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
Jul 29, 1988	First Republicbank-Lufkin	Lufkin, TX	$224.9M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Abilene, N.A.	Abilene, TX	$218.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-El Paso, N.A.	El Paso, TX	$217.7M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Harlingen, N.A.	Harlingen, TX	$213.6M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Conroe, N.A.	Conroe, TX	$207.7M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Corsicana, N.A.	Corsicana, TX	$200.6M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Plano, N.A.	Plano, TX	$199.7M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Victoria	Victoria, TX	$175.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Odessa, N.A.	Odessa, TX	$175.0M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Mineral Wells	Mineral Wells, TX	$174.4M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Temple, N.A.	Temple, TX	$163.6M	NCNB Texas National Bank
Jul 29, 1988	First REPUBLICBANK-MT. Pleasant	Mt. Pleasant, TX	$148.1M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Denison, N.A.	Denison, TX	$143.5M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Henderson, N.A.	Henderson, TX	$128.9M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Brownwood, N.A.	Brownwood, TX	$126.7M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Stephenville	Stephenville, TX	$124.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Cleburne, N.A	Cleburne, TX	$118.4M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-A&m	College Station, TX	$101.0M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Richmond, N.A	Richmond, TX	$99.9M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Ennis, N.A.	Ennis, TX	$96.1M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Greenville, N.A.	Greenville, TX	$85.9M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Clifton	Clifton, TX	$82.3M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Paris	Paris, TX	$79.3M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Hillsboro, N.A.	Hillsboro, TX	$68.1M	NCNB Texas National Bank
Jul 29, 1988	American of Anadarko	Anadarko, OK	$65.1M	—
Jul 29, 1988	Westlake Thrift & Loan Association	Westlake Village, CA	$55.2M	Independence Bank
Jul 29, 1988	First Republicbank-Forney	Forney, TX	$54.6M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Malakoff, N.A	Malakoff, TX	$49.6M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Williamson CN	Austin, TX	$44.0M	NCNB Texas National Bank
Jul 28, 1988	First Capitol Bank	West Columbia, TX	$50.0M	First Bank
Jul 28, 1988	National Fidelity Bank of Shreveport	Shreveport, LA	$10.5M	Hibernia National Bank
Jul 21, 1988	Platte Valley FS&LA	Gering, NE	$407.6M	—
Jul 21, 1988	Union Bank & Trust	Bartlesville, OK	$115.4M	First NB in Bartlesville
Jul 21, 1988	The First National Bank of Blooming Prairi	Blooming Prairie, MN	$20.0M	First Amn BK Blooming PR
Jul 14, 1988	Allen National Bank	Allen, TX	$26.3M	Benchmark Bank
Jul 14, 1988	The American Bank	Palestine, TX	$20.8M	Royall NB of Palestine
Jul 14, 1988	The Security Bank	Warner, OK	$9.4M	Vian State Bank
Jun 30, 1988	Mercantile Bank & Trust	San Antonio, TX	$76.2M	Groos Bank National Assn
Jun 30, 1988	First National Bank	Sherman, TX	$24.5M	First NB of Van Alstyne
Jun 30, 1988	Republic National Bank	Norman, OK	$24.3M	Republic Bank of Norman
Jun 29, 1988	Claiborne Bank & Trust Company	Homer, LA	$13.1M	Homer National Bank
Jun 23, 1988	Northwest Bank & Trust	Houston, TX	$97.6M	Northwest Bank
Jun 23, 1988	Texas National Bank	Victoria, TX	$14.4M	Texas NB of Victoria
Jun 23, 1988	Tri-Cities Bank & Trust	Glenn Heights, TX	$9.2M	Abrams Centre National B
Jun 22, 1988	The Bank of Westminster	Westminster, CO	$6.5M	First NB Westminster
Jun 17, 1988	The Liberty Bank of Seattle	Seattle, WA	$19.1M	Emerald City Bank
Jun 16, 1988	Century National Bank	Austin, TX	$54.0M	Community National Bank
Jun 16, 1988	Kingsland National Bank	Kingsland, TX	$14.1M	Security State Bank&trus
Jun 9, 1988	Parkway Bank & Trust	Dallas, TX	$42.3M	Deposit Guaranty Bank
Jun 3, 1988	Larue FS&LA	Hodgenville, KY	$12.0M	—

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
Dec 31, 1988	Broward FS&LA	Sunrise, FL	$535.7M
Dec 31, 1988	Peoria S&LA	Peoria, IL	$171.6M
Dec 30, 1988	United Savings Association of Texas	Houston, TX	$4.64B
Dec 30, 1988	Columbia FS&LA	Englewood, CO	$3.13B
Dec 30, 1988	First FS&LA of Jacksonville	Jacksonville, FL	$1.24B
Dec 30, 1988	Pathway Financial	Chicago, IL	$1.22B
Dec 30, 1988	Beach FS&LA	Boynton Beach, FL	$1.14B
Dec 30, 1988	Jackson County FSA	Medford, OR	$266.1M
Dec 30, 1988	Tracy-Collins Bank & Trust Company	Salt Lake City, UT	$213.3M
Dec 30, 1988	Northwest FS&LA	Spencer, IA	$129.1M
Dec 30, 1988	Great Falls FS&LA	Great Falls, MT	$128.0M
Dec 30, 1988	Home FS&LA	Spencer, IA	$46.5M
Dec 29, 1988	American SB	Springfield, IL	$887.0M
Dec 29, 1988	Charter Savings S&LA	Corpus Christi, TX	$396.8M
Dec 29, 1988	Peoples S&LA	Llano, TX	$171.1M
Dec 29, 1988	Seguin Savings Association	Seguin, TX	$140.5M
Dec 29, 1988	Lee Savings Association	Giddings, TX	$73.9M
Dec 29, 1988	Union Sa	San Antonio, TX	$72.1M
Dec 29, 1988	Bayview FSA	Corpus Christi, TX	$64.6M
Dec 29, 1988	Independence S&LA	Gonzales, TX	$59.1M
Dec 29, 1988	Ranchers Savings Association	Johnson City, TX	$56.2M
Dec 29, 1988	Yoakum FS&LA	Yoakum, TX	$43.6M
Dec 29, 1988	Keystone S&LA	Lampasas, TX	$30.7M
Dec 29, 1988	First FS&LA	Luling, TX	$30.6M
Dec 29, 1988	Burnet S&LA	Burnet, TX	$28.1M
Dec 28, 1988	First Financial SB	Des Moines, IA	$262.7M
Dec 27, 1988	Gibraltar Sa	Houston, TX	$6.46B
Dec 27, 1988	First Texas Savings Association	Dallas, TX	$3.13B
Dec 27, 1988	Montfort Savings Association	Dallas, TX	$1.82B
Dec 27, 1988	Killeen S&LA	Killeen, TX	$163.4M
Dec 23, 1988	Virginia FS&LA	Richmond, VA	$678.9M
Dec 22, 1988	Commodore Savings Association	Dallas, TX	$499.4M
Dec 22, 1988	Home Sa	Houston, TX	$495.5M
Dec 22, 1988	Home S&LA	Lufkin, TX	$278.5M
Dec 22, 1988	Vista Savings Association	Odessa, TX	$133.1M
Dec 22, 1988	First FS&LA	Big Spring, TX	$129.3M
Dec 22, 1988	Interwest Savings Association	Fort Worth, TX	$109.4M
Dec 22, 1988	Southern Federal Banc S&LA	Lancaster, TX	$91.3M
Dec 22, 1988	Lamesa FS&LA	Lamesa, TX	$89.3M
Dec 22, 1988	Sentry Savings Association	Slaton, TX	$87.0M
Dec 22, 1988	First Western S&LA	Colorado City, TX	$83.4M
Dec 22, 1988	Metroplex Federal Savings Association	Hurst, TX	$64.8M
Dec 22, 1988	Mesquite S&LA	Mesquite, TX	$47.0M
Dec 22, 1988	Reliance Savings Association	Houston, TX	$41.5M
Dec 22, 1988	Mineral Wells S&LA	Mineral Wells, TX	$31.5M
Dec 21, 1988	Baton Rouge Bank & Trust Company	Baton Rouge, LA	$111.5M
Dec 17, 1988	Ohio Valley	Steubenville, OH	$203.9M
Dec 17, 1988	First Border SB	Piqua, OH	$111.0M
Dec 16, 1988	Bloomfield S&LA	Birmingham, MI	$688.7M
Dec 16, 1988	Rocky Mountain FS&LA	Cheynne, WY	$307.2M

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