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This story is about the banking company, Bank of the West, and the bank holding company that controls it, BancWest. This consolidation of capital between European, Hawaii and the California based Bank of the West has created the 2nd largest bank in Utah. The public should be concerned about these mega changes in the banking system because of the similarities they bare to the changes in the banking system that caused the failure of the thrift banks throughout the country in the 80s. The politically connected role of 1st Hawaiian Bank is integrally linked to Washington and Wall Street. The problems are based on loan losses that may have been carried on the books of 1st Hawaiian Bank since 1975, when Hawaii s first thrift bank failed.