Why did bank of the west sell to bmo

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BMO Bank Review - Is It Worth It? (2024)
Bank of Montreal has received approval from the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-. The acquisition of Bank of the West adds nearly million customers to BMO, extending its banking presence with additional branches and. BMO will acquire Bank of the West for a cash purchase price of $ billion, or $ billion net of the estimated $ billion of excess capital at closing.

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By Kevin Wack. Net interest margin in the same U. The Pittsburgh-based superregional bank plans to build more than new branches in 12 states by , twice the number it announced in February, in a bid to increase scale. In January , Bank of the West opened a representative office in Tokyo , Japan , and in September , it opened a representative office in Taipei , Taiwan. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: the anticipated benefits from the proposed transaction, such as it growing our U.