Bank of the West replaces Commercial Federal

Bank of the West introduced its bear brand and personalized service in dozens of markets including Bartlesville, as the San Francisco-based bank completed its integration of $10.2 billion Commercial Federal Bank.

More than 200 former Commercial Federal locations in seven Midwestern and Mountain states reopened this week as Bank of the West locations.

“Current branch customers will find the same familiar folks that have been serving their financial needs all along,” said Chris Crocker, Branch Manager, Bank of the West in Bartlesville. “Our new customers will also have some additional choices of consumer and business banking products and services to fit their specific situations.”

Bank of the West acquired Commercial Federal Corporation in a $1.36 billion transaction that closed Dec. 2. As a result of the acquisition, Bank of the West becomes one of the three largest Western-based commercial banks in the U.S. Along with the expanded branch system, Bank of the West adds a regional administrative facility in Omaha, Neb., and a recently-opened commercial banking center in Denver.

Bank of the West offers a full range of products and services, among them consumer banking, consumer finance, mortgage banking, small business lending and wealth management.

At Sept. 30, Bank of the West had total assets of $43.7 billion and Commercial Federal had assets of $10.2 billion. Bank of the West together with First Hawaiian Bank, comprise BancWest Corporation, wholly owned by BNP Paribas. BancWest Corporation now serves nearly 4 million accounts through 743 banking locations in 20 states, Guam and Saipan. BNP Paribas is a global financial services group, with its heritage in Europe, leading positions in Asia and a long-term active presence in the United States.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.