The Finance Owl

Banks - Loans - Mortgages - Money

Bank of the West



Bank of the WestThe Bank of the West is a subsidiary company of the Bancwest Corporation: a financial services holding company that is wholly-owned by the French banking group BNP Paribas.

Bank of the West has more than $63 billion in assets and serves customers in 19 Western and Midwestern states; Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming.

Bank of West has a network of more than 700 commercial and retail banking locations and approximately 10,500 employees. It operates under four separate divisions which are:

  • The Commercial Banking Group which serves larger corporate customers through several primary business lines.
  • The Regional Banking Group serving individuals, small businesses and middle market commercial customers.
  • The National Finance Group originates and services loans and leases for consumers with specialities. A subsidiary Essex Credit Corporation focuses on brokerage and refinancing of larger marine and RV Credits nationwide.
  • The Wealth Management Group provides wealth-related products and services.

The History of Bank of the West

Founded in 1874 by its predecessor the Farmers National Gold Bank of San Jose, California,  it went on to become the First National Bank of San Jose, California in 1880. Almost a century later, in 1979, the First National Bank of San Jose became the Bank of the West and merged with BNP’s French Bank of California (established 1970).


Bank of the West and Expansion in the 1990s

  • 1990 – Bank of the West acquired Central Banking Systems.
  • 1991 – Failed Imperial and Savings Loan enabled Bank of the West to purchase 30 branches in northern California.
  • 1992 – Atlantic Financial Federal Savings Bank from the Resolution Trust Corporation is acquired.
  • 1993 – 15 branches in northern California are purchases from Citibank.
  • 1995 – NorthBay Savings Bank, headquartered in Petaluma, California, is acquired.
  • 1997 – Branches are increased due to purchases from Bank of America and Coast Federal Bank. Essex Credit Corporation, the largest direct lender in the U.S. marine industry, is acquired.
  • 1998 – Bank of the West merged with Honolulu-based First Hawaiian Bank to create a new holding company called BancWest Corporation in which both names were maintained. Bank of the West went on to absorb First Hawaiian Bank’s subsidiary Pacific One Bank. At the time, BNP Paribas owned 45% of the holding company BancWest Corporation.
  • 1999 – Bank of the West expanded into the Sierras and northern Nevada as a result of acquiring Sierra West Bancorp.

Bank of the West and the 21st Century

In 2001, Bank of the West acquired 30 branches in New Mexico and Las Vegas, Nevada. In the same year, BNP’s offer to acquire the remaining 55% of BancWest Corporation was accepted which would make it a wholly-owned subsidiary by BNP.

Major change occurred in 2002 when BNP Paribas and BancWest announced the acquisition of United California Bank (UCB) which had a strong presence in southern California. A merger between UCB and Bank of the West formed an establishment with $25 billion in assets.

Further expansion in 2004 was a result of the acquisition of Community First Bankshares, a bank holding company for Community First National Bank. Headquartered in Fargo, North Dakota, Community First National Bank had 166 Offices in ten new states: Arizona, Colorado, Iowa, Minnesota, Nebraska, North and South Dakota, Utah, Wisconsin and Wyoming. Another acquisition that year of USDB Bancorp whose subsidiary was the Union Safe Deposit Bank added a further 16 locations in California.

In 2005, the acquisition of Commercial Federal Bank of Omaha, Nebraska, by Bank of the West resulted in expansion into three new states: Kansas, Missouri and Oklahoma.

Bank of the West continues to grow and as of January 2006 it opened a representative office in Tokyo, Japan and in September 2007, it opened a representative office in Taipei, Taiwan.