Bank failure · CA
Progressive Savings Bank (Pasadena, CA) — failed May 24, 1991
Progressive Savings Bank of Pasadena, California was closed on May 24, 1991 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $388.3M in assets and $373.7M in deposits. The FDIC's estimated loss on the failure is $41.7M (10.7% of assets).
- Closing date
- May 24, 1991
- FDIC certificate #
- 31436
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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