Banks Merging In The Desert
September 25, 2024 5:32PM PDT
Customer writing a check at bank counter.
Photo from Alpha Media Portland OR
More bank mergers. After this summer’s activity, when Banc of California took over struggling Pacific Western Bank, we now have California Bank & Trust acquiring four branch locations of FirstBank in Palm Desert and Indio.
Under the agreement, California Bank & Trust will acquire approximately $730 million in deposits and $420 million in loans from FirstBank.
When the deal is done, California Bank and Trust will have six locations in the Coachella Valley.
This summer, three locations of Pacific Western Bank in Palm Springs, Cathedral City and Indian Wells, became branches of the Banc of California.
Customer writing a check at bank counter.
Photo from Alpha Media Portland OR
