California Bank and Trust
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 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]
History
[edit]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
[edit]
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
[edit]- ^ "About Us". California Bank & Trust.
- ^ "California Bank & Trust promotes Eric Ellingsen to CEO | California Bank & Trust". Retrieved May 14, 2023.
- ^ "CALIFORNIA BANK & TRUST INITIATES STATE-WIDE "GIVE DAY" DURING INAUGURAL FOUR-DAY VIRTUAL CONFERENCE". Retrieved May 14, 2023.
- ^ "Top 50 Holding Companies". FFIEC.gov.
- ^ "Brand Story | California Bank & Trust". Retrieved May 14, 2023.
- ^ "About California Bank & Trust". Calbanktrust.com. Archived from the original on August 18, 2012.
- ^ "Zions Bancorporation and Regency Bancorp Announce Merger Agreement". PRNewsWire.com.
- ^ "California Bank and Trust, San Diego, CA, Acquires All of the Deposits of Alliance Bank, Culver City, CA". FDIC.gov. Retrieved February 6, 2009.
- ^ "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.
- ^ "CALIFORNIA BANK & TRUST ACQUIRES ALLIANCE BANK". Sec.gov. February 6, 2009.
- ^ Dupuis, Tara (May 30, 2025). "California Bank & Trust Grows to Six Branches in the Coachella Valley". Palm Springs Life. Retrieved June 10, 2025.
- ^ "California Bank and Trust Expands in Coachella Valley with Four New Branches". www.nbcpalmsprings.com. Retrieved June 10, 2025.
- ^ Brand Historycalbanktrust.com Archived January 20, 2021, at the Wayback Machine
- ^ "Fast Facts about California Bank & Trust" (PDF). Archived from the original (PDF) on February 7, 2015.
- ^ "California Bank & Trust Moves to Aon Center in Downtown Los Angeles". Commercial Observer. November 18, 2024. Retrieved June 10, 2025.
- ^ "Eric Ellingsen". Los Angeles Times. Retrieved June 29, 2025.
- ^ "SD500 2022: Eric Ellingsen". San Diego Business Journal. January 19, 2023. Retrieved June 29, 2025.
- ^ "SD500 2022: Eric Ellingsen". San Diego Business Journal. January 19, 2023. Retrieved June 29, 2025.