Data / Bank failures / 1991 / Progressive Savings Bank
Progressive Savings Bank, Pasadena, CA: failed May 24, 1991
Progressive Savings Bank in Pasadena, California, failed on May 24, 1991. It held $388.3 million in assets and $373.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $41.7 million (10.7% of its assets). By assets it was the 60th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 24, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $388,336,000
- Total deposits
- $373,666,000
- Estimated cost to the FDIC
- $41,658,885 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31436
Other bank failures in California, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Century Thrift and Loan | Los Angeles | November 5, 1993 | $31.9 million | $24.5 million | $9.6 million | |
| The Bank of San Diego | San Diego | October 29, 1993 | $294.3 million | $289.1 million | $58.9 million | Grossmont Bank |
| Mid City Bank, N.A. | Brea | October 21, 1993 | $105.7 million | $102.6 million | $14.3 million | Chino Valley Bank |
| Brentwood Thrift and Loan Association | Los Angeles | October 15, 1993 | $12.9 million | $11.5 million | $3.3 million | |
| Westside Bank, FSB | Los Angeles | September 24, 1993 | $81.7 million | $76.9 million | $21.6 million | |
| Western United National Bank | Los Angeles | September 24, 1993 | $23.7 million | $22.6 million | $7.2 million | |
| Regent Thrift and Loan Association | San Francisco | September 17, 1993 | $35.8 million | $7.2 million | $1.5 million | Metropolitan Bank |
| Amador Valley S & L | Pleasanton | September 10, 1993 | $41.9 million | $41.2 million | $2.8 million | Community First NB |
All bank failures in 1991 · All bank failures in California · 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.