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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
Jun 29, 1989 New Ulm State Bank New Ulm, TX $12.0M Industry State Bank
Jun 29, 1989 Hobby Community Bank Houston, TX $8.0M Iola State Bank
Jun 22, 1989 Great Southern Federal Savings Savannah, GA $880.2M First Wachovia
Jun 22, 1989 Habersham Federal Sa Cornelia, GA $93.3M First Commerce Bank
Jun 22, 1989 First Fed. S & L Assoc. Americus, GA $54.4M Sumter Bank & Trust
Jun 22, 1989 Preston North National Bank Dallas, TX $6.5M Sequor National Bank Texas
Jun 21, 1989 Guardian Bank, N.A. Hempstead, NY $409.4M —
Jun 15, 1989 Helotes State Bank Helotes, TX $21.3M Bank of Leon Springs
Jun 15, 1989 Capital Bank-Northwest, National San Antonio, TX $16.0M McMullen County State Bank
Jun 15, 1989 Northern Bank & Trust Fort Collins, CO $6.9M Union Colony Bank
Jun 14, 1989 Western Savings & Loan Phoenix, AZ $5.65B Bank of America, Az
Jun 14, 1989 Sun State Savings & Loan Phoenix, AZ $1.05B Bank of America, Az
Jun 9, 1989 Treasure State Bank Glasgow, MT $14.6M Valley Bank of Glasgow
Jun 8, 1989 Horizon Financial, F.A. Southampton, PA $2.49B Branch sale
Jun 8, 1989 Civic Savings Bank Portsmouth, OH $98.7M Branch sale
Jun 8, 1989 First American Bank San Antonio, TX $13.3M Jourdanton State Bank
Jun 8, 1989 Fulshear State Bank Fulshear, TX $10.7M —
Jun 8, 1989 Lake Country National Bank Burnet, TX $7.5M Lake Buchanan State Bank
May 31, 1989 The First State Bank Forgan, OK $11.7M The Bank of Beaver City
May 25, 1989 Liberty National Bank Dallas, TX $67.5M Cornerstone Bank, National
May 24, 1989 Commerce and Energy Bank Lafayette, LA $29.5M Midsouth National Bank
May 24, 1989 First Eastern Bank & Trust Company New Orleans, LA $29.4M Peoples Bank & Trust Compan
May 24, 1989 Bank of Aurora Aurora, CO $6.9M —
May 19, 1989 Grand Canyon State Bank Scottsdale, AZ $14.6M Bank of Fountain Hills
May 18, 1989 Security Bank & Trust Company Wharton, TX $34.8M The First National Bank of
May 18, 1989 First National Bank at Oswego Oswego, KS $24.0M Parsons Commercial Bank
May 18, 1989 The First National Bank of Gordon Gordon, TX $10.9M The First National Bank of
May 18, 1989 The Bank of Edmond, National Assoc Edmond, OK $8.1M First Interstate of Oklahom
May 12, 1989 Lewis County Savings and Loan Co Weston, WV $4.0M Community Bank & Trust, Nat
May 11, 1989 Lexington State Bank Lexington, TX $13.8M Central Bank of Houston
May 4, 1989 Katy National Bank Katy, TX $52.0M First Bank
May 4, 1989 First National Bank of East Baton Rouge Baton Rouge, LA $28.3M The First National Bank in
May 4, 1989 Greater Texas Bank Leander Leander, TX $20.6M Hill Country Bank
Apr 27, 1989 Southwest Federal Savings Assoc. Los Angeles, CA $896.8M Bank of America, N.A.
Apr 27, 1989 Westco Savings Bank, FSB Wilmington, CA $188.3M Frontier Bank, N.A.
Apr 27, 1989 Metropolitan Fed. S & L Assoc. Denville, NJ $168.2M Collective FSB
Apr 27, 1989 Seabank Fed. Savings Bank Myrtle Beach, SC $35.4M First Citizens B&TC of SC
Apr 27, 1989 Bank of Lakewood, National Assoc Lakewood, CO $9.7M Bank of Lakewood
Apr 27, 1989 Seminole National Bank Hollywood, FL $6.6M Family Bank of Hallandale
Apr 21, 1989 Alliance Bank Anchorage, AK $779.0M National Bank of Alaska
Apr 20, 1989 Travis Bank and Trust Austin, TX $53.9M Union National Bank of Texa
Apr 20, 1989 Continental National Bank San Antonio, TX $12.2M Citizens State Bank of Luli
Apr 20, 1989 First State Bank Deanville, TX $9.4M Citizens State Bank
Apr 14, 1989 Lincoln Savings & Loan Irvine, CA $4.86B Great Western Bank, FSB
Apr 13, 1989 Allied Oklahoma Bank, National Assoc Oklahoma City, OK $58.3M Central Bank of Oklahoma Ci
Apr 12, 1989 The Commonwealth Bank Bellaire, TX $65.8M Park National Bank of Houst
Apr 6, 1989 American FS & La of Colorado Colorado Springs, CO $720.4M World S&LA
Apr 6, 1989 Resource Sa Denison, TX $616.1M Deposit payout
Apr 6, 1989 Independence S & L Assoc. Vallejo, CA $440.0M Bay View FS&LA
Apr 6, 1989 First Fed. S & L of Southeast Mo. Cape Girardeau, MO $385.1M Cape CTY Bank of Cape Girar

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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