Data / Bank failures / 1990 / Pima S & La
Pima S & La, Tucson, AZ: failed March 2, 1990
Pima S & La in Tucson, Arizona, failed on March 2, 1990. Bank of America, Az of Phoenix, AZ, took over its deposits. It held $2.73 billion in assets and $2.13 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $160.5 million (5.9% of its assets). By assets it was the 14th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- March 2, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of America, Az, Phoenix, AZ
- Total assets
- $2,734,063,000
- Total deposits
- $2,128,178,000
- Estimated cost to the FDIC
- $160,524,582 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 30697
Other bank failures in Arizona, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Columbia Bank | Avondale | February 27, 1992 | $17 million | $16.9 million | $3.7 million | Valley NB of Arizona |
| Fountain Bank | Scottsdale | January 31, 1992 | $15.6 million | $16.1 million | $4.7 million | Bank of Arizona |
| The Bank of Verde Valley | Cottonwood | January 16, 1992 | $10.3 million | $10.2 million | $1.4 million | Stockmens Bank |
| First American FSB | Tucson | August 16, 1991 | $145 million | $130.3 million | $11.2 million | State SB, FSB |
| Arizona Commerce Bank | Tucson | April 12, 1991 | $80.8 million | $79.8 million | $7.3 million | Arizona Bank of Commerce |
| Farmers and Merchants Bank | Buckeye | June 18, 1990 | $24 million | $22.4 million | $5.8 million | The Stockmen's Bank |
| Guardian Bank | Scottsdale | April 26, 1990 | $25.9 million | $27 million | $8.4 million | Citibank (arizona) |
| Central Arizona Bank | Chandler | April 26, 1990 | $6.6 million | $7.1 million | $1 million | Security Pacific Bank Arizo |
Other failed banks Bank of America, Az took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Sun State Savings & Loan | Phoenix | AZ | June 14, 1989 | $1.05 billion | $892.9 million | $443.6 million | Bank of America, Az |
| Western Savings & Loan | Phoenix | AZ | June 14, 1989 | $5.65 billion | $4.13 billion | $2.08 billion | Bank of America, Az |
All bank failures in 1990 · All bank failures in Arizona · Every failed bank Bank of America, Az took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.