Ceo Letter

To Our Clients and Communities

I am very pleased to share Bank of the West’s 2015 Annual Report, which tells the story of our clients’ successes and our dedication to serve as their strong and knowledgeable financial partner.

Our more than 10,000 team members have a common purpose: to advance the financial health of the clients and communities we serve. Our bank carries on the spirit of the West and shares the optimism of our clients, which have inspired Bank of the West for nearly a century and a half to work harder and go further to meet the financial needs of individuals, families, large and small businesses, and community organizations.

One of the ways that we make certain to be there for our clients is by preserving our strength as a profitable and well-capitalized financial institution. In 2015, Bank of the West achieved record net income of $628 million, while continuing to build and maintain the high capital levels and strong liquidity that will allow us to be a reliable lender and services provider through the ups and downs of economic cycles.

The bank’s deposits and loans have grown by about 7 percent in each of the last three years, or roughly 3 times the growth of GDP. Individuals and businesses increasingly turned to Bank of the West to safeguard and manage their assets and to finance consumer purchases and business expansion.

The sense of common purpose mobilizes our team to deliver creative solutions and personal service that businesses and consumers value highly. Bank of the West and BNP Paribas are well-positioned to deliver an optimal blend of the strength of a global financial powerhouse and the personal knowledge and flexibility of a local partner.

The results of this commitment to serve our clients were independently validated again in 2015. We were named one of America's Most Reputable Banks by the Reputation Institute; we've been recognized as the Best Commercial Bank in the West and the Best Private Bank in the West by World Finance Magazine; and we received the 2015 Global Retail Banking Award for Best Mobile Banking Strategy.

Our commitment goes beyond providing great service and useful products to our clients; it extends to the many communities where we are privileged to live and work. In addition to philanthropic contributions, our team members devoted more than 36,000 volunteer hours last year.

We were also proud in 2015 to become the Official Bank of UC Berkeley, expanding our long-standing relationship with the nation’s top-ranked public university, in a path-breaking public-private partnership. We also continued our tradition of supporting the arts, as a corporate sponsor of the San Francisco Museum of Modern Art in its dramatic expansion.

We are very happy to welcome Nandita Bakhshi as the new President and Chief Executive Officer of Bank of the West and BancWest Corporation. Nandita brings a superb record as an effective bank executive and as an innovative thought leader in retail banking. The Board of Directors and I are confident that she will build on the strong foundation our teams have built since 1874 and lead the Bank to even greater performance. I am pleased to remain engaged as Chairman of BNP Paribas USA, BancWest and Bank of the West.

Bank of the West’s growth would not be possible without the trust and support of our loyal clients, the dedication of our team members, and the superb guidance provided by our Board and executive team.

Thank you for your ongoing support. We value your business and are optimistic about our journey ahead. We seek to embody the optimism and can-do attitude of the region we call home. We thank you for deciding to Go West!

Chairman and CEO
May 13, 2016

2015 Financials

Awards & Accolades

2015

AMERICA’S MOST REPUTABLE BANK

— Reputation Institute Survey, American Banker Magazine

2013-2015

BEST PRIVATE BANK
FOR CUSTOMER SERVICE

— Private Asset Management Magazine

2015

TOP RETAIL BANK
FOR CUSTOMER SATISFACTION

— Inaugural Award, MSR Group

2015

BEST MOBILE BANKING STRATEGY

— Global Banking Award, Retail Banker International

2014-2015

BEST PRIVATE BANK U.S. WEST
BEST COMMERCIAL BANK U.S. WEST

— World Finance

2007-2014

BEST SMALL BUSINESS BANKING
BEST MIDDLE MARKET BANKING

— Greenwich Excellence Awards