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Stock impact report

CALIFORNIA BANK & TRUST TO ACQUIRE FIRSTBANK COACHELLA VALLEY, CA BRANCHES [Yahoo! Finance]

Zions Bancorporation N.A. (ZION) 
Last zions bancorporation n.a. earnings: 4/20 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: zionsbancorp.com
Company Research Source: Yahoo! Finance
SAN DIEGO Sept. 23, 2024 /PRNewswire/ -- California Bank & Trust (CB&T), a division of Zions Bancorporation, N.A., announced today that it has entered into an agreement to acquire four branch locations in Palm Desert and Indio from FirstBank, headquartered in Lakewood, Colorado . Under the agreement, California Bank & Trust will acquire approximately $730 million in deposits and $420 million in loans. Upon completion, the branch acquisition will expand CB&T's physical presence in Coachella Valley to a total of six locations and will add approximately 15,000 new customers, resulting in a combined 7% market share in Coachella Valley. As part of the agreement, CB&T will welcome the California -based FirstBank employees to its existing team of more than 900 associates. "This transaction provides us a team of accomplished banking professionals, four attractive and well-located branches, a sizable customer base and a great deposit franchise," said CB&T President and CEO Eric Ellingsen . Show less Read more
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