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
Apr 6, 1989	Central Texas S & La	Waco, TX	$216.1M	Kilgore FS&LA
Apr 6, 1989	Heritage Banc Savings	Duncanville, TX	$177.7M	NCNB Texas National Bank
Apr 6, 1989	Financial Federal Sa	Joplin, MO	$161.4M	Farm & Home Sa
Apr 6, 1989	First California Savings	Orange, CA	$161.4M	First American Bank
Apr 6, 1989	Excel Banc Savings Assoc.	Laredo, TX	$146.7M	Deposit payout
Apr 6, 1989	Founders Federal S & L	Los Angeles, CA	$134.7M	Founders NB of Los Angeles
Apr 6, 1989	Fidelity FSB	Corinth, MS	$116.4M	Southbank, a FSB
Apr 6, 1989	Centennial Savings Bank	Greenville, TX	$106.0M	NCNB Texas National Bank
Apr 6, 1989	Libertyville Fed. S & L Assoc.	Libertyville, IL	$101.0M	Harris Bank Libertyville
Apr 6, 1989	Bedford Savings Assoc.	Bedford, TX	$90.8M	First American Savings Banc
Apr 6, 1989	Gateway Federal Savings Bank	Oakland, CA	$72.7M	Gateway Bank, FSB
Apr 6, 1989	Cabrillo Federal Savings Bank	San Jose, CA	$71.8M	Financial Center Bank, N.A.
Apr 6, 1989	Washington S & L Assoc.	Stockton, CA	$66.7M	Security Pacific NB, N.A.
Apr 6, 1989	Sioux Valley S & La	Cherokee, IA	$61.8M	Deposit payout
Apr 6, 1989	First FS & La of Estherville	Estherville, IA	$60.6M	Branch sale
Apr 6, 1989	Arrowhead Pacific Federal Savings	San Bernardino, CA	$60.2M	Deposit payout
Apr 6, 1989	First Fed. Savings Bank	East Alton, IL	$55.6M	Illinois State B&T
Apr 6, 1989	First of Kansas Savings	Hays, KS	$53.9M	First NB&T
Apr 6, 1989	Cass FS & La of St. Louis	Florissant, MO	$52.4M	First Exchange Bank
Apr 6, 1989	Central S & L Assoc.	Jackson, MS	$52.1M	Bank of Forest
Apr 6, 1989	Meridian Saving Association	Arlington, TX	$48.9M	NCNB Texas National Bank
Apr 6, 1989	St. Tammany National Bank	Mandeville, LA	$47.1M	Whitney National Bank in St
Apr 6, 1989	Republic Bank for Savings	Jackson, MS	$43.4M	Southbank, a FSB
Apr 6, 1989	Park Cities Savings Association	Dallas, TX	$43.1M	Comerica Bank-TX
Apr 6, 1989	Unified Savings FS & La	Northridge, CA	$35.1M	Deposit payout
Apr 6, 1989	Royal Oak S & L Assoc.	Manteca, CA	$34.4M	Bank of Stockton
Apr 6, 1989	American Federal Savings Bank	Austin, TX	$33.5M	NCNB Texas National Bank
Apr 6, 1989	City S & L Assoc.	Westlake Village, CA	$33.3M	Olympia NB
Apr 6, 1989	First National Bank of Nocona	Nocona, TX	$23.3M	The First National Bank of
Apr 6, 1989	Golden Circle Sa	Corsicana, TX	$20.5M	Deposit payout
Apr 6, 1989	City Federal S & L Assoc.	Oakland, CA	$20.3M	Mission NB
Apr 6, 1989	Perpetual Savings Association	Santa Ana, CA	$18.7M	Bank of Industry
Apr 6, 1989	Delta FS & La	Drew, MS	$10.3M	Delta Bank & Trust
Apr 6, 1989	State Mutual Fed. S & L Assoc.	Jackson, MS	$8.7M	First Commerce SB
Apr 6, 1989	Equity Federal Savings Bank	Denver, CO	$4.5M	Deposit payout
Apr 5, 1989	Murray Savings Association	Dallas, TX	$1.44B	United Sa of the SW, FSB
Mar 31, 1989	Gibraltar Savings, F.A.	Simi Valley, CA	$13.38B	Security Pacific NB, N.A.
Mar 31, 1989	Gibraltar Savings Bank, FSB	Seattle, WA	$1.68B	Branch sale
Mar 31, 1989	First Service Bank for Savings	Leominster, MA	$880.7M	Peoples Savings Bank
Mar 31, 1989	Premier Bank, a N.A.	Dallas, TX	$37.1M	Deposit Guaranty Bank
Mar 31, 1989	Interstate Bank of Commerce	Miami, FL	$6.4M	—
Mar 30, 1989	Broadview Savings Bank	Cleveland, OH	$1.78B	First FSB
Mar 30, 1989	City FS & La	Birmingham, AL	$712.0M	First Alabama Bank
Mar 30, 1989	Heritage FS & La	Monroe, NC	$311.7M	First Citizens B&TC
Mar 30, 1989	Midland Buckeye Savings	Alliance, OH	$218.8M	Citizens Banking Co.
Mar 30, 1989	Baldwin County Fed. Savings Bank	Robertsdale, AL	$171.5M	First Alabama Bank
Mar 30, 1989	Great Atlantic Savings Bank	Manteo, NC	$126.8M	NCNB NB of NC
Mar 30, 1989	Durand FS & La	Durand, WI	$106.6M	Branch sale
Mar 30, 1989	Harvard Bank	Tulsa, OK	$23.1M	Southern National Bank
Mar 30, 1989	Community Fed. S & L Assoc.	Newport News, VA	$9.4M	Consolidated B&TC

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

Or jump to a category: Failures · Mergers · Enforcement · Assistance