Bank of the West's Second Quarter 2006 Results $148.7 Million, Up More Than 10%.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Bank of the West announced that net income for the second quarter of 2006 was $148.7 million, compared with $133.6 million in the second quarter of 2005. "As for most banks, the flat yield curve Flat Yield Curve A chart that shows that the yields of bonds with short maturities are equal to the yields of bonds with longer maturities. and net interest margin compression continued to impact our performance," said Don J. McGrath, Chairman and Chief Executive Officer of Bank of the West. "During the second quarter, we introduced a business plan to enhance the delivery of a standardized product A product that conforms to specifications resulting from the same or equivalent technical requirements. NATO standardized products are identified by a NATO code number. set with a consistent platform of distribution channels, to be implemented throughout our 19-state network. I am optimistic that these measures, along with process adjustments and a more decentralized de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. infrastructure will serve us well going forward." With assets of $55 billion, Bank of the West is the third largest commercial bank headquartered in the West. The bank has 680 branch banking locations in California, Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, New Mexico, Nevada, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming. Bank of the West's holding company, BancWest Corporation, is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BNP Paribas, a leading global financial services institution. |
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