Bank of the West 2005 Annual Report Download - page 9
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Please find page 9 of the 2005 Bank of the West annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.7
Ascustomerneedsgrow,sodoesour
bankingrelationshipwiththem.Bankof
theWesthassupportedoneagricultural
customer,HilmarCheese,for22years.
Webeganourrelationshipin1983with
a$1.2millionloan.Today,theModesto,
California-basedcompanyisthelarg-
estsingle-locationcheeseproducerin
theworld.HilmarCheesehasgrown
toabsorb10%ofCalifornia’stotalmilk
production,makingmorethanamillion
poundsofcheesedaily.Overtheyears,
HilmarCheesehasbecomeBankof
theWest’slargestandlongest-lasting
agriculturalrelationship.
Developingacustomerrelationship
involveslisteningtothecustomerand
designingapackageofservicesand
productstailoredtomeettheirneeds.
MentorCorporation,aSantaBarbara,
California-basedmedicalspecialtyde-
vicemanufacturerwantedtoinvestin
itsgrowthaswellashavetheflexibility
tomakestrategicinvestments,should
opportunitiesarise.In2005,Bankof
the West structureda$200million
syndicatedloanforMentorCorpora-
tiontoexpanduponthesuccessitwas
alreadyachievingandan“accordion”
expansionloanof$50milliontoac-
commodatefuturegrowth.
ManyclientsalsoutilizeBankofthe
West’sinterdisciplinarycapabilities
tohelp themachievecost savings.
OurCapitalMarketsservice,forex-
ample,assistscustomerswithadvice
andexecutionoffinancialtransactions
inalmosteveryworldcurrency.APort-
land,Oregon-basedsteelmanufacturer
recentlysoughttopurchasenewcut-
tingequipmentfromNewZealandand
askedforbothaNewZealandanda
U.S.dollarsalespricefromthesupplier.
WorkingwiththeForeignExchange
deskatBankoftheWest,theclientwas
abletoeffectivelyvaluethepricingop-
tionsandthusrealizesavings.
BankoftheWest’smostdurableagriculturebankingrelationshipiswith22-yearclientHilmarCheeseofModesto,California.Theworld’s
largestsingle-sitecheesemanufacturerproducesmorethanamillionpoundsofcheeseeveryday.
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