Bank of the West 2009 Annual Report Download - page 5

The relationship banking approach that distinguishes Bank
of the West – with an unwavering focus on our customers –
proved valuable through the economic downturn. We’ve
steadily strengthened our relationships with commercial
and retail customers, measured by growth in core deposits,
accounts and households, stronger customer trust and
loyalty, and our clients’ decisions to deepen their relationships
with us.
J. Michael Shepherd
Chairman and CEO
March 31, 2010
Our Regional Banking Group recorded another year of
solid performance including a steady increase in the
number of customers who recommend to their family and
friends the value of doing business with Bank of the West.
This growing level of advocacy is not surprising to us. We
know the value of outstanding service and have embraced
it as part of our culture for many years.
Our multi-year upgrade of our branches achieved
significant milestones in 2009 with the deployment of new
technologies that speed processing and equip our teams
with the tools to better serve our customers.
We made exciting improvements last year to our online
banking service with new account opening capabilities
and more convenient bill payment and money transfer
features. We redesigned bankofthewest.com, and further
enhancements in our online services are coming in 2010
as we work to provide the best selection of options and
services for our customers.
We invested in our Small and Medium Enterprise banking
group, adding staff and dramatically expanding our direct
SBA lending at a time when so many small businesses were
struggling to find credit.
The positive performance of our core businesses, our
history of sound credit underwriting, and the support of
our strong parent BNP Paribas, allowed us to steadily build
our loan loss reserves throughout last year. As we enter
2010 the bank remains well capitalized and has solid
credit reserves.
Amidst all the changes in 2009, we marked the end of
an era as Don McGrath stepped down as Chairman in
December. His contributions to our bank over more than
30 years were tremendous. His vision and his dedication
to customer service, community support and growth truly
shaped our franchise and will inspire us in the future.
Late last year we mourned the death of Bob Fuhrman, who
provided invaluable guidance to our bank as a Director since
1981 and as Chairman of the Board from 1992 to 2005.
2009 was a challenging year for our industry and our
response to the challenge has been to retain our focus on
our customers, on business fundamentals and on making
the right investments for the future.
From this solid foundation, we stand poised and are
committed to provide the products and services to our indi-
vidual and business customers that will contribute to their
successes and to the economic recovery of our communities.
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