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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
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

Or jump to a category: Failures · Mergers · Enforcement · Assistance