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
Aug 26, 1989	Magna Bank of New Holland	IL	Magna Bank of Lincoln
Aug 26, 1989	Citizens Bancorporation	WA	Frontier Financial Corporation
Aug 26, 1989	Citizens Bank of Snohomish County	WA	Frontier Bank
Aug 25, 1989	H.E.R.E. Local 274 Federal Credit Union	PA	Philadelphia Federal Credit Union
Aug 25, 1989	Etcor Federal Credit Union	PA	Heights Community Federal Credit Union
Aug 25, 1989	Geesi Federal Credit Union	PA	Lebanon Federal Credit Union
Aug 24, 1989	Vipol Federal Credit Union	NJ	Bay Atlantic Federal Credit Union
Aug 24, 1989	Whitestown Federal Credit Union	NY	G.P.O. Federal Credit Union
Aug 22, 1989	Teeds Grove Savings Bank	IA	Community Bank
Aug 21, 1989	New Haven Merchant's Bank	CT	The Bank of New Haven
Aug 19, 1989	State Bank of Syracuse	IN	(unnamed)
Aug 18, 1989	Nanuet National Bank	NY	The Bank of New York Mellon
Aug 18, 1989	Ultra Bancorporation	NJ	National Westminster Bancorp NJ
Aug 18, 1989	Bank of New England-Essex	MA	Bank of New England-North, National Association
Aug 18, 1989	Colona Avenue State Bank	IL	Metrobank, National Association
Aug 18, 1989	GT/S and S Employees Federal Credit Union	IL	Meadows Credit Union
Aug 15, 1989	Ladysmith Corporation	MN	Pioneer Acquisition Corp.
Aug 15, 1989	First Healthcare Credit Union	IL	Illinois State Police Federal Credit Union
Aug 11, 1989	First Bristol County National Bank	MA	Fleet National Bank of Massachusetts
Aug 10, 1989	Western Union Employees Credit Union	IL	Vicinity Credit Union
Aug 10, 1989	First Federal Savings and Loan Association of Akron	OH	Charter One Bank, National Association
Aug 10, 1989	Western Reserve Savings Bank	OH	Charter One Bank, National Association
Aug 9, 1989	Post-Telegram Employees Federal Credit Union	CT	Bridgeport Hospital Federal Credit Union
Aug 9, 1989	Usl Battery Employees Federal Credit Union	NY	Niagara's Choice Federal Credit Union
Aug 9, 1989	Buena Vista Savings & Industrial Bank	CO	Peoples National Bank
Aug 8, 1989	Progresso Federal Credit Union	NJ	Bay Atlantic Federal Credit Union
Aug 8, 1989	Schuyler Hospital Employees Federal Credit Union	NY	Finger Lakes Health Care Federal Credit Union
Aug 7, 1989	Olde Rheims Federal Credit Union	NY	Servu Federal Credit Union
Aug 7, 1989	Atlantic Coast 66 Credit Union	NC	Truity Federal Credit Union
Aug 5, 1989	Arlington Banc Corporation	IN	P.T.C. Bancorp
Aug 4, 1989	Fedstar Savings Bank, Federal Savings Bank	VA	Household Bank, F.S.B.
Aug 4, 1989	Commerce Bank of Kirksville National Association	MO	First National Bank of Kirksville
Aug 4, 1989	Dutchess Bank and Trust Company	NY	The Bank of New York Mellon
Aug 3, 1989	Bank of Harwood	MO	Tri-County State Bank of Eldorado Springs
Aug 2, 1989	Beverly Building & Loan Association	NJ	Peoples Savings Bank
Aug 2, 1989	Kenmare Community Credit Union	ND	Town & Country Credit Union
Aug 1, 1989	UnibancTrust/Hawthorne	IL	Old Kent Bank
Aug 1, 1989	Illinois Regional Mortgage Corporation	IL	Old Kent-Illinois, Inc.
Aug 1, 1989	Warn-Belleview Employees Federal Credit Union	OR	United Trades Federal Credit Union
Aug 1, 1989	First Nebraska Bank	NE	First Nebraska Bank
Aug 1, 1989	I P I Federal Credit Union	IN	Indiana Members Credit Union
Aug 1, 1989	Robertson Paper Box Employees Credit Union	CT	Connecticut Community Credit Union, Inc.
Aug 1, 1989	Saint Therese New Bedford Federal Credit Union	MA	First Citizens Federal Credit Union
Aug 1, 1989	Bank of Paradise	CA	Wells Fargo Bank, N.A.
Aug 1, 1989	Visitation Credit Union, Inc.	OH	Trupartner Credit Union, Inc.
Aug 1, 1989	Operators Inc Fcu	LA	Cusa Federal Credit Union
Aug 1, 1989	California Hardware Company Employees Federal Credit Union	CA	Credit Union of Southern California, a Federal Credit Union
Aug 1, 1989	Placer County Employees Credit Union	CA	The Golden 1 Credit Union
Aug 1, 1989	Cumberland Corp Empl Cu	TN	Comtrust Federal Credit Union
Aug 1, 1989	Community National Bank	FL	Orange Bank

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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