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 | Assets |
|---|---|---|
| Feb 10, 1989 | Savers FS & La | $806.0M |
| Feb 10, 1989 | Sandia FS & La | $747.1M |
| Feb 10, 1989 | Deseret S & L Assoc. | $159.3M |
| Feb 10, 1989 | Signal S&LA | $46.1M |
| Feb 9, 1989 | First Bank & Trust | $148.1M |
| Feb 9, 1989 | Citizens Bank | $100.1M |
| Feb 9, 1989 | Citizens Bank Houston | $40.2M |
| Feb 7, 1989 | Baltimore Federal Financial | $1.57B |
| Feb 7, 1989 | Freedom S & La | $1.40B |
| Feb 7, 1989 | Gill Sa | $1.21B |
| Feb 7, 1989 | Pacific Savings Bank | $1.12B |
| Feb 3, 1989 | Alaska Statebank | $90.8M |
| Jan 27, 1989 | Carver S&LA | $265.8M |
| Jan 27, 1989 | Oakwood National Bank | $23.0M |
| Jan 27, 1989 | First FS&LA in New Albany | $20.8M |
| Jan 26, 1989 | First State Bank of Texas | $16.3M |
| Jan 26, 1989 | Citizens State Bank | $15.6M |
| Jan 26, 1989 | Community Bank, N.A. | $8.6M |
| Jan 19, 1989 | Merchants State Bank | $122.0M |
| Jan 19, 1989 | Southern Federal SB | $76.6M |
| Jan 19, 1989 | The Planters Bank & Trust Company | $57.3M |
| Jan 19, 1989 | First National Bank of Cedar Park | $18.6M |
| Jan 12, 1989 | The National Bank of Bossier City | $73.3M |
| Jan 12, 1989 | Commercial State Bank | $49.2M |
| Jan 12, 1989 | West Belt National Bank | $26.1M |
| Jan 12, 1989 | Orleans Bank and Trust Company | $24.9M |
| Jan 12, 1989 | Oak Hill National Bank | $18.2M |
| Jan 12, 1989 | Rolling Hills State Bank | $13.2M |
| Jan 12, 1989 | First State Bank | $10.5M |
| Jan 5, 1989 | Bank of Benton | $12.2M |
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 |
|---|---|---|
| Jul 1, 1989 | Alpena Catholic Credit Union | Thunder Bay Area Credit Union |
| Jul 1, 1989 | Eltra Die Cast Federal Credit Union | McHenry County Federal Credit Union |
| Jul 1, 1989 | Galaxy Carpet Mills Fcu | Comtrust Federal Credit Union |
| Jul 1, 1989 | The Amsterdam State Bank | Unibank |
| Jul 1, 1989 | Termaco Credit Union | Carolina Cooperative Federal Credit Union |
| Jul 1, 1989 | West Grand River Community Credit Union | Route 31 Federal Credit Union |
| Jul 1, 1989 | Ymca Federal Credit Union | Coastway Community Bank |
| Jul 1, 1989 | Shannon Credit Union | Qualtrust Credit Union |
| Jul 1, 1989 | Kanawha Union Bank | United National Bank - Central |
| Jul 1, 1989 | Lincolnway State Bank | First Bank South |
| Jul 1, 1989 | Hoechst Celanese Employees Federal Credit Union | Sharonview Federal Credit Union |
| Jul 1, 1989 | DH Holmes Federal Credit Union | Onpath Federal Credit Union |
| Jul 1, 1989 | Wabash Sylvania Employees Federal Credit Union | Palco Federal Credit Union |
| Jul 1, 1989 | Bank One, Clintonville, National Association | First State Bank |
| Jul 1, 1989 | Midlantic National Bank/South | (unnamed) |
| Jul 1, 1989 | Ed Med Credit Union | Summit Credit Union |
| Jul 1, 1989 | Fort Carson National Bank | Armed Forces Bank, N.A. |
| Jul 1, 1989 | Temporaries Federal Credit Union | Infirst Federal Credit Union |
| Jul 1, 1989 | The Peoples State Bank of Caro, Michigan | Chemical Bank Bay Area |
| Jul 1, 1989 | The Cass City State Bank | Chemical Bank Bay Area |
| Jul 1, 1989 | Sears Atlanta Empl Fcu | LGE Community Credit Union |
| Jul 1, 1989 | Elk National Bank | United Bank |
| Jul 1, 1989 | Billings Conoco Credit Union | Valley Financial Credit Union |
| Jul 1, 1989 | Southpark National Bank of The Quad Cities | First of America Bank-Quad Cities, National Association |
| Jul 1, 1989 | Ohio Valley National Bank of Vienna | United Bank |
| Jul 1, 1989 | The First National Bank of Jessup | First Liberty Bank & Trust |
| Jul 1, 1989 | First South Bank | Century South Bank of Central Georgia, National Association |
| Jul 1, 1989 | First of America Bank-Mid-Michigan | First of America Bank - Mid Michigan, National Association |
| Jul 1, 1989 | Midlantic National Bank/Merchants | (unnamed) |
| Jul 1, 1989 | Eggers Employees Credit Union | Riverwood-Maritime Credit Union |
| Jul 1, 1989 | Huron County Bank | Chemical Bank Bay Area |
| Jul 1, 1989 | Webster County National Bank | United National Bank - Central |
| Jul 1, 1989 | St. Peter and Paul Parish Credit Union | 1st City Credit Union |
| Jul 1, 1989 | Eis Employees Credit Union | Dutch Point Credit Union |
| Jul 1, 1989 | Ocean Products Fcu | Trax Federal Credit Union |
| Jul 1, 1989 | Ideal Credit Union | West Virginia Central Federal Credit Union |
| Jul 1, 1989 | Mount Carroll National Bank | First Bank North |
| Jul 1, 1989 | Wood River Hospital Credit Union | Midwest Members Credit Union |
| Jul 1, 1989 | Illinois Central East St. Louis Credit Union | Midwest Members Credit Union |
| Jul 1, 1989 | First National Bank of Freeport | First Bank North |
| Jul 1, 1989 | Brownbilt Credit Union | First Missouri Credit Union |
| Jul 1, 1989 | The Polo National Bank | First Bank South |
| Jul 1, 1989 | First National Bank of Morton | First of America Bank-Illinois, National Association |
| Jul 1, 1989 | Key Atlantic Bancorp | KeyCorp |
| Jul 1, 1989 | Granite Bank | Granite Bank, National Association |
| Jul 1, 1989 | Danco, Inc. | Valley Bancshares, Inc. |
| Jul 1, 1989 | Lee County Bancorp., Inc. | Lee Capital Corp. |
| Jul 1, 1989 | Humboldt Investment Corp. | Bank Iowa Corporation |
| Jul 1, 1989 | Sullivan Community Credit Union | South Community Credit Union |
| Jul 1, 1989 | Brenton Ins. Ag of Eagle Grove Inc | Brenton Bank and Trust Company |
The list holds 500 of the 971 mergers recorded for 1989.
Enforcement Actions in 1989
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Sep 7, 1989 | OCC | The First National Bank of Kiester | Civil Money Penalty (CMP): Lorenz, Forest |
| Sep 5, 1989 | OCC | Citizens First Trust Company, LLC | Civil Money Penalty (CMP): Padgett, James L. |
| Aug 30, 1989 | OCC | First Bank N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Bank National Association |
| Aug 23, 1989 | OCC_OTS | First Commerce Savings Bank, FSB | Supervisory Agreement: First Commerce Bank, A Federal Savings Bank |
| Aug 22, 1989 | OCC | Bergen Park National Bank | Civil Money Penalty (CMP): Kinney, Gregg A. |
| Aug 22, 1989 | OCC | Bergen Park National Bank | Civil Money Penalty (CMP): Lamphier, Mark A. |
| Aug 8, 1989 | OCC_OTS | Brookside Federal Savings and Loan Association | Orders of Removal/Prohibition: Michael S. Moers |
| Aug 8, 1989 | OCC_OTS | Cross Roads Savings and Loan Association, F.A. | Orders of Removal/Prohibition: Gary B. Hobbs |
| Aug 8, 1989 | OCC_OTS | Padre Federal Savings & Loan Association | Orders of Removal/Prohibition: Clemente Garcia, Jr. |
| Aug 8, 1989 | OCC_OTS | River City FSB | Orders of Removal/Prohibition: J. Edward Revel, Jr. |
| Aug 4, 1989 | OCC_OTS | First Federal Savings and Loan of Central Indiana | Supervisory Agreement: First Savings and Loan Association of Central Indiana |
| Jun 22, 1989 | OCC_OTS | (individual) | Supervisory Agreement: Peoples Savings and Loan Association of Brookville |
| Jun 20, 1989 | OCC | First National Bank of Pickens County | Civil Money Penalty (CMP): Bailey, James K. |
| Jun 20, 1989 | OCC | The Rushville National Bank | Civil Money Penalty (CMP): Hedrick, Donald E. |
| Jun 2, 1989 | OCC_OTS | Southeastern Federal Savings Bank | Supervisory Agreement: Southeastern Savings Bank, Inc. |
| May 18, 1989 | OCC_OTS | Great West, a Federal Savings Bank | Supervisory Agreement: Great West Savings Bank, F.S.B. |
| Apr 20, 1989 | OCC_OTS | Home Federal Savings and Loan Association of Harlan | Supervisory Agreement: Home Federal Savings and Loan Association of Harlan |
| Apr 18, 1989 | OCC_OTS | (individual) | Supervisory Agreement: Home Savings Association of Kansas City, F.A. |
| Apr 6, 1989 | OCC_OTS | The Garnett Savings and Loan Association | Supervisory Agreement: The Garnett Savings and Loan Association |
| Mar 15, 1989 | OCC_OTS | SJS Bancorp, Inc. | Supervisory Agreement: SJS Federal Savings Bank |
| Mar 15, 1989 | OCC_OTS | Newport Savings and Loan Association | Supervisory Agreement: Newport Savings and Loan Association |
| Jan 23, 1989 | OCC_OTS | American Charter Federal Savings and Loan Association | Supervisory Agreement: Charter Federal Savings and Loan Association |
| Jan 20, 1989 | OCC_OTS | First Federal Savings Association of Chickasha | Supervisory Agreement: First Federal Savings and Loan Association of Chickasha |
| Jan 13, 1989 | OCC_OTS | (individual) | Supervisory Agreement: Mid Kansas Federal Savings and Loan Association |
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 |
Browse adjacent years: 1988 · 1990
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