The Graveyard › Banks › 1991
Progressive Savings Bank
Pasadena, CA · failed May 24, 1991 · FDIC certificate 31436
Progressive Savings Bank of Pasadena, CA failed on May 24, 1991. It opened in 1963, 28 years before. At its last report before that it held $388.3 million in assets and $373.7 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1987, it held $556.7 million. The FDIC estimates that the Resolution Trust Corporation lost $41.7 million on it.
1984-031991-03
Assets at the end$388.3 millionlast report before May 24, 1991
Deposits at the end$373.7 million
Estimated loss to the fund$41.7 millionRTC
Largest in the quarterly reports$556.7 millionDecember 31, 1987
Equity to assets0.5%March 31, 1991
Loans not being repaid4.6%noncurrent, March 31, 1991
Return on assets0.81%a year's rate, March 31, 1991
Staff93full time, March 31, 1991
Also ended in 1991
- Bank of New England, National Association · Boston, MA · $13.4 billion in assets
- Southeast Bank, National Association · Miami, FL · $11.0 billion in assets
- Goldome · Buffalo, NY · $9.9 billion in assets
- Great American Fsa · San Diego, CA · $9.5 billion in assets
- The Connecticut Bank & Trust Co · Hartford, CT · $7.2 billion in assets
- Sunbelt Savings · Irving, TX · $6.0 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.