BancWest corporation in which BNP Paribas holds a 45% stake will acquire 68 branches in Utah and Idaho. These branches are being divested by Zions Bancorporation and First Security Corporation who have reached agreement with the US Department of Justice to divest the branches to ensure that their upcoming merger will not have an anti competitive effect. The 68 branches have a total of USD 2.1 billion in deposits, and USD 600 million in loans.
Before this deal, BancWest corporation held 221 branches : 59 in Hawaii and the Pacific Islands (First Hawaiian Bank), and 162 in the West of the United States (Bank of the West). Thanks to this new acquisition BancWest corporation is developing its retail banking activities, increasing the total number of its branches up to 290.
New branches acquired : 68
- 60 in Utah and 8 in Idaho
Branches previously held by BancWest : 221
- Bank of the West : 118 branches in California, 30 in Oregon, 9 in Whashington State, 3 in Idaho and 2 in Nevada.
- First Hawaiian : 56 branches in Hawaii, 2 in Guam and 1 in Saïpan.