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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
Dec 21, 1989 Columbia FSA Nassau Bay, TX $77.1M Deposit payout
Dec 21, 1989 Silver Savings Assoc. Silver City, NM $32.2M First New Mexico Bank
Dec 20, 1989 First City National Bank and Trust New York, NY $39.5M —
Dec 20, 1989 United Community Bank Westlake Village, CA $32.3M Olympic National Bank
Dec 15, 1989 First American Bank and Trust North Palm Beach, FL $1.38B First American Bank and Tru
Dec 14, 1989 Yorkridge-Calvert Federal Savings Baltimore, MD $585.8M Household Bank, FSB
Dec 14, 1989 Louisiana Savings Assn. Lake Charles, LA $449.3M Branch sale
Dec 14, 1989 First Acadiana Bank Eunice, LA $46.8M American Security Bank of V
Dec 14, 1989 Canyon Lake Bank Canyon Lake, TX $31.0M Victoria Bank & Trust Compa
Dec 14, 1989 North Side State Bank Tulsa, OK $20.4M Bank of Tulsa
Dec 14, 1989 Red River S & L Assoc. Coushatta, LA $10.4M Peoples State Bank
Dec 13, 1989 City National Bank of Sayre Sayre, OK $21.0M First State Bank and Trust
Dec 13, 1989 Midlothian National Bank Midlothian, TX $9.9M The First National Bank in
Dec 8, 1989 City Savings, FSB Somerset, NJ $9.81B Branch sale
Dec 8, 1989 Atlantic Permanent Federal Norfolk, VA $581.0M Branch sale
Dec 8, 1989 First Bank, Pineville, Louisiana Pineville, LA $72.3M Rapides Bank & Trust Compan
Dec 8, 1989 Orange State Bank Miami, FL $8.0M Helm Bank
Dec 7, 1989 Arlington Heights Savings Assoc. Arlington Heights, IL $509.1M Citibank FSB
Dec 7, 1989 Community Federal Savings Assoc. Bridgeport, CT $58.3M Union Trust Co.
Dec 7, 1989 Westheimer Memorial Bank, N.A. Houston, TX $38.9M Hibernia National Bank in T
Dec 7, 1989 First Commerce National Bank Phoenix, AZ $20.3M Citicorp(arizona)
Dec 7, 1989 Atlantic National Bank Norfolk, VA $14.4M New Atlantic Bank, National
Dec 7, 1989 The Garnett S & L Assoc. Garnett, KS $13.6M Farmers State Bank
Dec 7, 1989 Aledo State Bank Aledo, TX $9.9M Citizens National Bank of W
Dec 7, 1989 First National Bank of Frisco Frisco, TX $9.0M Hibernia National Bank in T
Dec 1, 1989 First Security Bank of Glendive Glendive, MT $32.4M The First National Bank of
Dec 1, 1989 Central Dakota Bank Lehr, ND $13.9M Security State Bank, Wishek
Nov 30, 1989 Security Federal Savings, FSB Columbia, SC $759.2M South Carolina NB
Nov 30, 1989 Brookside Federal S & L Los Angeles, CA $601.4M Deposit payout
Nov 30, 1989 Southwestern Federal Savings El Paso, TX $126.4M Deposit payout
Nov 30, 1989 Austin FS & La Austin, TX $113.4M Deposit payout
Nov 30, 1989 Fortune Financial Fed. S & L Assoc Copperas Cove, TX $84.2M Deposit payout
Nov 30, 1989 Greater Texas Bank Southwest, N.A. Travis County, TX $32.6M NCNB Texas National Bank
Nov 30, 1989 Salamanca Fed. Savings Assoc. Salamanca, NY $29.7M Cattaraugus City Bank
Nov 30, 1989 Greater Texas Bank North, N.A. Austin, TX $22.7M Hibernia National Bank in T
Nov 30, 1989 First Federal Savings Bank Diamondville, WY $13.4M Deposit payout
Nov 17, 1989 Security National Bank of Shreveport Shreveport, LA $19.4M —
Nov 16, 1989 Sooner Federal Savings Assoc. Tulsa, OK $1.53B First Gibraltar Bank, FSB
Nov 16, 1989 General Federal Savings Bank Coral Gables, FL $355.5M Republic NB of Miami
Nov 16, 1989 First Federal S & L /Central Indiana Anderson, IN $192.4M Shelby FSB
Nov 16, 1989 Texas Western Federal Savings Houston, TX $116.1M Deposit payout
Nov 16, 1989 Security Fed. Savings Association Garden Grove, CA $71.0M Itt FB, FSB
Nov 16, 1989 Love Field National Bank Dallas, TX $28.3M Hibernia National Bank in T
Nov 16, 1989 Executive National Bank San Antonio, TX $7.3M Hibernia National Bank in T
Nov 9, 1989 Colonial Federal Savings Assoc. Roselle Park, NJ $427.1M Branch sale
Nov 9, 1989 Fidelity Federal Savings Assoc. Galesburg, IL $393.8M First Bank, a SB
Nov 9, 1989 Crest Federal S & L Kankakee, IL $137.1M Branch sale
Nov 9, 1989 Aspen Savings Bank FSB Aspen, CO $136.3M Bank of Aspen
Nov 9, 1989 Saratoga S & L Association San Jose, CA $84.5M Pacific Western Bank
Nov 9, 1989 City National Bank of Plano Plano, TX $56.5M Compass Bank - Plano

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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