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M&A Deal Summary

California Bank & Trust Acquires The Sumitomo Bank of California

On October 1, 1998, California Bank & Trust acquired financial services company The Sumitomo Bank of California for 546M USD

Acquisition Highlights
  • This is California Bank & Trust’s 1st transaction in the Financial Services sector.
  • This is California Bank & Trust’s largest (disclosed) transaction.
  • This is California Bank & Trust’s 1st transaction in the United States.
  • This is California Bank & Trust’s 1st transaction in California.

M&A Deal Summary
Date 1998-10-01
Target The Sumitomo Bank of California
Sector Financial Services
Buyer(s) California Bank & Trust
Deal Type Add-on Acquisition
Deal Value 546M USD
Advisor(s) Goldman Sachs (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

The Sumitomo Bank of California

San Francisco, California, United States
The Sumitomo Bank of California provides trust banking and other financial services. It also offers a wide range of investment products and securities lending.

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Buyer(S) 1

Buyer

California Bank & Trust

San Diego, California, United States
Category Company
Founded 1972
Sector Financial Services
DESCRIPTION

California Bank & Trust is best known for its experienced bankers. They can help you with your business banking, commercial banking, and personal banking needs. One of the most respected banks in California.We take great pride in delivering the personalized service you'd expect from a local community bank, but offer all the comprehensive solutions available at major financial institutions

DEAL STATS #
Overall 1 of 4
Sector: Financial Services M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 4
State: California M&A 1 of 3
Country: United States M&A 1 of 4
Year: 1998 M&A 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-06 Regency Bank

Fresno, California, United States

Regency Bank offers commercial banking services,which includes acceptance of demand, savings, and time deposits; and making commercial, real estate, small business administration, personal, home improvement, automobile, and other installment and term loans.

Buy $63M
Mergr

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