Bank of the West 2008 Annual Report Download - page 16

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COMMERCIAL BANKING
commercial credit cards were also provided to the Hays
Group in its buyout of Despatch Industries, which
manufactures heat treatment and environmental testing
equipment in Minnesota and exports to China, among
other countries. The new credit facility, including the
Export/Import Bank guarantee facilitated by the bank’s
International Trade office in Los Angeles, allows the
company to both expand U.S. production and promote
sales abroad.
The U.S. housing market collapse has created
difficulties for most real estate lenders, but
Bank of the West’s Real Estate Industries
division had successful new undertakings in
2008, including the lead syndication role and partial
($51.5 million) funding for construction of downtown
Sacramento’s 430,000 square-foot Bank of the West
Tower. Underway at 500 Capitol Mall and scheduled to
open in mid-2009, the 25-story glass and polished
granite tower will have the bank as a tenant and is
35% pre-leased. George and Angelo Tsakopoulos are
the developers.
On a specialized team that provides construction loans
as well as refinancing, 30 Bank of the West employees
devote their expertise to a national niche business
supporting established churches. One of the largest
religious institution lenders in the U.S., Bank of the
West has church assets of more than $1 billion and has
been a leader in the specialty for 20 years. Growing
churches like Bayside Covenant Church, Roseville,
California and Vineyard Church in North Phoenix,
Arizona now have thousands of members and have
repeatedly borrowed from the bank to build sanctuar-
ies, children’s buildings, administration buildings,
‘compassion buildings’ to stage food and clothing
distributions to those in need, even bookstores.
Since 2006, Bank of the West has opened commercial
banking and agribusiness banking offices in cities
across the 19-state footprint. The Kansas City team,
new in 2007, initiated its most significant relationship
to date with a credit and services facility for a
developer of specialized software. Leveraging the
Like an arrangement between CLAAS and BNP Paribas Lease Group in Europe,
the U.S. financing joint venture with Bank of the West is increasing sales
and helping CLAAS of America compete. “We devised a custom solution
together that was just right for our company and the bank,” said Russ Green,
CLAAS of America president.
Customizing
Supporting
We engage with clients throughout the credit cycle to
fully understand and advise.
CLAAS of America President Russ Green, right, with the bank's Executive Vice President Jerry Newell,
head of Equipment Finance.