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
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

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