Bank of the West
   HOME

TheInfoList



OR:

Bank of the West is an American
financial institution Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial insti ...
headquartered in
San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...
,
California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
, United States. It is a
subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...
of the French international banking group
BNP Paribas BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...
and has more than 600
branches A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually ...
and offices in the
Midwest The Midwestern United States, also referred to as the Midwest or the American Midwest, is one of four Census Bureau Region, census regions of the United States Census Bureau (also known as "Region 2"). It occupies the northern central part of ...
and
Western United States The Western United States (also called the American West, the Far West, and the West) is the region comprising the westernmost states of the United States. As American settlement in the U.S. expanded westward, the meaning of the term ''the Wes ...
.


History

Bank of the West began as Farmers National Gold Bank of San Jose,
California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
, in 1874. When all bank notes became convertible to gold or silver in 1880, the bank converted from a gold national bank and changed its name to the First National Bank of San Jose, California. In 1970, Banque Nationale de Paris (BNP) established the French Bank of California. Later that decade, First National Bank of San Jose changed its name to Bank of the West. In 1979, BNP bought Bank of the West and merged in the French Bank of California. The bank owned 35 locations and $350 million in assets. Throughout the 1980s and 1990s, Bank of the West bought several other banks and branches. In 1987, Bank of the West bought Bank of Los Gatos.Bank of Los Gatos had been founded in 1883. When Bank of the West bought it in 1987, it had failed. This was followed by the 1990 purchase of Central Banking Systems; the 1991 purchase of 30 branches in
northern California Northern California (colloquially known as NorCal) is a geographic and cultural region that generally comprises the northern portion of the U.S. state of California. Spanning the state's northernmost 48 counties, its main population centers incl ...
from failed Imperial Savings and Loan; the 1992 purchase of Atlantic Financial Federal Savings Bank from the
Resolution Trust Corporation The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets ...
; the 1993 purchase of 15 branches in northern California from
Citibank Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...
for $360 million; the 1995 purchase of NorthBay Savings Bank, headquartered in
Petaluma, California Petaluma (Miwok languages, Miwok: ''Péta Lúuma'') is a city in Sonoma County, California, Sonoma County, California, located in the North Bay (San Francisco Bay Area), North Bay region of the San Francisco Bay Area. Its population was 59,776 a ...
; and the 1997 purchase of branches from
Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...
and Coast Federal Bank. In 1995,
First Hawaiian Bank First Hawaiian, Inc. is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858, is Hawaii’s oldest and largest financial institution headquartered in Honolulu, Hawaii, at the Firs ...
established Pacific One Bank to hold 30 branches in
Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...
,
Oregon Oregon () is a U.S. state, state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington (state), Washington, while the Snake River delineates much of it ...
, and
Idaho Idaho ( ) is a state in the Pacific Northwest region of the Western United States. To the north, it shares a small portion of the Canada–United States border with the province of British Columbia. It borders the states of Montana and Wyom ...
that it acquired from West One Bank when that bank was acquired by U.S. Bancorp and had to divest certain assets, due to the number of preexisting branches of U.S. Bank in the region. Three years later, in 1998, BNP and First Hawaiian Inc., the parent of First Hawaiian Bank and Pacific One Bank, created a company under the BancWest Bancorp name to hold Bank of the West and First Hawaiian Bank, with Bank of the West absorbing Pacific One. The creation of BancWest Bancorp caused the now-called BNP Paribas's (BNPP) ownership of the holding company to fall to 45%. BNPP also agreed not to increase its ownership of the bank holding company before November 2001. In 1999, Bank of the West bought Sierra West Bancorp. This transaction temporarily diluted BNP's ownership of the holding company to 42%. In May 2000, BNP and Paribas merged to form BNP Paribas. In 2001, as part of the regulatory approval process with Wells Fargo Banks's acquisition of First Security Corp., Bank of the West acquired 23 First Security branches in New Mexico and seven First Security branches in Nevada to avoid
antitrust Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust l ...
issues with overlapping Wells Fargo operations. Also in 2001, First Hawaiian Bank bought Union Bank of California's branches in
Guam Guam (; ch, Guåhan ) is an organized, unincorporated territory of the United States in the Micronesia subregion of the western Pacific Ocean. It is the westernmost point and territory of the United States (reckoned from the geographic cent ...
and
Saipan Saipan ( ch, Sa’ipan, cal, Seipél, formerly in es, Saipán, and in ja, 彩帆島, Saipan-tō) is the largest island of the Northern Mariana Islands, a Commonwealth (U.S. insular area), commonwealth of the United States in the western Pa ...
. First Hawaiian had established its first branch in
Guam Guam (; ch, Guåhan ) is an organized, unincorporated territory of the United States in the Micronesia subregion of the western Pacific Ocean. It is the westernmost point and territory of the United States (reckoned from the geographic cent ...
in 1970 and its first branch in
Saipan Saipan ( ch, Sa’ipan, cal, Seipél, formerly in es, Saipán, and in ja, 彩帆島, Saipan-tō) is the largest island of the Northern Mariana Islands, a Commonwealth (U.S. insular area), commonwealth of the United States in the western Pa ...
in 1997. (Union Bank of California had established its branch in Guam in 1974.) In May 2001, the independent directors of BancWest Bancorp established a special committee that then unanimously voted to accept BNP's offer to acquire the remaining 55% of BancWest Bancorp, making the holding company a wholly owned subsidiary of BNP. The year 2001 concluded with the December purchase by Bank of the West of United California Bank from Japan's
UFJ Bank UFJ, which stands for the United Financial of Japan, is used in the former companies of UFJ Bank, UFJ Group, and UFJ Holdings. These related institutions disappeared after the merger of The Bank of Tokyo-Mitsubishi and UFJ Bank in 2005. UFJ Bank ...
. In March 2004, Bank of the West announced the purchase of Community First Bankshares, a bank holding company that operated Community First National Bank, headquartered in
Fargo, North Dakota Fargo ( /ˈfɑɹɡoʊ/) is a city in and the county seat of Cass County, North Dakota, United States. According to the 2020 census, its population was 125,990, making it the most populous city in the state and the 219th-most populous city in ...
, which had 155 offices in 12 states:
Arizona Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...
, California,
Colorado Colorado (, other variants) is a state in the Mountain West subregion of the Western United States. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the western edge of t ...
,
Iowa Iowa () is a state in the Midwestern region of the United States, bordered by the Mississippi River to the east and the Missouri River and Big Sioux River to the west. It is bordered by six states: Wisconsin to the northeast, Illinois to the ...
,
Minnesota Minnesota () is a state in the upper midwestern region of the United States. It is the 12th largest U.S. state in area and the 22nd most populous, with over 5.75 million residents. Minnesota is home to western prairies, now given over to ...
,
Nebraska Nebraska () is a state in the Midwestern region of the United States. It is bordered by South Dakota to the north; Iowa to the east and Missouri to the southeast, both across the Missouri River; Kansas to the south; Colorado to the southwe ...
,
New Mexico ) , population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano) , seat = Santa Fe , LargestCity = Albuquerque , LargestMetro = Tiguex , OfficialLang = None , Languages = English, Spanish ( New Mexican), Navajo, Ker ...
,
North Dakota North Dakota () is a U.S. state in the Upper Midwest, named after the Native Americans in the United States, indigenous Dakota people, Dakota Sioux. North Dakota is bordered by the Canadian provinces of Saskatchewan and Manitoba to the north a ...
,
South Dakota South Dakota (; Sioux language, Sioux: , ) is a U.S. state in the West North Central states, North Central region of the United States. It is also part of the Great Plains. South Dakota is named after the Lakota people, Lakota and Dakota peo ...
,
Utah Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...
,
Wisconsin Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...
, and
Wyoming Wyoming () is a U.S. state, state in the Mountain states, Mountain West subregion of the Western United States. It is bordered by Montana to the north and northwest, South Dakota and Nebraska to the east, Idaho to the west, Utah to the south ...
. Soon after, Bank of the West agreed to buy USDB Bancorp, the parent of Union Safe Deposit Bank. In December 2005, Bank of the West bought Commercial Federal Corporation of
Omaha, Nebraska Omaha ( ) is the largest city in the U.S. state of Nebraska and the county seat of Douglas County. Omaha is in the Midwestern United States on the Missouri River, about north of the mouth of the Platte River. The nation's 39th-largest cit ...
. This merger added offices in Arizona, Colorado, Iowa,
Kansas Kansas () is a state in the Midwestern United States. Its capital is Topeka, and its largest city is Wichita. Kansas is a landlocked state bordered by Nebraska to the north; Missouri to the east; Oklahoma to the south; and Colorado to the ...
,
Missouri Missouri is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it is bordered by eight states (tied for the most with Tennessee ...
, Nebraska, and
Oklahoma Oklahoma (; Choctaw language, Choctaw: ; chr, ᎣᎧᎳᎰᎹ, ''Okalahoma'' ) is a U.S. state, state in the South Central United States, South Central region of the United States, bordered by Texas on the south and west, Kansas on the nor ...
to Bank of the West. In January 2006, Bank of the West opened a representative office in
Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.468 ...
,
Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...
, and in September 2007, it opened a representative office in
Taipei Taipei (), officially Taipei City, is the capital and a special municipality of the Republic of China (Taiwan). Located in Northern Taiwan, Taipei City is an enclave of the municipality of New Taipei City that sits about southwest of the n ...
,
Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the nort ...
. As of June 2016, Bank of the West's CEO is Nandita Bakshi In December 2021, BNP Paribas agreed to sell Bank of the West to the Canadian banking group
BMO Financial Group The Bank of Montreal (BMO; french: Banque de Montréal, link=no) is a Canadian multinational investment bank and financial services company. The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank; while its head office remains in ...
. BMO then intends to merge Bank of the West with its existing U.S. subsidiary
BMO Harris Bank BMO Harris Bank, N.A. is an American bank based in Chicago, Illinois. It is a member of the Federal Reserve System and operates branches in the states of Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, Wisconsin, and California ...
, which would at least double BMO's total presence in the United States.


See also

* Lloyds Bank California


Notes


References


External links

*
BNP Paribas Bank

Bank of the West Classic
- Tennis tournament {{DEFAULTSORT:Bank Of The West Banks established in 1874 Banks based in California BNP Paribas Companies based in San Francisco Economy of the Western United States Financial District, San Francisco American subsidiaries of foreign companies