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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
Dec 5, 1988 Citizens State Bank of Pleasant Hill IL First Bank
Dec 5, 1988 Bank of the West TX Wells Fargo Bank Texas, National Association
Dec 5, 1988 Roodhouse National Bank IL First Bank
Dec 5, 1988 The Mingo National Bank of Mingo Junction OH The Miners and Mechanics Savings and Trust Company
Dec 5, 1988 First Bank of Columbia, National Association IL First Bank
Dec 5, 1988 Arnold State Bank NE Pinnacle Bank
Dec 3, 1988 Farmers State Bank WI First National Bank in Viroqua
Dec 3, 1988 Viola Insurance Agency, Inc. WI Firsnabanco, Inc.
Dec 2, 1988 First Bank MA Shawmut Arlington Trust Company
Dec 2, 1988 The First National Bank of Loysville PA CCNB Bank, National Association
Dec 1, 1988 JFK Federal Credit Union MA Tremont Credit Union
Dec 1, 1988 Town & Country Shoe Federal Credit Union MO Central Missouri Community Credit Union
Dec 1, 1988 Aurora U.S. Industrial Bank CO American Industrial Bank of Aurora
Dec 1, 1988 Hartland Bancorp., Inc. WI M&I LLC
Dec 1, 1988 Aurora First National Bancorp IN Star Banc Corporation, Indiana
Dec 1, 1988 La Frey Fcu LA 705 Federal Credit Union
Dec 1, 1988 Saint Marys Lorain Parish Federal Credit Union OH Lormet Community Federal Credit Union
Dec 1, 1988 Greater Milwaukee Financial Corp. WI M&I LLC
Dec 1, 1988 Village Banc Holding Co., Inc. WI M&I LLC
Dec 1, 1988 Key Bank of Southern Maine ME KeyBank National Association
Dec 1, 1988 Key Bank of Northern Maine ME KeyBank National Association
Dec 1, 1988 Cato Employees Federal Credit Union NC Alero Financial Credit Union
Dec 1, 1988 Dallas News Empl Cu TX Resource One Credit Union
Dec 1, 1988 Key Bank of Eastern Maine ME KeyBank National Association
Dec 1, 1988 Star Bank, National Association, Aurora IN Star Bank, National Association, Southeastern Indiana
Dec 1, 1988 The First National Bank of Maiden Rock WI Pierce County Bank and Trust Company
Dec 1, 1988 Signal Empl Cu TN Scenic Community Credit Union
Dec 1, 1988 Ua Local 469 Credit Union AZ Arizona Central Credit Union
Dec 1, 1988 First National Bank in Galva IL Wells Fargo Bank Illinois, National Association
Dec 1, 1988 First State Bank of Edgerton WI M&I Bank South
Dec 1, 1988 Leveranz Shoe Credit Union WI Sheboygan Area Credit Union
Dec 1, 1988 Commerce Bank of Harrisonville, N. A. MO Commerce Bank
Dec 1, 1988 Commerce Bank of Lexington, National Association MO Commerce Bank
Dec 1, 1988 Norwest Bank Owatonna, National Association MN Norwest Bank Minnesota South, N.A.
Dec 1, 1988 Austin Steel Cu TX Resource One Credit Union
Nov 30, 1988 United Bank of Belvidere IL First of America-North Central Illinois, National Association
Nov 29, 1988 American Security Company of Bedford, Incorporated IN National Processing Company
Nov 29, 1988 Riley Company, Inc. IN Merchants National Corporation
Nov 28, 1988 Pilot Point Bancshares Corporation TX Pilot Point Bancorp, Inc.
Nov 25, 1988 Bankcenter One MO Mark Twain Bank
Nov 23, 1988 Pueblo U.S. Industrial Bank CO American Industrial Bank, Inc
Nov 23, 1988 Colorado Springs U.S. Industrial Bank CO American Industrial Bank, Inc
Nov 23, 1988 Gsa No 3 Federal Credit Union DC Justice Federal Credit Union
Nov 22, 1988 Carver County Bancshares, Inc. MN Midamerica Bancshares, Inc.
Nov 21, 1988 (unnamed) — First Midwest Bank
Nov 21, 1988 Naper Bank Bolingbrook IL Firstar Bank Illinois
Nov 21, 1988 Wyoming National Bank Cheyenne East WY Norwest Bank Wyoming Cheyenne, National Association
Nov 19, 1988 Clay County Bank TN DeKalb County Bank & Trust Company
Nov 19, 1988 Sunshine Bank of Fort Walton Beach FL Regions Bank of Florida
Nov 17, 1988 Mutual Service Credit Union NC Truliant 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