Bank failure · TX

Pioneer National Bank (Arlington, TX) — failed September 1, 1988

Pioneer National Bank of Arlington, Texas was closed on September 1, 1988 and resolved through a purchase and assumption. Deposit Guaranty Bank (TX) took over its insured deposits. At failure it held $20.3M in assets and $22.6M in deposits. The FDIC's estimated loss on the failure is $6.2M (30.6% of assets).