California Bank & Trust
TypeSubsidiary
IndustryBanking
Founded1952 (1952)
Headquarters
San Diego, California[1]
,
United States
Key people
Eric Ellingsen, President & CEO [2]
Total assets$91 billion (2022) [3]
ParentZions Bancorporation
Websitewww.calbanktrust.com

California Bank & Trust (CB&T) is a full-service bank specializing in consumer, commercial and wealth management services headquartered in San Diego, California. With more than 80 branches[4] located throughout California, CB&T is a subsidiary of Zions Bancorporation, one of the nation's top 50 bank holding companies, with assets of approximately $91 billion.[5]

History

California Bank & Trust was created in October 1998 as the result of the merger of three institutions acquired separately by Zions Bancorporation: Sumitomo Bank of California, San Diego-based Grossmont Bank and First Pacific National Bank.[6]

The institution continued to grow with the acquisition of Fresno, California-based Regency Bank in 1999.[7] In 2001, the company expanded its footprint with the addition of Eldorado Bancshares, which included Eldorado's two subsidiaries, Eldorado Bank and Antelope Valley Bank.[8]

More recent acquisitions include Alliance Bank and Vineyard Bank, which were acquired when the Federal Deposit Insurance Corporation (FDIC) closed these institutions in 2009.[9][10] Through this transaction, California Bank & Trust acquired Alliance Bank's $951 million of deposits and $1.14 billion of assets, and up to $225 million of the sold bank's credits.[11]

Operations

California Bank and Trust building in Long Beach, California

California Bank & Trust operates through a network of more than 80 branches run through four administrative offices.[12] These include Irvine, Los Angeles, Oakland, and the bank's main headquarters in San Diego.[13]

References

  1. ↑ "About Us". California Bank & Trust.
  2. ↑ "California Bank & Trust promotes Eric Ellingsen to CEO | California Bank & Trust". Retrieved May 14, 2023.
  3. ↑ "CALIFORNIA BANK & TRUST INITIATES STATE-WIDE "GIVE DAY" DURING INAUGURAL FOUR-DAY VIRTUAL CONFERENCE". Retrieved May 14, 2023.
  4. ↑ "Brand Story | California Bank & Trust". Retrieved May 14, 2023.
  5. ↑ "Top 50 Holding Companies". FFIEC.gov.
  6. ↑ "About California Bank & Trust". Calbanktrust.com. Archived from the original on August 18, 2012.
  7. ↑ "Zions Bancorporation and Regency Bancorp Announce Merger Agreement". PRNewsWire.com.
  8. ↑ "Zions Bancorporation Completes Merger With Eldorado Bancshares, Inc". PRNewsWire.com.
  9. ↑ "California Bank and Trust, San Diego, CA, Acquires All of the Deposits of Alliance Bank, Culver City, CA". FDIC.gov. Retrieved February 6, 2009.
  10. ↑ "California Bank & Trust, San Diego, California, Assumes All of the Deposits of Vineyard Bank, National Association, Rancho Cucamonga, California". FDIC.gov. Retrieved July 17, 2009.
  11. ↑ "CALIFORNIA BANK & TRUST ACQUIRES ALLIANCE BANK". Sec.gov. February 6, 2009.
  12. ↑ Brand Historycalbanktrust.com Archived January 20, 2021, at the Wayback Machine
  13. ↑ "Fast Facts about California Bank & Trust" (PDF). Archived from the original (PDF) on February 7, 2015.
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