Bank of the West

Bank of the West was founded in 1874 and has 681 branches in 16 states.  It is headquartered in San Francisco, California. The states served by Bank of the west include, California, Arizona, Colorado, Idaho, Iowa, Minnesota, Nebraska, Nevada, North Dakota, New Mexico, Oregon, South Dakota, Utah, Washington, Wyoming, and Wisconsin.

Bank of the West Mortgage Options

Both First Hawaiian Bank and Bank of the West offer fixed rate (the interest rate stays the same for the life of the loan) mortgages with 10,15, 20, 25, and 30 year terms.  Adjustable rate mortgages are also offered.  In this type of loan the interest rate stays fixed for a certain term and then reflects the market rate.  These are offered in 1, 3, or 5 year terms with a 30 year life. Bank of the West and First Hawaiian Bank also funds FHA and VA loans.  These are insured by the Federal Housing Authority and the Veteran’s Administration, respectively, and generally have less strident requirements than conventional loans.    A first time buyers plan for residents of Hawaii and Guam is offered by First Hawaiian Bank.  Bank of the West has special programs for low and moderate income home buyers called Community 97 and Community 100 Plus.  In both these programs as little as $500 may be used for the down payment, no cash reserves are required at closing and a higher percentage of the home buyer’s income can be used  for qualifying.    Both banks offer pre-approval and online application.  Of course applications may be submitted in person. 

Key executives for BancWest Corporation include Walter A. Dods, Jr., Chairman and Don J. McGrath, President and Chief Executive Officer. BankWest Corporation has $50054 millions in assets and posted a pretax earning of $772 million in 2005.  BankWest’s philosophy is “community banks with high tech power”.   Each of its subsidiary are full service community banks.  They are small enough to provide personal attention to the financial needs of individuals and small to medium sized businesses, yet can call upon the financial and technical strength of their parent corporation for high-tech state of the art products and services.

BancWest Corporation strives to keep in touch with their community .  They work to create loan types specific to the needs of their market.  They are willing to work with the individual to find the best type of mortgage for them.

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