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
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

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