California Bank and Trust

Last updated

California Bank & Trust
Company type Subsidiary
Industry Banking
Founded1952 (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]

Contents

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 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]

Operations

California Bank and Trust building in Long Beach, California California Bank and Trust Building, Long Beach.jpg
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. [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]

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. "Top 50 Holding Companies". FFIEC.gov.
  5. "Brand Story | California Bank & Trust" . Retrieved May 14, 2023.
  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. Dupuis, Tara (May 30, 2025). "California Bank & Trust Grows to Six Branches in the Coachella Valley". Palm Springs Life. Retrieved June 10, 2025.
  13. "California Bank and Trust Expands in Coachella Valley with Four New Branches". www.nbcpalmsprings.com. Retrieved June 10, 2025.
  14. Brand Historycalbanktrust.com Archived January 20, 2021, at the Wayback Machine
  15. "Fast Facts about California Bank & Trust" (PDF). Archived from the original (PDF) on February 7, 2015.
  16. "California Bank & Trust Moves to Aon Center in Downtown Los Angeles". Commercial Observer. November 18, 2024. Retrieved June 10, 2025.
  17. "Eric Ellingsen". Los Angeles Times. Retrieved June 29, 2025.
  18. "SD500 2022: Eric Ellingsen". San Diego Business Journal. January 19, 2023. Retrieved June 29, 2025.
  19. "SD500 2022: Eric Ellingsen". San Diego Business Journal. January 19, 2023. Retrieved June 29, 2025.