company TN Union Planters Corporation
Oct 18, 1988 Lake City Bancshares Inc SC The National Bank of South Carolina
Oct 18, 1988 Ajax Corry Federal Credit Union PA Widget Federal Credit Union
Oct 18, 1988 Lake City State Bank SC The National Bank of South Carolina
Oct 17, 1988 Southwest Thrift & Loan Association CA Southwest Bank
Oct 17, 1988 U.S. Coast Guard Federal Credit Union NY Aspire Federal Credit Union
Oct 15, 1988 Doctors Hospital Stark County Federal Credit Union OH Stark Federal Credit Union
Oct 15, 1988 Community Bank of Morgan County AL Community Bank
Oct 15, 1988 The First National Bank of Franklin County at Decherd TN First Union National Bank of Tennessee
Oct 15, 1988 Community Bank of Marshall County AL Community Bank
Oct 14, 1988 Peabody Credit Union CT Alero Financial Credit Union
Oct 13, 1988 First Federal Savings and Loan Association KY Republic Savings Bank, FSB
Oct 11, 1988 (unnamed) — NBD Trust Company of Florida, National Association
Oct 11, 1988 Marvel Employees Credit Union IL Staley Credit Union
Oct 8, 1988 First Jersey National Bank/South NJ National Westminster Bank USA
Oct 6, 1988 Mutual Credit Union NY Yorkville Federal Savings
Oct 4, 1988 Genesee Hospital Federal Credit Union NY Advantage Federal Credit Union
Oct 4, 1988 Sahara Bancorp, Inc. WI Firstar Corporation of Minnesota
Oct 4, 1988 F.W.D.P. Corporation WI Firstar Corporation of Illinois
Oct 4, 1988 F.W.N.F. Corporation WI Firstar Corporation of Illinois
Oct 3, 1988 Pawnee County Bank NE Union Bank and Trust Company
Oct 3, 1988 Banco de Vizcaya, S.A. — Banco Bilbao Vizcaya Argentaria, S.A.
Oct 3, 1988 Belt American Bank of St. Joseph MO Mercantile Bank of St. Joseph
Oct 3, 1988 Capital Federal Savings and Loan Association IN Pinnacle Bank
Oct 2, 1988 Texize Employees Federal Credit Union SC CPM 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