California Bank & Trust (CB&T), a division of Zions Bancorporation, announced the successful completion of its acquisition of FirstBank's California banking operations. This integration includes four newly converted branches in the Coachella Valley. The expansion strengthens CB&T's long-standing commitment to providing comprehensive banking solutions in the region.
The acquisition adds approximately $630 million in deposits and $420 million in loans to CB&T's portfolio. This move enhances the bank's ability to deliver personalized financial solutions to local businesses, families, and community organizations. The newly converted branches are located in Palm Desert and Indio.
Eric Ellingsen, CB&T President and CEO, stated that the growth reflects a deep dedication to the vibrant Coachella Valley region. The company is committed to a seamless transition for both customers and employees, with familiar faces continuing to serve the community. This strategic expansion solidifies Zions Bancorporation's regional footprint.
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