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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
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
Oct 1, 1988 U. S. Steel Vandergrift Federal Credit Union PA Kennametal Employees Federal Credit Union
Oct 1, 1988 First National Bank-South TX First National Bank of Huntsville
Oct 1, 1988 MKT San Antonio Credit Union TX Generations Community Federal Credit Union
Oct 1, 1988 Jasco Empl Cu TX Resource One Credit Union
Oct 1, 1988 First Wyoming Bank - Wright WY Key Bank of Wyoming - Seventh and Douglas Highway, Gillette, Wyoming 827
Oct 1, 1988 Rcac Federal Credit Union CA Patelco Credit Union
Oct 1, 1988 Star Bank, Gallipolis OH Star Bank, National Association, Tri State
Oct 1, 1988 Crocker Employees Federal Credit Union CA Monterra Credit Union
Oct 1, 1988 U.S. Postal Service Federal Credit Union CA U S Postal Service Federal Credit Union
Oct 1, 1988 State Bank and Trust Company GA FLAG Bank
Oct 1, 1988 Metropolitan Medical Center Credit Union MN Associated Healthcare Credit Union
Oct 1, 1988 Peoria Graphic Arts Credit Union IL Citizens Equity First Credit Union
Oct 1, 1988 (unnamed) — Premier Bank - Acadiana, National Association
Oct 1, 1988 Calhoun-Gordon County Educational Credit Union GA LGE Community Credit Union
Oct 1, 1988 First Bank of Troy ID KeyBank National Association
Oct 1, 1988 Durr-Fillauer Cu AL Americas First Federal Credit Union
Oct 1, 1988 Bergner Associates Credit Union IL Citizens Equity First Credit Union
Oct 1, 1988 Key Bank of Long Island NY Key Bank of Southeastern New York National Association
Oct 1, 1988 Citizens Federal Savings and Loan Association of Newcastle IN Ameriana Bank
Oct 1, 1988 Dassel State Bank MN Marquette Bank Hutchinson, National Association
Oct 1, 1988 Saint Patrick Parish Credit Union IL Redbrand Credit Union
Oct 1, 1988 First Wyoming Bank - Meeteetse WY Key Bank of Wyoming - 1130 Sheridan Avenue, Cody, Wyoming 82414
Oct 1, 1988 Sun Company Employees Credit Union CA 1st Valley Credit Union
Oct 1, 1988 United Savings and Loan Association of Central Indiana IN First American Bank
Oct 1, 1988 (unnamed) — Bank One, Louisiana, National Association
Oct 1, 1988 Uscs Employees Federal Credit Union NJ Philadelphia Federal Credit Union
Oct 1, 1988 The State National Bank of New Iberia LA Premier Bank - Acadiana, National Association
Oct 1, 1988 USTrust/Essex MA USTrust
Oct 1, 1988 Mispoco Empl Cu MS Powerco Federal Credit Union
Oct 1, 1988 FRY's Employees Federal Credit Union AZ Sunwest Federal Credit Union
Oct 1, 1988 Health Care Credit Union WA Rainier Pacific Savings Bank
Oct 1, 1988 Murfreesboro Veterans Administration Federal Credit Union TN Ascend Federal Credit Union
Oct 1, 1988 Michigan Bank - Mid South MI Republic Bank
Oct 1, 1988 I.B. Mortgage Network, Inc. CA Imperial Bank
Oct 1, 1988 Gae Members Cu GA Pinnacle Credit Union
Oct 1, 1988 IB&T Corporation ID Key Bancshares of Idaho, Inc.
Oct 1, 1988 Professional Financial Services Credit Union IA Financial Plus Credit Union
Oct 1, 1988 Amalgamated Associates Company IL Amalgamated Investments Company
Oct 1, 1988 First Bancorp of Mascoutah, Ltd. IL First Bancorp of Mascoutah, Ltd.
Oct 1, 1988 Modoc County Grangers Credit Union CA Sierra Central Credit Union
Oct 1, 1988 Saint Louis De France Federal Credit Union MA St. Anne's Credit Union
Oct 1, 1988 (unnamed) — Norwest Bank Cedar Rapids, National Association
Oct 1, 1988 First Federal Savings Bank SC South Carolina Federal Savings Bank
Oct 1, 1988 Phillips 66 Employees Credit Union MO Arsenal Credit Union
Oct 1, 1988 Torrey Pines Federal Credit Union CA San Diego County Credit Union
Oct 1, 1988 Bedford County Bank TN First American Bank, Murfreesboro
Oct 1, 1988 Heritage Federal Savings Bank IN Railroadmen's Federal Savings and Loan Association of Indianapolis
Oct 1, 1988 Moores Employees Federal Credit Union VA Tremont Credit Union
Oct 1, 1988 Metro District #1 Federal Credit Union CO Canvas Credit Union
Sep 30, 1988 First City Bank of Northline TX First City, Texas - Houston, N.A.

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