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twitterFed clears path for bank’s expansion
Wednesday, Feb. 20, 2002 | 11 a.m.
The Federal Reserve Board today approved applications by the parent companies of Bank of the West to acquire United California Bank.
The Fed's decision completes a $2.4 billion merger between Paris-based BNP Paribas and its BancWest Corp. affiliate, parent companies of Bank of the West, to purchase United California Bank from UFJ Holdings of Tokyo.
The merger, which was announced in December, makes Bank of the West the fourth-largest bank in California with more than $31 billion in assets. Nearly 120 Southern California branches of United California Bank are scheduled to change to the Bank of the West brand by the third quarter of this year.
Bank of the West has operated seven branches in Southern Nevada since January 2001.
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