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.
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 | Acquirer |
|---|---|---|
| Sep 23, 1989 | Bank of Pleasanton | The Farmers State Bank of Blue Mound |
| Sep 20, 1989 | Winter Garden Credit Union | Gulf Coast Federal Credit Union |
| Sep 16, 1989 | Marquette Bank University, National Association | Marquette Bank Minneapolis, National Association |
| Sep 16, 1989 | First Bank Cottage Grove National Association | U.S. Bank National Association |
| Sep 16, 1989 | Marquette Bank Columbia Heights | Marquette Bank Minneapolis, National Association |
| Sep 16, 1989 | First Bank and Trust Company | Wachovia Bank of Georgia, National Association |
| Sep 16, 1989 | Marquette Bank Lake | Marquette Bank Minneapolis, National Association |
| Sep 15, 1989 | Southern California Free Methodist Credit Union | Adelfi Credit Union |
| Sep 15, 1989 | Bank of Long Island | The Bank of New York Mellon |
| Sep 15, 1989 | Bridgeport Progressive Federal Credit Union | McKesson Federal Credit Union |
| Sep 13, 1989 | Lion Wilkes Barre Federal Credit Union | Choice One Community Federal Credit Union |
| Sep 11, 1989 | First Federal Savings and Loan Association of Montclair | Penn Federal Savings Bank |
| Sep 9, 1989 | Society Bank of Eastern Ohio, National Association | KeyBank N.A. |
| Sep 9, 1989 | Saint Gregory Federal Credit Union | Abnb Federal Credit Union |
| Sep 9, 1989 | Mercantile Bancorp, Inc. | First Fidelity Bancorp, Inc. |
| Sep 9, 1989 | Touro Employees Federal Credit Union | Onpath Federal Credit Union |
| Sep 9, 1989 | Mercantile Bank, N.A. | First Fidelity Bank |
| Sep 4, 1989 | Magna Bank of Freeburg | Magna Bank, National Association |
| Sep 3, 1989 | Magna Bank of Mascoutah | Magna Bank, National Association |
| Sep 3, 1989 | Magna Bank of Marissa | Magna Bank, National Association |
| Sep 2, 1989 | Eastex Bancshares, Inc. | Ubank Holdings, Inc. |
| Sep 1, 1989 | Wabash General Hospital Federal Credit Union | Louisville Medical Center Federal Credit Union |
| Sep 1, 1989 | Plateau Cu | Upper Cumberland Federal Credit Union |
| Sep 1, 1989 | FN Bancorp | Fort Wayne National Corporation |
| Sep 1, 1989 | St. Joseph Bancorp, Inc. | First Busey Corporation |
| Sep 1, 1989 | Consolidated Banc Shares | CB&T Financial Corp |
| Sep 1, 1989 | Exchange Holding, Inc. | Fourth Financial Corporation |
| Sep 1, 1989 | American Heritage Bancshares, Inc. | Manufacturers National Corporation |
| Sep 1, 1989 | Arcom Credit Union | Sherwin Williams Employees Credit Union |
| Sep 1, 1989 | The Lowndes Bank | Community Bank & Trust |
| Sep 1, 1989 | The Mountain National Bank of Clifton Forge | Crestar Bank |
| Sep 1, 1989 | Saint Gregory the Great Parish Credit Union | Saints Margaret & Gregory Federal Credit Union |
| Sep 1, 1989 | Scarsdale National Bank and Trust Company | The Bank of New York Mellon |
| Sep 1, 1989 | Texas National Guard Credit Union | United Heritage Credit Union |
| Sep 1, 1989 | Hayward Regional Federal Credit Union | Waypoint Federal Credit Union |
| Sep 1, 1989 | (unnamed) | Boatmen's National Bank of Cape Girardeau |
| Sep 1, 1989 | First of America Bank - Ludington, National Association | First of America Bank-Muskegon |
| Sep 1, 1989 | Valley National Bank | The Midway National Bank of St. Paul |
| Sep 1, 1989 | Galveston News Employee Federal Credit Union | Primeway Federal Credit Union |
| Sep 1, 1989 | J.H.S. Employees Credit Union | Resource Federal Credit Union |
| Sep 1, 1989 | Digital Communications Corporation Employees Federal Credit Union | Kinecta Federal Credit Union |
| Sep 1, 1989 | Heylpat Federal Credit Union | Tri-Valley Services Federal Credit Union |
| Sep 1, 1989 | First Federal Savings and Loan Association | Magnolia Federal Bank for Savings |
| Sep 1, 1989 | Newman-Crosby Employees Credit Union | COASTAL1 Credit Union |
| Sep 1, 1989 | (unnamed) | First Interstate Bank of California |
| Aug 31, 1989 | Saint Cyril and Saint Francis Xaviers Parishes Federal Credit Union | Little Giant Federal Credit Union |
| Aug 29, 1989 | CBI Insurance Services Inc | Valley Bank |
| Aug 29, 1989 | Midamerican Corporation | Midamerican Corporation |
| Aug 29, 1989 | (unnamed) | The Seymour National Bank |
| Aug 28, 1989 | The First National Bank of Ripley | United 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 | Assets |
|---|---|---|
| Apr 13, 1989 | Tropical FS&LA | $55.0M |
| Mar 30, 1989 | Cartersville FSB of Georgia | $56.7M |
| Feb 3, 1989 | Cook County FS&LA | $164.0M |
| Jan 31, 1989 | Metropolitan National Bank | $4.4M |
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