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 9, 1989	Trinity Valley Savings	Cleveland, TX	$91.9M	Hibernia NB, TX
Mar 9, 1989	Liberty Bell Savings Assoc.	Beaver Falls, PA	$90.3M	Reeves Bank
Mar 9, 1989	First Equity Sa	Tomball, TX	$87.1M	Kilgore FS&LA
Mar 9, 1989	Valley Federal S & L Assoc.	Grand Junction, CO	$83.8M	Mesa NB
Mar 9, 1989	Citizens of Texas S & L Assoc.	Baytown, TX	$76.4M	West Loop S&LA
Mar 9, 1989	Century Federal Savings Bank	Trenton, TN	$73.9M	Security Bank
Mar 9, 1989	Lincoln FS & La	Mt. Carmel, TN	$72.2M	Executive Park NB
Mar 9, 1989	First Capital Savings ASSOC./TEXAS	Houston, TX	$70.9M	NCNB Texas National Bank
Mar 9, 1989	Modern Fed. S & L Assoc.	Grand Junction, CO	$70.4M	Centennial SB
Mar 9, 1989	Sun Country SB of New Mexico	Albuquerque, NM	$66.5M	Deposit payout
Mar 9, 1989	Century Savings & Loan	Baytown, TX	$58.7M	NCNB Texas National Bank
Mar 9, 1989	Alpine Savings	Steamboat Springs, CO	$57.7M	Deposit payout
Mar 9, 1989	Colorado S & L Assoc.	Englewood, CO	$54.3M	Colorado SB, FSB of Grand C
Mar 9, 1989	Humble S & L Assoc.	Humble, TX	$50.3M	Hibernia NB, TX
Mar 9, 1989	Bank of the West	Austin, TX	$46.7M	The Bank of the West
Mar 9, 1989	Southeastern Savings Assoc.	Dayton, TX	$44.7M	Deposit payout
Mar 9, 1989	Liberty County FS & La	Liberty, TX	$43.8M	Bayshore NB
Mar 9, 1989	Bayshore Sa	Laporte, TX	$39.4M	BNB Sa, FSA
Mar 9, 1989	City Savings Assoc.	League City, TX	$33.8M	League City B&T
Mar 9, 1989	First Fed. S & L Assoc.	Summerville, GA	$32.8M	Interfederal SB
Mar 9, 1989	First Savings Bank of Alabama	Hamilton, AL	$26.0M	Southtrust Bank of Marion C
Mar 9, 1989	Rocky Mountain S & L Assoc.	Woodland Park, CO	$18.2M	Mountain NB
Mar 9, 1989	Lakeway National Bank	Austin, TX	$16.7M	First Commercial Bank, N.A.
Mar 9, 1989	Citizens Bank and Trust	Calvert, TX	$14.2M	First State Bank
Mar 9, 1989	United Guaranty Fed. Savings Bank	Tullahoma, TN	$11.5M	Franklin County Bank
Mar 2, 1989	San Antonio Savings	San Antonio, TX	$2.64B	First Gibraltar Bank, FSB
Mar 2, 1989	Bexar Savings Association	San Antonio, TX	$813.6M	Sunbelt Savings
Mar 2, 1989	Alamo Sa of Texas	San Antonio, TX	$569.9M	Deposit payout
Mar 2, 1989	Valley FS & La of Hutchinson	Hutchinson, KS	$222.4M	Branch sale
Mar 2, 1989	Shawnee Fed. S & L Assoc.	Topeka, KS	$221.1M	Bank IV Topeka, N.A.
Mar 2, 1989	First State Savings	San Antonio, TX	$217.0M	Banc One TX, N.A.
Mar 2, 1989	First Federal Savings/Hutchinson	Hutchinson, KS	$183.5M	Union NB
Mar 2, 1989	First FSB of Kansas	Wellington, KS	$155.9M	Branch sale
Mar 2, 1989	First Federal Bank of Alaska	Anchorage, AK	$137.6M	First NB of Anchorage
Mar 2, 1989	Landmark Savings Bank FSB	Hot Springs, AR	$132.3M	Branch sale
Mar 2, 1989	First Fed. S & L Assoc.	Fayetteville, AR	$125.6M	Branch sale
Mar 2, 1989	Madison Guaranty S & La	McCrory, AR	$114.7M	Branch sale
Mar 2, 1989	First State Savings Bank	Mountain Home, AR	$107.6M	Worthen B&TC, N.A.
Mar 2, 1989	Mission Sa of Texas	San Antonio, TX	$97.8M	Deposit payout
Mar 2, 1989	Topeka Savings	Topeka, KS	$96.6M	Bank IV Topeka, N.A.
Mar 2, 1989	Southmost S & L	Brownsville, TX	$95.8M	Deposit payout
Mar 2, 1989	Home Savings Bank	Anchorage, AK	$91.5M	Security Pacific Bank Ak, N
Mar 2, 1989	First FS & La of Coffeyville	Coffeyville, KS	$90.6M	Bank IV Coffeyville N.A.
Mar 2, 1989	Peoples S & L Assoc.	Parsons, KS	$84.3M	Parsons Commercial Bank
Mar 2, 1989	Mid America Fed. S & L Assoc.	Parsons, KS	$83.3M	Branch sale
Mar 2, 1989	Vision Banc Savings Assoc.	Kingsville, TX	$77.3M	Deposit payout
Mar 2, 1989	Gibraltar S & L Assoc.	Annapolis, MD	$71.8M	Annapolis NB
Mar 2, 1989	Colonial Savings Association	Liberal, KS	$70.3M	Garden NB of Garden City
Mar 2, 1989	La Hacienda Savings Assoc.	San Antonio, TX	$69.7M	First Community Bank
Mar 2, 1989	Enterprise Federal Savings	Marrero, LA	$63.5M	Whitney NB

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
Sep 23, 1989	Bank of Pleasanton	KS	The Farmers State Bank of Blue Mound
Sep 20, 1989	Winter Garden Credit Union	TX	Gulf Coast Federal Credit Union
Sep 16, 1989	Marquette Bank University, National Association	MN	Marquette Bank Minneapolis, National Association
Sep 16, 1989	First Bank Cottage Grove National Association	MN	U.S. Bank National Association
Sep 16, 1989	Marquette Bank Columbia Heights	MN	Marquette Bank Minneapolis, National Association
Sep 16, 1989	First Bank and Trust Company	GA	Wachovia Bank of Georgia, National Association
Sep 16, 1989	Marquette Bank Lake	MN	Marquette Bank Minneapolis, National Association
Sep 15, 1989	Southern California Free Methodist Credit Union	CA	Adelfi Credit Union
Sep 15, 1989	Bank of Long Island	NY	The Bank of New York Mellon
Sep 15, 1989	Bridgeport Progressive Federal Credit Union	CT	McKesson Federal Credit Union
Sep 13, 1989	Lion Wilkes Barre Federal Credit Union	PA	Choice One Community Federal Credit Union
Sep 11, 1989	First Federal Savings and Loan Association of Montclair	NJ	Penn Federal Savings Bank
Sep 9, 1989	Society Bank of Eastern Ohio, National Association	OH	KeyBank N.A.
Sep 9, 1989	Saint Gregory Federal Credit Union	VA	Abnb Federal Credit Union
Sep 9, 1989	Mercantile Bancorp, Inc.	OK	First Fidelity Bancorp, Inc.
Sep 9, 1989	Touro Employees Federal Credit Union	LA	Onpath Federal Credit Union
Sep 9, 1989	Mercantile Bank, N.A.	OK	First Fidelity Bank
Sep 4, 1989	Magna Bank of Freeburg	IL	Magna Bank, National Association
Sep 3, 1989	Magna Bank of Mascoutah	IL	Magna Bank, National Association
Sep 3, 1989	Magna Bank of Marissa	IL	Magna Bank, National Association
Sep 2, 1989	Eastex Bancshares, Inc.	TX	Ubank Holdings, Inc.
Sep 1, 1989	Wabash General Hospital Federal Credit Union	IL	Louisville Medical Center Federal Credit Union
Sep 1, 1989	Plateau Cu	TN	Upper Cumberland Federal Credit Union
Sep 1, 1989	FN Bancorp	IN	Fort Wayne National Corporation
Sep 1, 1989	St. Joseph Bancorp, Inc.	IL	First Busey Corporation
Sep 1, 1989	Consolidated Banc Shares	WV	CB&T Financial Corp
Sep 1, 1989	Exchange Holding, Inc.	KS	Fourth Financial Corporation
Sep 1, 1989	American Heritage Bancshares, Inc.	MI	Manufacturers National Corporation
Sep 1, 1989	Arcom Credit Union	IL	Sherwin Williams Employees Credit Union
Sep 1, 1989	The Lowndes Bank	WV	Community Bank & Trust
Sep 1, 1989	The Mountain National Bank of Clifton Forge	VA	Crestar Bank
Sep 1, 1989	Saint Gregory the Great Parish Credit Union	OH	Saints Margaret & Gregory Federal Credit Union
Sep 1, 1989	Scarsdale National Bank and Trust Company	NY	The Bank of New York Mellon
Sep 1, 1989	Texas National Guard Credit Union	TX	United Heritage Credit Union
Sep 1, 1989	Hayward Regional Federal Credit Union	CT	Waypoint Federal Credit Union
Sep 1, 1989	(unnamed)	—	Boatmen's National Bank of Cape Girardeau
Sep 1, 1989	First of America Bank - Ludington, National Association	MI	First of America Bank-Muskegon
Sep 1, 1989	Valley National Bank	MN	The Midway National Bank of St. Paul
Sep 1, 1989	Galveston News Employee Federal Credit Union	TX	Primeway Federal Credit Union
Sep 1, 1989	J.H.S. Employees Credit Union	TN	Resource Federal Credit Union
Sep 1, 1989	Digital Communications Corporation Employees Federal Credit Union	MD	Kinecta Federal Credit Union
Sep 1, 1989	Heylpat Federal Credit Union	PA	Tri-Valley Services Federal Credit Union
Sep 1, 1989	First Federal Savings and Loan Association	MS	Magnolia Federal Bank for Savings
Sep 1, 1989	Newman-Crosby Employees Credit Union	RI	COASTAL1 Credit Union
Sep 1, 1989	(unnamed)	—	First Interstate Bank of California
Aug 31, 1989	Saint Cyril and Saint Francis Xaviers Parishes Federal Credit Union	PA	Little Giant Federal Credit Union
Aug 29, 1989	CBI Insurance Services Inc	WI	Valley Bank
Aug 29, 1989	Midamerican Corporation	KS	Midamerican Corporation
Aug 29, 1989	(unnamed)	—	The Seymour National Bank
Aug 28, 1989	The First National Bank of Ripley	WV	United 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

Browse adjacent years: 1988 · 1990

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