Calendar Year

1989 in US Banking

1,629 bank events are on record for 1989: 530 failures, 971 mergers or acquisitions involving a bank, credit union or bank holding company, and 124 enforcement actions.

530

Failures

$163.86B in failed assets

971

Mergers

Federal Reserve NIC, banking organizations

124

Enforcement

OCC, FDIC, FRB, OTS and SEC 8-K filings

4

Assistance

FDIC open-bank assistance

Jump to: Bank failures 1989 · Bank mergers 1989

How many banks failed in 1989?

530 banks failed in 1989, with $163.86B in assets. Each failure below links to its own page.

Date	Bank	HQ	Assets	Acquirer or resolution
Mar 2, 1989	Elmwood Fed. S & L Assoc.	Harahan, LA	$57.4M	First NB of Commerce
Mar 2, 1989	First Fed. S & L Assoc.	Malvern, AR	$51.1M	Deposit payout
Mar 2, 1989	Suburban Savings Assoc.	San Antonio, TX	$49.2M	Plaza Bank, N.A.
Mar 2, 1989	The Barber County S & L Assoc.	Medicine Lodge, KS	$47.5M	First NB
Mar 2, 1989	Fountainbleau Federal	Slidell, LA	$38.7M	Fontainebleau Community Ban
Mar 2, 1989	Home Fed. S & L Assoc.	Mountain Home, AR	$37.2M	Deposit payout
Mar 2, 1989	Commonwealth S & L Assoc.	Osceola, AR	$37.1M	Southbank, a FSB
Mar 2, 1989	First Savings of Louisiana	La Place, LA	$25.9M	Hibernia NB
Mar 2, 1989	Unipoint Fed. Savings Bank	Trumann, AR	$18.9M	Unico Bank, FSB
Mar 2, 1989	Padre Federal S & L	Corpus Christi, TX	$18.4M	Deposit payout
Mar 2, 1989	Permian S & L Assoc.	Kermit, TX	$10.8M	Deposit payout
Feb 28, 1989	Commerce Sa	San Antonio, TX	$807.3M	Bank of America TX, N.A.
Feb 24, 1989	Mid-State S&LA	Champaign, IL	$28.4M	—
Feb 24, 1989	First Valley S&LA	Pikeville, TN	$11.9M	—
Feb 17, 1989	Southwest S & La	Phoenix, AZ	$2.27B	Security Pacific Bank Az
Feb 17, 1989	American S & La	Salt Lake City, UT	$2.18B	Pacific First FSB
Feb 17, 1989	Blue Valley FS & La	Kansas City, MO	$839.2M	United Missouri City Bank
Feb 17, 1989	Anchor Sa	Kansas City, KS	$834.0M	Bank IV Kansas City, N.A.
Feb 17, 1989	Occidental/Nebraska FSB	Omaha, NE	$677.3M	Firstier Bank, Na, Omaha
Feb 17, 1989	Security S & La	Scottsdale, AZ	$626.9M	Branch sale
Feb 17, 1989	Concordia Federal Bank for Savings	Lansing, IL	$468.8M	Advance FB for Savings
Feb 17, 1989	Guaranty Fed. S & L Assoc.	Birmingham, AL	$381.3M	Southtrust Affliated Banks
Feb 17, 1989	Horizon Fed. S & L Assoc.	Metairie, LA	$380.7M	Deposit payout
Feb 17, 1989	First FS & La	Largo, FL	$334.4M	Barnett Bank of Pinnelas Co
Feb 17, 1989	Westwood S & L Assoc.	Los Angeles, CA	$328.4M	Fidelity FB, FSB
Feb 17, 1989	Platte Valley FS & La	Gering, NE	$316.8M	First NB&TC of North Platte
Feb 17, 1989	North Jersey Federal Sav. Assoc.	Passaic, NJ	$278.1M	Valley NB
Feb 17, 1989	The First State Bank	Abilene, TX	$272.7M	NCNB Texas National Bank
Feb 17, 1989	French Market Homestead, FSA	Metairie, LA	$250.8M	First NB of Commerce
Feb 17, 1989	Mountainwest S & L Assoc.	Ogden, UT	$241.5M	Mountainwest Financial
Feb 17, 1989	Equitable Federal Savings Bank	Fremont, NE	$225.2M	Firstier Bank, Na, Omaha
Feb 17, 1989	Independence FS & La	Batesville, AR	$207.0M	Worthen B&TC, N.A.
Feb 17, 1989	Elysian Federal Savings Bank	Hoboken, NJ	$198.7M	Pamrapo SB, Sla
Feb 17, 1989	Sun Savings Association, F.A.	Kansas City, KS	$188.8M	Brotherhood B&TC
Feb 17, 1989	Community Saving & Loan	Fond du Lac, WI	$185.4M	Banc One Wi
Feb 17, 1989	Columbia Fed. Savings Bank	Westport, CT	$145.6M	Gateway Bank
Feb 17, 1989	Southern Floridabanc Federal	Boca Raton, FL	$143.3M	NCNB NB of FL
Feb 17, 1989	Midwest Fed. S & L Assoc.	Nebraska City, NE	$139.1M	American NB
Feb 17, 1989	Universal Savings & Loan	Scottsdale, AZ	$92.7M	First Arizona S&LA
Feb 17, 1989	Nile Valley Federal S & L Assoc.	Scottsbluff, NE	$56.3M	First NB&TC of North Platte
Feb 16, 1989	Louisiana Bank & Trust Company	Shreveport, LA	$270.4M	Hibernia National Bank
Feb 16, 1989	Texas National Bank	Houston, TX	$39.7M	First Galleria Bank
Feb 16, 1989	Security Bank	Houston, TX	$19.3M	Texas Commerce Bank, N.A.
Feb 16, 1989	Westpoint National Bank	San Antonio, TX	$8.3M	The Frost National Bank of
Feb 16, 1989	The Home State Bank	Arcadia, KS	$1.7M	—
Feb 15, 1989	First Continental National Bank	Houston, TX	$9.0M	—
Feb 14, 1989	University Federal Savings	Houston, TX	$4.48B	NCNB Texas National Bank
Feb 13, 1989	Midwest Federal Savings	Minneapolis, MN	$3.26B	Branch sale
Feb 10, 1989	Bright Banc	Dallas, TX	$4.39B	Banc One FSB
Feb 10, 1989	First Federal of Arkansas	Little Rock, AR	$1.58B	Branch sale

Which banks merged in 1989?

971 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1989.

See the fuller list: Bank mergers 1989 with largest deals and credit union mergers ›

Date	Acquired	St	Acquirer
Aug 26, 1989	Magna Bank of New Holland	IL	Magna Bank of Lincoln
Aug 26, 1989	Citizens Bancorporation	WA	Frontier Financial Corporation
Aug 26, 1989	Citizens Bank of Snohomish County	WA	Frontier Bank
Aug 25, 1989	H.E.R.E. Local 274 Federal Credit Union	PA	Philadelphia Federal Credit Union
Aug 25, 1989	Etcor Federal Credit Union	PA	Heights Community Federal Credit Union
Aug 25, 1989	Geesi Federal Credit Union	PA	Lebanon Federal Credit Union
Aug 24, 1989	Vipol Federal Credit Union	NJ	Bay Atlantic Federal Credit Union
Aug 24, 1989	Whitestown Federal Credit Union	NY	G.P.O. Federal Credit Union
Aug 22, 1989	Teeds Grove Savings Bank	IA	Community Bank
Aug 21, 1989	New Haven Merchant's Bank	CT	The Bank of New Haven
Aug 19, 1989	State Bank of Syracuse	IN	(unnamed)
Aug 18, 1989	Nanuet National Bank	NY	The Bank of New York Mellon
Aug 18, 1989	Ultra Bancorporation	NJ	National Westminster Bancorp NJ
Aug 18, 1989	Bank of New England-Essex	MA	Bank of New England-North, National Association
Aug 18, 1989	Colona Avenue State Bank	IL	Metrobank, National Association
Aug 18, 1989	GT/S and S Employees Federal Credit Union	IL	Meadows Credit Union
Aug 15, 1989	Ladysmith Corporation	MN	Pioneer Acquisition Corp.
Aug 15, 1989	First Healthcare Credit Union	IL	Illinois State Police Federal Credit Union
Aug 11, 1989	First Bristol County National Bank	MA	Fleet National Bank of Massachusetts
Aug 10, 1989	Western Union Employees Credit Union	IL	Vicinity Credit Union
Aug 10, 1989	First Federal Savings and Loan Association of Akron	OH	Charter One Bank, National Association
Aug 10, 1989	Western Reserve Savings Bank	OH	Charter One Bank, National Association
Aug 9, 1989	Post-Telegram Employees Federal Credit Union	CT	Bridgeport Hospital Federal Credit Union
Aug 9, 1989	Usl Battery Employees Federal Credit Union	NY	Niagara's Choice Federal Credit Union
Aug 9, 1989	Buena Vista Savings & Industrial Bank	CO	Peoples National Bank
Aug 8, 1989	Progresso Federal Credit Union	NJ	Bay Atlantic Federal Credit Union
Aug 8, 1989	Schuyler Hospital Employees Federal Credit Union	NY	Finger Lakes Health Care Federal Credit Union
Aug 7, 1989	Olde Rheims Federal Credit Union	NY	Servu Federal Credit Union
Aug 7, 1989	Atlantic Coast 66 Credit Union	NC	Truity Federal Credit Union
Aug 5, 1989	Arlington Banc Corporation	IN	P.T.C. Bancorp
Aug 4, 1989	Fedstar Savings Bank, Federal Savings Bank	VA	Household Bank, F.S.B.
Aug 4, 1989	Commerce Bank of Kirksville National Association	MO	First National Bank of Kirksville
Aug 4, 1989	Dutchess Bank and Trust Company	NY	The Bank of New York Mellon
Aug 3, 1989	Bank of Harwood	MO	Tri-County State Bank of Eldorado Springs
Aug 2, 1989	Beverly Building & Loan Association	NJ	Peoples Savings Bank
Aug 2, 1989	Kenmare Community Credit Union	ND	Town & Country Credit Union
Aug 1, 1989	UnibancTrust/Hawthorne	IL	Old Kent Bank
Aug 1, 1989	Illinois Regional Mortgage Corporation	IL	Old Kent-Illinois, Inc.
Aug 1, 1989	Warn-Belleview Employees Federal Credit Union	OR	United Trades Federal Credit Union
Aug 1, 1989	First Nebraska Bank	NE	First Nebraska Bank
Aug 1, 1989	I P I Federal Credit Union	IN	Indiana Members Credit Union
Aug 1, 1989	Robertson Paper Box Employees Credit Union	CT	Connecticut Community Credit Union, Inc.
Aug 1, 1989	Saint Therese New Bedford Federal Credit Union	MA	First Citizens Federal Credit Union
Aug 1, 1989	Bank of Paradise	CA	Wells Fargo Bank, N.A.
Aug 1, 1989	Visitation Credit Union, Inc.	OH	Trupartner Credit Union, Inc.
Aug 1, 1989	Operators Inc Fcu	LA	Cusa Federal Credit Union
Aug 1, 1989	California Hardware Company Employees Federal Credit Union	CA	Credit Union of Southern California, a Federal Credit Union
Aug 1, 1989	Placer County Employees Credit Union	CA	The Golden 1 Credit Union
Aug 1, 1989	Cumberland Corp Empl Cu	TN	Comtrust Federal Credit Union
Aug 1, 1989	Community National Bank	FL	Orange Bank

The list holds 500 of the 971 mergers recorded for 1989.

Enforcement Actions in 1989

Action date	Agency	Institution	Action
Nov 7, 1989	OCC_OTS	The Garnett Savings and Loan Association	Cease and Desist: The Garnett Savings and Loan Association
Nov 6, 1989	OCC_OTS	Pioneer Federal Savings & Loan Association	Supervisory Agreement: The Pioneer Savings and Loan Association
Nov 1, 1989	OCC	The Patoka National Bank	Civil Money Penalty (CMP): Wood, Mike T.
Oct 31, 1989	OCC_OTS	(individual)	Supervisory Agreement: Sun Savings Bank
Oct 30, 1989	FRB	First Security Bank of Missoula	Prohibition from Banking: Bruce F. Dailey
Oct 25, 1989	OCC_OTS	First Federal Savings Association of Wewoka	Supervisory Agreement: First Federal Savings and Loan Association of Wewoka
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Burkholder, Jack
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Thomas, Harvey
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Porter, John W.
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Porter, John R.
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Muir, Richard
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Lloyd, Sandra G.
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Higgs, Joe
Oct 24, 1989	OCC	The First National Bank of Sanger	Civil Money Penalty (CMP): Cochran, Robert
Oct 23, 1989	OCC_OTS	(individual)	Cease and Desist: Evergreen Federal Savings Bank
Oct 23, 1989	OCC_OTS	West Town Bancorp, Inc.	Orders of Removal/Prohibition: Richard Kukielski
Oct 19, 1989	OCC_OTS	Carrollton Federal Savings and Loan Association	Supervisory Agreement: Carrollton Federal Savings and Loan Association
Oct 13, 1989	OCC	Village Green National Bank	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Village Green National Bank
Oct 13, 1989	OCC_OTS	Padre Federal Savings & Loan Association	Orders of Removal/Prohibition: Rudy T. Garza
Oct 13, 1989	OCC_OTS	Peoples Heritage Savings, A Federal Savings and Loan Association	Orders of Removal/Prohibition: James R. Cruce
Oct 13, 1989	OCC	Memorial Bank, N.A.	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Memorial Bank, National Association
Oct 6, 1989	OCC_OTS	General Federal Savings Bank	Cease and Desist: General Bank, A Federal Savings Bank
Oct 6, 1989	OCC	Citizens National Bank of Walnut Ridge	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Citizens National Bank Of Walnut Ridge
Oct 2, 1989	FRB	American Banshares, Inc.	Civil Money Penalty $250,000: William Deam
Sep 29, 1989	OCC_OTS	Enterprise Federal Savings and Loan Association	Orders of Removal/Prohibition: Phillip Gattuso
Sep 29, 1989	OCC_OTS	Sutter Buttes Savings Bank, FSB	Cease and Desist: Sutter Buttes Savings and Loan Association
Sep 29, 1989	OCC_OTS	First America Federal Savings Bank	Cease and Desist: First America Savings Bank, Federal Savings Bank
Sep 29, 1989	OCC_OTS	Vision Banc Savings	Orders of Removal/Prohibition: B. J. Garman
Sep 27, 1989	OCC	The First National Bank of Carthage	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank Of Carthage
Sep 25, 1989	FRB	National Mortgage Bank of Greece S.A.	Civil Money Penalty $2,000,000: National Mortgage Bank of Greece, Astoria, NY
Sep 25, 1989	FRB	National Bank of Greece S.A.	Cease and Desist Order: National Bank of Greece, S.A., Athens, Greece
Sep 25, 1989	FRB	National Mortgage Bank of Greece S.A.	Cease and Desist Order: National Mortgage Bank of Greece, Astoria, NY
Sep 25, 1989	OCC	Wilshire Center Bank, N.A.	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Wilshire Center Bank, National Association
Sep 25, 1989	OCC	Central National Bank of Mattoon	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Central National Bank of Mattoon
Sep 25, 1989	FRB	National Bank of Greece S.A.	Civil Money Penalty $125,000: National Bank of Greece, S.A., Athens, Greece
Sep 20, 1989	OCC	Bedford National Bank	Civil Money Penalty (CMP): Bedford National Bank
Sep 20, 1989	OCC	Texas Commerce Finance, N.A.	Civil Money Penalty (CMP): Texas Commerce Bank - Conroe, N.A.
Sep 20, 1989	OCC	(individual)	Civil Money Penalty (CMP): Citicorp Trust, N.A.
Sep 18, 1989	OCC	Rocky Mountain National Bank	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Rocky Mountain Nationla Bank
Sep 15, 1989	OCC	American National Bank Elk City	Civil Money Penalty (CMP): Lowrey, Austin
Sep 13, 1989	OCC	Titan Bank, N.A.	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank
Sep 11, 1989	OCC_OTS	(individual)	Orders of Removal/Prohibition: Bruce H. Milligan
Sep 11, 1989	OCC_OTS	Enterprise Federal Savings and Loan Association	Orders of Removal/Prohibition: Ronald C. Brechtel
Sep 11, 1989	OCC	Security Bank of Denver, N.A.	Civil Money Penalty (CMP): Moll, David L.
Sep 8, 1989	OCC	The First National Bank of Kiester	Civil Money Penalty (CMP): Christian, Edward T.
Sep 8, 1989	OCC	The First National Bank of Kiester	Civil Money Penalty (CMP): Van Hove, Donald
Sep 8, 1989	OCC	The First National Bank of Kiester	Civil Money Penalty (CMP): Nickel, Donald
Sep 8, 1989	OCC	The First National Bank of Kiester	Civil Money Penalty (CMP): Eilertson, Edward
Sep 8, 1989	OCC	The First National Bank of Kiester	Civil Money Penalty (CMP): Bird, Kenneth R.
Sep 8, 1989	OCC	Gateway National Bank	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gateway National Bank

FDIC Open-Bank Assistance in 1989

Date	Institution	HQ	Assets
Apr 13, 1989	Tropical FS&LA	Miami, FL	$55.0M
Mar 30, 1989	Cartersville FSB of Georgia	Cartersville, GA	$56.7M
Feb 3, 1989	Cook County FS&LA	Chicago, IL	$164.0M
Jan 31, 1989	Metropolitan National Bank	San Antonio, TX	$4.4M

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