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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
Aug 1, 1989 Farmers State Bank of Benson IL Commerce Bank of Woodford County, National Association
Aug 1, 1989 First of America Bank-Grand Traverse, National Association MI First of America Bank - Northern Michigan
Aug 1, 1989 Farmers Co-Op Elevator Credit Union IA MEMBERS1ST Community Credit Union
Aug 1, 1989 The First National Bank of Barnesville MN American Bank Moorhead
Aug 1, 1989 The Liberty State Bank of Tahlequah, Oklahoma OK BancFirst
Aug 1, 1989 United Specialties Employees Credit Union IL Sherwin Williams Employees Credit Union
Aug 1, 1989 Niagara Federal Credit Union PA Erie Times Employees Federal Credit Union
Aug 1, 1989 North Chicago Federal Savings and Loan Association IL M & I Bank N.A.
Aug 1, 1989 State Bank of Merna NE Nebraska State Bank and Trust Company
Aug 1, 1989 Randolph Co-operative Bank MA The Co-operative Bank of Concord
Aug 1, 1989 Wyatt Employees Federal Credit Union CT Science Park Federal Credit Union
Aug 1, 1989 Spokane Grange Credit Union WA Spokane Teachers Credit Union
Jul 31, 1989 (unnamed) — The First National Bank of Southeastern Ohio
Jul 31, 1989 Tribune Credit Union WA Sound Credit Union
Jul 31, 1989 Manchester Credit Union WI Dane County Credit Union
Jul 29, 1989 Severy State Bank KS Home Bank and Trust Company
Jul 28, 1989 San Pedro Bank TX Norwest Bank Texas, South, National Association
Jul 24, 1989 B.H.C. Federal Credit Union PA Philadelphia Federal Credit Union
Jul 24, 1989 Plainville Federal Credit Union MA Arise Federal Credit Union
Jul 24, 1989 The First National Bank of Abbeville LA First Commercial Bank, Franklin, Louisiana
Jul 21, 1989 The Lowry City Bank MO St. Clair County State Bank
Jul 21, 1989 Cardinal Bancshares, Inc. KY Cardinal Bancshares, Inc.
Jul 21, 1989 III County Federal Credit Union MO Infuze Federal Credit Union
Jul 21, 1989 United Community Bank *Pawnee* IL United Community Bank
Jul 18, 1989 Lyman Savings and Loan Association PA Parkvale Savings Bank
Jul 17, 1989 G B C Employees Credit Union IL Meadows Credit Union
Jul 17, 1989 Parkchester Federal Credit Union NY Nea Federal Credit Union
Jul 17, 1989 First State Bank SD Pioneer Bank & Trust
Jul 15, 1989 Sovran Bank/Marshall County, National Association TN NationsBank of Tennessee, National Association
Jul 15, 1989 Key City Bank and Trust Company IA Dubuque Bank and Trust Company
Jul 15, 1989 West Side Bank PA Hanover Bank
Jul 13, 1989 South Arkansas Federal Credit Union AR Carter Federal Credit Union
Jul 12, 1989 Heartland Federal Credit Union MN Mid Minnesota Federal Credit Union
Jul 11, 1989 Superior Fireproof Door Employees Federal Credit Union PA First Credit Union of Scranton
Jul 11, 1989 T of NH Federal Credit Union NY Port Washington Federal Credit Union
Jul 8, 1989 Sharon Savings Bank Federal Savings Bank MD Household Bank, F.S.B.
Jul 8, 1989 First State Bank IL Warren-Boynton State Bank
Jul 8, 1989 Commerce Bank of Hutchinson N.A. KS Emprise Bank, National Association
Jul 7, 1989 State Employee Credit Union TX Capitol Credit Union
Jul 5, 1989 Craftsman Credit Union MA Webster First Federal Credit Union
Jul 5, 1989 First Security Bancorp WA West One Bancorp, Washington
Jul 3, 1989 University Credit Union VA Virginia Federal Credit Union
Jul 3, 1989 Glenmore Permanent Building and Loan Association MD The Columbia Bank
Jul 3, 1989 Wellsville Community Federal Credit Union NY Alco Federal Credit Union
Jul 1, 1989 Cherokee Federal Credit Union NC Mountain Credit Union
Jul 1, 1989 Lafayette Indiana School Employees Federal Credit Union IN Purdue Federal Credit Union
Jul 1, 1989 Simpson Albany Employees Federal Credit Union OR 44 North Credit Union
Jul 1, 1989 Coca-Cola Bottling Company Credit Union NC Telco Community Credit Union
Jul 1, 1989 First United Bank MS OmniBank
Jul 1, 1989 Cgemc Empl Cu GA Go Energy Financial 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 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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