Bank of the West
Encyclopedia
Bank of the West, is a commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...

 which sponsors the Bank of the West Classic
Bank of the West Classic
The Bank of the West Classic is a week-long tennis tournament on the WTA Tour held on the campus of Stanford University in Palo Alto, California, United States. The 2011 event will be held on July 25th to July 31st. Started in 1971, the tournament is the oldest women's-only tournament in the world...

 professional tennis tournament, a U.S. Open
U.S. Open (tennis)
The US Open, formally the United States Open Tennis Championships, is a hardcourt tennis tournament which is the modern iteration of one of the oldest tennis championships in the world, the U.S. National Championship, which for men's singles was first contested in 1881...

 series event.

History

Bank of the West began as Farmers National Gold Bank of San Jose
San Jose, California
San Jose is the third-largest city in California, the tenth-largest in the U.S., and the county seat of Santa Clara County which is located at the southern end of San Francisco Bay...

, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...

, 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.

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
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...

 from failed Imperial Savings and Loan; the 1992 purchase of Atlantic Financial Federal Savings Bank from the Resolution Trust Corporation
Resolution Trust Corporation
The Resolution Trust Corporation was a United States 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 of savings and loan associations declared insolvent by...

; the 1993 purchase of 15 branches in northern California from Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...

; the 1995 purchase of NorthBay Savings Bank, headquartered in Petaluma, California
Petaluma, California
Petaluma is a city in Sonoma County, California, in the United States. In the 2010 Census the population was 57,941.Located in Petaluma is the Rancho Petaluma Adobe, a National Historic Landmark. It was built beginning in 1836 by General Mariano Guadalupe Vallejo, then Commandant of the San...

; and the 1997 purchase of branches from Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...

 and Coast Federal Bank.

In 1995, First Hawaiian Bank
First Hawaiian Bank
First Hawaiian Bank is a regional commercial bank headquartered in Honolulu, Hawaii at the First Hawaiian Center. It is a subsidiary of BancWest Corporation, which itself is a subsidiary of the French banking company, BNP Paribas...

 established Pacific One Bank to hold 30 branches in Washington, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...

, and Idaho
Idaho
Idaho is a state in the Rocky Mountain area of the United States. The state's largest city and capital is Boise. Residents are called "Idahoans". Idaho was admitted to the Union on July 3, 1890, as the 43rd state....

 that it acquired from West One Bank when that bank was acquired by U.S. Bancorp
U.S. Bancorp
U.S. Bancorp is a diversified financial services holding company, headquartered in Minneapolis, Minnesota. It is the parent company of U.S. Bank, the fifth largest commercial bank in the United States based on $330 billion in assets. U.S. Bank ranks as the sixth largest bank in the U.S. based on...

 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’ (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 BNPP’s ownership of the holding company to 42%.

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 7 First Security branches in Nevada to avoid anti-trust issues with overlapping Wells Fargo operations. Also in 2001, First Hawaiian Bank bought Union Bank of California’s branches in Guam and Saipan. First Hawaiian had established its first branch in Guam
Guam
Guam is an organized, unincorporated territory of the United States located in the western Pacific Ocean. It is one of five U.S. territories with an established civilian government. Guam is listed as one of 16 Non-Self-Governing Territories by the Special Committee on Decolonization of the United...

 in 1970 and its first branch in Saipan
Saipan
Saipan is the largest island of the United States Commonwealth of the Northern Mariana Islands , a chain of 15 tropical islands belonging to the Marianas archipelago in the western Pacific Ocean with a total area of . The 2000 census population was 62,392...

 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 UFJ Bank, of Japan.

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, which had 155 offices in 12 states: Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...

, California, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...

, Iowa
Iowa
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...

, Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...

, Nebraska
Nebraska
Nebraska is a state on the Great Plains of the Midwestern United States. The state's capital is Lincoln and its largest city is Omaha, on the Missouri River....

, New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...

, North Dakota
North Dakota
North Dakota is a state located in the Midwestern region of the United States of America, along the Canadian border. The state is bordered by Canada to the north, Minnesota to the east, South Dakota to the south and Montana to the west. North Dakota is the 19th-largest state by area in the U.S....

, South Dakota
South Dakota
South Dakota is a state located in the Midwestern region of the United States. It is named after the Lakota and Dakota Sioux American Indian tribes. Once a part of Dakota Territory, South Dakota became a state on November 2, 1889. The state has an area of and an estimated population of just over...

, Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...

, Wisconsin
Wisconsin
Wisconsin is a U.S. state located in the north-central United States and is part of the Midwest. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin's capital is...

, and Wyoming
Wyoming
Wyoming is a state in the mountain region of the Western United States. The western two thirds of the state is covered mostly with the mountain ranges and rangelands in the foothills of the Eastern Rocky Mountains, while the eastern third of the state is high elevation prairie known as the High...

. Soon after, Bank of the West agreed to buy USDB Bancorp, the parent of Union Safe Deposit Bank
Union Safe Deposit Bank
The Union Safe Deposit Bank was founded in Stockton, California, United States in April 1897. It was purchased in 2004 by the Bank of the West, and all its branches were converted to BOTW on January 24, 2005....

. In December 2005, Bank of the West bought Commercial Federal Corporation of Omaha, Nebraska
Omaha, Nebraska
Omaha is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 20 miles north of the mouth of the Platte River...

. This merger added offices in Arizona, Colorado, Iowa, Kansas
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...

, Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...

, Nebraska, and Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...

 to Bank of the West.

In January 2006, Bank of the West opened a representative office in Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...

, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

, and in September 2007, it opened a representative office in Taipei
Taipei
Taipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...

, Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...

.

External links

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