2005 Annual Report 104 37

80

66

Encircled numbers: San Francisco Bay Area Los Angeles & Orange Counties Metropolitan Denver Greater Omaha

Arizona North Dakota Table of Contents 23 banking locations 9 banking locations California Oklahoma 2 Letter from the Chairman 252 banking locations 21 banking locations Colorado Oregon 4 Company Overview 99 banking locations 32 banking locations 6 Corporate Banking Services Idaho South Dakota 3 banking locations 10 banking locations 10 Small Business Banking Iowa Utah 47 banking locations 6 banking locations 12 Consumer Banking Services Kansas Washington Bank of the West brand 15 Supporting our Communities 29 banking locations 9 banking locations The distinctive Bank of the West bear represents Minnesota Wisconsin 18 Executive Management the strength of a solid financial institution in the 27 banking locations 4 banking locations Committee great American West. Our bear brand signifies our Missouri Wyoming 19 Senior Management Western heritage and the entrepreneurial spirit of 12 banking locations 26 banking locations Nebraska Committee the region. Map represents full 53 banking locations service branches, 20 Board of Directors Nevada limited service locations, 11 banking locations business banking centers, New Mexico agribusiness and 29 banking locations commercial offices Financial Highlights

(dollar amounts in thousands) 2005 2004 2003

Net interest income $ 1,413,239 $ 1,156,774 $ 1,094,129

Total noninterest income 395,514 287,590 245,787

Total noninterest expense 941,015 721,379 631,680

Net income 525,661 419,027 390,866

Return on average assets 1.23% 1.31% 1.44%

Total assets 55,157,645 40,170,606 29,300,245

Total loans and leases 37,744,452 27,234,728 20,723,250

Total deposits 33,901,911 26,006,520 19,372,179 1 Stockholder’s equity 8,331,286 6,733,971 4,834,984

Total risk based capital ratio 10.79% 12.41% 12.94% $525,661 $55,158 $33,902 $37,744 $419,027 $390,866 $26,007 $27,235 $40,171 $312,914 $19,372 $20,723 $17,919 $29,300 $19,092 $26,050

02 03 04 05 02 03 04 05 02 03 04 05 02 03 04 05

Total Assets Total Deposits Net Income Total Loans and Leases (dollars in millions) (dollars in millions) (dollars in thousands) (dollars in millions) Letter from the Chairman

Strong Earnings Growth Through these acquisitions, coupled with strong organic growth, Bank of the West was able to offset the impact of industry-wide margin compression and produce double digit earnings growth in 2005. Net income for 2005 was $525.7 million, a 25% increase from net income of $419.0 million generated in 2004.

We also experienced strong balance sheet growth during the year. Total as- 2 sets increased by 37%, from $40.2 billion at year-end 2004, to $55.2 billion at year- end 2005. Loans and leases increased 39% to end 2005 at $37.7 billion, and The last fifteen months have been a peri- of Community First marked our en- deposits grew by 30% to end the year od of very strong growth and expansion trance to ten Rocky Mountain and at $33.9 billion. for Bank of the West. From the fourth Midwestern states. quarter of 2004, through December of • In January, 2005 we converted 16- Growing Our Business 2005, we completed a series of acqui- branch, Stockton, California-based Bank of the West now provides a full sitions which dramatically increased Union Safe Deposit Bank. This ac- range of consumer banking prod- our presence in the Western U.S. and quisition added to Bank of the West’s ucts and services through 681 branch introduced the Bank of the West brand presence in the rapidly growing Cen- banking locations in 19 Western and to the Rocky Mountain and Great Plains tral Valley region of California. Midwestern states, as well as small states. Bank of the West ended 2005 business and corporate banking ser- among the 25 largest commercial banks • In December of 2005, we acquired vices through dozens of banking offices in the country, and as the second largest Commercial Federal Bank, a federal located throughout our service area. bank headquartered in California. We savings bank headquartered in Oma- As we have grown, we have remained also acquired material market share in ha, Nebraska. With $10.0 billion in focused on preserving the high level of Wyoming and Colorado where we rank assets and 204 banking locations, the customer service which has character- third and fourth respectively. acquisition of Commercial Federal ized Bank of the West since its incep- strengthened our market presence tion in 1874. Growth and Expansion in Nebraska, Arizona, Colorado and • In November of 2004, we acquired Iowa as it served to introduce the Fargo, North Dakota-headquartered Bank of the West “Bear” to Kansas, Community First Bank. With 166 Oklahoma and Missouri. banking locations, the acquisition When asked what defines our brand, we ments and contributions to individuals, Our Service Philosophy like to say it’s about “Getting Bigger by businesses and non-profit organiza- In a world of high technology, Bank of Acting Smaller.” You will still find the tions in lower-income communities. the West has both harnessed that tech- phone number of each of our branches To date, we have achieved in excess of nology and also retained a personalized, in your local directory. 75% of this goal. In 2005, we revisited high touch approach to banking. We this commitment in the context of our put our customers’ interest foremost As Bank of the West has grown, our recent growth and increased the goal and treat them as we wish to be treated organizational structure has evolved to $75 billion by 2015. by a service business — with friendly with the objective of maintaining a respect, courteous service and quality relationship focus with our clients by At Bank of the West, we believe we products and services. vesting local decision-making authority have an important role to play in the with their banker. We have also worked development and growth of the com- Our service culture, our values and very hard to ensure that all our products munities in which we live and work. the employees who embody them 3 and services are available from across This belief extends to our support of im- make Bank of the West a strong and the organization to each client. We be- portant community events, whether it’s successful, high-performance organi- lieve in relationship banking. Frontier Days in Cheyenne, Celebrates zation. Without the 11,000 employees America in Omaha, Parade of Lights in who energize this bank, there would Commitment to Community Denver, Albuquerque International Bal- be no Bank of the West, and to them The impact on any community in which loon Fiesta, or our sponsorship of the I extend my heartfelt thanks. an acquired bank is headquartered can Bank of the West Classic, the longest be significant. We are aware of this, running tournament in professional and with each acquisition we make, women’s tennis. our goal is to minimize this impact. In the three acquisitions discussed earlier, Into the Future we retained essentially all branch per- Looking into 2006, we anticipate infill sonnel. In addition, in both Fargo and growth in our current markets through Omaha, we have established regional further acquisitions, as opportunities Don J. McGrath headquarters and company-wide op- present themselves, and through con- Chairman and CEO erational support centers that employ struction of approximately 20 new a large number of former Community branches in areas where we can en- First and Commercial Federal staff. We hance client coverage. Our appetite for look forward to expanding these opera- growth is fully supported by our share- tions as we continue to grow Bank of holder BNP Paribas, which has invested the West. substantially in the Bank of the West network and brand, and in our holding In 2002, Bank of the West established a company, BancWest Corporation. ten year goal to provide $30 billion in financial support through loans, invest- Company Overview

4

Bank of the West began as a community bank in Northern California more than 130 years ago. Through internal growth and acquisitions, the bank’s footprint has widened from communities in the San Francisco Bay Area throughout the state and beyond. Above, our San Francisco main branch.

At Bank of the West, we believe that Through more than 680 branch banking tate, construction, churches, health our personalized, high touch approach locations in 19 states, we serve 4 mil- care providers and financial institu- to building, sustaining and servicing lion business and household accounts tions. Our services for commercial customer relationships is what makes in Arizona, California, Colorado, Idaho, customers include capital markets, our brand of banking so distinctive. Iowa, Kansas, Minnesota, Missouri, cash management, equipment leasing, Nebraska, Nevada, New Mexico, North foreign exchange, loan syndication and With assets of $55 billion and deposits Dakota, Oklahoma, Oregon, South trade finance. of $33.9 billion, Bank of the West is the Dakota, Utah, Washington, Wisconsin, second largest bank headquartered in In the small business arena, we provide and Wyoming. California, the third largest commercial not only deposit and credit products, bank headquartered in the West and Bank of the West offers a full range of but also SBA loans, equipment leas- among the top 25 commercial banks in banking and financial services through ing, merchant services and most of the United States. Bank of the West is a multiple channels for corporations, the same specialty services available subsidiary of BancWest Corporation, part small businesses and individual to larger companies. of the BNP Paribas global network. customers. We serve individual customers with a We also offer products and services full range of products, from checking specifically designed for the needs and savings accounts to consumer of specialized businesses such as loans, mortgage financing, insurance, agribusiness, commercial real es- trust and investment services. Company Overview

5

In the past twenty years, fifteen acquisitions have expanded Bank of the West into a 19-state regional banking network. Above, our Omaha business park is one of four support centers, in addition to offices in Walnut Creek and Monterey Park, CA, and Fargo, ND. Right, our Larkspur, CA branch.

Bank of the West was founded as Farm- ers National Gold Bank in San Jose, California in 1874. More than 130 years later, the bank has grown and expanded into a regional commercial bank with banking locations through- out the West and Midwest.

We offer the convenience, expertise and product diversity of the largest banks, with the personalized service associated with the community bank heritage from which we’ve grown. Bank of the West is committed to main- taining a personal scale, where excep- tional service continues to be the rule Acquisitions in 2004 and 2005 introduced Bank of the West to the Rocky Mountain and the value we provide continues to states and the Midwest. Above, our Jackson, WY branch. benefit each of our customers. Corporate Banking Services

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Vineyards and wineries are the focus of the Vintage Wine Trust, a unique Bay Area REIT that leases back acquired properties to growers and vintners. Bank of the West leads a large syndicated credit for Vintage Wine Trust and provides other banking services.

In corporate banking, our focus at Bank Bank of the West in 2005 became the responsibility in the administration of the West is to build, sustain and lead bank in a 13-bank consortium to and servicing of the loan. Extending serve commercial business relation- underwrite the nation’s first real estate the relationship, Bank of the West is ships. Each relationship we develop investment trust (REIT) focused on the providing Vintage Wine Trust with with a corporate client is unique and wine industry. The service offering was cash management, credit card and the services we provide are tailored to a result of building and sustaining a depository services as well as interest meet their specific needs. Our services long-standing relationship between rate risk management through the use may involve arranging a multi-bank the client, our premium wine team and of derivatives. syndicate to finance a wine and vine- our syndication department. Transactions of this kind allow Bank of yard industry REIT, providing financing The new San Rafael, California-based the West to demonstrate multiple ca- for the expansion of a medical device Vintage Wine Trust buys vineyards in pabilities, including underwriting and company, or helping companies man- Oregon, Washington and California, administering large syndicated loans, age liquidity and interest rate risk. then leases the land back to grape agricultural lending expertise reflecting growers and wineries. As lead bank for 20 years of lending to the wine industry a $150 million loan, Bank of the West and guidance from lenders who under- utilized both our agricultural credit stand REITs. Together with Vintage Wine and syndication expertise to pack- Trust, we have built a strong foundation age the loan. The bank also retained for future service growth. Corporate Banking Services

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Bank of the West’s most durable agriculture banking relationship is with 22-year client Hilmar Cheese of Modesto, California. The world’s largest single-site cheese manufacturer produces more than a million pounds of cheese every day.

As customer needs grow, so does our Developing a customer relationship Many clients also utilize Bank of the banking relationship with them. Bank of involves listening to the customer and West’s interdisciplinary capabilities the West has supported one agricultural designing a package of services and to help them achieve cost savings. customer, Hilmar Cheese, for 22 years. products tailored to meet their needs. Our Capital Markets service, for ex- We began our relationship in 1983 with Mentor Corporation, a Santa Barbara, ample, assists customers with advice a $1.2 million loan. Today, the Modesto, California-based medical specialty de- and execution of financial transactions California-based company is the larg- vice manufacturer wanted to invest in in almost every world currency. A Port- est single-location cheese producer in its growth as well as have the flexibility land, Oregon-based steel manufacturer the world. Hilmar Cheese has grown to make strategic investments, should recently sought to purchase new cut- to absorb 10% of California’s total milk opportunities arise. In 2005, Bank of ting equipment from New Zealand and production, making more than a million the West structured a $200 million asked for both a New Zealand and a pounds of cheese daily. Over the years, syndicated loan for Mentor Corpora- U.S. dollar sales price from the supplier. Hilmar Cheese has become Bank of tion to expand upon the success it was Working with the Foreign Exchange the West’s largest and longest-lasting already achieving and an “accordion” desk at Bank of the West, the client was agricultural relationship. expansion loan of $50 million to ac- able to effectively value the pricing op- commodate future growth. tions and thus realize savings. Corporate Banking Services

8

Bank of the West’s specialty lending to religious institutions included a $7 million construction loan for Millbrook Baptist Church in Aiken, South Carolina. Trinity Capital, an equipment leasing division, creates vendor leasing programs for manufacturers of specialized equipment like this collision repair frame rack made by our customer, Chief Automotive Technologies, of Grand Island, Nebraska.

Throughout 19 Western and Midwest- building new worship and educational Treasury and investment products, ern states, prospective customers can facilities. The country’s largest special- cash management services and pri- locate experts in the following banking ized church lender, Bank of the West vate-label offerings help meet com- disciplines by visiting our branches or has developed a nationwide reputa- petitive needs at lower cost. specialized banking centers as well as tion for understanding and meeting • Government sector entities from coun- online at www.bankofthewest.com. the financial needs of churches. ties, cities and universities to special • Agribusiness lending and service • Equipment Leasing and support ser- districts use our bond underwriting leadership in the nation’s three most vice is provided nationwide for busi- services and treasury management. productive agribusiness markets — nesses directly through the bank’s • Health Care Institutions, especially California, the Pacific Northwest and commercial banking centers and residential care facilities for seniors, the Midwest — make Bank of the West branches and through a nationwide are another Bank of the West spe- the nation’s #4 production agriculture broker network. Our Trinity division cialty. From site acquisition through lender. The bank serves growers, win- focuses on vendor leasing programs construction and occupancy devel- eries, and forest product industries, in specific industries and on lease opment, the bank has the expertise plus ranches, nurseries and dairies account servicing. this specialty demands. throughout the West and Midwest. • Financial Institutions including credit • Church Lending provides exper- unions use a wide range of corre- tise developed through 20 years of spondent and processing services guiding church leaders through the that enable smaller institutions to multiple phases of planning and extend their service capabilities. Corporate Banking Services

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Sanitation and recycling company CR&R depends on Bank of the West for a large credit facility, online cash management, credit cards, deposit services and a personal banking program for the company’s 600 employees.

• Pacific Rim business clients include • Title, Escrow and Property Manage- • Foreign Exchange: Transaction, ad- customers from Asian-American en- ment firms need rapid responsive- visory and investment expertise in trepreneurs to multinational com- ness for high transaction volumes. global markets panies. Through the Asian Trade We bring the fastest turnaround pos- • International Trade: Comprehen- Center network of our parent BNP sible to an industry where urgency sive global import/export services Paribas and our fluency in multiple is the rule. through our senior trade managers in Asian languages, we maintain ties Within each of these commercial spe- cooperation with BNP Paribas Trade throughout Asia. Pacific Rim bankers cialties, Bank of the West offers: Centers worldwide also specialize in depository services

for the U.S. subsidiaries and affiliates • Capital Markets: Interest rate hedg- • Syndication: Structured underwrit- of Japanese companies. ing products as well as enhanced ing of large loans in partnership with customer returns on investment and other lenders • Real Estate & Construction clients working capital work with lenders at Bank of the • Wealth Management: As consultants, West who finance industrial, office • Cash Management: Online, scalable our money managers match invest- and retail properties, low-to-mod- solutions and single-point service ment recommendations with client erate income housing, and a wide objectives. • Corporate Deposits: Single-point de- variety of residential property. Bank posit services for corporate clients of the West’s construction and real estate portfolio stood at $3.5 billion at year’s end 2005. Small Business Banking

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Bank of the West financed the office and maintenance facility of Mountain View Tours in Tucson, AZ and has extended a line of credit to the luxury tour bus charter company.

Small business is the backbone of the based its awards on interviews with work of representatives nationwide. economy in hundreds of the communi- more than 22,000 business owners in Active in secondary markets as well, ties we serve. 66 markets nationwide. the bank grew its SBA portfolio by 19% in 2005. With more than 130 years experience Business bankers throughout the bank’s in community banking, Bank of the 19-state footprint offer loans up to $1 Small business clients may also need West understands the needs of the million through our BusinessLink prod- some of the same services that larger, small business owner. uct, a quick-response credit program commercial customers require. At Bank targeted to established businesses of the West, we provide scalable cash and farms in need of operating capital, management, foreign exchange, in-

According to a construction financing or equipment. ternational trade finance, equipment leading, indepen- In addition, Small Business Admin- leasing, capital markets products and dent financial ser- istration (SBA) loan programs make wealth management services. As they vices consulting funds available for firms that don’t fit grow, we match the needs of small en- and research firm, Bank of the West’s the conventional mold. As a Preferred terprises with our flexibility to adjust business bankers in 2005 were recog- Lender of the SBA, Bank of the West the product scale of deposit accounts, nized as the best in the country. We can expeditiously process these gov- credit and other merchant services. received four Greenwich Associates ernment-guaranteed credit offerings. national awards for excellence in busi- The bank makes SBA loans through ness banking. Greenwich Associates our branch system and through a net- Small Business Banking

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Personal and business banking relationships with Bank of the West have allowed two generations of the Landeros family to grow PRL Glass from a four-person custom glass fabricator into a $34 million company with 300 employees.

Since 1989, we’ve been banking PRL has also added a new business line In an effort to serve all segments of Glass, a custom glass fabricator in — aluminum extrusions. What began the communities within our footprint, the City of Industry, CA. Initially a de- as a family-operated business by four Bank of the West has made a multi- posit customer, the company next brothers today has grown into an en- year, multi-category community sup- established a line of credit through terprise with 300 employees and three port commitment. We have pledged BusinessLink. Our branch manager lis- industrial facilities. to provide $25 billion in loans for tened to the owners’ desire to grow the small businesses and farms in low- to In Northern and Southern California, company and introduced them to our moderate-income areas through the we have developed a niche in serving Business Banking Center. By request, year 2015. Funding for micro-loans U.S. subsidiaries of Asia-based com- PRL Glass established a relationship of less than $30,000 is included in this panies as well as small businesses with one of our bilingual officers and commitment. Since 2002, the bank has owned by Asian-Americans and Asian we provided banking products and made $7.5 billion in such loans. immigrants. Our Pacific Rim group services to support the company’s of offices is staffed with multi-lingual goals for expansion. Bank of the West bankers who can assist customers in has provided PRL Glass with a working Mandarin, Cantonese, Japanese and capital line of credit, several equip- Korean. These specialized branches are ment loans, and multiple commercial also attuned to the business cultures real estate loans. The company, which of East Asia. makes custom glass shower doors, Consumer Banking Services

12

Among the 204 banking locations Bank of the West acquired in 2005 is this former Commercial Federal branch near Boulder, CO.

As individual consumers ourselves, include personal checking and sav- There are a thousand details and pro- we at Bank of the West know and ap- ings accounts, debit and credit cards, cesses involved in integrating an ac- preciate friendly, personalized service. consumer loans and lines of credit, quired bank into Bank of the West. This is what drives us to build long- mortgages, investments, insurance, The planning and preparation for the term relationships with our customers trust and retirement accounts. Each conversion of Commercial Federal and provide them with a high touch of our branches has a listed telephone into our network began the day af- banking experience. Our branch sales number, answered live. If you prefer, ter we announced its acquisition in staff is trained to listen to and proac- our call center is staffed from morning June. From systems to signs, bro- tively identify every customer’s bank- until night, seven days a week, with chures to our distinctive bear logo, ing needs and match those needs with access through our toll-free customer we executed major changes during the right products and services. service lines. a single weekend in early December. Bank of the West converted 204 bank- Bank of the West has more than 680 The acquisition of Commercial Federal ing locations and 248 ATM machines. branch banking locations and 767 ATMs Bank in 2005 added dramatic growth We installed more than 4,500 Bank of across the West and Midwest as well to our consumer banking footprint, ex- the West outdoor and indoor signs, as telephone banking services and our panding service in Arizona, Colorado, 2,700 of which went up over that one proprietary eTimeBanker® online bank- Iowa and Nebraska while introducing weekend alone. We set up 2,100 per- ing service. Our customers have access the Bank of the West brand in Kansas, sonal computers in the branches and to a full array of banking products that Missouri and Oklahoma.

Consumer Banking Services

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Bank of the West’s Omaha-based mortgage business offers purchase and refinance loans through our 19-state branch network. Bank subsidiary Essex Credit Corporation is one of the nation’s largest marine direct lenders, offering 25 and 30 year loan terms on boats and RVs.

1,000 personal computers in other As online and telephone banking meth- Bank of the West also provides a com- bank offices. More than 400 informa- ods gain popularity, we continually up- plete range of consumer loan products tion technology technicians worked date controls to protect our customers’ as well as indirect financing through around the clock during that weekend privacy and security. Our eTimeBanker dealerships that sell autos, recreational to convert former Commercial Federal online banking service uses state-of- vehicles and pleasure boats. We work accounts into the Bank of the West the-art encryption technology. The with a nationwide network of nearly system. Nearly 2 million pieces of mail bank’s website at www.bankofthewest. 6,000 dealerships to provide quick loan providing transition information went com also includes consumer informa- approvals and funding for hundreds to our customers informing them of tion for protection against identity theft of thousands of dealership customers the acquisition, and welcoming them and web-based fraud. This year, we and consumers. to Bank of the West. introduced identity theft-prevention Customers can also realize the dream workshops in some communities and The acquisition expanded our branch of owning a pleasure boat or motor we promoted consumer education on network in the Midwest and dramati- home through financing offered by financial abuse of the elderly. cally reinforced our presence in the Essex Credit Corporation, a Bank of Rocky Mountain region. As in our pre- We help consumers realize home the West subsidiary since 1997. Essex vious mergers, we retained virtually all ownership with mortgage and refi- offers personal marine and RV loans staff in the acquired branches so that nancing products offered throughout through direct mail, the Internet, bro- customers saw the same friendly faces our branch network by our Mortgage ker referrals and through its offices in who provided personal continuity and Banking Division. coastal communities. a seamless banking transition. Consumer Banking Services

14

Bank of the West has 18 Pacific Rim Banking branches like this one in San Francisco to serve California’s large Asian-American communities and immigrant entrepreneurs.

Our BancWest Investment Services and life insurance through 56 Bank We also maintain specialized outreach to subsidiary offers an array of mutual of the West branches in Colorado, the both Asian and Latino customers with a funds, annuities, IRA accounts, other Dakotas, Iowa, Minnesota, Nebraska, set of products and web sites tailored to tax-advantaged accounts and educa- Utah and Wyoming. This service will meet the needs of these markets. tion savings plans. These services are be expanded to other markets as we Private Bankers are available to high available at all our branches, or ap- acquire additional insurance agencies net worth individuals. These personal pointments with investment consul- within our network. bankers can handle all of a customer’s tants can be scheduled offsite. Asian consumers can receive service banking needs, but are particularly BW Insurance Agency Inc., also a Bank in their native language at any of Bank versed in the areas of wealth manage- of the West subsidiary, offers personal of the West’s 18 Pacific Rim Banking ment, trust and investment services. and commercial insurance products locations in Southern California and including automobile, homeowners San Francisco. Supporting our Communities

15

Bank of the West invested in Homestead Capital’s $4.7 million development in rural Washington (left) to provide farmworkers and their families with affordable housing. Homestead’s Fremont Mews apartment complex in Sacramento, California (right) provided for 49 lower-income families with investment by Bank of the West. (Aaron Johanson photo)

In 2002, Bank of the West announced a Our expansion in the Midwest and Noteworthy among the bank’s commu- ten-year goal to support communities Rocky Mountain states has also in- nity investments of the past year: in several ways, ranging from small creased our commitment to commercial • A $4.5 million investment in bonds farm loans to church credit, community business, small business, consumer as well as a long term loan are help- development lending, investment and and community development lend- ing finance construction of a 40-unit minority contracting. ing, investment and philanthropy in multi-family affordable housing de- economically challenged areas. With the acquisition of Commercial velopment for disabled lower-income Federal Bank in 2005, the bank in- With 162 of our branches located in adults in Stockton, California. In creased and extended its pledge to underserved, low income communi- 2005, the bank made $465 million in $75 billion in community investment ties, the bank is firmly committed to community development loans and through 2015. The significant increase investing and lending to qualified in- investments for affordable housing, in our commitment is based on our dividuals, small businesses and larger economic development and neigh- recent growth and our belief that it enterprises. Through its SBA program, borhood revitalization. is our responsibility to meaningfully the bank is also making thousands of support the communities in which we micro-loans to small businesses, con- live and work. sumer loans, philanthropic, minority vendor and community partnerships. Supporting our Communities

16

In July, Bank of the West Beach Games, featuring surfing championships, beach volleyball and other competitions, is celebrated in Huntington Beach, California. Kim Clijsters (right) won the 2005 Bank of the West Classic, Northern California’s only women’s professional tennis tournament. Sponsored by the bank for 14 years, the Classic brings world-class tennis to the San Francisco Bay Area each summer.

• A $250,000 grant to Operation Hope for We believe that the fabric of our com- The many events we sponsor include: financial literacy programs in Denver. munities is woven by corporate par- • The Bank of the West Classic wom- ticipation in the many celebrations of • The Fruitvale Hope Center — an Oak- en’s professional tennis tournament, our cultures through events. land, California Bank of the West part of the U.S. Open Series that branch that houses a financial coun- As Bank of the West has grown, so annually draws 40,000 spectators seling and internet center — thrived in too has our support of community in Northern California plus millions its second year as a grant-supported events, collegiate athletics and pro- of television viewers. joint venture with Operation Hope. fessional sports. Whether it’s the lon- • Cheyenne Frontier Days, the world’s gest-running women’s professional • A $10,000 grant to St. Jude’s Ranch largest outdoor rodeo and a Wyo- tennis tournament in the world, the for Children in Las Vegas, Nevada ming tradition since 1897. Frontier largest U.S. beach games festival or supports abused, neglected and Days features live concerts, parades, the world’s largest outdoor rodeo, the abandoned children. Through doz- art shows and dance performances. bank actively sponsors events and ens of similar-sized grants, the bank Bank of the West also sponsors the activities unique to the diverse com- supports community events and Bill Picket Invitational Rodeo, the munities we serve. charitable organizations in health nation’s only black touring rodeo.

and human services, the arts, and economic development. Supporting our Communities

17

As the third largest bank in Wyoming, Bank of the West is a proud sponsor of Cheyenne Frontier Days, the world’s largest outdoor rodeo and Western celebration. In Nebraska, 300,000 music lovers turn out in Omaha annually to “Celebrate America” around July 4th with a rock concert and fireworks. Bank of the West continues to sponsor the event in 2006.

• “Bank of the West Celebrates Ameri- • Bank of the West Beach Games, • The San Gabriel Valley Lunar New ca” features a free community concert which features the U.S. Open of Surf- Year Festival and Parade, one of the and fireworks show in Omaha’s Me- ing and showcases other world-class largest Asian American celebrations morial Park each July 4th weekend. athletes in volleyball, free-style mo- in California, attracting thousands of tocross, BMX and skateboarding in spectators and broadcast on Asian- • Denver Parade of Lights. This an- Southern California. Each year, more language television and radio. nual December parade, complete than 350,000 spectators attend the with marching bands and animated free multi-day event. floats, makes its way through down- town Denver. Executive Management Committee

18

Front row: (from left) Donald Ward, Gerard Denot, Steve Glenn, Don McGrath, Norma Waters, Doug Grigsby, Jean-Milan Givadinovich Back row; (from left) Susan Fowler, Donald Duggan, Frank Bonetto, Gerald Pang, J. Michael Shepherd, Paul Wible, Kevin Ames. Not shown: James Henry.

Don J. McGrath James Henry Donald Duggan Chairman and CEO Senior Executive Vice President Executive Vice President Chief Credit Officer Chief Technology Officer Frank Bonetto Vice Chairman J. Michael Shepherd Susan Fowler Regional Banking Group Senior Executive Vice President Executive Vice President Risk and Legal Group Human Resources Gerard Denot Vice Chairman Donald Ward Jean-Milan Givadinovitch Commercial Banking Group Senior Executive Vice President Director of Audit and Inspection Operations and Systems Steve Glenn Gerald Pang Vice Chairman Paul Wible Executive Vice President Chief Administrative Officer Senior Executive Vice President Deputy Chief Credit Officer Consumer Finance Doug Grigsby Norma Waters Vice Chairman Kevin Ames Executive Vice President Finance Group Executive Vice President Regional Banking Group Chief Financial Officer Specialty Products Senior Management Committee

Senior Management Committee Mark Glasky Martin Resch includes Executive Management Executive Vice President Executive Vice President Committee and: Commercial Banking Treasurer

Brad Grubb Lori Rivers Thomas Anderson Executive Vice President Senior Vice President Executive Vice President CEO, BancWest Investment Consumer Product Services President, BW Insurance Agency, Inc. Services, Inc. Randall Roberts Ralph Anthony James Hanna Executive Vice President Senior Vice President Executive Vice President Southern California Operations Finance Integration and Tax Information Technology Michael Robinson Mark Beecher Deirdre Henry Executive Vice President Senior Vice President Senior Vice President Valley/Sierra Nevada Division National Indirect Sales Controller George Stanfield Ross Biatek Bruce Heysse Executive Vice President General Auditor Executive Vice President Southwest Division Regional Banking Credit Patrick Corrigan Roger Sturdevant Executive Vice President John Hyche Executive Vice President Great Plains Division Senior Vice President Agriculture and Rural Syndications Commercial Banking 19 Art Crawford Senior Vice President Allen Kirschenbaum John Thomason Consumer Finance Administration Executive Vice President Executive Vice President Syndications Real Estate Industries Richard Davis Executive Vice President Fran Lopez Stephen Weiss Southern California Division Executive Vice President Chief Counsel Marketing Jack Devereaux Bill Williamson Executive Vice President Carole Merchant Executive Vice President Rocky Mountain Division Senior Vice President Northwest Division Dealer Lending Services Jerry Dunn John Wojcik Executive Vice President Paul Nakae Executive Vice President Regional Banking Group Executive Vice President Commercial Banking Administration Real Estate Industries -- North Strategic Planning and Administration

William Even Jerry Newell Gina Wolley Executive Vice President Executive Vice President Executive Vice President Deputy Chief Credit Officer Equipment Leasing Customer and Branch Services

Tate Fitzgerald Yukinori Nishio Paul Woolway Executive Vice President Executive Vice President Executive Vice President Mortgage Banking Division Pacific Rim Banking Corporate Development

Scott Germer Brad Rasmus William Zillman Executive Vice President Executive Vice President Executive Vice President Loan Portfolio Risk Midwest Division Wealth Management

Board of Directors

Frank Bonetto Stuart Hall Donald Pelton Vice Chairman President & CEO (Retired) Senior Executive Regional Banking Group Liberty Northwest Vice President (Retired) Bank of the West Bank of the West A. Ewan Macdonald Bernard Brasseur Chairman & CEO (Retired) Edouard A. Sautter Risk Manager (Retired) Del Monte Foods Honorary Senior Executive Bank of the West Vice President Pierre Mariani Banque Nationale de Paris David Clark Executive Vice President Chairman & CEO (Retired) International Retail Banking Jean Thomazeau Clark and Sullivan Constructors and Financial Services Advisor to BNP Paribas the Chairman (Retired) Francois Dambrine BNP Paribas Head of U.S. Retail Banking Vilma S. Martinez BNP Paribas Partner Robert L. Toney Munger, Tolles & Olson LLP Admiral (Retired) Gerard Denot U.S. Navy Vice Chairman Isao “Steve” Matsuura Commercial Banking Group Chairman (Retired) John K. Tsui Bank of the West Sanwa Bank California President and COO (Retired) First Hawaiian Bank Walter A. Dods, Jr. Don J. McGrath 20 Chairman Chairman & CEO Jacques Henri Wahl First Hawaiian Bank and Bank of the West Senior Advisor to BancWest Corporation the Chairman (Retired) President & CEO Trustee, Estate of S.M. Damon BNP Paribas Chairman, Executive Committee BancWest Corporation Former Director & President Robert A. Fuhrman Banque Nationale de Paris Vice Chairman Rodney R. Peck President & COO (Retired) Senior Partner Lockheed Corporation Pillsbury Winthrop LLP Corporate Address Form 10-K Bank of the West To obtain Form 10-K and other financial 180 Montgomery Street information about BancWest Corporation San Francisco CA 94104 and financial information about Bank of Phone: 925. 942.8300 the West, contact: www.bankofthewest.com Doug Grigsby EVP/Chief Financial Officer, Essex Credit Corporation BancWest Corporation 2200 Powell Street, Suite 1200 Vice Chairman/Finance, Bank of the West Emeryville CA 94608 [email protected] Phone: 866. 377.3948 www.essexcredit.com Credit Ratings Standard & Poor’s General Information Bank of the West uninsured CDs: Contact for news media and others long-term A+, short term A-1 seeking general information: Roberta Wong Murray Moody’s Senior Vice President Bank of the West deposits: Corporate Communications long-term Aa3; short-term P-1 Phone: 415. 399.8220 [email protected] Fitch Bank of the West deposits: long-term AA-; short-term F1+ (Ratings as of December 31, 2005)

Headquartered and chartered in San Francisco, California, Bank of the West is a full-service commercial bank with $55.2 billion in assets and $33.9 billion in deposits at December 31, 2005. The bank has 681 branch banking locations in 19 Midwestern and Western states — Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming. Founded in 1874, Bank of the West originates commercial, small business and consumer loans and leases, and offers a range of individual and other commercial banking, insurance, trust and investment products. Subsidiary Essex Credit Corporation offers loans on pleasure craft and recreational vehicles. See www.bankofthewest.com.

Bank of the West is a subsidiary of BancWest Corporation, a holding company with assets of $66.3 billion at December 31, 2005. Headquartered in Honolulu, Hawaii, with administrative offices in San Francisco, BancWest Corporation also owns First Hawaiian Bank, with $11.6 billion in assets at December 31, 2005 and 61 branches in Hawaii, Guam and Saipan. See www.bancwestcorp.com.

BancWest Corporation is a subsidiary of BNP Paribas, a global financial institution of European heri- tage with offices in more than 85 countries and nearly 110,000 employees. BNP Paribas is the second largest bank in the Euro zone by market valuation. With total assets of $1.49 trillion ( 1.26 trillion) at December 31, 2005, a significant and growing presence in the United States and leading positions in Asia, BNP Paribas is a major provider of retail, commercial, insurance, investment and investment banking products and services worldwide. See www.bnpparibas.com. 180 Montgomery Street San Francisco, California 94104 (925) 942-8300 www.bankofthewest.com