California Bank & Trust Celebrates Anniversary
By Making Community Grants StatewideOAKLAND, Calif., Sept. 30 /PRNewswire/ -- On Thursday, October 2,
California Bank & Trust (CB&T) will commemorate its 50th anniversary
celebration by continuing its 2003 yearlong plan to distribute $500,000 in
grants to community organizations dedicated to economic development
initiatives throughout California.
The funds are earmarked for nonprofit, tax-exempt 501 (c)3 and 501 (c)6
organizations that have broad local support, address specific community needs
and demonstrate fiscal and administrative stability in communities where CB&T
has a branch banking presence.
"In this special year, we take pride in providing funds for programs that
benefit local residents and businesses," said Mike Mantle, executive vice
president and executive director of the bank's Retail & Business Banking and
Community Development divisions. "These grants, for outreach, lending and
community investment, will help ensure that opportunity exists for families
and businesses in the areas we serve," Mantle said.
Thursday's event will feature the awarding of grants to 17 Bay Area
community organizations. So far this year, CB&T has distributed funds in San
Diego, Sacramento and the Central Valley. Grants for Los Angeles and Orange
County organizations will be awarded later this year. (See Addendum attached
-- "California Bank & Trust 50-Year Anniversary Community Grants for 2003,
Listed by Region and Organization.")
A 50-Year Heritage of Community Banking
CB&T traces its history back to 1953, when then-Sumitomo Bank of
California (SBC) began branch operations in the state. CB&T was created in
1998 when SBC merged with Grossmont Bank of San Diego County to become CB&T.
Through subsequent acquisitions, CB&T has grown to be the sixth-largest
commercial bank headquartered in California with nearly $9 billion in assets.
These acquisitions include:
* First Pacific National Bank in North San Diego and Riverside counties
in 1998.
* Regency Bancorp in the Central Valley in 1999.
* Eldorado Bank (Orange County) and Antelope Valley Bank (High Desert)
in 2001.
From its beginning, CB&T made community development a top priority,
devoting significant resources to supporting organizations that target
affordable housing, small business and micro-enterprise development, economic
development and other services that revitalize or stabilize low- and
moderate-income communities in the state.
CB&T has been lauded repeatedly for its community efforts. In 2002, CB&T
received a rating of "Outstanding" by the Federal Deposit Insurance
Corporation (FDIC) for its record of making loans to, investing in and serving
under-served communities. This rating is the FDIC's highest classification
for compliance with the Community Reinvestment Act (CRA).
In total, CB&T has more than 90 branch offices statewide. For its 2001
and 2002 fiscal years, the U.S. Small Business Administration (SBA) recognized
CB&T as the number three SBA lender in California and, in 2002, honored CB&T
with the Advocate Lending Award for efforts aimed at African American and
Native American firms. The agency also has designated CB&T as a "Preferred
SBA Lender."
Community Commitment: A Core CB&T Value
Supplementing the bank's accomplishments in supporting neighborhood
service organizations and small business lending, many CB&T employees play an
active role on community boards, associations and committees, while CB&T
bankers provide a conduit to financing programs for civic organizations and
small businesses.
"In a few short years, CB&T has distinguished itself by delivering a level
of personal service usually associated with smaller community banks," Mantle
said. "Our commitment to local decision-making gives local bankers the
authority and resources to provide responsive service for the unique needs of
individuals, businesses and community organizations."
For more information, visit www.calbanktrust.com/50yeargrant .
California Bank & Trust, a subsidiary of Zions Bancorporation
(Nasdaq: ZION), is one of the largest banks based in the State of California
with nearly $9 billion in assets and more than 90 branch offices. With local
management and decision-making and an emphasis on relationship banking, CB&T
provides products, resources and financing solutions for businesses and
individuals, including wealth management, Internet banking, commercial and
small business lending, cash management and international banking. Visit
CB&T's Web site at www.calbanktrust.com .
Zions Bancorporation is one of the nation's premier financial services
companies, consisting of a collection of great banks in select high growth
markets. Under local management teams and community identities, Zions
operates over 400 full-service banking offices in Arizona, California,
Colorado, Idaho, Nevada, New Mexico, Utah and Washington. In addition, Zions
is a national leader in SBA lending, public finance advisory services,
agricultural finance and electronic bond trading. The company is included in
the S&P 500 Index. Investor information and links to subsidiary banks can be
accessed at www.zionsbancorporation.com .
Addendum
California Bank & Trust 50-Year Anniversary Community Grants for 2003
Listed by Region and Organization
San Diego
ACCION San Diego
Casa Familiar
City Heights Community Development Corporation
Community Housing Works
East County Economic Development Center
Local Initiative Support Corporation-San Diego (LISC)
Metropolitan Area Advisory Committee (MAAC)
San Diego Home Loan Counseling
San Diego Youth & Community Services
Small Business Development & International Trade Center
Los Angeles & Orange County
Cabrillo Economic Development Corporation
Community Financial Resource Center
Little Tokyo Service Center
Local Initiative Support Corporation-Los Angeles (LISC)
Los Angeles Local Development Corporation
Los Angeles Neighborhood Housing Services
Neighborhood Housing Services of Orange County
Neighborhood Partnership of Montclair
New Economics for Women
Southern California Association of Non-Profit Housing (SCANPH)
Valley Economic Development Corporation
Bay Area
Asian Neighborhood Design
Bernal Heights Neighborhood Center
California Association for Microenterprise (CAMEO)
California Community Economic Development Association (CEDA)
East Bay Asian Local Development Corporation
East Palo Alto Alliance Neighborhood Development (EPA CAN DO)
Local Initiative Support Corporation-San Francisco (LISC)
Low Income Investment Fund
National Association of Women Business Owners (NAWBO)
Oakland Business Development Corporation
One Economy Corporation
Operation Access
Richmond District Neighborhood Center
Sacramento
Mercy Housing
Sacramento Neighborhood Housing Services
Central Valley
Hmong American Self-Help Health and Housing Project
SOURCE California Bank & Trust
-0- 09/30/2003
/CONTACT: Steve Borg, +1-510-627-7955, borgs@calbt.com, or Chuck Laham,
+1-858-793-7481, lahamc@calbt.com, both of California Bank & Trust/
/Web site: http://www.calbanktrust.com/50yeargranthttp://www.calbanktrust.comhttp://www.zionsbancorporation.com /
(ZION)
CO: California Bank & Trust; Zions Bancorporation
ST: California
IN: FIN
SU: NPT AWD
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3441 09/30/200318:01 EDThttp://www.prnewswire.com