Bank Failure
Pima S & La
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Closed March 2, 1990 · Tucson, AZ · FDIC Cert #30697.
- Closing date
- March 2, 1990
- Headquarters
- Tucson, AZ
- FDIC Certificate
- 30697
- Total assets at closing
- $2.73B
- Total deposits at closing
- $2.13B
- Estimated loss to the insurance fund
- $160.5M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of America, Az
Context
On March 2, 1990, regulators closed Pima S & La, headquartered in Tucson, AZ. At closing, the institution held approximately $2.73B in assets and $2.13B in deposits. The FDIC record names Bank of America, Az as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $160.5M.
By assets at closing this is the 84th largest of the 3,526 bank failures in the FDIC record, and the 14th of 381 in 1990. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Pima S & La fail?
Pima S & La was closed by regulators on March 2, 1990.
Who acquired Pima S & La?
The FDIC record names Bank of America, Az as the acquiring institution in the resolution of Pima S & La.
How big was Pima S & La when it failed?
Pima S & La had approximately $2.73B in total assets and $2.13B in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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