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BancWest Corporation acquires 30 branches in the American West

BancWest Corporation, a 45%-controlled subsidiary of BNP Paribas, is to acquire 30 branches in New Mexico and Nevada. These branches have a total of $1.2 billion in deposits and $300 million in loans.

These new branches are being sold by Wells Fargo and First Security Corporation under the terms of their merger, in compliance with US competition regulations.

To date, BancWest Group has 221 branches, of which 59 are in Hawaii and the Pacific islands (First Hawaiian Bank) and 162 in the American West (Bank of the West). It is currently the 4th-biggest bank in California and 2nd-biggest in Hawaii.

This acquisition enables BancWest Group to continue to expand its branch network in the American West in two fast-developing regions :

- The Albuquerque area in New Mexico where it will be the 3rd-biggest bank
- The Las Vegas area in Nevada

This investment is being made in the context of the international retail banking strategy of the BNP PARIBAS Group. This specifically provides for the development of market share of its two existing platforms outside France, being BancWest in the American West and BNPI in Africa, the Middle East and the Indian Ocean.

Number of new branches acquired : 30
23 in New Mexico and 7 in Nevada

Number of branches previously owned by BancWest: 221
under the Bank of the West brand: 118 branches in California, 30 in Oregon, 9 in Washington State, 3 in Idaho and 2 in Nevada.

Under the First Hawaiian Bank brand: 56 branches in Hawaii, 2 in Guam and 1 in Saipan.