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
Oct 1, 1989	Texas Eastern Credit Union	TX	Membersource Credit Union
Oct 1, 1989	The First National Bank of Hancock	NY	NBT Bank, N.A.
Oct 1, 1989	The Fulton County National Bank and Trust Company	NY	NBT Bank, N.A.
Oct 1, 1989	Steel Lec Federal Credit Union	PA	Tri-Valley Services Federal Credit Union
Oct 1, 1989	Pearl River Public Empl Cu	MS	Credit Union South
Oct 1, 1989	University & State Employees Credit Union of Santa Barbara	CA	The Golden 1 Credit Union
Oct 1, 1989	MetroBanc, National Association	MI	Comerica Bank National Association
Oct 1, 1989	(unnamed)	—	Fleet Bank-NH
Oct 1, 1989	Comerica Bank-Grand Rapids, National Association	MI	Comerica Bank National Association
Oct 1, 1989	Indian Head National Bank of Keene	NH	Fleet Bank-NH
Oct 1, 1989	First State Bank of McLaughlin	SD	First National Bank
Oct 1, 1989	Western District Credit Union	UT	Eastern Utah Community Credit Union
Oct 1, 1989	Sacramento Columbian Credit Union	CA	S a F E Credit Union
Oct 1, 1989	The Bank of Lake Placid	NY	NBT Bank, N.A.
Oct 1, 1989	Sheet Metal Workers Credit Union	MN	SMW Financial Credit Union
Oct 1, 1989	AmeriBank of Oldsmar	FL	Ameribank
Oct 1, 1989	Allegheny JWV Federal Credit Union	PA	Tri Boro Federal Credit Union
Oct 1, 1989	Dartmouth National Bank	NH	Fleet Bank-NH
Oct 1, 1989	Band Instrument Federal Credit Union	IN	Inova Federal Credit Union
Oct 1, 1989	Indian Head Bank North	NH	Fleet Bank-NH
Oct 1, 1989	Hyde Park Cooperative Federal Credit Union	IL	Vicinity Credit Union
Oct 1, 1989	Gas Light Federal Credit Union	IN	Sterling United Federal Credit Union
Oct 1, 1989	Hayes National Bank	NY	NBT Bank, N.A.
Oct 1, 1989	Rising Sun State Bank	IN	The Madison Bank and Trust Company
Oct 1, 1989	MVC Cu	MS	MSTC Federal Credit Union
Oct 1, 1989	Teamsters Local 830 Federal Credit Union	PA	Sun East Federal Credit Union
Oct 1, 1989	Sunnyside Financial Community Credit Union	WI	Southern Lakes Credit Union
Sep 30, 1989	The Citizens National Bank of Bedford	IN	NBD Bank, National Association
Sep 30, 1989	Credit Union 1 of Salina	KS	Great Plains Federal Credit Union
Sep 30, 1989	Community First Minnesota Bankshares, Inc.	ND	Community First Bankshares, Inc.
Sep 30, 1989	S B H Corp.	IL	Pinnacle Banc Group, Inc.
Sep 30, 1989	Citizens Bancshares Corporation	IN	INB Financial Corporation
Sep 30, 1989	Florida Community Banks, Inc.	FL	Southtrust of Northwest Florida, Inc.
Sep 30, 1989	Florida Central Banks, Inc.	FL	Southtrust of Northwest Florida, Inc.
Sep 30, 1989	C.R.N.B.SHARES, Inc.	WV	First Community Bancshares Inc
Sep 30, 1989	Cherry River National Bank of Richwood	WV	(unnamed)
Sep 30, 1989	CSL Savings Bank	OH	Diamond Savings and Loan Company
Sep 30, 1989	Sanese Credit Union, Inc.	OH	Wright-Patt Credit Union, Inc.
Sep 30, 1989	P F W Federal Credit Union	CA	San Diego County Credit Union
Sep 30, 1989	Shorter A.M.E. Federal Credit Union	CO	Space Age Credit Union
Sep 30, 1989	Pioneer Bancorporation, Inc.	CO	United Banks of Colorado Inc.
Sep 30, 1989	Bank of Washington County	FL	sSouthTrust Bank of Northwest Florida
Sep 30, 1989	First Bank of Holmes County	FL	sSouthTrust Bank of Northwest Florida
Sep 29, 1989	United Data Services Incorporated	PA	Integra Financial Corporation
Sep 29, 1989	Comanche Bancshares, Inc.	KS	Gold Banc Corporation, Inc.
Sep 29, 1989	Globe Financial Services, Inc.	MA	Capitol Bank and Trust Company
Sep 29, 1989	Oketo Banc Shares, Inc.	KS	Gold Banc Corporation, Inc.
Sep 27, 1989	Williston Realty Company	ND	American State Bank & Trust Company of Williston
Sep 27, 1989	Local 73 Credit Union	IL	Vicinity Credit Union
Sep 23, 1989	Davis County Bank	UT	Wells Fargo Trust Company, N.A.

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

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