Bank failure · CA
Pioneer Bank (Fullerton, CA) — failed July 8, 1994
Pioneer Bank of Fullerton, California was closed on July 8, 1994 and resolved through a purchase and assumption (insured deposits). Chino Valley Bank (CA) took over its insured deposits. At failure it held $133.3M in assets and $128.4M in deposits. The FDIC's estimated loss on the failure is $14.5M (10.9% of assets).
- Closing date
- July 8, 1994
- FDIC certificate #
- 23448
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Chino Valley Bank
- Insurance fund
- BIF
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