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
Dec 21, 1989	Columbia FSA	Nassau Bay, TX	$77.1M	Deposit payout
Dec 21, 1989	Silver Savings Assoc.	Silver City, NM	$32.2M	First New Mexico Bank
Dec 20, 1989	First City National Bank and Trust	New York, NY	$39.5M	—
Dec 20, 1989	United Community Bank	Westlake Village, CA	$32.3M	Olympic National Bank
Dec 15, 1989	First American Bank and Trust	North Palm Beach, FL	$1.38B	First American Bank and Tru
Dec 14, 1989	Yorkridge-Calvert Federal Savings	Baltimore, MD	$585.8M	Household Bank, FSB
Dec 14, 1989	Louisiana Savings Assn.	Lake Charles, LA	$449.3M	Branch sale
Dec 14, 1989	First Acadiana Bank	Eunice, LA	$46.8M	American Security Bank of V
Dec 14, 1989	Canyon Lake Bank	Canyon Lake, TX	$31.0M	Victoria Bank & Trust Compa
Dec 14, 1989	North Side State Bank	Tulsa, OK	$20.4M	Bank of Tulsa
Dec 14, 1989	Red River S & L Assoc.	Coushatta, LA	$10.4M	Peoples State Bank
Dec 13, 1989	City National Bank of Sayre	Sayre, OK	$21.0M	First State Bank and Trust
Dec 13, 1989	Midlothian National Bank	Midlothian, TX	$9.9M	The First National Bank in
Dec 8, 1989	City Savings, FSB	Somerset, NJ	$9.81B	Branch sale
Dec 8, 1989	Atlantic Permanent Federal	Norfolk, VA	$581.0M	Branch sale
Dec 8, 1989	First Bank, Pineville, Louisiana	Pineville, LA	$72.3M	Rapides Bank & Trust Compan
Dec 8, 1989	Orange State Bank	Miami, FL	$8.0M	Helm Bank
Dec 7, 1989	Arlington Heights Savings Assoc.	Arlington Heights, IL	$509.1M	Citibank FSB
Dec 7, 1989	Community Federal Savings Assoc.	Bridgeport, CT	$58.3M	Union Trust Co.
Dec 7, 1989	Westheimer Memorial Bank, N.A.	Houston, TX	$38.9M	Hibernia National Bank in T
Dec 7, 1989	First Commerce National Bank	Phoenix, AZ	$20.3M	Citicorp(arizona)
Dec 7, 1989	Atlantic National Bank	Norfolk, VA	$14.4M	New Atlantic Bank, National
Dec 7, 1989	The Garnett S & L Assoc.	Garnett, KS	$13.6M	Farmers State Bank
Dec 7, 1989	Aledo State Bank	Aledo, TX	$9.9M	Citizens National Bank of W
Dec 7, 1989	First National Bank of Frisco	Frisco, TX	$9.0M	Hibernia National Bank in T
Dec 1, 1989	First Security Bank of Glendive	Glendive, MT	$32.4M	The First National Bank of
Dec 1, 1989	Central Dakota Bank	Lehr, ND	$13.9M	Security State Bank, Wishek
Nov 30, 1989	Security Federal Savings, FSB	Columbia, SC	$759.2M	South Carolina NB
Nov 30, 1989	Brookside Federal S & L	Los Angeles, CA	$601.4M	Deposit payout
Nov 30, 1989	Southwestern Federal Savings	El Paso, TX	$126.4M	Deposit payout
Nov 30, 1989	Austin FS & La	Austin, TX	$113.4M	Deposit payout
Nov 30, 1989	Fortune Financial Fed. S & L Assoc	Copperas Cove, TX	$84.2M	Deposit payout
Nov 30, 1989	Greater Texas Bank Southwest, N.A.	Travis County, TX	$32.6M	NCNB Texas National Bank
Nov 30, 1989	Salamanca Fed. Savings Assoc.	Salamanca, NY	$29.7M	Cattaraugus City Bank
Nov 30, 1989	Greater Texas Bank North, N.A.	Austin, TX	$22.7M	Hibernia National Bank in T
Nov 30, 1989	First Federal Savings Bank	Diamondville, WY	$13.4M	Deposit payout
Nov 17, 1989	Security National Bank of Shreveport	Shreveport, LA	$19.4M	—
Nov 16, 1989	Sooner Federal Savings Assoc.	Tulsa, OK	$1.53B	First Gibraltar Bank, FSB
Nov 16, 1989	General Federal Savings Bank	Coral Gables, FL	$355.5M	Republic NB of Miami
Nov 16, 1989	First Federal S & L /Central Indiana	Anderson, IN	$192.4M	Shelby FSB
Nov 16, 1989	Texas Western Federal Savings	Houston, TX	$116.1M	Deposit payout
Nov 16, 1989	Security Fed. Savings Association	Garden Grove, CA	$71.0M	Itt FB, FSB
Nov 16, 1989	Love Field National Bank	Dallas, TX	$28.3M	Hibernia National Bank in T
Nov 16, 1989	Executive National Bank	San Antonio, TX	$7.3M	Hibernia National Bank in T
Nov 9, 1989	Colonial Federal Savings Assoc.	Roselle Park, NJ	$427.1M	Branch sale
Nov 9, 1989	Fidelity Federal Savings Assoc.	Galesburg, IL	$393.8M	First Bank, a SB
Nov 9, 1989	Crest Federal S & L	Kankakee, IL	$137.1M	Branch sale
Nov 9, 1989	Aspen Savings Bank FSB	Aspen, CO	$136.3M	Bank of Aspen
Nov 9, 1989	Saratoga S & L Association	San Jose, CA	$84.5M	Pacific Western Bank
Nov 9, 1989	City National Bank of Plano	Plano, TX	$56.5M	Compass Bank - Plano

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
Jul 1, 1989	Alpena Catholic Credit Union	MI	Thunder Bay Area Credit Union
Jul 1, 1989	Eltra Die Cast Federal Credit Union	IL	McHenry County Federal Credit Union
Jul 1, 1989	Galaxy Carpet Mills Fcu	GA	Comtrust Federal Credit Union
Jul 1, 1989	The Amsterdam State Bank	OH	Unibank
Jul 1, 1989	Termaco Credit Union	NC	Carolina Cooperative Federal Credit Union
Jul 1, 1989	West Grand River Community Credit Union	MI	Route 31 Federal Credit Union
Jul 1, 1989	Ymca Federal Credit Union	RI	Coastway Community Bank
Jul 1, 1989	Shannon Credit Union	TX	Qualtrust Credit Union
Jul 1, 1989	Kanawha Union Bank	WV	United National Bank - Central
Jul 1, 1989	Lincolnway State Bank	IL	First Bank South
Jul 1, 1989	Hoechst Celanese Employees Federal Credit Union	VA	Sharonview Federal Credit Union
Jul 1, 1989	DH Holmes Federal Credit Union	LA	Onpath Federal Credit Union
Jul 1, 1989	Wabash Sylvania Employees Federal Credit Union	PA	Palco Federal Credit Union
Jul 1, 1989	Bank One, Clintonville, National Association	WI	First State Bank
Jul 1, 1989	Midlantic National Bank/South	NJ	(unnamed)
Jul 1, 1989	Ed Med Credit Union	NC	Summit Credit Union
Jul 1, 1989	Fort Carson National Bank	CO	Armed Forces Bank, N.A.
Jul 1, 1989	Temporaries Federal Credit Union	DC	Infirst Federal Credit Union
Jul 1, 1989	The Peoples State Bank of Caro, Michigan	MI	Chemical Bank Bay Area
Jul 1, 1989	The Cass City State Bank	MI	Chemical Bank Bay Area
Jul 1, 1989	Sears Atlanta Empl Fcu	GA	LGE Community Credit Union
Jul 1, 1989	Elk National Bank	WV	United Bank
Jul 1, 1989	Billings Conoco Credit Union	MT	Valley Financial Credit Union
Jul 1, 1989	Southpark National Bank of The Quad Cities	IL	First of America Bank-Quad Cities, National Association
Jul 1, 1989	Ohio Valley National Bank of Vienna	WV	United Bank
Jul 1, 1989	The First National Bank of Jessup	PA	First Liberty Bank & Trust
Jul 1, 1989	First South Bank	GA	Century South Bank of Central Georgia, National Association
Jul 1, 1989	First of America Bank-Mid-Michigan	MI	First of America Bank - Mid Michigan, National Association
Jul 1, 1989	Midlantic National Bank/Merchants	NJ	(unnamed)
Jul 1, 1989	Eggers Employees Credit Union	WI	Riverwood-Maritime Credit Union
Jul 1, 1989	Huron County Bank	MI	Chemical Bank Bay Area
Jul 1, 1989	Webster County National Bank	WV	United National Bank - Central
Jul 1, 1989	St. Peter and Paul Parish Credit Union	MO	1st City Credit Union
Jul 1, 1989	Eis Employees Credit Union	CT	Dutch Point Credit Union
Jul 1, 1989	Ocean Products Fcu	FL	Trax Federal Credit Union
Jul 1, 1989	Ideal Credit Union	WV	West Virginia Central Federal Credit Union
Jul 1, 1989	Mount Carroll National Bank	IL	First Bank North
Jul 1, 1989	Wood River Hospital Credit Union	IL	Midwest Members Credit Union
Jul 1, 1989	Illinois Central East St. Louis Credit Union	IL	Midwest Members Credit Union
Jul 1, 1989	First National Bank of Freeport	IL	First Bank North
Jul 1, 1989	Brownbilt Credit Union	MO	First Missouri Credit Union
Jul 1, 1989	The Polo National Bank	IL	First Bank South
Jul 1, 1989	First National Bank of Morton	IL	First of America Bank-Illinois, National Association
Jul 1, 1989	Key Atlantic Bancorp	NY	KeyCorp
Jul 1, 1989	Granite Bank	NH	Granite Bank, National Association
Jul 1, 1989	Danco, Inc.	IA	Valley Bancshares, Inc.
Jul 1, 1989	Lee County Bancorp., Inc.	IA	Lee Capital Corp.
Jul 1, 1989	Humboldt Investment Corp.	IA	Bank Iowa Corporation
Jul 1, 1989	Sullivan Community Credit Union	MO	South Community Credit Union
Jul 1, 1989	Brenton Ins. Ag of Eagle Grove Inc	IA	Brenton Bank and Trust Company

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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