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
Jun 29, 1989	New Ulm State Bank	New Ulm, TX	$12.0M	Industry State Bank
Jun 29, 1989	Hobby Community Bank	Houston, TX	$8.0M	Iola State Bank
Jun 22, 1989	Great Southern Federal Savings	Savannah, GA	$880.2M	First Wachovia
Jun 22, 1989	Habersham Federal Sa	Cornelia, GA	$93.3M	First Commerce Bank
Jun 22, 1989	First Fed. S & L Assoc.	Americus, GA	$54.4M	Sumter Bank & Trust
Jun 22, 1989	Preston North National Bank	Dallas, TX	$6.5M	Sequor National Bank Texas
Jun 21, 1989	Guardian Bank, N.A.	Hempstead, NY	$409.4M	—
Jun 15, 1989	Helotes State Bank	Helotes, TX	$21.3M	Bank of Leon Springs
Jun 15, 1989	Capital Bank-Northwest, National	San Antonio, TX	$16.0M	McMullen County State Bank
Jun 15, 1989	Northern Bank & Trust	Fort Collins, CO	$6.9M	Union Colony Bank
Jun 14, 1989	Western Savings & Loan	Phoenix, AZ	$5.65B	Bank of America, Az
Jun 14, 1989	Sun State Savings & Loan	Phoenix, AZ	$1.05B	Bank of America, Az
Jun 9, 1989	Treasure State Bank	Glasgow, MT	$14.6M	Valley Bank of Glasgow
Jun 8, 1989	Horizon Financial, F.A.	Southampton, PA	$2.49B	Branch sale
Jun 8, 1989	Civic Savings Bank	Portsmouth, OH	$98.7M	Branch sale
Jun 8, 1989	First American Bank	San Antonio, TX	$13.3M	Jourdanton State Bank
Jun 8, 1989	Fulshear State Bank	Fulshear, TX	$10.7M	—
Jun 8, 1989	Lake Country National Bank	Burnet, TX	$7.5M	Lake Buchanan State Bank
May 31, 1989	The First State Bank	Forgan, OK	$11.7M	The Bank of Beaver City
May 25, 1989	Liberty National Bank	Dallas, TX	$67.5M	Cornerstone Bank, National
May 24, 1989	Commerce and Energy Bank	Lafayette, LA	$29.5M	Midsouth National Bank
May 24, 1989	First Eastern Bank & Trust Company	New Orleans, LA	$29.4M	Peoples Bank & Trust Compan
May 24, 1989	Bank of Aurora	Aurora, CO	$6.9M	—
May 19, 1989	Grand Canyon State Bank	Scottsdale, AZ	$14.6M	Bank of Fountain Hills
May 18, 1989	Security Bank & Trust Company	Wharton, TX	$34.8M	The First National Bank of
May 18, 1989	First National Bank at Oswego	Oswego, KS	$24.0M	Parsons Commercial Bank
May 18, 1989	The First National Bank of Gordon	Gordon, TX	$10.9M	The First National Bank of
May 18, 1989	The Bank of Edmond, National Assoc	Edmond, OK	$8.1M	First Interstate of Oklahom
May 12, 1989	Lewis County Savings and Loan Co	Weston, WV	$4.0M	Community Bank & Trust, Nat
May 11, 1989	Lexington State Bank	Lexington, TX	$13.8M	Central Bank of Houston
May 4, 1989	Katy National Bank	Katy, TX	$52.0M	First Bank
May 4, 1989	First National Bank of East Baton Rouge	Baton Rouge, LA	$28.3M	The First National Bank in
May 4, 1989	Greater Texas Bank Leander	Leander, TX	$20.6M	Hill Country Bank
Apr 27, 1989	Southwest Federal Savings Assoc.	Los Angeles, CA	$896.8M	Bank of America, N.A.
Apr 27, 1989	Westco Savings Bank, FSB	Wilmington, CA	$188.3M	Frontier Bank, N.A.
Apr 27, 1989	Metropolitan Fed. S & L Assoc.	Denville, NJ	$168.2M	Collective FSB
Apr 27, 1989	Seabank Fed. Savings Bank	Myrtle Beach, SC	$35.4M	First Citizens B&TC of SC
Apr 27, 1989	Bank of Lakewood, National Assoc	Lakewood, CO	$9.7M	Bank of Lakewood
Apr 27, 1989	Seminole National Bank	Hollywood, FL	$6.6M	Family Bank of Hallandale
Apr 21, 1989	Alliance Bank	Anchorage, AK	$779.0M	National Bank of Alaska
Apr 20, 1989	Travis Bank and Trust	Austin, TX	$53.9M	Union National Bank of Texa
Apr 20, 1989	Continental National Bank	San Antonio, TX	$12.2M	Citizens State Bank of Luli
Apr 20, 1989	First State Bank	Deanville, TX	$9.4M	Citizens State Bank
Apr 14, 1989	Lincoln Savings & Loan	Irvine, CA	$4.86B	Great Western Bank, FSB
Apr 13, 1989	Allied Oklahoma Bank, National Assoc	Oklahoma City, OK	$58.3M	Central Bank of Oklahoma Ci
Apr 12, 1989	The Commonwealth Bank	Bellaire, TX	$65.8M	Park National Bank of Houst
Apr 6, 1989	American FS & La of Colorado	Colorado Springs, CO	$720.4M	World S&LA
Apr 6, 1989	Resource Sa	Denison, TX	$616.1M	Deposit payout
Apr 6, 1989	Independence S & L Assoc.	Vallejo, CA	$440.0M	Bay View FS&LA
Apr 6, 1989	First Fed. S & L of Southeast Mo.	Cape Girardeau, MO	$385.1M	Cape CTY Bank of Cape Girar

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
Jul 1, 1989	Alpena Catholic Credit Union	MI	Thunder Bay Area Credit Union
Jul 1, 1989	Eltra Die Cast Federal Credit Union	IL	McHenry County Federal Credit Union
Jul 1, 1989	Galaxy Carpet Mills Fcu	GA	Comtrust Federal Credit Union
Jul 1, 1989	The Amsterdam State Bank	OH	Unibank
Jul 1, 1989	Termaco Credit Union	NC	Carolina Cooperative Federal Credit Union
Jul 1, 1989	West Grand River Community Credit Union	MI	Route 31 Federal Credit Union
Jul 1, 1989	Ymca Federal Credit Union	RI	Coastway Community Bank
Jul 1, 1989	Shannon Credit Union	TX	Qualtrust Credit Union
Jul 1, 1989	Kanawha Union Bank	WV	United National Bank - Central
Jul 1, 1989	Lincolnway State Bank	IL	First Bank South
Jul 1, 1989	Hoechst Celanese Employees Federal Credit Union	VA	Sharonview Federal Credit Union
Jul 1, 1989	DH Holmes Federal Credit Union	LA	Onpath Federal Credit Union
Jul 1, 1989	Wabash Sylvania Employees Federal Credit Union	PA	Palco Federal Credit Union
Jul 1, 1989	Bank One, Clintonville, National Association	WI	First State Bank
Jul 1, 1989	Midlantic National Bank/South	NJ	(unnamed)
Jul 1, 1989	Ed Med Credit Union	NC	Summit Credit Union
Jul 1, 1989	Fort Carson National Bank	CO	Armed Forces Bank, N.A.
Jul 1, 1989	Temporaries Federal Credit Union	DC	Infirst Federal Credit Union
Jul 1, 1989	The Peoples State Bank of Caro, Michigan	MI	Chemical Bank Bay Area
Jul 1, 1989	The Cass City State Bank	MI	Chemical Bank Bay Area
Jul 1, 1989	Sears Atlanta Empl Fcu	GA	LGE Community Credit Union
Jul 1, 1989	Elk National Bank	WV	United Bank
Jul 1, 1989	Billings Conoco Credit Union	MT	Valley Financial Credit Union
Jul 1, 1989	Southpark National Bank of The Quad Cities	IL	First of America Bank-Quad Cities, National Association
Jul 1, 1989	Ohio Valley National Bank of Vienna	WV	United Bank
Jul 1, 1989	The First National Bank of Jessup	PA	First Liberty Bank & Trust
Jul 1, 1989	First South Bank	GA	Century South Bank of Central Georgia, National Association
Jul 1, 1989	First of America Bank-Mid-Michigan	MI	First of America Bank - Mid Michigan, National Association
Jul 1, 1989	Midlantic National Bank/Merchants	NJ	(unnamed)
Jul 1, 1989	Eggers Employees Credit Union	WI	Riverwood-Maritime Credit Union
Jul 1, 1989	Huron County Bank	MI	Chemical Bank Bay Area
Jul 1, 1989	Webster County National Bank	WV	United National Bank - Central
Jul 1, 1989	St. Peter and Paul Parish Credit Union	MO	1st City Credit Union
Jul 1, 1989	Eis Employees Credit Union	CT	Dutch Point Credit Union
Jul 1, 1989	Ocean Products Fcu	FL	Trax Federal Credit Union
Jul 1, 1989	Ideal Credit Union	WV	West Virginia Central Federal Credit Union
Jul 1, 1989	Mount Carroll National Bank	IL	First Bank North
Jul 1, 1989	Wood River Hospital Credit Union	IL	Midwest Members Credit Union
Jul 1, 1989	Illinois Central East St. Louis Credit Union	IL	Midwest Members Credit Union
Jul 1, 1989	First National Bank of Freeport	IL	First Bank North
Jul 1, 1989	Brownbilt Credit Union	MO	First Missouri Credit Union
Jul 1, 1989	The Polo National Bank	IL	First Bank South
Jul 1, 1989	First National Bank of Morton	IL	First of America Bank-Illinois, National Association
Jul 1, 1989	Key Atlantic Bancorp	NY	KeyCorp
Jul 1, 1989	Granite Bank	NH	Granite Bank, National Association
Jul 1, 1989	Danco, Inc.	IA	Valley Bancshares, Inc.
Jul 1, 1989	Lee County Bancorp., Inc.	IA	Lee Capital Corp.
Jul 1, 1989	Humboldt Investment Corp.	IA	Bank Iowa Corporation
Jul 1, 1989	Sullivan Community Credit Union	MO	South Community Credit Union
Jul 1, 1989	Brenton Ins. Ag of Eagle Grove Inc	IA	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	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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