“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.

In addition to the 13 new full-service branches now available as a result of the conversion, former Vineyard Bank business customers will now have access to time saving cash management products like California Bank & Trust’s Remote Deposit. Remote Deposit enables a business to scan paper checks directly from the office and transmit those images to the bank via a secure internet connection. This and many other business banking-focused products are the hallmark of the financial services California Bank & Trust delivers on a daily basis.

With the completion of the Vineyard Bank conversion, California Bank & Trust now has 113 branches within the state of California, which include newly converted branches in San Rafael, Rancho Cucamonga, Diamond Bar, La Verne, Corona, Irwindale, Chino, San Dimas, Lake Arrowhead, Covina, Upland, Walnut and Crestline.

Bank branches previously operated by Vineyard Bank will reopen on Saturday or Monday, according to their prior normal operating hours, as branches of California Bank & Trust.

“We welcome all Vineyard Bank customers to California Bank & Trust,” said David Blackford, chief executive officer of CB&T. “We want to assure all branch customers that their deposits are safe and fully accessible using their existing account numbers, checks, debit and ATM cards. These accounts will be automatically converted into standard CB&T deposit accounts in an orderly manner. California Bank & Trust prides itself in having a strong balance sheet and capital ratios. We offer a full range of personal and business banking products and services. We look forward to building strong relationships with all current Vineyard customers.”

*Artwork from s337c under Creative Commons license at Flickr.com.

ZIONS BANCORPORATION AND AFFILIATES IN THE NEWS |

Regional and national publications and community leaders have once again turned to Zions Bancorporation and affiliate executives to help give understanding and perspective about our current economic environment. See the links below for more information.

Les Roka of Utah CEO Magazine writes in “Clear the Fog from Annual Reports” of CEO Harris Simmons’ “straightforward approach” when speaking with shareholders.

February 27, 2009
“With a sputtering economy and soaring unemployment numbers, some may question whether now is a good time to be starting a new business. Scott Anderson, President and CEO of Zions Bank, wants to ensure that it is.”

February 12, 2009
George Feiger tells SNL Financial that while funds of funds have been outperforming the market, “they have broken the promise that they won’t go down.”

February 7, 2009
Mike Freeman at The San Diego Union-Tribune reports that “California Bank & Trust will acquire the branches, deposits and loan pool of Alliance Bank.”

January 23, 2009
George Feiger expects economic losses to continue through 2009, the Daily Camera reported.

December 2008
Vectra Bank President and CEO Bruce Alexander tells Jeff Rundles that Vectra is continuing to “make loans” while “being careful and prudent.”

December 5, 2008
Brice Wallace of the Deseret News quotes Contango CEO George Feiger when writing that “the longterm ramifications of the downturn will ‘reshape the topography’ of American retail.”

December 18, 2008
Bruce Alexander, President/CEO, Vectra Bank Colorado, has been picked to take part in a leadership team to “help draft an economic stimulus plan for Denver.”

November 14, 2008
Katie Kuehner-Hebert of American Banker quotes from CFO Doyle Arnold’s presentation at a Merrill Lynch & Co. conference, during which he discussed Zions participation in the Treasury Department’s Capital Purchase Program (article: “Treasury Funds Secured, Zions Looks Outward”)

*Artwork created by City On Fire at Flickr.com.

CALIFORNIA BANK & TRUST ACQUIRES ALLIANCE BANK |

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.

“Our first order of business is to welcome Alliance Bank customers to California Bank & Trust and to assure them their deposits are safe and readily accessible,” said David Blackford, chief executive officer of California Bank & Trust. “Their deposits will automatically transition to California Bank & Trust effective immediately and it will be business as usual when we re-open on Monday morning. We look forward to welcoming Alliance Bank customers. California Bank & Trust has a healthy balance sheet, supported by strong capital and liquidity levels. These factors combined with increased access to more products and services at branches throughout the state will enable us to better serve all of the banking needs of former Alliance customers.”

Blackford also sees this acquisition as an opportunity to provide additional locations and convenience to existing customers of California Bank & Trust.

California Bank & Trust, a wholly owned subsidiary of Zions Bancorporation, has approximately $10 billion in assets. Prior to acquiring the Alliance Bank branches, California Bank & Trust had 90 freestanding branches in California. As new clients of California Bank & Trust, Alliance Bank customers will have full access to CB&T’s wide array of deposit and loan products once consolidation occurs.

Customers of Alliance Bank should continue to use their existing branches, checks, ATM or Debit Cards. If former Alliance Bank customers have any questions regarding their accounts involved in this transaction, they should continue to use the same channels as they have in the past including contacting their local branch.

The transaction includes approximately $951 million of deposits and $1.14 billion of assets, including the loan portfolio of Alliance Bank. “Under the terms of the transaction, the FDIC will make an initial payment to California Bank & Trust and assume 80% of the first $275 million of credit losses. Any credit losses in excess of $275 million are borne 95% by the FDIC. “Based on a recent credit due diligence conducted by California Bank & Trust, we anticipate total credit losses are likely to be between $200 and $225 million,” said Blackford.

About California Bank & Trust
California Bank & Trust, a subsidiary of Zions Bancorporation (NASDAQ: ZION), is one of the leading banks headquartered in California with over $10 billion in assets and 90 offices statewide. With local management and decision-making and an emphasis on relationship banking, CB&T provides a full range of financial solutions and resources for businesses and individuals, ranging from cash management and international banking to commercial and small business lending and online banking.

California Bank & Trust Press Release – February 6, 2009

*Artwork from Coca-Cola Art Gallery under a Creative Commons license at Flickr.com.

CALIFORNIA BANK & TRUST AWARDED OUTSTANDING
FDIC COMMUNITY REINVESTMENT ACT (CRA) RATING |

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.”

California Bank & Trust partners with nonprofit agencies in each branch community to identify the economic issues and unique needs of each neighborhood. By using this approach, CB&T has been able to focus on meeting the credit needs of both individuals and businesses through community-specific lending initiatives. During the period last reviewed by the FDIC CRA exam, CB&T originated over $250 million in community development loans and its CRA qualified investments totaled $78 million. Additionally, CB&T employees completed over 6,500 hours of community service during the exam period.

“California Bank & Trust has grown along with the communities we serve,” said David Blackford, chief executive officer of California Bank & Trust. “We realize that continued community growth requires continued investment of both time and financial resources. CB&T’s outstanding CRA rating is confirmation that we have taken the correct approach to community development.”

Company Release – 12/02/200

*Artwork from City On Fire under a Creative Commons license at Flickr.com.