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
Sep 24, 1988	The Frankton Savings and Loan Association	IN	Union Federal Savings Bank of Frankton
Sep 24, 1988	Citizens National Bank of Southington	CT	First Union Bank of Connecticut
Sep 24, 1988	The Bank of Ashippun	WI	F&M Bank of Slinger
Sep 23, 1988	MBank Corpus Christi South, National Association	TX	Corpus Christi National Bank
Sep 23, 1988	Washington Hospital Federal Credit Union	PA	Frick Financial Federal Credit Union
Sep 22, 1988	Loves Park FSB	IL	Homebanc, A Federal Savings Bank
Sep 21, 1988	Central Bank of Craig, N.A.	CO	First Security Bank of Craig
Sep 20, 1988	IV Corporate Woods Acquisition, Inc.	KS	Fourth Financial Corporation
Sep 19, 1988	(unnamed)	—	Mark Twain Illinois Bank
Sep 19, 1988	Crossroads National Bank	WV	Bank of Raleigh
Sep 18, 1988	First Midwest Bank/Lake County	IL	First Midwest Bank, National Association
Sep 18, 1988	First Midwest Bank/Zion	IL	First Midwest Bank, National Association
Sep 17, 1988	The Security Bank	WV	Community Bank & Trust, National Association
Sep 17, 1988	Ultimate Savings Bank Federal Savings Bank	VA	Citizens Federal Bank, A FSB
Sep 16, 1988	Shelbina Mercantile Bank	MO	Mercantile Bank of Northern Missouri
Sep 16, 1988	City/Town Municipal Employees Federal Credit Union	NY	Ufirst Federal Credit Union
Sep 16, 1988	Everybodys Credit Union	OH	Trupartner Credit Union, Inc.
Sep 16, 1988	Freedom Federal Savings and Loan Association	OR	WaFd Bank
Sep 16, 1988	Salisbury Mercantile Bank	MO	Mercantile Bank of Northern Missouri
Sep 15, 1988	Coosa FS&LA	AL	Regions Bank of Louisiana
Sep 13, 1988	Southeastern Fcu	FL	Jetstream Federal Credit Union
Sep 12, 1988	(unnamed)	—	River City Bank
Sep 11, 1988	First Midwest Bank/North Chicago, a National Association	IL	First Midwest Bank, National Association
Sep 11, 1988	First Midwest Bank/Lake Forest, a National Association	IL	First Midwest Bank, National Association
Sep 10, 1988	Acco Bridgeport Employees Federal Credit Union	CT	McKesson Federal Credit Union
Sep 10, 1988	Bank of Hunnewell	MO	Alliant Bank
Sep 10, 1988	The First National Bank of Tuskaloosa	AL	AmSouth Bank
Sep 9, 1988	Robanco Financial Corp.	IN	Norwest Indiana, Inc.
Sep 9, 1988	The First National Bank of Rochester	IN	Norwest Bank Rochester
Sep 9, 1988	North Wilkesboro Federal Savings and Loan Association	NC	Wachovia Bank, National Association
Sep 8, 1988	Fidelity Federal Savings and Loans Association of Berwyn	IL	United Savings of America
Sep 6, 1988	The Colonial Bank of Hartselle	AL	Colonial Bank
Sep 3, 1988	First Security Bank	MO	(unnamed)
Sep 2, 1988	Monwar Employees Federal Credit Union	WV	National Employees Federal Credit Union
Sep 2, 1988	The Abington National Bank	MA	Granite Co-Operative Bank
Sep 2, 1988	Milford Building & Loan Association	DE	The Sussex Trust Company
Sep 2, 1988	Citizens FS&LA	FL	Citizens Federal Savings Association
Sep 1, 1988	First American National Bank	TN	First American National Bank
Sep 1, 1988	Goodyear Lawton Credit Union	OK	Communication Federal Credit Union
Sep 1, 1988	The First National Bank of Collinsville	IL	(unnamed)
Sep 1, 1988	Continental Illinois Trust Company of Sarasota, National Association	FL	Bank of America Trust Company of Florida, National Association
Sep 1, 1988	(unnamed)	—	Commerce Bank, National Association
Sep 1, 1988	Melbourne Savings Bank	IA	The First State Bank
Sep 1, 1988	Portage County Postal Employees Credit Union, Inc.	OH	Kent Credit Union, Inc.
Sep 1, 1988	P.A.B. Federal Credit Union	PA	Greater Pittsburgh Federal Credit Union
Sep 1, 1988	P W C Employees Federal Credit Union	IN	Financial Builders Federal Credit Union
Sep 1, 1988	Imco Credit Union	MO	United Consumers Credit Union
Sep 1, 1988	Marvel-York Credit Union	IL	Staley Credit Union
Sep 1, 1988	First Wyoming Bank-Hanna	WY	Key Bank of Wyoming - Fourth and Buffalo, Rawlins, Wyoming 82301
Sep 1, 1988	Bondshire Credit Union	WI	Park City 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

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