CALIFORNIA BANK & TRUST EXPANDS PRESENCE IN THE COACHELLA VALLEY FOLLOWING ACQUISITION OF FIRSTBANK'S CALIFORNIA OPERATIONS
California Bank & Trust (CB&T) has expanded its presence in the Coachella Valley through the successful acquisition of FirstBank's California banking operations. The integration includes four newly converted branches in the region, strengthening CB&T's 20-year presence in the area.
The expansion includes branches at 73000 Highway 111 and 42035 Washington Street in Palm Desert, 39580 Washington Street in Palm Desert, and 82900 Avenue 42 C in Indio. To celebrate this expansion, CB&T will host a Grand Opening Celebration on March 24, 2025, from 1 to 3 p.m. at its newly converted Palm Desert branch.
CB&T President and CEO Eric Ellingsen emphasized the bank's commitment to the region, focusing on delivering personalized financial solutions. The bank maintains its community involvement through partnerships with the Coachella Valley Firebirds, Fashion Week El Paseo, and the Palm Desert Food & Wine Festival.
California Bank & Trust (CB&T) ha ampliato la sua presenza nella Coachella Valley attraverso l'acquisizione riuscita delle operazioni bancarie californiane di FirstBank. L'integrazione include quattro filiali recentemente convertite nella regione, rafforzando la presenza di CB&T nell'area da 20 anni.
L'espansione comprende filiali situate in 73000 Highway 111 e 42035 Washington Street a Palm Desert, 39580 Washington Street a Palm Desert e 82900 Avenue 42 C a Indio. Per celebrare questa espansione, CB&T ospiterà una Grande Cerimonia di Apertura il 24 marzo 2025, dalle 13:00 alle 15:00 presso la sua nuova filiale convertita di Palm Desert.
Il Presidente e CEO di CB&T, Eric Ellingsen, ha sottolineato l'impegno della banca verso la regione, concentrandosi sulla fornitura di soluzioni finanziarie personalizzate. La banca mantiene il suo coinvolgimento nella comunità attraverso collaborazioni con i Coachella Valley Firebirds, la Fashion Week El Paseo e il Palm Desert Food & Wine Festival.
California Bank & Trust (CB&T) ha ampliado su presencia en el Valle de Coachella a través de la exitosa adquisición de las operaciones bancarias de FirstBank en California. La integración incluye cuatro sucursales recientemente convertidas en la región, fortaleciendo la presencia de CB&T en el área durante 20 años.
La expansión incluye sucursales en 73000 Highway 111 y 42035 Washington Street en Palm Desert, 39580 Washington Street en Palm Desert y 82900 Avenue 42 C en Indio. Para celebrar esta expansión, CB&T llevará a cabo una Gran Celebración de Apertura el 24 de marzo de 2025, de 1 a 3 p.m. en su nueva sucursal convertida de Palm Desert.
El Presidente y CEO de CB&T, Eric Ellingsen, enfatizó el compromiso del banco con la región, centrándose en ofrecer soluciones financieras personalizadas. El banco mantiene su participación comunitaria a través de asociaciones con los Coachella Valley Firebirds, la Fashion Week El Paseo y el Palm Desert Food & Wine Festival.
캘리포니아 뱅크 앤 트러스트(CB&T)는 퍼스트뱅크의 캘리포니아 은행 운영을 성공적으로 인수하여 코첼라 밸리에서의 입지를 확장했습니다. 통합에는 이 지역에 새롭게 전환된 네 개의 지점이 포함되어 있으며, CB&T의 20년간의 존재감을 강화하고 있습니다.
확장에는 팜 데저트의 73000 하이웨이 111 및 42035 워싱턴 스트리트, 팜 데저트의 39580 워싱턴 스트리트, 인디오의 82900 애비뉴 42 C에 위치한 지점이 포함됩니다. 이 확장을 기념하기 위해 CB&T는 2025년 3월 24일 오후 1시부터 3시까지 새롭게 전환된 팜 데저트 지점에서 그랜드 오프닝 축하 행사를 개최할 예정입니다.
CB&T의 사장 겸 CEO인 에릭 엘링센은 지역에 대한 은행의 헌신을 강조하며 개인화된 금융 솔루션을 제공하는 데 집중하고 있습니다. 은행은 코첼라 밸리 파이어버즈, 패션 위크 엘 파세오, 팜 데저트 푸드 앤 와인 페스티벌과의 파트너십을 통해 지역 사회 참여를 유지하고 있습니다.
California Bank & Trust (CB&T) a élargi sa présence dans la vallée de Coachella grâce à l'acquisition réussie des opérations bancaires californiennes de FirstBank. L'intégration comprend quatre agences récemment converties dans la région, renforçant la présence de CB&T dans la zone depuis 20 ans.
L'expansion comprend des agences situées au 73000 Highway 111 et au 42035 Washington Street à Palm Desert, au 39580 Washington Street à Palm Desert et au 82900 Avenue 42 C à Indio. Pour célébrer cette expansion, CB&T organisera une grande cérémonie d'ouverture le 24 mars 2025, de 13h à 15h, dans sa nouvelle agence convertie de Palm Desert.
Le Président et CEO de CB&T, Eric Ellingsen, a souligné l'engagement de la banque envers la région, en se concentrant sur la fourniture de solutions financières personnalisées. La banque maintient son implication communautaire à travers des partenariats avec les Coachella Valley Firebirds, la Fashion Week El Paseo et le Palm Desert Food & Wine Festival.
California Bank & Trust (CB&T) hat ihre Präsenz im Coachella Valley durch die erfolgreiche Übernahme der kalifornischen Bankgeschäfte von FirstBank ausgeweitet. Die Integration umfasst vier neu umgebaute Filialen in der Region und stärkt die 20-jährige Präsenz von CB&T in der Gegend.
Die Expansion umfasst Filialen in der 73000 Highway 111 und 42035 Washington Street in Palm Desert, 39580 Washington Street in Palm Desert und 82900 Avenue 42 C in Indio. Um diese Expansion zu feiern, veranstaltet CB&T am 24. März 2025 von 13 bis 15 Uhr eine große Eröffnungsfeier in seiner neu umgebauten Filiale in Palm Desert.
Der Präsident und CEO von CB&T, Eric Ellingsen, betonte das Engagement der Bank für die Region und konzentriert sich darauf, personalisierte Finanzlösungen anzubieten. Die Bank pflegt ihr Engagement in der Gemeinschaft durch Partnerschaften mit den Coachella Valley Firebirds, der Fashion Week El Paseo und dem Palm Desert Food & Wine Festival.
- Expansion of market presence through acquisition of 4 new branches
- Retention of existing FirstBank employees maintaining local expertise
- Enhanced service capability in the Coachella Valley region
- Strategic growth in an established market with 20+ years presence
- None.
Insights
California Bank & Trust's (CB&T) expansion in the Coachella Valley represents a strategic enhancement of its regional footprint following the acquisition of FirstBank's California operations. The integration adds four newly converted branches to complement CB&T's existing locations in the region, where they've maintained a presence for over 20 years.
What's notable about this expansion is CB&T's retention strategy - maintaining continuity with the same bankers who previously served these communities. This approach typically helps preserve customer relationships during transitions, which is crucial for maintaining deposit bases and loan portfolios post-acquisition.
For parent company Zions Bancorporation (ZION), this move aligns with traditional community banking expansion models, focusing on physical presence and local relationship building rather than purely digital growth strategies. The announcement demonstrates CB&T's commitment to the branch-based banking model in specific growth markets, even as many competitors reduce their physical footprint.
While the financial terms of the acquisition aren't disclosed, making it difficult to assess the direct impact on ZION's overall performance, the expansion signals confidence in the Coachella Valley market and demonstrates ZION's continued execution of targeted growth strategies through its California subsidiary.
The community is invited to celebrate at Grand Opening event on March 24
"Our growth in the Coachella Valley reflects our deep dedication to this vibrant region," said CB&T President and CEO Eric Ellingsen. "By welcoming new clients and employees through this transition, we're enhancing our ability to deliver personalized financial solutions from one of the best and most experienced team of bankers. We look forward to celebrating our expanded presence with the community and continuing to foster economic growth across the Valley."
Grand Opening Celebration on March 24
CB&T will host a Grand Opening Celebration on Monday, March 24, from 1 to 3 p.m. at its newly converted
- Ribbon-cutting ceremony at 1:30 p.m.
- Remarks from CB&T executives and local civic leaders
- Complimentary light refreshments
- Special appearance by Coachella Valley Firebirds mascot, Fuego
- Exciting giveaways, including Stagecoach Festival passes, Coachella Valley Firebirds hockey tickets and more
The event is free and open to the public.
Seamless transition for clients and expanded local services
CB&T is committed to a seamless transition for both customers and employees, maintaining the highest standards of customer service and support throughout the process. The newly converted branches include:
- 73000 Highway 111,
Palm Desert - 42035 Washington Street,
Palm Desert - 39580 Washington Street,
Palm Desert - 82900 Avenue 42 C,
Indio
With this expansion, CB&T builds upon its more than 20-year history in the Coachella Valley, complementing its existing branches at:
- 80250 Highway 111, Suite 101C, Indio
- 73301 Highway 111, Suite 100,
Palm Desert
"When you visit our new branches, you'll see familiar faces—bankers who have already been serving this community for years," said CB&T Executive Vice President and Regional President Steve Stuckey. "Our goal was to make this transition seamless for our clients, and we're excited to deepen our local relationships while expanding our financial products and services throughout the Coachella Valley."
A stronger commitment to the Coachella Valley community
CB&T is not only expanding its physical presence but also deepening its investment in the Coachella Valley through ongoing community partnerships. As a proud supporter of the Coachella Valley Firebirds, Fashion Week El Paseo, and the Palm Desert Food & Wine Festival, CB&T continues to play an active role in fostering local culture and economic vitality. Additionally, CB&T remains committed to the Desert Community Foundation and its annual CV Giving Day initiative.
"We take pride in being a true community partner," added Stuckey. "As a regional bank with a local focus, we understand that the strength of a community lies in its people, businesses, and shared experiences. We're excited to continue building meaningful relationships and supporting the Valley's long-term success."
For more information on CB&T's commitment to empowering
About California Bank & Trust (CB&T):
Headquartered in
CB&T has earned consistent recognition, including being voted:
- "Best Bank" by San Diego Union-Tribune readers for 14 consecutive years
- "Best Commercial Bank" for 11 years running
- "Best Bank" in The Orange County Register and Sacramento Bee readership polls
CB&T is a division of Zions Bancorporation, N.A. (NASDAQ: ZION) and has been recognized for its excellence in Middle-Market and Small Business banking by Coalition Greenwich Best Bank Awards.
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SOURCE Zions Bancorporation
FAQ
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