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 28, 1988	Family Financial Savings Association	WI	Bank Mutual
Dec 27, 1988	(unnamed)	—	American National Bank of Melrose Park
Dec 27, 1988	The Citizens Building and Loan Company	OH	Unity Savings Bank
Dec 27, 1988	Pacific Bancorporation Data Systems, Inc.	CA	Pacific Bancorporation
Dec 23, 1988	Glen Ellyn Savings and Loan Association, a Federal Savings and Loan Association	IL	Citibank, Federal Savings Bank
Dec 23, 1988	Old National Credit Corporation	WA	U.S. Bancorp
Dec 20, 1988	Ufcw Local 7 Credit Union	CO	Electrical Federal Credit Union
Dec 19, 1988	Sierra Security Bank	CA	Plumas Bank
Dec 19, 1988	First National Bank of Crosby	TX	Compass Bank
Dec 19, 1988	Compass Bank N.A.	TX	Compass Bank
Dec 17, 1988	Tri-City Bancorp, Inc.	TN	First Virginia Banks, Inc.
Dec 17, 1988	Fairlawn Plaza Investments, Inc.	KS	IV Topeka Acquisition, Inc.
Dec 17, 1988	Fairlawn Plazabank	KS	Bank IV Topeka, National Association
Dec 16, 1988	Community First Federal Savings	WA	Pacific First Bank, a Federal Savings Bank
Dec 16, 1988	Somerset Bancorp, Inc.	NJ	The Summit Bancorporation
Dec 16, 1988	Lamorinda Financial Corporation	CA	Mission Valley Bancorp
Dec 15, 1988	Tri-County State Bank	IA	Security State Bank
Dec 15, 1988	Great Northern Savings	IL	Lasalle Bank, F.S.B.
Dec 15, 1988	Applewood U.S. Industrial Bank	CO	American Industrial Bank of Lakewood
Dec 15, 1988	First City National Bank of Richmond	TX	First City, Texas - Houston, N.A.
Dec 15, 1988	Landrum Mills Federal Credit Union	SC	Southern Select Community Cu
Dec 13, 1988	Purple Shield Fcu	LA	Southern Teachers & Parents Federal Credit Union
Dec 12, 1988	Cal Co Maryland Federal Credit Union	MD	Educational Systems Federal Credit Union
Dec 12, 1988	First Interstate Bank of Bedford	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Plano, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Fort Worth	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Dallas, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Mesquite, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Marshall	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Cedar Hill, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Dallas	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Keller, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of North Richland Hills, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Longview	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Arlington	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank Brookhollow	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank North Central, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Oak Cliff	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Irving	TX	Wells Fargo Bank Texas, National Association
Dec 12, 1988	First Interstate Bank of Waxahachie, National Association	TX	Wells Fargo Bank Texas, National Association
Dec 10, 1988	Community State Bank	WA	Bellingham Bank
Dec 10, 1988	The Peoples National Bank of Shelbyville	TN	First Union National Bank of Tennessee
Dec 9, 1988	Grand Bank Northeast	TX	Comerica Bank - Texas
Dec 9, 1988	McDonald County Mercantile Bank	MO	Mercantile Bank of Monett
Dec 9, 1988	Centerre Bancorporation	MO	Boatmen's Bancshares, Inc.
Dec 9, 1988	Mutual State Bank	NE	Mid City Bank, Inc.
Dec 9, 1988	Grand Bank, National Association	TX	Comerica Bank - Texas
Dec 6, 1988	Kolob Investment Company	UT	Central Bancorporation
Dec 6, 1988	Edwardsville State Bank	KS	The Edwardsville Bank
Dec 5, 1988	First Bank	IL	First Bank

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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