Bank of the West to Acquire Bank of America's Clearlake Branch.CLEARLAKE, Calif.--(BUSINESS WIRE)--Aug. 4, 1997--Bank of the West and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. today jointly announced that Bank of America's Clearlake branch will be acquired by Bank of the West. The acquisition is subject to federal regulatory approval, after which detailed information will be sent to each customer of the branch. "The purchase of the Clearlake branch by Bank of the West will ensure continuity of banking services for the community," said Bank of America District Manager Marlene Stante. She described the sale as part of an effort by BofA to adjust its retail banking franchise. "Like any retailer, we continually evaluate our business to allocate To reserve a resource such as memory or disk. See memory allocation. our resources as effectively as possible. This is a dynamic, ongoing process in which we may sell or consolidate locations -- as well as open new facilities -- as market circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or require." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Stante, the fact that BofA does not have extensive retail operations in the area was a key consideration in its decision to sell the branch. By reallocating some of its resources, Bank of America feels it will be able to best serve the majority of its customers. Don McGrath, President and Chief Executive Officer of Bank of the West stated: "We welcome the customers and employees of the Clearlake branch of Bank of America to Bank of the West. We are pleased to enhance our Clearlake presence and provide a larger and more convenient location for our customers." Founded in 1874, Bank of the West is California's fifth oldest and fifth largest bank with 104 branches in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern . The bank is a member of Banque Nationale Banque Nationale (French: "National bank") may refer to:
Bank of the West and Bank of America are mutually committed to a smooth transition as customer accounts are transferred from BofA to Bank of the West. CONTACT: Bank of the West Bob Raye, 510/942-8585 or Bank of America Harvey Radin, 415/622-6320 |
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