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A summary of the Bank's nonvested options and changes during the years ended December 31, 2011 <br />and 2010 is presented below. <br />Nonvested Options Outstanding <br />Options outstanding at January 1, 2010 <br />Granted <br />Vested <br />Forfeited <br />Options outstanding at December 31, 2010 <br />2011: <br />Granted <br />Vested <br />Forfeited <br />Options outstanding at December 31, 2011 <br />Number <br />575,620 <br />87,735 <br />(166,531) <br />(30,059) <br />466,765 <br />90,569 <br />(173,062) <br />(3,784) <br />380,488 <br />Weighted -Average <br />Grant -Date <br />Fair Value <br />$36.60 <br />34.28 <br />32.72 <br />40.33 <br />37.30 <br />$31.37 <br />34.87 <br />41.44 <br />38.62 <br />A summary of the Bank's vested and exercisable options and changes during the years ended <br />December 31, 2011 and 2010 is presented below. <br />Vested and Exercisable Options Outstanding Number <br />Outstanding at January 1, 2010 <br />Vested <br />Exercised <br />Forfeited <br />Weighted- Aggregate <br />Weighted- Weighted- Average Intrinsic <br />Average Average Remaining Value <br />Grant -Date Exercise Contractual (dollars in <br />Fair Value Price Life (in years) thousands) <br />244,340 $36.55 <br />166,531 32.72 <br />(8,217) 41.92 <br />(16,784) 34.21 <br />Vested and exercisable options outstanding at <br />December 31, 2010 385,870 35.67 <br />2011: <br />Vested 173,062 $34.87 <br />Exercised (12,847) 37.07 <br />Forfeited (2,070) 35.35 <br />$74.76 3.36 $ 99.16 <br />89.53 2.75 472.78 <br />Vested and exercisable options outstanding at <br />December 31, 2011 544,015 35.38 98.04 2.23 <br />23. Subsequent Events <br />We have evaluated the effects of subsequent events that have occurred after December 31, 2011 and <br />through March 5, 2012, the date of our financial statement issuance. Refer to Note 14 for details of a <br />Notice of Settlement for a class action complaint in 2011. <br />-59- <br />2011 Bank of the West Annual Report <br />