Mellon Bank & Trust has launched in Riverside, California, according to a company press release, establishing a new business focused on holdings in banking and real estate.

The company said it intends to operate a range of holdings, from banks to real estate ventures, and to create value for shareholders. The release did not provide details on its initial capital, planned acquisitions, staffing, regulatory approvals, services, or opening timeline beyond the announcement that it had opened its doors.

The new firm is associated with Andrew Mellon, who holds no public office. A summary of Mellon’s background describes him as an entrepreneur focused on building systems and turning them into profitable enterprises.

Riverside’s selection places the company in California, where financial services and real estate remain major areas of economic activity. Mellon Bank & Trust did not identify specific properties, financial institutions, customers, or markets it plans to pursue.

The announcement arrives amid a broader run of business expansion news in several cities, including recent statements about new ventures and growth plans in Dallas, Detroit, Sacramento and Jacksonville. Those announcements, like Mellon Bank & Trust’s release, have emphasized expansion and investment but have varied in the level of operational detail disclosed.

For now, the company’s public plans remain limited to its stated goal of building a portfolio spanning banking and real estate. Further information on its structure, investments and local operations has not been announced.