Bank Failure
Pioneer FS & La
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Closed April 2, 1993 · Prairie Village, KS · FDIC Cert #27773.
- Closing date
- April 2, 1993
- Headquarters
- Prairie Village, KS
- FDIC Certificate
- 27773
- Total assets at closing
- $132.8M
- Total deposits at closing
- $128.0M
- Estimated loss to the insurance fund
- $36.3M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators). The FDIC record lists the resolution as: branch sale.
Context
On April 2, 1993, regulators closed Pioneer FS & La, headquartered in Prairie Village, KS. At closing, the institution held approximately $132.8M in assets and $128.0M in deposits. The FDIC record lists the resolution as a branch sale; no acquiring institution is named. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $36.3M.
By assets at closing this is the 1025th largest of the 3,526 bank failures in the FDIC record, and the 10th of 50 in 1993. 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 Pioneer FS & La fail?
Pioneer FS & La was closed by regulators on April 2, 1993.
How big was Pioneer FS & La when it failed?
Pioneer FS & La had approximately $132.8M in total assets and $128.0M in deposits at the time of failure.
Other failures in 1993
| Date | Bank | Assets |
|---|---|---|
| Nov 5, 1993 | Century Thrift and Loan | $31.9M |
| Oct 29, 1993 | The Bank of San Diego | $294.3M |
| Oct 21, 1993 | Mid City Bank, N.A. | $105.7M |
| Oct 15, 1993 | Brentwood Thrift and Loan Association | $12.9M |
| Oct 14, 1993 | Plaza Bank, N.A. of New Braunfels | $54.6M |
| Sep 24, 1993 | Westside Bank, FSB | $81.7M |
| Sep 24, 1993 | Western United National Bank | $23.7M |
| Sep 17, 1993 | Regent Thrift and Loan Association | $35.8M |
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