Bank of the West Rates & Review

Bank of the West Review

Bank of the West, based in San Francisco, has customers in 50 states and operates more than 700 branches and commercial offices in the West and Midwest.

Bank of the West has been in business since 1874 when it opened its doors as the Farmers National Gold Bank. It was one of only 10 banks in the nation authorized to issue paper currency backed by gold reserves. Over the years the bank has acquired several banking institutions and now has customers in all 50 states. As of 2010 the San Francisco-based bank has more than $62 million in assets and operates more than 700 branches and commercial offices in 19 Western and Midwestern states.

Community involvement

The bank maintains a prudent approach to lending and underwriting. Bank of the West works to maintain loyal customers by providing strong service from friendly and knowledgeable team members. It also aims to assist communities not only with financial needs, but through volunteerism, charitable giving, and sponsorships. The bank has a goal to provide $75 billion in loans, investments, and charitable contributions by 2015 to strengthen local neighborhood.

Personal banking

Bank of the West offers a variety of personal banking products. Accounts can be opened online and deposits are insured by the Federal Deposit Insurance Corp. Checking accounts include free checking and interest-bearing accounts. Bank of the West offers regular and online savings accounts and a variety of money market account options including one that offers tiered rates for higher balances. CD terms range from as short as seven days to as long as five years. Loans, insurance, and investment services are also available.

Business banking

Small business services at Bank of the West include checking accounts, savings accounts, credit cards, loans, payroll services, business insurance, and merchant services. Industry specialities offered include agriculture, church banking, construction lending, and real estate. Commercial services include equipment financing, international services, business insurance, and commercial lending.