Zions Bancorp Division CB&T Enters Agreement To Acquire Four Branch Locations In Palm Desert And Indio From FirstBank
Portfolio Pulse from Benzinga Newsdesk
Zions Bancorp's division, California Bank & Trust (CB&T), is set to acquire four branch locations from FirstBank in Palm Desert and Indio. This acquisition involves $730 million in deposits and $420 million in loans, expanding CB&T's presence in Coachella Valley and adding 15,000 new customers.
September 23, 2024 | 8:21 pm
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Zions Bancorp's division, CB&T, is acquiring four branches from FirstBank, which will significantly expand its market share in Coachella Valley. The acquisition includes $730 million in deposits and $420 million in loans, and is expected to close in Q1 2025.
The acquisition will enhance CB&T's market presence and customer base in Coachella Valley, potentially leading to increased revenues and market influence. The addition of $730 million in deposits and $420 million in loans is a significant asset boost.
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