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Company type | Subsidiary |
---|---|
Industry | Banking |
Founded | 1952 |
Headquarters | San Diego, California [1] , United States |
Key people | Eric Ellingsen, President & CEO [2] |
Total assets | $91 billion (2022) [3] |
Parent | Zions Bancorporation |
Website | www.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 located across California and assets totaling $91 billion as of 2022, CB&T is a subsidiary of Zions Bancorporation, one of the nation's top 50 bank holding companies. [4] [5]
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 bank 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]
Other acquisitions include Alliance Bank and Vineyard Bank, which were acquired when the Federal Deposit Insurance Corporation (FDIC) closed those 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]
In June 2025, the bank marked a major expansion by acquiring four FirstBank branches in the Coachella Valley, growing to six branches overall. [12] [13]
California Bank & Trust operates through a network of more than 80 branches run through four administrative offices. [14] The offices include Irvine, Los Angeles, Oakland, and the bank's main headquarters in San Diego. [15]
In November 2024, the bank moved its Los Angeles office to the Aon Center, the third tallest building in the city. [16]
The CEO of California Bank & Trust is Eric Ellingsen. [17] [18] He also holds a seat on the Zions Bancorporation executive committee. [19]