Bank of the West

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Bank of West is a regional financial services company, headquartered in San Francisco, California. It is a subsidiary of BNP Paribas. It has more than 600 branches and offices in the Midwest and the Western United States.

Video Bank of the West

Histori

Bank of West began as a National Gold Bank Farmer in San Jose, California, in 1874. When all bank records became convertible into gold or silver in 1880, the bank converted from a national gold bank and changed its name to First National Bank of San Jose, California.

In 1970, the Banque Nationale de Paris (BNP) established the French Bank of California. Later that decade, the First National Bank of San Jose changed its name to Bank of the West. In 1979, BNP bought Bank of the West and joined the French Bank of California. The bank has 35 locations and $ 350 million in assets.

Throughout the 1980s and 1990s, Bank of West purchased several banks and other branches. In 1987, Bank of West bought Bank of Los Gatos. This was followed by the 1990 purchase of the Central Banking System; purchase 1991 from 30 branches in northern California from unsuccessful Savings and Imperial Loans; purchases of 1992 Federal Savings Bank's Federal Bank of the Corporation's Trust Resolution; 1993 purchase of 15 branches in northern California from Citibank for $ 360 million; 1995 purchase of NorthBay Savings Bank, headquartered in Petaluma, California; and a 1997 branch purchase from Bank of America and Coast Federal Bank.

In 1995, First Hawaiian Bank established Pacific One Bank to have 30 branches in Washington, Oregon and Idaho acquired from West One Bank when the bank was purchased by US Bancorp and must release certain assets, due to the number of pre-existing Bank of America branches in the region. Three years later, in 1998, BNP and First Hawaiian Inc., parent of First Hawaiian Bank and Pacific One Bank, created a company under the name BancWest Bancorp to hold Bank of the West and First Hawaiian Bank, with Bank of the West absorbing Pacific One. The establishment of BancWest Bancorp caused the current BNP Paribas (BNPP) ownership of the parent company to fall to 45%. BNPP also agreed not to increase its ownership of the parent company before November 2001.

In 1999, Bank of West bought Sierra West Bancorp, this transaction reduced the BNPP ownership of the holding company by 42%.

In May 2000, BNP and Paribas merged to form BNP Paribas.

In 2001, as part of the regulatory approval process with the acquisition of First Bank First Security Bank, the Bank of the West acquired 23 First Security branches in New Mexico and seven First Security branches in Nevada to avoid antitrust problems with overlapping Wells Fargo operations. Also in 2001, First Hawaiian Bank purchased the Union Bank of California branches in Guam and Saipan. First Hawaiian had established its first branch in Guam in 1970 and its first branch in Saipan in 1997. (Union Bank of California established its branch in Guam in 1974.) In May 2001, independent directors of BancWest Bancorp formed a special committee which later unanimously voted to accept BNP's offer to acquire 55% of BancWest Bancorp's remaining, making it the wholly owned subsidiary of BNP. The year 2001 ended with a December purchase by Bank of the West of United California Bank of UFJ Bank Japan.

In March 2004, Bank of the West announced the purchase of Community First Bankshares, the parent company of the bank operating the Community First National Bank, headquartered in Fargo, North Dakota, which has 155 offices in 12 states: Arizona, California, Colorado, Iowa, Minnesota, Nebraska, New Mexico, North Dakota, South Dakota, Utah, Wisconsin, and Wyoming. Soon after, Bank of the West agreed to buy USDB Bancorp, the parent of the Union Safe Deposit Bank. In December 2005, the Bank of West purchased the Commercial Federal Corporation of Omaha, Nebraska. This merger adds offices in Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska, and Oklahoma to the Bank of the West.

In January 2006, Bank of West opened a representative office in Tokyo, Japan, and in September 2007, opened a representative office in Taipei, Taiwan.

Maps Bank of the West

See also

• Lloyds Bank California

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Note

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References

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External links

• Official website
• BNP Paribas Bank
• Bank of the West Classic - Tennis Tournament

Source of the article : Wikipedia