CB & T acquires Alliance Bank

San Diego, February 9: California Bank & Trust (CB&T) officials announced today that the bank has decided to acquire the banking operations, including all of the deposits, of Alliance Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC).

David Blackford, chief executive officer of California Bank & Trust, "our first order of business is to welcome Alliance Bank customers to California Bank & Trust and to assure them their deposits are safe and readily accessible.

"Their deposits will automatically transition to California Bank & Trust effective immediately and it will be business as usual when we re-open on Monday morning. We look forward to welcoming Alliance Bank customers. California Bank & Trust has a healthy balance sheet, supported by strong capital and liquidity levels.”

“These factors combined with increased access to more products and services at branches throughout the state will enable us to better serve all of the banking needs of former Alliance customers." Blackford further added.

California Bank & Trust, a wholly owned subsidiary of Zions Bancorporation, has approximately $10 billion in assets. As new clients of California Bank & Trust, Alliance Bank customers will have full access to CB&T's wide array of deposit and loan products once consolidation occurs.

Bank branches previously owned and operated by Alliance Bank, headquartered in Culver City, will reopen on Monday morning as California Bank & Trust branches.

Customers of Alliance Bank should continue to use their existing branches, checks, ATM or Debit Cards. If former Alliance Bank customers have any questions regarding their accounts involved in this transaction, they should continue to use the same channels as they have in the past including contacting their local branch.