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 2, 1989	Elmwood Fed. S & L Assoc.	Harahan, LA	$57.4M	First NB of Commerce
Mar 2, 1989	First Fed. S & L Assoc.	Malvern, AR	$51.1M	Deposit payout
Mar 2, 1989	Suburban Savings Assoc.	San Antonio, TX	$49.2M	Plaza Bank, N.A.
Mar 2, 1989	The Barber County S & L Assoc.	Medicine Lodge, KS	$47.5M	First NB
Mar 2, 1989	Fountainbleau Federal	Slidell, LA	$38.7M	Fontainebleau Community Ban
Mar 2, 1989	Home Fed. S & L Assoc.	Mountain Home, AR	$37.2M	Deposit payout
Mar 2, 1989	Commonwealth S & L Assoc.	Osceola, AR	$37.1M	Southbank, a FSB
Mar 2, 1989	First Savings of Louisiana	La Place, LA	$25.9M	Hibernia NB
Mar 2, 1989	Unipoint Fed. Savings Bank	Trumann, AR	$18.9M	Unico Bank, FSB
Mar 2, 1989	Padre Federal S & L	Corpus Christi, TX	$18.4M	Deposit payout
Mar 2, 1989	Permian S & L Assoc.	Kermit, TX	$10.8M	Deposit payout
Feb 28, 1989	Commerce Sa	San Antonio, TX	$807.3M	Bank of America TX, N.A.
Feb 24, 1989	Mid-State S&LA	Champaign, IL	$28.4M	—
Feb 24, 1989	First Valley S&LA	Pikeville, TN	$11.9M	—
Feb 17, 1989	Southwest S & La	Phoenix, AZ	$2.27B	Security Pacific Bank Az
Feb 17, 1989	American S & La	Salt Lake City, UT	$2.18B	Pacific First FSB
Feb 17, 1989	Blue Valley FS & La	Kansas City, MO	$839.2M	United Missouri City Bank
Feb 17, 1989	Anchor Sa	Kansas City, KS	$834.0M	Bank IV Kansas City, N.A.
Feb 17, 1989	Occidental/Nebraska FSB	Omaha, NE	$677.3M	Firstier Bank, Na, Omaha
Feb 17, 1989	Security S & La	Scottsdale, AZ	$626.9M	Branch sale
Feb 17, 1989	Concordia Federal Bank for Savings	Lansing, IL	$468.8M	Advance FB for Savings
Feb 17, 1989	Guaranty Fed. S & L Assoc.	Birmingham, AL	$381.3M	Southtrust Affliated Banks
Feb 17, 1989	Horizon Fed. S & L Assoc.	Metairie, LA	$380.7M	Deposit payout
Feb 17, 1989	First FS & La	Largo, FL	$334.4M	Barnett Bank of Pinnelas Co
Feb 17, 1989	Westwood S & L Assoc.	Los Angeles, CA	$328.4M	Fidelity FB, FSB
Feb 17, 1989	Platte Valley FS & La	Gering, NE	$316.8M	First NB&TC of North Platte
Feb 17, 1989	North Jersey Federal Sav. Assoc.	Passaic, NJ	$278.1M	Valley NB
Feb 17, 1989	The First State Bank	Abilene, TX	$272.7M	NCNB Texas National Bank
Feb 17, 1989	French Market Homestead, FSA	Metairie, LA	$250.8M	First NB of Commerce
Feb 17, 1989	Mountainwest S & L Assoc.	Ogden, UT	$241.5M	Mountainwest Financial
Feb 17, 1989	Equitable Federal Savings Bank	Fremont, NE	$225.2M	Firstier Bank, Na, Omaha
Feb 17, 1989	Independence FS & La	Batesville, AR	$207.0M	Worthen B&TC, N.A.
Feb 17, 1989	Elysian Federal Savings Bank	Hoboken, NJ	$198.7M	Pamrapo SB, Sla
Feb 17, 1989	Sun Savings Association, F.A.	Kansas City, KS	$188.8M	Brotherhood B&TC
Feb 17, 1989	Community Saving & Loan	Fond du Lac, WI	$185.4M	Banc One Wi
Feb 17, 1989	Columbia Fed. Savings Bank	Westport, CT	$145.6M	Gateway Bank
Feb 17, 1989	Southern Floridabanc Federal	Boca Raton, FL	$143.3M	NCNB NB of FL
Feb 17, 1989	Midwest Fed. S & L Assoc.	Nebraska City, NE	$139.1M	American NB
Feb 17, 1989	Universal Savings & Loan	Scottsdale, AZ	$92.7M	First Arizona S&LA
Feb 17, 1989	Nile Valley Federal S & L Assoc.	Scottsbluff, NE	$56.3M	First NB&TC of North Platte
Feb 16, 1989	Louisiana Bank & Trust Company	Shreveport, LA	$270.4M	Hibernia National Bank
Feb 16, 1989	Texas National Bank	Houston, TX	$39.7M	First Galleria Bank
Feb 16, 1989	Security Bank	Houston, TX	$19.3M	Texas Commerce Bank, N.A.
Feb 16, 1989	Westpoint National Bank	San Antonio, TX	$8.3M	The Frost National Bank of
Feb 16, 1989	The Home State Bank	Arcadia, KS	$1.7M	—
Feb 15, 1989	First Continental National Bank	Houston, TX	$9.0M	—
Feb 14, 1989	University Federal Savings	Houston, TX	$4.48B	NCNB Texas National Bank
Feb 13, 1989	Midwest Federal Savings	Minneapolis, MN	$3.26B	Branch sale
Feb 10, 1989	Bright Banc	Dallas, TX	$4.39B	Banc One FSB
Feb 10, 1989	First Federal of Arkansas	Little Rock, AR	$1.58B	Branch sale

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
Dec 29, 1989	OCC	Hamilton Bank, N.A.	Civil Money Penalty (CMP): Gonzalez, Joaquin
Dec 28, 1989	OCC_OTS	(individual)	Supervisory Agreement: First Federal Savings and Loan Association of Cape Cod
Dec 27, 1989	OCC	First National Bank of Callaway County	Civil Money Penalty (CMP): Cooke, J.F.
Dec 27, 1989	OCC	Bank Star One	Civil Money Penalty (CMP): Landrum, Roy
Dec 20, 1989	OCC_OTS	Banc Iowa Federal Savings Bank	Supervisory Agreement: Banc Iowa Savings Bank
Dec 20, 1989	OCC	Sam Houston National Bank of Walker County	Civil Money Penalty (CMP): Waller, Morris I.
Dec 20, 1989	OCC	Sam Houston National Bank of Walker County	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Waller, Morris I.
Dec 20, 1989	OCC_OTS	First Federal Savings Bank and Trust	Cease and Desist: First Savings Bank and Trust, F.S.B.,
Dec 19, 1989	OCC	First Bank N.A.	Civil Money Penalty (CMP): Bustamante, John H.
Dec 19, 1989	OCC	First Bank N.A.	Civil Money Penalty (CMP): Trotter, Lee A.
Dec 19, 1989	OCC_OTS	(individual)	Orders of Removal/Prohibition: Robert L. Hodges
Dec 15, 1989	OCC_OTS	(individual)	Supervisory Agreement: Midwest Federal Savings Bank
Dec 12, 1989	OCC	First National Bank of Dayton	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Dayton
Dec 11, 1989	OCC	Gateway National Bank	Formal Agreement: Gateway National Bank
Dec 6, 1989	OCC_OTS	Great West, a Federal Savings Bank	Cease and Desist: Tom R. Waymire
Dec 6, 1989	OCC_OTS	City Savings and Loan Association	Orders of Removal/Prohibition: Wayman Thurman
Dec 6, 1989	OCC_OTS	(individual)	Orders of Removal/Prohibition: Stephanie Shea
Dec 6, 1989	OCC_OTS	Executive Banc Savings Association, F.A.	Orders of Removal/Prohibition: Lonnie E. Chunn
Dec 6, 1989	OCC_OTS	Otero Savings and Loan Association	Orders of Removal/Prohibition: James A. Gallagher
Dec 6, 1989	OCC_OTS	State Federal Savings Association	Cease and Desist: State Federal Savings and Loan Association
Dec 6, 1989	OCC_OTS	First Federal Savings Bank	Cease and Desist: First Savings Bank, FSB
Dec 5, 1989	OCC_OTS	Saratoga Federal Savings and Loan Association	Orders of Removal/Prohibition: Donna A. Rodrigues
Dec 5, 1989	OCC_OTS	Saratoga Federal Savings and Loan Association	Orders of Removal/Prohibition: Jess A. Rodrigues
Dec 1, 1989	OCC	Otoe County National Bank and Trust Company	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Otoe County National Bank & …
Dec 1, 1989	OCC	The First National Bank of Bowman	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank Of Bowman
Dec 1, 1989	OCC	Otoe County National Bank and Trust Company	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Becker, John H.
Dec 1, 1989	OCC	The First National Bank of Bayard	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Becker, John H.
Dec 1, 1989	OCC	The Park Avenue Bank	Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Park Avenue Bank, National Association, The
Nov 27, 1989	OCC	The First National Bank of Tipton	Civil Money Penalty (CMP): Rackley, Jack
Nov 27, 1989	OCC	The First National Bank of Hammon	Civil Money Penalty (CMP): Rackley, Jack
Nov 27, 1989	OCC	The First National Bank in Hysham	Civil Money Penalty (CMP): Manning, Jere
Nov 27, 1989	OCC	The First National Bank in Hysham	Civil Money Penalty (CMP): Lawrence, John
Nov 27, 1989	OCC	The First National Bank of Tipton	Civil Money Penalty (CMP): Hudson, John
Nov 27, 1989	OCC	The First National Bank in Hysham	Civil Money Penalty (CMP): Heberle, Elmer
Nov 27, 1989	OCC	The First National Bank in Hysham	Civil Money Penalty (CMP): Hansen, H.R.
Nov 27, 1989	OCC	The First National Bank in Hysham	Civil Money Penalty (CMP): Cunningham, W.D.
Nov 27, 1989	OCC	The First National Bank of Hammon	Civil Money Penalty (CMP): Baresel, Larry
Nov 27, 1989	OCC	The First National Bank of Tipton	Prohibition/Removal Orders: Rackley, Jack
Nov 27, 1989	OCC	The First National Bank of Hammon	Prohibition/Removal Orders: Rackley, Jack
Nov 27, 1989	OCC	The First National Bank of Hammon	Prohibition/Removal Orders: Hudson, John
Nov 27, 1989	OCC	Scottsbluff National Corporation	Prohibition/Removal Orders: Hansen, Lavon Ilene
Nov 27, 1989	OCC	The First National Bank of Tipton	Prohibition/Removal Orders: Baresel, Larry
Nov 21, 1989	OCC_OTS	First State Savings Association	Supervisory Agreement: First State Savings Association
Nov 20, 1989	OCC_OTS	Home Owners Savings Bank FSB	Civil Money Penalty: Milo L. Pike
Nov 20, 1989	OCC_OTS	First Federal Savings & Loan Association of Valdosta	Cease and Desist: Toppy R. Gurley
Nov 15, 1989	OCC_OTS	Peoples Federal Savings and Loan Association of Ardmore	Supervisory Agreement: Peoples Federal Savings and Loan Association
Nov 13, 1989	OCC	Security Bank of Denver, N.A.	Civil Money Penalty (CMP): Moll, Marvin W.
Nov 9, 1989	OCC	The Patoka National Bank	Civil Money Penalty (CMP): Ensor, John A.
Nov 7, 1989	OCC_OTS	Signal Savings and Loan Association	Orders of Removal/Prohibition: Ronald L. Stiles
Nov 7, 1989	OCC_OTS	Enterprise Federal Savings and Loan Association	Orders of Removal/Prohibition: Blaine G. McMahon

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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