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]
In mid-October 2025, Zions Bancorp reported that its CalBank&Trust subsidiary had been the victim of over $60 million in fraudulent loans, and that the bank was setting aside $50 to cover the loss. The result on the stock market was a 13% crash that meant nearly $1 billion in value being wiped from Zions' valuation in a single day; moreover the announcement provoked "contagion" throughout the regional banking industry amidst fears of bank collapses throughout the sector. .
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]
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