California Bank and Trust

California Bank & Trust

Company type	Subsidiary
Industry	Banking
Founded	1952 (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 about $91 billion, CB&T is a subsidiary of Zions Bancorporation, one of the nation's top 50 bank holding companies. ^{[4] [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]

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]

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] The offices 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. "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. 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.