Central Pacific Bank

Central Pacific Financial Corporation
NYSE: CPF
S&P 600 component
Headquarters
Honolulu, Hawaii
,
U.S.

Central Pacific Bank is an American regional commercial bank headquartered in Honolulu, Hawaii. It was founded by Koichi Iida, a Honolulu business leader, with assistance from Sumitomo Bank in Japan. Mr. Iida was President from 1954 to 1960.[1] It is the main subsidiary of Central Pacific Financial Corporation (NYSE: CPF). The bank is the fourth-largest financial institution in Hawaii, with $6.6 billion in assets as of December 31, 2020.[2]

Central Pacific Financial Corporation

Central Pacific Financial Corporation is a bank holding company based in Honolulu, Hawaii, whose primary subsidiary is Central Pacific Bank. In 2004, Central Pacific Financial Corporation acquired CB Bancshares, Inc.[3] CB Bancshares' main subsidiary was City Bank of Honolulu, and it traded on NASDAQ under CBBI ticker. Before the merger, Central Pacific was the third largest and CB Bancshares was the fourth-largest bank holding company in Hawaii. The merger left Central Pacific as the third largest. The management of CB Bancshares opposed the acquisition.[4]

References

  1. ^ "Untold Story Behind Origin of Central Pacific Bank". Honolulu Record. Vol. 10, no. 49. 3 July 1958. p. 3.
  2. ^ "Central Pacific Financial Corp. Reports Fourth Quarter 2020 Quarterly And Annual Results". Retrieved 27 January 2021.
  3. ^ "Central Pacific and City Bank Agree to Merge". PRNewswire-FirstCall. April 23, 2004. Retrieved 19 August 2012.
  4. ^ "Central Pacific Financial Corp. Honolulu, Hawaii: Order Approving the Acquisition of a Bank Holding Company" (PDF). FEDERAL RESERVE SYSTEM. Retrieved 19 August 2012.


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