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.[3]
The institution continued to grow with the acquisition of Fresno, California-based Regency Bank in 1999.[4] 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.[5]
More recent acquisitions include Alliance Bank and Vineyard Bank, which were acquired when the Federal Deposit Insurance Corporation (FDIC) closed these institutions in 2009.[6][7] 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.[8]
California Bank & Trust operates through a network of more than 80 branches run through four administrative offices.[9] These include Irvine, Los Angeles, Oakland, and the bank's main headquarters in San Diego.[10]
