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

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
Mar 3, 1988	The Home State Bank	Russell, KS	$59.9M	First NB&T Co of Salina
Mar 3, 1988	Flower Mound Bank	Flower Mound, TX	$17.4M	Security Bank
Feb 25, 1988	Harris County Bank Houston, N.A.	Houston, TX	$80.7M	Omnibanc South National
Feb 25, 1988	American National Bank	Stafford, TX	$31.3M	Park NB of Houston
Feb 25, 1988	Collin County State Bank	Melissa, TX	$12.5M	Willow Bend National Ban
Feb 18, 1988	The Farmers & Merchants BK of Hill City	Hill City, KS	$16.5M	Farmers&merchants BK Hil
Feb 18, 1988	Mustang Community Bank	Mustang, OK	$9.4M	First National Bank of M
Feb 12, 1988	The First State Bank	White Cloud, MI	$36.4M	Peoples STB of St Joseph
Feb 12, 1988	Global Bank	Hialeah, FL	$21.7M	Ocean Bank
Feb 12, 1988	Basin State Bank	Vernal, UT	$12.0M	Zions First National Ban
Feb 11, 1988	First Houston Bank, N.A.	Houston, TX	$33.2M	Texas Commerce Bank N.A.
Feb 11, 1988	First State Bank	Oilton, OK	$13.2M	American NB of Bristow
Feb 5, 1988	Bank of Dallas	Dallas, TX	$207.8M	Deposit Guaranty Bank
Feb 3, 1988	The Bank of Louisburg	Louisburg, KS	$20.7M	Peoples NB&T Ottawa
Jan 29, 1988	The Trust Bank	Hialeah, FL	$164.5M	Republic NB of Miami
Jan 29, 1988	Territory S&LA	Seminole, OK	$31.2M	—
Jan 28, 1988	Port City Bank	Houston, TX	$60.7M	Channelview Bank
Jan 28, 1988	Houston Commerce Bank	Houston, TX	$41.0M	—
Jan 22, 1988	Bank of Casper	Casper, WY	$6.1M	First Wyoming Bank Caspe
Jan 21, 1988	United Mercantile Bank	Shreveport, LA	$86.3M	Hibernia National Bank
Jan 21, 1988	Northwest Bank	Dallas, TX	$58.4M	American Bank of Haltom
Jan 21, 1988	Sam Houston Nat'L Bank of Walker	Huntsville, TX	$37.6M	Huntsville National Bank
Jan 21, 1988	Louisiana Commercial Bank	Madisonville, LA	$26.8M	Pontchartrain State Bank
Jan 21, 1988	Williston Basin State Bank	Williston, ND	$14.0M	First NB&T Co of Willist
Jan 21, 1988	Cedar Vale State Bank	Cedar Vale, KS	$11.7M	Chisholm Trail State Ban
Jan 20, 1988	Aredale State Bank	Aredale, IA	$9.6M	First Security Bank&trus
Jan 15, 1988	First Savings of East Texas	San Augustine, TX	$61.7M	—
Jan 14, 1988	Colonial Bank	New Orleans, LA	$50.2M	Pontchartrain State Bank
Jan 14, 1988	Balboa National Bank	National City, CA	$29.3M	—
Jan 14, 1988	The Moran National Bank	Moran, TX	$17.2M	Peoples State Bank
Jan 8, 1988	The North American Bank	Phoenix, AZ	$32.3M	Columbia Bank
Jan 7, 1988	Commerce Bank of Plano	Plano, TX	$35.3M	Quinlan State Bank

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 16, 1988	Bur-Ken Federal Credit Union	PA	Allegheny Valley Federal Credit Union
Nov 16, 1988	Bishop College Cu	TX	Good Street Baptist Church Federal Credit Union
Nov 16, 1988	Alliance Bank, N.A.	OK	First National Bank
Nov 15, 1988	Savers Holdings, Incorporated	MD	The Bank of Baltimore
Nov 15, 1988	Ila Corpus Federal Credit Union	TX	Homeport Federal Credit Union
Nov 15, 1988	State Bank of Darfur	MN	Westbrook-Darfur State Bank
Nov 14, 1988	Boatmen's Raytown Bank	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Conroe	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's Bank of Excelsior Springs	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Port Arthur	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Angleton, National Association	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's Bank of Lee's Summit	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Rockport	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Northwest San Antonio, National Association	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Fort Bend	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Beaumont, National Association	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of North San Antonio	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of South Austin	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's Bank of Belton	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	North East Federal Savings & Loan Association	PA	Prime Bank
Nov 14, 1988	First Interstate Bank of North Austin	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	First Interstate Bank of Marble Falls	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Boatmen's North Hills Bank	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	Wyoming National Bank Casper East	WY	Wells Fargo Bank Wyoming, National Association
Nov 14, 1988	Richland Banking Co.	GA	Farmers State Bank
Nov 14, 1988	Boatmen's Bank of Independence	MO	Nationsbank, National Association (Mid-West)
Nov 14, 1988	First Interstate Bank of Austin	TX	Wells Fargo Bank Texas, National Association
Nov 14, 1988	Wyoming National Bank Casper West	WY	Wells Fargo Bank Wyoming, National Association
Nov 12, 1988	Utah State Credit Union	UT	Mountain America Federal Credit Union
Nov 10, 1988	Security Pacific Asian Banking Corporation, N.A.	CA	Security Pacific Asian Bank, N.A.
Nov 10, 1988	Life Plan Credit Union	IA	Financial Plus Credit Union
Nov 9, 1988	Offshore Fcu	LA	Onpath Federal Credit Union
Nov 7, 1988	M R Employees Federal Credit Union	IL	Federal Mogul Employees Federal Credit Union
Nov 5, 1988	Consumers Savings Bank	MA	Bank of New England-Worcester
Nov 5, 1988	Lincoln Federal Savings and Loan Association	NJ	Granite Bank, Federal Savings Bank
Nov 3, 1988	Reliance Savings and Loan Association	NJ	CrossLand Savings, FSB
Nov 2, 1988	LBC&W Employees Federal Credit Union	SC	Carolina Foothills Federal Credit Union
Nov 1, 1988	Security Capitol Building Corp	WI	Valley Bank
Nov 1, 1988	Union Bancorp	CA	MUFG Union Bank, National Association
Nov 1, 1988	C F S Continental Employees Federal Credit Union	IL	Alero Financial Credit Union
Nov 1, 1988	(unnamed)	—	MUFG Union Bank, National Association
Nov 1, 1988	Security Pacific Industrial Bank	CO	Security Pacific Finance System Incorporated
Nov 1, 1988	Airetool & Yost Superior Employees Credit Union, Inc.	OH	Wright-Patt Credit Union, Inc.
Nov 1, 1988	Saint Vincent De Paul Parish Credit Union, Inc.	OH	Directions Credit Union
Nov 1, 1988	A B E Credit Union	IL	American Broadcast Employees Federal Credit Union
Nov 1, 1988	The First National Bank of Grafton	WV	(unnamed)
Nov 1, 1988	(unnamed)	—	The Co-operative Bank of Concord
Nov 1, 1988	Standard Chartered Holdings, Inc.	CA	MUFG Union Bank, National Association
Nov 1, 1988	GCC Employees Credit Union	SC	South Carolina Federal Credit Union
Nov 1, 1988	First of America Bank-Belvidere	IL	First of America Bank-Rockford, National Association

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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