California Bank and Trust

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]

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

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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