California Bank & Trust Expands Coachella Valley Presence with FirstBank Branch Acquisitions

California Bank & Trust, a subsidiary of Zions Bancorporation, announced on Monday its plans to acquire four FirstBank branches located in Palm Desert and Indio, California. This strategic move will significantly bolster California Bank & Trust’s presence in the Coachella Valley region.

The agreement encompasses approximately $730 million in deposits and $420 million in loans held by the four FirstBank branches. The acquisition is expected to be finalized upon regulatory approval and customary closing conditions.

Morgan Stanley & Co LLC is serving as financial advisor to FirstBank throughout this transaction. Further details about the deal’s financial terms have not been publicly disclosed.

This expansion reflects California Bank & Trust’s commitment to strengthening its position in key California markets and enhancing its ability to serve customers in the growing Coachella Valley.