Tag Archives: California Bank & Trust
California Bank & Trust is pleased to announce that it has completed the conversion of the former Vineyard Bank accounts and branch locations into California Bank & Trust. More than 31,000 loan and deposit accounts have been fully integrated into the California Bank & Trust banking system. California Bank & Trust acquired the deposits and loans of Vineyard Bank from the Federal Deposit Insurance Corporation on July 17, 2009.
“The conversion of Vineyard Bank branches and accounts to California Bank & Trust went very smoothly. We look forward to working with our new customers and providing them with quality financial products, excellent customer service as well as the strength and security of a sound financial institution,” said Frank Lee, executive vice president of the retail business banking division at California Bank & Trust. Read More
California Bank & Trust (CB&T) officials announced July 17, 2009 that the bank has acquired the banking operations of Vineyard Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). The transaction includes $1.4 billion in loans and $1.5 billion of deposits, which includes all current deposits, both insured and uninsured, except brokered deposits. Vineyard Bank, headquartered in Corona, operated 16 branches, mainly in eastern Los Angeles County and western San Bernardino County. Under the terms of this transaction, CB&T will enter into a loss sharing agreement with the FDIC on all loans and real estate owned. Read More
California Bank & Trust (CB&T) officials announced February 6, 2009 that the bank has agreed to acquire the banking operations, including all of the deposits, of Alliance Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC.) Alliance Bank operates five full service branches located in Irvine, Culver City, Woodland Hills, Burbank and West Los Angeles.
Bank branches previously owned and operated by Alliance Bank, headquartered in Culver City, will reopen on Monday morning as California Bank & Trust branches. Read More
California Bank & Trust (CB&T) (www.calbanktrust.com) is pleased to announce that it has again been awarded an outstanding rating from the Federal Deposit Insurance Corporation (FDIC) in an examination that rated the institution’s community reinvestment activities. The examination review, which began in May, was recently completed and the ratings announced.
The Community Reinvestment Act of 1977 states: “Regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business; the convenience and needs of communities include the need for credit services as well as deposit services; and regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.” Read More