Tag Archives: Vineyard Bank
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