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