Bank of the West (merged into BMO Harris Bank)
Bank of the West reported total assets of $91.6 bn at Q4 2022, its last Call Report before it merged into BMO Harris Bank. The CET1 capital ratio at Bank of the West was 11.22%, and the uninsured share of Bank of the West was 50.80%. Source: FDIC Call Reports.
What sets Bank of the West apart
Nothing in the latest data sets Bank of the West apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Bank of the West?
The balance sheet of Bank of the West at : assets $91.6 bn, deposits $72.1 bn, net loans $59.6 bn (loans equal to 82.59% of deposits). Securities make up 22.0% of total assets at Bank of the West. Since , when Bank of the West held $77.1 bn, its assets grew 18.9%. In the year to , deposits at Bank of the West fell 19.4% while its total assets fell 12.6%. At , Bank of the West employed 8,959 full-time equivalent staff across 528 offices, about $10.2 mn of assets per employee and $136.6 mn of deposits per office.
How much funding at Bank of the West is uninsured?
At Bank of the West, uninsured deposits (above the FDIC limit) made up 50.80% of domestic deposits at (-6.87 pp on a year earlier). In dollars, Bank of the West estimated $36.6 bn of uninsured deposits.
Key facts, Q4 2022
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $72.1 bn | $89.5 bn (Q4 2021) | |
| Net loans and leases | $59.6 bn | $56.6 bn (Q4 2021) | |
| Loan-to-deposit ratio | 82.59% | 63.29% (Q4 2021) | |
| Tier 1 leverage ratio | 8.73% | 10.04% (Q4 2021) | |
| Total risk-based capital ratio | 12.13% | 15.32% (Q4 2021) | |
| Net interest margin | 2.86% | 2.59% (Q4 2021) | |
| Return on assets (ROA) | 0.89% | 0.97% (Q4 2021) | |
| Efficiency ratio | 65.98% | 63.05% (Q4 2021) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $746,000 | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Loss of $3.6 bn | Widened by $3.4 bn | |
| Noncurrent loans to total loans | 0.81% | 0.61% (Q4 2021) | |
| Net charge-offs to average loans | 0.12% | 0.07% (Q4 2021) |
US rank of Bank of the West: 1 = highest unless marked 1 = lowest.
Balance sheet
Bank of the West: assets, deposits and loans
- Total assets $91.6bn
- Deposits $72.1bn
- Net loans $59.6bn
Capital and securities
The CET1 ratio of Bank of the West stood at 11.22% in , -2.91 pp year on year. Low and high at Bank of the West since : 11.22% () to 14.51% (). Equity capital of Bank of the West at : $9.2 bn, or 10.0% of total assets. Bank of the West also reported a total capital ratio of 12.13% for , and a tier 1 leverage ratio of 8.73%.
On held-to-maturity securities, Bank of the West carried an unrealized loss of $746,000 at , equal to 0.0% of equity capital. The loss turned from a gain into a loss over the year. Its deepest point: $1.5 mn in . The available-for-sale portfolio of Bank of the West showed an unrealized loss of $3.6 bn at ; the loss widened by $3.4 bn over the year.
Bank of the West: capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 8.7%
Bank of the West: unrealized securities gains and losses
- Available for sale -$3.6bn
- Held to maturity -$746,000
Profitability and loan quality
For the year to , Bank of the West earned a return on equity of 7.56%; return on assets: 0.89%. Net interest margin at Bank of the West: 2.86%, +0.27 pp in a year. Bank of the West net income: $848.1 mn, down 13.0% year on year. The efficiency ratio of Bank of the West was 65.98%: about 66 cents cost per revenue dollar, against 58 cents at the median peer.
At , noncurrent loans were 0.81% of total loans at Bank of the West; net charge-offs: 0.12% of average loans. Gross loans and leases at Bank of the West: $60.2 bn at , against $57.4 bn at .
Bank of the West: profitability
- Return on equity 7.6%
- Net interest margin 2.9%
- Return on assets 0.9%
Peer group of Bank of the West
The peer group of Bank of the West is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 0 share the charter type of Bank of the West (state nonmember bank) and 1 has its head office in California. Against them, Bank of the West shows CET1 ratio 11.22% against a peer median of 11.32%, return on equity 7.56% against a peer median of 12.42% and uninsured deposit share 50.80% against a peer median of 43.25%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Santander Bank | National bank | DE | $99.1 bn | 14.61% | 2.57% | 36.67% | |
| City National Bank | National bank | CA | $96.5 bn | 11.69% | 9.19% | 66.05% | |
| Synchrony Bank | Federal savings bank | UT | $96.3 bn | 14.24% | 25.04% | 11.08% | |
| Bank of the West | State nonmember bank | CA | $91.6 bn | 11.22% | 7.56% | 50.80% | |
| Flagstar Bank | National bank | NY | $90.0 bn | 10.96% | 5.26% | 33.30% | |
| Zions Bancorporation | National bank | UT | $89.5 bn | 9.65% | 15.65% | 49.84% | |
| Comerica Bank | State member bank | TX | $85.5 bn | 9.90% | 18.26% | 62.48% | |
. FDIC Call Reports.
Last eight quarters
Two years at Bank of the West, to : assets $98.4 bn to $91.6 bn, deposits $82.7 bn to $72.1 bn, equity $13.7 bn to $9.2 bn. Staff 9,190 to 8,959; offices 555 to 528.
| Metric | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $98.4 bn | $99.2 bn | $105.4 bn | $104.8 bn | $94.6 bn | $94.5 bn | $91.8 bn | $91.6 bn |
| Total deposits | $82.7 bn | $83.4 bn | $89.3 bn | $89.5 bn | $80.2 bn | $80.1 bn | $75.8 bn | $72.1 bn |
| Bank equity capital | $13.7 bn | $13.8 bn | $13.7 bn | $13.5 bn | $12.7 bn | $11.2 bn | $9.5 bn | $9.2 bn |
| CET1 ratio | 14.51% | 14.45% | 14.36% | 14.13% | 14.40% | 13.20% | 12.05% | 11.22% |
| Return on equity (ROE) | 8.32% | 7.62% | 7.19% | 7.09% | 6.71% | 6.82% | 7.25% | 7.56% |
| Uninsured share of domestic deposits | 53.99% | 54.55% | 56.90% | 57.67% | 52.19% | 52.80% | 50.36% | 50.80% |
| Full-time equivalent employees | 9,190 | 9,049 | 8,900 | 8,966 | 8,912 | 8,868 | 8,904 | 8,959 |
| Number of offices | 555 | 536 | 537 | 527 | 528 | 527 | 528 | 528 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Bank of the West, oldest first; figures before and after each event are not like for like.
- . Merged into BMO Harris Bank National Association (FDIC certificate 16571).
Questions and identifiers
What were the total assets of Bank of the West?
Bank of the West reported $91.6 bn at in its Call Report.
Is Bank of the West the same as its holding company?
No. This page covers Bank of the West, FDIC certificate 3514; BNP PARIBAS (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Bank of the West profitable?
Bank of the West reported net income of $848.1 mn for the year to ; annualized return on equity: 7.56%. So yes: Bank of the West made a profit over these months.
When is data for Bank of the West next updated?
Bank of the West no longer files Call Reports; its data ends at .
Where can I check the figures for Bank of the West?
In the FDIC BankFind Suite record for certificate 3514, and in the Call Reports of Bank of the West (RSSD ID 804963) at the FFIEC Central Data Repository.