Zions Bancorporation (ZION) division California Bank & Trust said late Monday it has signed an agreement to acquire four branch locations in Palm Desert and Indio from FirstBank.
California Bank & Trust said it will acquire about $730 million in deposits and $420 million in loans.
The acquisition will expand California Bank & Trust's presence in Coachella Valley, California, to six locations, it said.
The deal is expected to be completed in Q1 of 2025, subject to closing conditions and regulatory approval.
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