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.…