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 5, 1988	Citizens State Bank of Pleasant Hill	IL	First Bank
Dec 5, 1988	Bank of the West	TX	Wells Fargo Bank Texas, National Association
Dec 5, 1988	Roodhouse National Bank	IL	First Bank
Dec 5, 1988	The Mingo National Bank of Mingo Junction	OH	The Miners and Mechanics Savings and Trust Company
Dec 5, 1988	First Bank of Columbia, National Association	IL	First Bank
Dec 5, 1988	Arnold State Bank	NE	Pinnacle Bank
Dec 3, 1988	Farmers State Bank	WI	First National Bank in Viroqua
Dec 3, 1988	Viola Insurance Agency, Inc.	WI	Firsnabanco, Inc.
Dec 2, 1988	First Bank	MA	Shawmut Arlington Trust Company
Dec 2, 1988	The First National Bank of Loysville	PA	CCNB Bank, National Association
Dec 1, 1988	JFK Federal Credit Union	MA	Tremont Credit Union
Dec 1, 1988	Town & Country Shoe Federal Credit Union	MO	Central Missouri Community Credit Union
Dec 1, 1988	Aurora U.S. Industrial Bank	CO	American Industrial Bank of Aurora
Dec 1, 1988	Hartland Bancorp., Inc.	WI	M&I LLC
Dec 1, 1988	Aurora First National Bancorp	IN	Star Banc Corporation, Indiana
Dec 1, 1988	La Frey Fcu	LA	705 Federal Credit Union
Dec 1, 1988	Saint Marys Lorain Parish Federal Credit Union	OH	Lormet Community Federal Credit Union
Dec 1, 1988	Greater Milwaukee Financial Corp.	WI	M&I LLC
Dec 1, 1988	Village Banc Holding Co., Inc.	WI	M&I LLC
Dec 1, 1988	Key Bank of Southern Maine	ME	KeyBank National Association
Dec 1, 1988	Key Bank of Northern Maine	ME	KeyBank National Association
Dec 1, 1988	Cato Employees Federal Credit Union	NC	Alero Financial Credit Union
Dec 1, 1988	Dallas News Empl Cu	TX	Resource One Credit Union
Dec 1, 1988	Key Bank of Eastern Maine	ME	KeyBank National Association
Dec 1, 1988	Star Bank, National Association, Aurora	IN	Star Bank, National Association, Southeastern Indiana
Dec 1, 1988	The First National Bank of Maiden Rock	WI	Pierce County Bank and Trust Company
Dec 1, 1988	Signal Empl Cu	TN	Scenic Community Credit Union
Dec 1, 1988	Ua Local 469 Credit Union	AZ	Arizona Central Credit Union
Dec 1, 1988	First National Bank in Galva	IL	Wells Fargo Bank Illinois, National Association
Dec 1, 1988	First State Bank of Edgerton	WI	M&I Bank South
Dec 1, 1988	Leveranz Shoe Credit Union	WI	Sheboygan Area Credit Union
Dec 1, 1988	Commerce Bank of Harrisonville, N. A.	MO	Commerce Bank
Dec 1, 1988	Commerce Bank of Lexington, National Association	MO	Commerce Bank
Dec 1, 1988	Norwest Bank Owatonna, National Association	MN	Norwest Bank Minnesota South, N.A.
Dec 1, 1988	Austin Steel Cu	TX	Resource One Credit Union
Nov 30, 1988	United Bank of Belvidere	IL	First of America-North Central Illinois, National Association
Nov 29, 1988	American Security Company of Bedford, Incorporated	IN	National Processing Company
Nov 29, 1988	Riley Company, Inc.	IN	Merchants National Corporation
Nov 28, 1988	Pilot Point Bancshares Corporation	TX	Pilot Point Bancorp, Inc.
Nov 25, 1988	Bankcenter One	MO	Mark Twain Bank
Nov 23, 1988	Pueblo U.S. Industrial Bank	CO	American Industrial Bank, Inc
Nov 23, 1988	Colorado Springs U.S. Industrial Bank	CO	American Industrial Bank, Inc
Nov 23, 1988	Gsa No 3 Federal Credit Union	DC	Justice Federal Credit Union
Nov 22, 1988	Carver County Bancshares, Inc.	MN	Midamerica Bancshares, Inc.
Nov 21, 1988	(unnamed)	—	First Midwest Bank
Nov 21, 1988	Naper Bank Bolingbrook	IL	Firstar Bank Illinois
Nov 21, 1988	Wyoming National Bank Cheyenne East	WY	Norwest Bank Wyoming Cheyenne, National Association
Nov 19, 1988	Clay County Bank	TN	DeKalb County Bank & Trust Company
Nov 19, 1988	Sunshine Bank of Fort Walton Beach	FL	Regions Bank of Florida
Nov 17, 1988	Mutual Service Credit Union	NC	Truliant Federal 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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