Bank Failure
Pioneer State Bank
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Closed January 24, 1986 · Salt Lake City, UT · FDIC Cert #22818.
- Closing date
- January 24, 1986
- Headquarters
- Salt Lake City, UT
- FDIC Certificate
- 22818
- Total assets at closing
- $11.7M
- Total deposits at closing
- $10.9M
- Estimated loss to the insurance fund
- $537K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Zions First National Ban
Context
On January 24, 1986, regulators closed Pioneer State Bank, headquartered in Salt Lake City, UT. At closing, the institution held approximately $11.7M in assets and $10.9M in deposits. The FDIC record names Zions First National Ban as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $537K.
By assets at closing this is the 2706th largest of the 3,526 bank failures in the FDIC record, and the 132nd of 162 in 1986. 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 State Bank fail?
Pioneer State Bank was closed by regulators on January 24, 1986.
Who acquired Pioneer State Bank?
The FDIC record names Zions First National Ban as the acquiring institution in the resolution of Pioneer State Bank.
How big was Pioneer State Bank when it failed?
Pioneer State Bank had approximately $11.7M in total assets and $10.9M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
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