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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
Oct 1, 1988 U. S. Steel Vandergrift Federal Credit Union PA Kennametal Employees Federal Credit Union
Oct 1, 1988 First National Bank-South TX First National Bank of Huntsville
Oct 1, 1988 MKT San Antonio Credit Union TX Generations Community Federal Credit Union
Oct 1, 1988 Jasco Empl Cu TX Resource One Credit Union
Oct 1, 1988 First Wyoming Bank - Wright WY Key Bank of Wyoming - Seventh and Douglas Highway, Gillette, Wyoming 827
Oct 1, 1988 Rcac Federal Credit Union CA Patelco Credit Union
Oct 1, 1988 Star Bank, Gallipolis OH Star Bank, National Association, Tri State
Oct 1, 1988 Crocker Employees Federal Credit Union CA Monterra Credit Union
Oct 1, 1988 U.S. Postal Service Federal Credit Union CA U S Postal Service Federal Credit Union
Oct 1, 1988 State Bank and Trust Company GA FLAG Bank
Oct 1, 1988 Metropolitan Medical Center Credit Union MN Associated Healthcare Credit Union
Oct 1, 1988 Peoria Graphic Arts Credit Union IL Citizens Equity First Credit Union
Oct 1, 1988 (unnamed) — Premier Bank - Acadiana, National Association
Oct 1, 1988 Calhoun-Gordon County Educational Credit Union GA LGE Community Credit Union
Oct 1, 1988 First Bank of Troy ID KeyBank National Association
Oct 1, 1988 Durr-Fillauer Cu AL Americas First Federal Credit Union
Oct 1, 1988 Bergner Associates Credit Union IL Citizens Equity First Credit Union
Oct 1, 1988 Key Bank of Long Island NY Key Bank of Southeastern New York National Association
Oct 1, 1988 Citizens Federal Savings and Loan Association of Newcastle IN Ameriana Bank
Oct 1, 1988 Dassel State Bank MN Marquette Bank Hutchinson, National Association
Oct 1, 1988 Saint Patrick Parish Credit Union IL Redbrand Credit Union
Oct 1, 1988 First Wyoming Bank - Meeteetse WY Key Bank of Wyoming - 1130 Sheridan Avenue, Cody, Wyoming 82414
Oct 1, 1988 Sun Company Employees Credit Union CA 1st Valley Credit Union
Oct 1, 1988 United Savings and Loan Association of Central Indiana IN First American Bank
Oct 1, 1988 (unnamed) — Bank One, Louisiana, National Association
Oct 1, 1988 Uscs Employees Federal Credit Union NJ Philadelphia Federal Credit Union
Oct 1, 1988 The State National Bank of New Iberia LA Premier Bank - Acadiana, National Association
Oct 1, 1988 USTrust/Essex MA USTrust
Oct 1, 1988 Mispoco Empl Cu MS Powerco Federal Credit Union
Oct 1, 1988 FRY's Employees Federal Credit Union AZ Sunwest Federal Credit Union
Oct 1, 1988 Health Care Credit Union WA Rainier Pacific Savings Bank
Oct 1, 1988 Murfreesboro Veterans Administration Federal Credit Union TN Ascend Federal Credit Union
Oct 1, 1988 Michigan Bank - Mid South MI Republic Bank
Oct 1, 1988 I.B. Mortgage Network, Inc. CA Imperial Bank
Oct 1, 1988 Gae Members Cu GA Pinnacle Credit Union
Oct 1, 1988 IB&T Corporation ID Key Bancshares of Idaho, Inc.
Oct 1, 1988 Professional Financial Services Credit Union IA Financial Plus Credit Union
Oct 1, 1988 Amalgamated Associates Company IL Amalgamated Investments Company
Oct 1, 1988 First Bancorp of Mascoutah, Ltd. IL First Bancorp of Mascoutah, Ltd.
Oct 1, 1988 Modoc County Grangers Credit Union CA Sierra Central Credit Union
Oct 1, 1988 Saint Louis De France Federal Credit Union MA St. Anne's Credit Union
Oct 1, 1988 (unnamed) — Norwest Bank Cedar Rapids, National Association
Oct 1, 1988 First Federal Savings Bank SC South Carolina Federal Savings Bank
Oct 1, 1988 Phillips 66 Employees Credit Union MO Arsenal Credit Union
Oct 1, 1988 Torrey Pines Federal Credit Union CA San Diego County Credit Union
Oct 1, 1988 Bedford County Bank TN First American Bank, Murfreesboro
Oct 1, 1988 Heritage Federal Savings Bank IN Railroadmen's Federal Savings and Loan Association of Indianapolis
Oct 1, 1988 Moores Employees Federal Credit Union VA Tremont Credit Union
Oct 1, 1988 Metro District #1 Federal Credit Union CO Canvas Credit Union
Sep 30, 1988 First City Bank of Northline TX First City, Texas - Houston, N.A.

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

Browse adjacent years: 1987 · 1989

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