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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
Dec 16, 1988 First Industrial Bank of Rocky Ford Rocky Ford, CO $12.5M First NB of Ordway
Dec 16, 1988 First Southwest Bank Eldorado, OK $9.8M First State Bank&trust C
Dec 15, 1988 Texas National Bank Dallas, TX $37.7M Cornerstone Bank N.A.
Dec 15, 1988 First National Bank in Center Center, TX $26.1M Citizens Bank
Dec 15, 1988 Crescent City Bank & Trust Company New Orleans, LA $24.0M Omni Bank
Dec 15, 1988 Texas Bank of Plano Plano, TX $15.1M Plano East National Bank
Dec 15, 1988 First National Bank in Bogata Bogata, TX $13.2M Peoples National Bank
Dec 9, 1988 Silverado S&LA Denver, CO $2.32B Columbia Savings, a FS&LA
Dec 9, 1988 Caribank Dania, FL $525.8M Citibank Florida N.A.
Dec 9, 1988 Central Arkansas S&LA Conway, AR $10.1M —
Dec 8, 1988 First Bank & Trust Co. Duncan, OK $42.0M First Bank&trust Co
Dec 8, 1988 Resource Bank, N.A. Houston, TX $34.7M —
Dec 8, 1988 Waukomis State Bank Waukomis, OK $12.0M Cimarron Bank
Dec 1, 1988 Union Bank of Houston Houston, TX $55.4M Texas Commerce Bank N.A.
Dec 1, 1988 Texana National Bank of Belton Belton, TX $19.5M First NB of Temple
Dec 1, 1988 Oak Lawn Bank, N.A. Dallas, TX $10.3M Cornerstone Bank N.A.
Dec 1, 1988 Enterprise National Bank Englewood, CO $5.3M Colonial National Bank
Nov 18, 1988 First National Bank Covington, LA $262.2M Hibernia National Bank
Nov 17, 1988 The Bank of Kerrville Kerrville, TX $39.8M Bank of Kerrville
Nov 17, 1988 East Texas State Bank Buna, TX $21.3M First NB of Bonham
Nov 10, 1988 Cyprus Sa Plantation, FL $172.8M —
Nov 10, 1988 Avoyelles Trust & Savings Bank Bunkie, LA $27.1M Bunkie Bank&trust Co
Nov 10, 1988 American National Bank Tyler, TX $22.4M First NB of Winnsboro
Nov 10, 1988 Bank of the Northwest Woodward, OK $19.5M Bank of Woodward
Nov 10, 1988 Miami National Bank Miami, OK $9.2M Bank of Miami
Nov 10, 1988 The First National Bank of Gracemont Gracemont, OK $6.6M First State Bank
Nov 4, 1988 MT. Zion State Bank Mount Zion, IL $26.4M Mount Zion State B&T Co
Nov 3, 1988 Southwest National Bank Houston, TX $14.0M Spring National Bank
Oct 27, 1988 Frontier National Bank Round Rock, TX $39.5M First State Bank
Oct 27, 1988 Round Rock National Bank Round Rock, TX $37.0M First State Bank
Oct 27, 1988 Medical Center State Bank Oklahoma City, OK $8.7M American State Bank
Oct 20, 1988 Commercial Bank & Trust Company Metairie, LA $58.8M Pontchartrain State Bank
Oct 20, 1988 Security Bank Dallas, TX $21.8M Deposit Guaranty Bank
Oct 7, 1988 Liberty FSB Raton, NM $130.4M —
Oct 6, 1988 Financial Security S&LA Delray Beach, FL $150.1M —
Oct 6, 1988 Fidelity National Bank of Fort Worth Fort Worth, TX $33.8M Fidelity Bank
Oct 3, 1988 Liberty Bank & Trust Company Warsaw, IN $48.7M Trustcorp Bank Goshen
Sep 30, 1988 Watson State Bank Watson, MN $13.7M Minnwest Bank Montevideo
Sep 29, 1988 First State Bank Seminole, OK $12.2M First State Bank
Sep 26, 1988 Continental S&LA Bellaire, TX $363.7M —
Sep 23, 1988 Peoples S&LA La Grande, OR $22.5M —
Sep 23, 1988 Peoples State Bank of Meeker Meeker, CO $3.9M First NB of Meeker
Sep 22, 1988 The First State Bank in Talihina Talihina, OK $15.8M Spiro State Bank
Sep 22, 1988 Community Bank & Trust Rockdale, TX $14.9M Citizens NB of Cameron
Sep 22, 1988 The Security State Bank Comanche, OK $9.0M American National Bank
Sep 21, 1988 Mountainwest S&LA Ogden, UT $284.5M —
Sep 16, 1988 Ultimate Savings Bank Richmond, VA $206.5M —
Sep 15, 1988 Trinity National Bank San Antonio, TX $33.1M First NB of Rio Grande C
Sep 15, 1988 Town & Country Bank Bixby, OK $30.8M Brookside State Bank
Sep 15, 1988 Capital National Bank Fort Worth, TX $24.4M Central Bank&trust

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
Aug 1, 1988 (unnamed) — United Trust Bank
Aug 1, 1988 Coastal Banc Federal Savings and Loan Association TX Coastal Banc, S.S.B.
Aug 1, 1988 Delray Beach City Employees Credit Union FL Guardians Credit Union
Aug 1, 1988 Peoples Bank TN First American Bank, Clarksville
Aug 1, 1988 Co-Lith-Co Credit Union KY Louisville Metro Police Officers Credit Union
Aug 1, 1988 Neenah Paper Credit Union WI Linden Credit Union
Aug 1, 1988 Nicholls State Bank GA Southeastern Bank
Aug 1, 1988 Knights of Pythias-Detroit Lodge 55 Credit Union MI Vibe Credit Union
Aug 1, 1988 Bank of Contra Costa CA First Interstate Bank of California
Aug 1, 1988 First State Bank of Wyanet IL AMCORE Bank, Princeton
Aug 1, 1988 N.A. of the Deaf Credit Union MD Central Credit Union of Maryland
Aug 1, 1988 Southern California Floral Association Federal Credit Union CA Am Federal Credit Union
Aug 1, 1988 Building Trades Credit Union MI Elga Credit Union
Aug 1, 1988 FirstBank TX FirstBank
Aug 1, 1988 Bank of Oklahoma Grove OK BOKF, N.A.
Aug 1, 1988 Eas Employees Credit Union MO Alliance Credit Union
Aug 1, 1988 First Southern Bank TN First American National Bank
Aug 1, 1988 Memphis Refinery Employees Federal Credit Union TN Southern Security Federal Credit Union
Aug 1, 1988 Beverly Savings Bank MA Warren Five Cents Savings Bank
Aug 1, 1988 Sherry Lane National Bank TX Metropolitan National Bank
Aug 1, 1988 Commercial National Bank OH The Fifth Third Bank of Northwestern Ohio, National Association
Aug 1, 1988 Saint Anthony Parish Credit Union, Inc. OH Lormet Community Federal Credit Union
Jul 31, 1988 Columbian Financial Corporation KS Columbian Financial Corporation
Jul 31, 1988 Topeka Bank Shares, Inc. KS Columbian Financial Corporation
Jul 31, 1988 CRG Employees Federal Credit Union NJ Aspire Federal Credit Union
Jul 30, 1988 Newco 1 MN PB Bancorp of Cedar Rapids, Inc.
Jul 30, 1988 Nevada County National Bank CA The Bank of Commerce, National Association
Jul 30, 1988 Merit Savings Bank CA Charter Savings Bank, FSB
Jul 30, 1988 Mutual Savings and Loan Association IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 The Mitsubishi Bank of California CA The Bank of California, National Association
Jul 30, 1988 Franklin County Ga Fcu GA Stephens-Franklin Teachers Federal Credit Union
Jul 30, 1988 Valley Bank Middleton WI Valley Bank
Jul 30, 1988 Norwest Bank Grand Rapids, National Association MN Norwest Bank Minnesota North, National Association
Jul 30, 1988 Valley Bank Monona Grove WI Valley Bank
Jul 30, 1988 Republic Savings, A Federal Savings and Loan Association IL River Valley Savings Bank
Jul 30, 1988 Norwest Bank Albert Lea, National Association MN Norwest Bank Minnesota South Central, National Association
Jul 30, 1988 Norwest Bank Austin, National Association MN Norwest Bank Minnesota South Central, National Association
Jul 30, 1988 Saint Margarets Montgomery Fcu AL Montgomery Va Federal Credit Union
Jul 30, 1988 United Jersey Bank/Franklin State NJ United Jersey Bank/Central, National Association
Jul 30, 1988 Colonial Bank of Granite City IL Magna Bank of Madison County
Jul 30, 1988 Potomac Bancorp, Inc. IL City Financial Bancorp, Inc.
Jul 30, 1988 Galva Federal Savings and Loan Association IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 Norwest Bank Dodge Center MN Norwest Bank Minnesota South, National Association
Jul 30, 1988 Valley Bank Brooklyn WI Valley Bank
Jul 30, 1988 Norwest Bank Litchfield, National Association MN Norwest Bank Minnesota Central, National Association
Jul 30, 1988 Norwest Bank Two Harbors, National Association MN Norwest Bank Minnesota North, National Association
Jul 30, 1988 Home Federal Savings and Loan Association of Peoria IL River Valley Savings Bank, Federal Savings Bank
Jul 30, 1988 The First National Bank of Mondovi WI Alliance Bank
Jul 30, 1988 Norwest Bank Sauk Rapids, National Association MN Norwest Bank Minnesota Central, National Association
Jul 30, 1988 Norwest Bank Winona, National Association MN Norwest Bank Minnesota South, 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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Or jump to a category: Failures · Mergers · Enforcement · Assistance