California Bank & Trust is acquiring four California branches from Lakewood, Colo.-based FirstBank. .The branches are in the southern California cities of Palm Desert and Indio, in the Coachella Valley north of San Diego. The deal, which includes $730 million in deposits and $420 million in loans, expands California Bank and Trust's branch network to six in the Coachella Valley while adding 15,000 new customers..The branches will continue operating as FirstBank locations until the deal is completed in the first quarter of 2025, at which point they will be rebranded as California Bank & Trust. .California Bank & Trust is a division of $87 billion, Salt Lake City-based Zions Bancorporation..Morgan Stanley & Co. is serving as financial adviser to FirstBank.
California Bank & Trust is acquiring four California branches from Lakewood, Colo.-based FirstBank. .The branches are in the southern California cities of Palm Desert and Indio, in the Coachella Valley north of San Diego. The deal, which includes $730 million in deposits and $420 million in loans, expands California Bank and Trust's branch network to six in the Coachella Valley while adding 15,000 new customers..The branches will continue operating as FirstBank locations until the deal is completed in the first quarter of 2025, at which point they will be rebranded as California Bank & Trust. .California Bank & Trust is a division of $87 billion, Salt Lake City-based Zions Bancorporation..Morgan Stanley & Co. is serving as financial adviser to FirstBank.
