California Bank & Trust (CB&T) is a full-service bank specializing in business banking and headquartered in San Diego, California. With assets of more than $11 billion and more than 100 branches located throughout California, CB&T is a subsidiary of Zions Bancorporation, one of the nation’s top 50 bank holding companies, with assets of more than $50 billion.
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.
The institution continued to grow with the acquisition of Fresno, California-based Regency Bank in 1999. 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.
More recent acquisitions include Alliance Bank and Vineyard Bank, which were acquired when the Federal Deposit Insurance Corporation (FDIC) closed these institutions in 2009. Through this transaction, California Bank & Trust acquired Alliance Bank's $951 millions of deposits and $1.14 billion of assets, and up to $225 millions of the sold bank's credits.
Operations
California Bank & Trust has nearly 1,700 employees and operates through a network of 102 branches run through four administrative offices. These include Irvine, Los Angeles, Oakland, and the bank’s main headquarters in San Diego.
In 2012, California Bank & Trust was rated as “outstanding†by the FDIC for its performance under the Community Reinvestment Act (CRA) and, in 2011, was a “preferred SBA lender“ as designated by the Small Business Administration.
In 2012, California Bank & Trust employees raised over $95,000 for the United Way and $101,000 in 2013. In April 2012, CB&T announced a new business financing initiative focused on minority and women-owned businesses in California called TEAM (Tools, Education, Access and Mentoring). The initiative was launched in affiliation with Latina Style, Inc. and the Anna Maria Arias Foundation, a foundation working to ensure the growth, reach and impact of Latina entrepreneurs by providing programs, services and resources that help Latinas establish successful businesses.
Honors and accolades
The bank has been recognized by Greenwich Associates, a leading global financial services research and consulting firm, which has awarded California Bank & Trust 13 Excellence Awards for small business and middle market banking as a part of Zions Bancorporation. In addition, California Bank & Trust was voted San Diego’s Best Bank in 2011 and in 2012 in the annual San Diego Union-Tribune readers’ poll.
Holdups
California Bank and Trust has been the target of several holdups at its branches.
- In December 2013, a man walked into the Kearny Mesa location, handed a note to the teller demanding money, and left with the stolen money.
- In March 2015, a man walked into the Dana Point location, handed a note to the teller saying he had a handgun, and walked out with the stolen money. This holdup has been linked to four others that took place in California.
- In April 2015, a masked man walked into the Center Valley branch with his hand in his pocket as if he had a gun, but fled before grabbing any money.
References
External links
- Official website