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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
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 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