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
Apr 6, 1989	Central Texas S & La	Waco, TX	$216.1M	Kilgore FS&LA
Apr 6, 1989	Heritage Banc Savings	Duncanville, TX	$177.7M	NCNB Texas National Bank
Apr 6, 1989	Financial Federal Sa	Joplin, MO	$161.4M	Farm & Home Sa
Apr 6, 1989	First California Savings	Orange, CA	$161.4M	First American Bank
Apr 6, 1989	Excel Banc Savings Assoc.	Laredo, TX	$146.7M	Deposit payout
Apr 6, 1989	Founders Federal S & L	Los Angeles, CA	$134.7M	Founders NB of Los Angeles
Apr 6, 1989	Fidelity FSB	Corinth, MS	$116.4M	Southbank, a FSB
Apr 6, 1989	Centennial Savings Bank	Greenville, TX	$106.0M	NCNB Texas National Bank
Apr 6, 1989	Libertyville Fed. S & L Assoc.	Libertyville, IL	$101.0M	Harris Bank Libertyville
Apr 6, 1989	Bedford Savings Assoc.	Bedford, TX	$90.8M	First American Savings Banc
Apr 6, 1989	Gateway Federal Savings Bank	Oakland, CA	$72.7M	Gateway Bank, FSB
Apr 6, 1989	Cabrillo Federal Savings Bank	San Jose, CA	$71.8M	Financial Center Bank, N.A.
Apr 6, 1989	Washington S & L Assoc.	Stockton, CA	$66.7M	Security Pacific NB, N.A.
Apr 6, 1989	Sioux Valley S & La	Cherokee, IA	$61.8M	Deposit payout
Apr 6, 1989	First FS & La of Estherville	Estherville, IA	$60.6M	Branch sale
Apr 6, 1989	Arrowhead Pacific Federal Savings	San Bernardino, CA	$60.2M	Deposit payout
Apr 6, 1989	First Fed. Savings Bank	East Alton, IL	$55.6M	Illinois State B&T
Apr 6, 1989	First of Kansas Savings	Hays, KS	$53.9M	First NB&T
Apr 6, 1989	Cass FS & La of St. Louis	Florissant, MO	$52.4M	First Exchange Bank
Apr 6, 1989	Central S & L Assoc.	Jackson, MS	$52.1M	Bank of Forest
Apr 6, 1989	Meridian Saving Association	Arlington, TX	$48.9M	NCNB Texas National Bank
Apr 6, 1989	St. Tammany National Bank	Mandeville, LA	$47.1M	Whitney National Bank in St
Apr 6, 1989	Republic Bank for Savings	Jackson, MS	$43.4M	Southbank, a FSB
Apr 6, 1989	Park Cities Savings Association	Dallas, TX	$43.1M	Comerica Bank-TX
Apr 6, 1989	Unified Savings FS & La	Northridge, CA	$35.1M	Deposit payout
Apr 6, 1989	Royal Oak S & L Assoc.	Manteca, CA	$34.4M	Bank of Stockton
Apr 6, 1989	American Federal Savings Bank	Austin, TX	$33.5M	NCNB Texas National Bank
Apr 6, 1989	City S & L Assoc.	Westlake Village, CA	$33.3M	Olympia NB
Apr 6, 1989	First National Bank of Nocona	Nocona, TX	$23.3M	The First National Bank of
Apr 6, 1989	Golden Circle Sa	Corsicana, TX	$20.5M	Deposit payout
Apr 6, 1989	City Federal S & L Assoc.	Oakland, CA	$20.3M	Mission NB
Apr 6, 1989	Perpetual Savings Association	Santa Ana, CA	$18.7M	Bank of Industry
Apr 6, 1989	Delta FS & La	Drew, MS	$10.3M	Delta Bank & Trust
Apr 6, 1989	State Mutual Fed. S & L Assoc.	Jackson, MS	$8.7M	First Commerce SB
Apr 6, 1989	Equity Federal Savings Bank	Denver, CO	$4.5M	Deposit payout
Apr 5, 1989	Murray Savings Association	Dallas, TX	$1.44B	United Sa of the SW, FSB
Mar 31, 1989	Gibraltar Savings, F.A.	Simi Valley, CA	$13.38B	Security Pacific NB, N.A.
Mar 31, 1989	Gibraltar Savings Bank, FSB	Seattle, WA	$1.68B	Branch sale
Mar 31, 1989	First Service Bank for Savings	Leominster, MA	$880.7M	Peoples Savings Bank
Mar 31, 1989	Premier Bank, a N.A.	Dallas, TX	$37.1M	Deposit Guaranty Bank
Mar 31, 1989	Interstate Bank of Commerce	Miami, FL	$6.4M	—
Mar 30, 1989	Broadview Savings Bank	Cleveland, OH	$1.78B	First FSB
Mar 30, 1989	City FS & La	Birmingham, AL	$712.0M	First Alabama Bank
Mar 30, 1989	Heritage FS & La	Monroe, NC	$311.7M	First Citizens B&TC
Mar 30, 1989	Midland Buckeye Savings	Alliance, OH	$218.8M	Citizens Banking Co.
Mar 30, 1989	Baldwin County Fed. Savings Bank	Robertsdale, AL	$171.5M	First Alabama Bank
Mar 30, 1989	Great Atlantic Savings Bank	Manteo, NC	$126.8M	NCNB NB of NC
Mar 30, 1989	Durand FS & La	Durand, WI	$106.6M	Branch sale
Mar 30, 1989	Harvard Bank	Tulsa, OK	$23.1M	Southern National Bank
Mar 30, 1989	Community Fed. S & L Assoc.	Newport News, VA	$9.4M	Consolidated B&TC

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
Dec 15, 1989	Peoples Bank of Lilbourn	MO	Bank of New Madrid
Dec 15, 1989	Antrim County State Bank	MI	First of America Bank - Northern Michigan
Dec 15, 1989	First National Bank of Hallettsville	TX	Victoria Bank & Trust Company - Central
Dec 15, 1989	Cullen Bank Sugar Land	TX	Cullen Center Bank & Trust
Dec 14, 1989	Montrose Division Federal Credit Union	PA	Penn East Federal Credit Union
Dec 14, 1989	Dixie Bancshares, Inc.	TN	Reelfoot Bancshares, Inc.
Dec 14, 1989	1st Security Bank	OH	Fifth Third Bank, Ohio Valley
Dec 13, 1989	Henry Vogt Employees Credit Union	KY	L&N Federal Credit Union
Dec 12, 1989	Commercial Bank and Trust Company	IN	Anderson Banking Company
Dec 12, 1989	Maxon Employees Federal Credit Union	IN	Thrive Federal Credit Union
Dec 12, 1989	North Country Employees Federal Credit Union	NY	Adirondack Regional Federal Credit Union
Dec 11, 1989	Mine Mill Federal Credit Union	OH	Steel Valley Federal Credit Union
Dec 9, 1989	Builders Federal Savings and Loan Association of Rocky Mount	NC	Raleigh Federal Savings Bank
Dec 8, 1989	Cullen Bank/CityWest, National Association	TX	Cullen Center Bank & Trust
Dec 8, 1989	Alliance Financial Corporation	MI	Comerica Incorporated
Dec 8, 1989	Dearborn Bank and Trust Company	MI	Comerica Bank
Dec 8, 1989	(unnamed)	—	Huntington Banks of Michigan
Dec 6, 1989	Baltimore Federal Savings Employees Federal Credit Union	MD	Atlantic Financial Federal Credit Union
Dec 6, 1989	Community Concern #13 Federal Credit Union	PA	Philadelphia Federal Credit Union
Dec 4, 1989	Honeywell Bull Credit Union	MA	Metro Credit Union
Dec 2, 1989	American Savings Bank	WA	Bank of America NW, National Association
Dec 2, 1989	First Galena Bancshares, Inc.	IL	Nwib Acquisition Corporation
Dec 1, 1989	Valley Utah Bancorporation	UT	Banc One Arizona Corporation
Dec 1, 1989	Vanguard Banks	FL	Synovus Financial Corp.
Dec 1, 1989	Concord Savings Bank, Federal Savings Bank	MD	Washington Federal Savings Bank
Dec 1, 1989	Early Financial Bancshares, Inc.	TX	Texasbanc Holding Co.
Dec 1, 1989	National Commerce Corporation	MS	United Southern Corporation
Dec 1, 1989	Howard Bancorp	VT	Banknorth Group, Inc.
Dec 1, 1989	Banknorth Group, Inc.	VT	Banknorth Group, Inc.
Dec 1, 1989	Farmers Property Co Inc	IL	Farmers National Bancorp, Inc.
Dec 1, 1989	First Ohio Bancshares, Inc.	OH	Fifth Third Bancorp
Dec 1, 1989	Western Commercial, Inc.	CA	Vallicorp Holdings, Inc.
Dec 1, 1989	Fresno Bancorp	CA	Vallicorp Holdings, Inc.
Dec 1, 1989	Church of the Brethren Federal Credit Union	CA	First City Credit Union
Dec 1, 1989	Farmers State Bank & Trust Company	TX	Victoria Bank & Trust Company - Central
Dec 1, 1989	Mautz Employees Credit Union	WI	Heartland Credit Union
Dec 1, 1989	Amsco Employees Credit Union	KY	Transcend Credit Union
Dec 1, 1989	Fresno Bank of Commerce	CA	Valliwide Bank
Dec 1, 1989	The O'Neill National Bank	NE	Pinnacle Bank
Dec 1, 1989	Hussey Employees Federal Credit Union	ME	York County Federal Credit Union
Dec 1, 1989	G&G Federal Credit Union	VA	United Southeast Federal Credit Union
Dec 1, 1989	Immaculate Heart of Mary Credit Union	WI	Members First Credit Union
Dec 1, 1989	Bell Employees Credit Union	WI	Verve a Credit Union
Dec 1, 1989	Sag Harbor Savings Bank	NY	Apple Bank
Dec 1, 1989	American Bank of St. Louis County	MO	American Bank of St. Louis
Dec 1, 1989	Macomb County Bank	MI	First State Bank
Dec 1, 1989	Smiley State Bank	TX	Victoria Bank & Trust Company - Central
Dec 1, 1989	Summit Bank of Johnson County	IN	Summit Bank of Indianapolis
Dec 1, 1989	Sequoia Central Credit Union	CA	The Golden 1 Credit Union
Dec 1, 1989	Home State Bank	TX	Victoria Bank & Trust Company - Central

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

Browse adjacent years: 1988 · 1990

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