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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
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