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
Mar 16, 1989	River City Federal Savings	Baton Rouge, LA	$61.2M	Hibernia NB
Mar 16, 1989	Timberland FSA	Nacogdoches, TX	$60.3M	Citizens Bank
Mar 16, 1989	Liberty Federal Savings	New Port Richey, FL	$60.1M	Citizens & Southern NB FL
Mar 16, 1989	First Venice S & La	Venice, FL	$58.6M	NBD Florida, FSB
Mar 16, 1989	Deep East Texas Sa	Jasper, TX	$53.6M	Community Bank
Mar 16, 1989	Chillicothe Fed. S & L Assoc.	Chillicothe, IL	$51.0M	Southside Trust & SB of Peo
Mar 16, 1989	First Sav. Assoc. Southeast Texas	Silsbee, TX	$48.7M	Kilgore FS&LA
Mar 16, 1989	Home FS & La of Centralia	Centralia, IL	$47.6M	Magna Bank of Centralia
Mar 16, 1989	Rusk Fed. S & L Assoc.	Rusk, TX	$44.6M	Citizens Bank
Mar 16, 1989	Sabine Valley S & L Assoc.	Center, TX	$41.1M	Deposit payout
Mar 16, 1989	First FS & La	Baton Rouge, LA	$39.5M	Life SB
Mar 16, 1989	Brickellbanc Savings Assoc.	Miami, FL	$38.8M	Helm Bank
Mar 16, 1989	Evangeline Federal Savings & Loan	Lafayette, LA	$37.4M	Hibernia NB
Mar 16, 1989	First Fed. S & La of Seminole	Seminole, OK	$33.3M	First NB&TC of Holdenville
Mar 16, 1989	Southeast Texas FSA	Woodville, TX	$31.2M	Deposit payout
Mar 16, 1989	Merchants Marine Bank	Port Isabel, TX	$30.8M	FirstBank
Mar 16, 1989	Family FS & La	Shreveport, LA	$27.6M	City B&T of Shreveport
Mar 16, 1989	Golden Triangle S & La	Bridge City, TX	$26.9M	Deposit payout
Mar 16, 1989	First Fed. S & L Assoc.	Eunice, LA	$23.5M	Guaranty Bank of Mamou
Mar 16, 1989	First Savings of America FS & La	Orland Park, IL	$23.5M	St. Paul FB for Savings
Mar 16, 1989	The Farmers & Merchants State Bank	Ballinger, TX	$22.5M	The First National Bank of
Mar 16, 1989	Peoples FS & La of Thibodaux	Thibodaux, LA	$19.6M	First Interstate BK of So.
Mar 16, 1989	Island Bank	South Padre Island, TX	$17.5M	FirstBank
Mar 16, 1989	Community Fed. S & L Assoc.	Tampa, FL	$10.3M	Deposit payout
Mar 16, 1989	The Farmers State Bank, Bogue	Bogue, KS	$8.0M	Farmers & Merchants Bank of
Mar 15, 1989	First South Sa	Houston, TX	$278.0M	Deposit payout
Mar 10, 1989	Bankers Trust of Louisiana, N.A.	Kenner, LA	$83.0M	Investors Bank & Trust Comp
Mar 9, 1989	Hill Financial Sa	Red Hill, PA	$3.00B	Meridian Financial Sa, F.A.
Mar 9, 1989	Benjamin Franklin Sa	Houston, TX	$2.64B	Banc One TX, N.A.
Mar 9, 1989	Commonwealth Savings Assoc.	Houston, TX	$1.65B	Branch sale
Mar 9, 1989	Bancplus Savings Association	Pasadena, TX	$751.5M	United Sa of TX, FSB
Mar 9, 1989	Otero S & L Assoc.	Colorado Springs, CO	$558.6M	Branch sale
Mar 9, 1989	First Fed. S & La of Colorado SPR.	Colorado Springs, CO	$354.9M	Western NB of CO
Mar 9, 1989	Continental Savings, a FS & La	Bellaire, TX	$354.6M	Branch sale
Mar 9, 1989	First Fed. S & L Assoc.	Atlanta, GA	$301.0M	Merchant Bank of Atlanta
Mar 9, 1989	Sun S & La	Parker, CO	$289.5M	Deposit payout
Mar 9, 1989	American S & La of Brazoria	Lake Jackson, TX	$281.3M	Deposit payout
Mar 9, 1989	Concord-Liberty Fed. S & L Assoc.	Monroeville, PA	$220.3M	Parkvale Sa
Mar 9, 1989	American FS & La	Albuquerque, NM	$188.9M	First NB in Albuquerque
Mar 9, 1989	Valley Federal Savings	Roswell, NM	$180.6M	Deposit payout
Mar 9, 1989	Ameriway Savings	Houston, TX	$176.5M	United Sa of the SW, FSB
Mar 9, 1989	Western Gulf Savings	Bay City, TX	$154.8M	Victoria B&TC
Mar 9, 1989	Phenix Fed. S & L Assoc.	Phenix City, AL	$150.3M	Branch sale
Mar 9, 1989	Universal Sa	Houston, TX	$142.1M	Channelview Bank
Mar 9, 1989	Germantown Trust Savings	Germantown, TN	$135.9M	NB of Commerce
Mar 9, 1989	Mesa FS & La of Colorado	Grand Junction, CO	$117.4M	Mesa NB
Mar 9, 1989	Peoples Savings Assoc.	St. Joseph, MI	$107.3M	Peoples SB
Mar 9, 1989	Bankers S & L Assoc.	Galveston, TX	$106.4M	NCNB Texas National Bank
Mar 9, 1989	Spring Branch S & La	Houston, TX	$99.9M	Coastal Banc Sa
Mar 9, 1989	Village Savings FSB	Houston, TX	$93.8M	NCNB Texas National 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
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

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