Bank of the West Completes Acquisition of Northbay Savings Bank.

SAN FRANCISCO--(BUSINESS WIRE)--April 26, 1996--Bank of the West, California's 6th largest bank today announced that it has completed the $47 million cash acquisition of Northbay Financial Corporation, the holding company for Northbay Savings Bank. The acquisition expands the Bank's network to Healdsburg, Rohnert Park, and Forestville and adds additional offices in Santa Rosa and Petaluma.

All of the employees of the acquired Northbay Savings Bank branches have been offered positions at Bank of the West.

"Bank of the West's purchase of Northbay Savings Bank is a continuing step in our long-term strategy for expansion in Northern California. We're very pleased to add additional branches in Northern California to form a larger, stronger network to serve the needs and demands of our customers," said Don McGrath, President of Bank of the West. "This is our fifth acquisition in six years. The bank has grown from 39 branches in 1990 to 104 branches today. We expect to continue our growth through acquisition providing an even more convenient branch network for the Bank's expanding Northern California customer base."

The Bank purchased Central Bank in May 1990, acquired the 30 Northern California branches of Imperial Federal Savings in April 1991 and 11 Northern California branches of Atlantic Financial in April 1992, and 15 Citibank branches in 1994.

The Bank, with 1,795 employees, reported first quarter earnings of $9 million, up 24 percent over same period last year.

Founded in 1874, Bank of the West is the fifth oldest and one of the State's largest community banks. The Bank is a member of Banque Nationale de Paris Group (BNP). Headquartered in Paris, France, BNP is one of Europe's largest banks and one of the largest in the world with over 2,300 offices in 80 countries.

CONTACT: Bank of the West

Robert S. Raye, 510/942-8585