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
Aug 24, 1989	Denton Federal Savings	Denton, TX	$142.7M	Kilgore FS&LA
Aug 24, 1989	Heritage Savings Assoc.	Jerseyville, IL	$32.9M	Carrollton B&TC
Aug 24, 1989	The Dakota Bank	Grand Forks, ND	$31.2M	First National Bank South
Aug 24, 1989	First State Bank	Pflugerville, TX	$30.7M	Hibernia National Bank in T
Aug 24, 1989	Farmers State Bank of Yuma	Yuma, CO	$26.6M	The First Security Bank
Aug 24, 1989	Troup Bank & Trust Company	Troup, TX	$24.1M	First National Bank of Jack
Aug 24, 1989	Summit Bank	San Antonio, TX	$19.2M	The Frost National Bank of
Aug 24, 1989	Park Central Bank, National Assoc	Fort Worth, TX	$11.9M	Colonial National Bank
Aug 17, 1989	Security Fed. S & L Assoc.	Peoria, IL	$318.3M	First Financial Bank, FSB
Aug 17, 1989	Taylorbanc Federal S & L	Taylor, TX	$139.5M	Kilgore FS&LA
Aug 17, 1989	Black Hawk S & L Assoc.	Rock Island, IL	$71.8M	American Bank of Rock Islan
Aug 17, 1989	First State Bank	Liberty, TX	$62.2M	First City, Texas-Beaumont
Aug 17, 1989	Southside Fed. S & L Assoc.	Austin, TX	$49.6M	Deposit payout
Aug 17, 1989	Citizens National Bank of Killeen	Killeen, TX	$35.5M	First National Bank of Temp
Aug 17, 1989	Hearne Building & Loan Assoc.	Hearne, TX	$27.1M	Deposit payout
Aug 17, 1989	Guadalupe S & L Assoc.	Kerrville, TX	$25.8M	Deposit payout
Aug 17, 1989	First State Bank of McKinney	McKinney, TX	$18.1M	First Bank
Aug 10, 1989	Peoples Heritage FS & La	Salina, KS	$1.81B	Branch sale
Aug 10, 1989	Metropolitan Financial FS & La	Dallas, TX	$799.5M	United Sa of the SW, FSB
Aug 10, 1989	Unifirst Bank for Savings	Jackson, MS	$738.3M	Branch sale
Aug 7, 1989	Security Homestead Federal	New Orleans, LA	$547.6M	Branch sale
Aug 7, 1989	South S & L Assoc.	Slidell, LA	$267.4M	Branch sale
Aug 7, 1989	Delta Savings & Loan Association	Kenner, LA	$148.5M	First State B&TC
Aug 7, 1989	Citizens Homestead FSA	New Orleans, LA	$108.6M	Deposit payout
Aug 7, 1989	American Savings & Loan	New Orleans, LA	$61.1M	Gulf Coast B&TC
Aug 7, 1989	Central Savings & Loan	New Orleans, LA	$53.3M	Gulf Coast B&TC
Aug 7, 1989	Home S & L Assoc.	New Orleans, LA	$36.5M	Deposit payout
Aug 7, 1989	Terrebonne S & L Assoc.	Houma, LA	$26.6M	St. Mary B&TC
Aug 7, 1989	First City Federal S & L	Baton Rouge, LA	$22.2M	Equitable Trust S&LA
Aug 4, 1989	Park Forty-Five National Bank	Spring, TX	$22.0M	Klein Bank
Aug 3, 1989	First Bank and Trust Company	Yale, OK	$28.5M	Mannford State Bank
Aug 3, 1989	University National Bank	San Antonio, TX	$19.8M	The Frost National Bank of
Aug 3, 1989	Barnard State Bank	Barnard, KS	$5.0M	Saline Valley Bank
Aug 1, 1989	Caprock Federal Savings & Loan	Lubbock, TX	$436.1M	Deposit payout
Jul 28, 1989	Empire State Bank	New York, NY	$30.2M	—
Jul 27, 1989	Capitol City Federal Savings	Austin, TX	$528.2M	Banc One TX, N.A.
Jul 27, 1989	New Guaranty Fed. S & L Assoc.	Taylor, MI	$212.5M	National Bank of Detroit
Jul 27, 1989	Hallmark S & L Association	Plano, TX	$166.1M	Deposit payout
Jul 27, 1989	North American FSA	San Antonio, TX	$99.8M	Deposit payout
Jul 27, 1989	Capitol Federal S & L	Little Rock, AR	$89.9M	Branch sale
Jul 27, 1989	New Braunfels S & La Assoc.	New Braunfels, TX	$85.6M	Victoria B&TC-West
Jul 27, 1989	Commercial S & La Assoc.	Hammond, LA	$74.2M	Deposit payout
Jul 27, 1989	Forestwood National Bank of Dallas	Dallas, TX	$62.0M	Comerica Bank-Texas
Jul 27, 1989	FSA of the Southwest	Kilgore, TX	$45.8M	Kilgore FS&LA
Jul 27, 1989	The Texas Bank & Trust Company	Sweetwater, TX	$33.7M	First National Bank, Sweetw
Jul 27, 1989	Lafayette S & L Assoc.	Gretna, LA	$29.1M	Algiers Homestead Associati
Jul 27, 1989	Brushy Creek National Bank	Round Rock, TX	$9.8M	Union National Bank, Austin
Jul 26, 1989	Hildalgo County Bank	Mercedes, TX	$18.9M	The First National Bank of
Jul 21, 1989	Fidelity Bank	Scottsdale, AZ	$11.2M	The Bank of Fountain Hills
Jul 20, 1989	Texas American Bank/Fort Worth,	Fort Worth, TX	$1.97B	Texas American Bridge Bank

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
Sep 23, 1989	Bank of Pleasanton	KS	The Farmers State Bank of Blue Mound
Sep 20, 1989	Winter Garden Credit Union	TX	Gulf Coast Federal Credit Union
Sep 16, 1989	Marquette Bank University, National Association	MN	Marquette Bank Minneapolis, National Association
Sep 16, 1989	First Bank Cottage Grove National Association	MN	U.S. Bank National Association
Sep 16, 1989	Marquette Bank Columbia Heights	MN	Marquette Bank Minneapolis, National Association
Sep 16, 1989	First Bank and Trust Company	GA	Wachovia Bank of Georgia, National Association
Sep 16, 1989	Marquette Bank Lake	MN	Marquette Bank Minneapolis, National Association
Sep 15, 1989	Southern California Free Methodist Credit Union	CA	Adelfi Credit Union
Sep 15, 1989	Bank of Long Island	NY	The Bank of New York Mellon
Sep 15, 1989	Bridgeport Progressive Federal Credit Union	CT	McKesson Federal Credit Union
Sep 13, 1989	Lion Wilkes Barre Federal Credit Union	PA	Choice One Community Federal Credit Union
Sep 11, 1989	First Federal Savings and Loan Association of Montclair	NJ	Penn Federal Savings Bank
Sep 9, 1989	Society Bank of Eastern Ohio, National Association	OH	KeyBank N.A.
Sep 9, 1989	Saint Gregory Federal Credit Union	VA	Abnb Federal Credit Union
Sep 9, 1989	Mercantile Bancorp, Inc.	OK	First Fidelity Bancorp, Inc.
Sep 9, 1989	Touro Employees Federal Credit Union	LA	Onpath Federal Credit Union
Sep 9, 1989	Mercantile Bank, N.A.	OK	First Fidelity Bank
Sep 4, 1989	Magna Bank of Freeburg	IL	Magna Bank, National Association
Sep 3, 1989	Magna Bank of Mascoutah	IL	Magna Bank, National Association
Sep 3, 1989	Magna Bank of Marissa	IL	Magna Bank, National Association
Sep 2, 1989	Eastex Bancshares, Inc.	TX	Ubank Holdings, Inc.
Sep 1, 1989	Wabash General Hospital Federal Credit Union	IL	Louisville Medical Center Federal Credit Union
Sep 1, 1989	Plateau Cu	TN	Upper Cumberland Federal Credit Union
Sep 1, 1989	FN Bancorp	IN	Fort Wayne National Corporation
Sep 1, 1989	St. Joseph Bancorp, Inc.	IL	First Busey Corporation
Sep 1, 1989	Consolidated Banc Shares	WV	CB&T Financial Corp
Sep 1, 1989	Exchange Holding, Inc.	KS	Fourth Financial Corporation
Sep 1, 1989	American Heritage Bancshares, Inc.	MI	Manufacturers National Corporation
Sep 1, 1989	Arcom Credit Union	IL	Sherwin Williams Employees Credit Union
Sep 1, 1989	The Lowndes Bank	WV	Community Bank & Trust
Sep 1, 1989	The Mountain National Bank of Clifton Forge	VA	Crestar Bank
Sep 1, 1989	Saint Gregory the Great Parish Credit Union	OH	Saints Margaret & Gregory Federal Credit Union
Sep 1, 1989	Scarsdale National Bank and Trust Company	NY	The Bank of New York Mellon
Sep 1, 1989	Texas National Guard Credit Union	TX	United Heritage Credit Union
Sep 1, 1989	Hayward Regional Federal Credit Union	CT	Waypoint Federal Credit Union
Sep 1, 1989	(unnamed)	—	Boatmen's National Bank of Cape Girardeau
Sep 1, 1989	First of America Bank - Ludington, National Association	MI	First of America Bank-Muskegon
Sep 1, 1989	Valley National Bank	MN	The Midway National Bank of St. Paul
Sep 1, 1989	Galveston News Employee Federal Credit Union	TX	Primeway Federal Credit Union
Sep 1, 1989	J.H.S. Employees Credit Union	TN	Resource Federal Credit Union
Sep 1, 1989	Digital Communications Corporation Employees Federal Credit Union	MD	Kinecta Federal Credit Union
Sep 1, 1989	Heylpat Federal Credit Union	PA	Tri-Valley Services Federal Credit Union
Sep 1, 1989	First Federal Savings and Loan Association	MS	Magnolia Federal Bank for Savings
Sep 1, 1989	Newman-Crosby Employees Credit Union	RI	COASTAL1 Credit Union
Sep 1, 1989	(unnamed)	—	First Interstate Bank of California
Aug 31, 1989	Saint Cyril and Saint Francis Xaviers Parishes Federal Credit Union	PA	Little Giant Federal Credit Union
Aug 29, 1989	CBI Insurance Services Inc	WI	Valley Bank
Aug 29, 1989	Midamerican Corporation	KS	Midamerican Corporation
Aug 29, 1989	(unnamed)	—	The Seymour National Bank
Aug 28, 1989	The First National Bank of Ripley	WV	United Bank

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	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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