California Bank & Trust Acquires Assets and Deposits of Vineyard Bank

California Bank & Trust (CB&T) officials announced today 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.

Bank branches previously operated by Vineyard Bank will reopen on Saturday or Monday, according to their prior normal operating hours, as branches of California Bank & Trust.

“We welcome all Vineyard Bank customers to California Bank & Trust,” said David Blackford, chief executive officer of CB&T. “We want to assure all branch customers that their deposits are safe and fully accessible using their existing account numbers, checks, debit and ATM cards. These accounts will be automatically converted into standard CB&T deposit accounts in an orderly manner. California Bank & Trust prides itself in having a strong balance sheet and capital ratios. We offer a full range of personal and business banking products and services. We look forward to building strong relationships with all current Vineyard customers.”

California Bank & Trust operates 93 branches and seven loan production offices statewide. Last February, it acquired the banking assets and deposits of Alliance Bank, Culver City. CB&T, a wholly owned subsidiary of Zions Bancorporation (NASDAQ:ZION), has $10 billion in total assets and $8.5 billion of deposits.

About California Bank & Trust

California Bank & Trust, a subsidiary of Zions Bancorporation (NASDAQ: ZION), is one of the largest banks headquartered in California with over $10 billion in assets and 93 branches statewide. With local management and decision-making as well as an emphasis on relationship banking, CB&T provides financial solutions for businesses and individuals that include commercial as well as small business lending, cash management, international banking, wealth management and online banking. Learn more at www.calbanktrust.com.