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 |
|---|---|---|
| Nov 4, 1989 | Bank One, Mequon | Bank One, Wisconsin |
| Nov 4, 1989 | Continental Illinois Holding Corporation | Continental Bank Corporation |
| Nov 4, 1989 | Ontario Savings and Loan Association | Union Federal Bank, a Federal Savings Bank |
| Nov 4, 1989 | Community Bank of Creswell | Siuslaw Bank |
| Nov 3, 1989 | I P T C Employees Credit Union | Indiana Members Credit Union |
| Nov 3, 1989 | State Bank of St. Joseph | Busey Bank |
| Nov 3, 1989 | First of America Bank - Gogebic, National Association | First of America Bank-Upper Peninsula, National Association |
| Nov 2, 1989 | Midwest Financial Group, Inc. | First of America Bancorporation-Illinois, Inc. |
| Nov 1, 1989 | Miller-Rellim Redwood Employees Credit Union | Coast Central Credit Union |
| Nov 1, 1989 | Central Financial Group, Inc. | Banc One Illinois Corporation |
| Nov 1, 1989 | Landmark Bank of Branson | Union Planters Bank of Southwest Missouri |
| Nov 1, 1989 | Mendota Credit Union | Heritage Credit Union |
| Nov 1, 1989 | Lincoln/MSC Postal Employees Credit Union | Spirit of America Federal Credit Union |
| Nov 1, 1989 | Warner Center Credit Union | Fiscal Credit Union |
| Nov 1, 1989 | Employees Credit Union Swift & Company Los Angeles | Credit Union of Southern California, a Federal Credit Union |
| Nov 1, 1989 | American National Bank - Corpus Christi | American Bank, National Association |
| Nov 1, 1989 | Mercy Center Federal Credit Union | Healthcare Associates Credit Union |
| Nov 1, 1989 | Landmark Bank of Springfield | Union Planters Bank of Southwest Missouri |
| Nov 1, 1989 | American Bank and Trust Company | Southern National Bank of North Carolina |
| Nov 1, 1989 | Patrons Credit Union | Kansas Teachers Community Credit Union |
| Nov 1, 1989 | The Nodaway Valley National Bank of Villisca | Bank Iowa |
| Nov 1, 1989 | SNC Employees Federal Credit Union | 1st Choice Community Federal Credit Union |
| Nov 1, 1989 | Community National Bank | First State Bank |
| Nov 1, 1989 | Community State Bank of Fowlerville | NBD Commerce Bank |
| Oct 31, 1989 | Campus Corner Development Company | KeyBank National Association |
| Oct 31, 1989 | Rutland Development Corporation | KeyBank National Association |
| Oct 31, 1989 | Federal Way Realty Investors, Inc. | KeyBank National Association |
| Oct 31, 1989 | Associates Federal Savings and Loan Association | Granite Bank, Federal Savings Bank |
| Oct 31, 1989 | CCNB Bancshares Corporation | Landmark Acquisition Corporation |
| Oct 31, 1989 | Honolulu Roofing Federal Credit Union | Hawaii Federal Credit Union |
| Oct 30, 1989 | Standish Community Credit Union | North Central Area Credit Union |
| Oct 28, 1989 | Fayetteville First Federal Savings and Loan Association | First American Federal Savings and Loan Association |
| Oct 28, 1989 | Rock County Savings and Trust Company | Johnson Bank, National Association |
| Oct 27, 1989 | American Bank | Jefferson National Bank/Tidewater |
| Oct 27, 1989 | Fair Oaks National Bank | Frost Bank |
| Oct 27, 1989 | First National Bank | Frost Bank |
| Oct 26, 1989 | The Jackson County State Bank | Norwest Bank Texas, South Central |
| Oct 26, 1989 | Bank of Commerce Calhoun County | Norwest Bank Texas, South Central |
| Oct 24, 1989 | Mutual Federal Savings and Loan Association | Household Bank, F.S.B. |
| Oct 23, 1989 | Wabash County School Employees Federal Credit Union | Beacon Credit Union |
| Oct 20, 1989 | Southwest Bank | (unnamed) |
| Oct 19, 1989 | Pelican Bancshares, Inc. | International Bancorporation, Inc. |
| Oct 14, 1989 | Bank of Oklahoma, Southwest Tulsa | BOKF, N.A. |
| Oct 14, 1989 | Security Bancshares, Incorporated | First Capital Bancorp, Inc. |
| Oct 14, 1989 | Bank of Oklahoma, Broken Arrow, National Association | BOKF, N.A. |
| Oct 14, 1989 | Security Bank, Monroe, Louisiana | Capital Bank |
| Oct 14, 1989 | Bank of Oklahoma, Lewis Center | BOKF, N.A. |
| Oct 14, 1989 | Bank of Oklahoma, City Plaza | BOKF, N.A. |
| Oct 10, 1989 | Virginia Beach Federal Credit Union | Navy Federal Credit Union |
| Oct 7, 1989 | Lake Shore K C Federal Credit Union | Eastside Family Federal Credit Union |
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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