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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
Sep 1, 1988 Speedkraft Credit Union CO Fidelis Catholic Credit Union
Sep 1, 1988 Commerce Bank of Moberly, National Association MO Commerce Bank, National Association
Sep 1, 1988 First National Bank & Trust Company of Fremont NE First Bank National Association
Sep 1, 1988 U F C W Local 37 Federal Credit Union IN Policemen's Federal Credit Union
Sep 1, 1988 Brenton State Bank IA Brenton Bank and Trust Company
Sep 1, 1988 Dairy & Food Services Federal Credit Union CT Finex Credit Union
Aug 31, 1988 Lincoln University Federal Credit Union MO Missouri Credit Union
Aug 31, 1988 Corporate Bankshares, Inc. KS IV Corporate Woods Acquisition, Inc.
Aug 31, 1988 C & P Bank Corporation of Pensacola FL Bank South Pensacola, Inc.
Aug 31, 1988 Citicorp Savings Company NE Citicorp Savings and Industrial Bank
Aug 31, 1988 Citicorp Savings Company MN Citicorp Savings and Industrial Bank
Aug 30, 1988 Monroe Bancshares, Inc. TN First Virginia Banks, Inc.
Aug 27, 1988 Northwest Federal Savings and Loan Association ID WaFd Bank
Aug 27, 1988 Peoples Savings & Loan Association Federal Association MN Metropolitan Federal Bank of Iowa
Aug 27, 1988 First Federal Savings & Loan Association of Hibbing MN Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988 First Federal Savings & Loan Association of Grand Rapids MN Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988 Washington Federal Savings Bank MN Metropolitan Federal Bank of Iowa
Aug 27, 1988 Commerce FSB TN Security Trust Federal Savings and Loan Association
Aug 26, 1988 Barber Employees Federal Credit Union SD Dakota Star Federal Credit Union
Aug 25, 1988 Nadisco Credit Union, Inc. OH Trupartner Credit Union, Inc.
Aug 24, 1988 Bassick Employees Federal Credit Union CT McKesson Federal Credit Union
Aug 23, 1988 Northumberland County Credit Union PA Pinpoint Federal Credit Union
Aug 22, 1988 Bank One, Ashland OH Bank One, Mansfield
Aug 20, 1988 First Bank Bloomington MN U.S. Bank National Association
Aug 20, 1988 Gulf National Bank MS The Peoples Bank, Biloxi, Mississippi
Aug 19, 1988 First Pacific Corporation CA (unnamed)
Aug 19, 1988 Hibernia Bancshares Corporation CA (unnamed)
Aug 19, 1988 Taunton Savings Bank MA New Bedford Institution for Savings
Aug 19, 1988 First Bank and Trust AL First Bank and Trust
Aug 18, 1988 Pittsburgh Tube Employees Federal Credit Union PA Freedom United Federal Credit Union
Aug 17, 1988 First State Financial Corporation of Rockford IL Nwib Acquisition Corporation
Aug 17, 1988 Crown Crafts Employees Credit Union GA LGE Community Credit Union
Aug 15, 1988 Sovran Bank/Williamson County TN NationsBank of Tennessee, National Association
Aug 13, 1988 Union National Bank TN First Union National Bank of Tennessee
Aug 13, 1988 First Wisconsin Bank of Eldorado WI Firstar Bank Fond Du Lac, National Association
Aug 13, 1988 Security Trust CT First Union Bank of Connecticut
Aug 13, 1988 M&I Bank of Middleton WI M&I Bank of Southern Wisconsin
Aug 12, 1988 Capitol Federal Savings of America IL Standard Federal Bank for Savings
Aug 10, 1988 First Federal Savings and Loan Association of Taylorville IL United Savings of America
Aug 9, 1988 American Motors Employees Federal Credit Union MI Cornerstone Community Financial Credit Union
Aug 8, 1988 Holy Name Credit Union NE Greater Omaha Federal Credit Union
Aug 8, 1988 Raywood Federal Credit Union TX Liberty County Teachers Federal Credit Union
Aug 6, 1988 Camden County Bank MO Central Bank of Lake of the Ozarks
Aug 4, 1988 Freedom Federal Savings Bank IL Household Bank, F.S.B.
Aug 2, 1988 State Record Employees Credit Union SC Palmetto Citizens Federal Credit Union
Aug 1, 1988 Skinner Employees Credit Union NE Centris Federal Credit Union
Aug 1, 1988 Arco Bakersfield Federal Credit Union CA Valley Strong Credit Union
Aug 1, 1988 Boc Bancorp, Inc. TN Lawrence Bancshares, Inc.
Aug 1, 1988 FirstBank of Port Isabel, National Association TX FirstBank
Aug 1, 1988 National Safety Council Staff Credit Union IL Alero Financial 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

Browse adjacent years: 1987 · 1989

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