in

Bank holding company: Bank of Hawaii Corporation (BOH) (1897)

Bank of Hawaii Corporation (NYSE:BOH) was founded in 1897 and is headquartered in Honolulu, Hawaii, USA, with 2,125 full-time employees. It is a bank holding company that provides financial services in Hawaii, Guam and other Pacific Islands through controlling Bank of Hawaii. product and service.

Bank of Hawaii Corporation

Bank of Hawaii Corporation (BOH):

Bank of Hawaii (BOH) is a regional commercial bank headquartered in Honolulu, Hawaii. It is the second oldest bank and largest local bank in Hawaii. Most voting shareholders live in the state. Bank of Hawaii has the most accounts, customers, branches, and ATMs in the state ( First Hawaiian Bank under BancWest has the largest number of deposits).

The Bank of Hawaii is divided into 4 departments to operate : Retail Banking, Commercial Banking, Investment Services, Treasury and Other.

1. Retail Banking ——Provide financial products and services for consumers and small businesses, including: providing checking, savings and fixed deposit accounts; loan and leasing products, such as mortgage loans, real estate credit lines, car loans and leases, personal credit Loans, installment loans, small business loans and leases, and credit cards; and retail insurance products; the department provides its products and services through 70 branches and 456 ATMs in Hawaii and the Pacific Islands, as well as through customer service centers, online and mobile banking .

2. Commercial Banking -The product line includes corporate banking, commercial real estate loans, commercial lease financing, auto dealer financing and deposit products. It provides commercial loans and deposit products to mid-market and large companies; and commercial real estate mortgages to investors, developers and builders. The department also provides international banking services; and merchant services to small business customers.

3. Investment Services ——Provide private banking and international client banking, trust, investment management and institutional investment consulting services. This department serves individuals and families, high-net-worth individuals, companies, government entities and foundations. The department also provides brokerage services such as stocks, mutual funds, life insurance and annuity products.

4. Treasury and Other ——Provide corporate asset and liability management services, such as interest rate risk management and foreign exchange services.

Bank of Hawaii Corporation (BOH) History:

  • In 1897, it was chartered in the Republic of Hawaii;
  • In 1922, First Bank of Hilo was acquired;
  • In 1930, Bank of Maui was merged (In 1917, First National Bank of Paia merged with Lahaina National Bank and First National Bank of Wailuku to form Bank of Maui);
  • In 1971, BOH was reorganized into a bank holding company called Hawaii Bancorporation (Bank of Hawaii);
  • In 1979, Hawaii Bancorporation changed its name to Bancorp Hawaii;
  • In 1980, opened a branch in Tokyo, Japan;
  • In 1985, Bancorp Hawaii merged with Hawaiian Trust Company;
  • In 1989, BOH acquired First National Bank of Arizona and officially entered the U.S. inland;
  • In 1990, FirstFed America was acquired;
  • In 1991, BOH acquired the Seoul and Singapore operations of Wells Fargo Bank ;
  • In 1993, Bancorp Hawaii acquired Banque Indosuez’s Vanuatu business and built it as Banque d’Hawaii (Vanuatu);
  • In 1993, BOH entered the Fiji market;
  • In 1994, Bancorp Hawaii acquired Commonwealth Bank of Australia’s holdings in National Bank of Solomon Islands;
  • Then, BOH acquired Crédit Lyonnais’ holdings in Banque de Nouvelle Calédonie;
  • In 1997, Bancorp Hawaii changed its name to Pacific Century Financial Corporation (PCFC); BOH also acquired Banque Indosuez Nuigini from Banque Indosuez and renamed it Bank of Hawaii (PNG) Ltd.; PCFC acquired California United Bank;
  • In 1998, BOH purchased 5.4 million convertible notes from Bank of Queensland (ASX: BOQ) as part of the strategic alliance, which truly reflected the ownership of 49% of the convertible notes at the time; acquired Banque Paribas Pacifique 100 % Equity; acquisition of 70% equity of Banque Paribas Polynésie; BOH Group cooperates with Bank of Hawaii-Nouvelle Calédonie and Bank of Tahiti (Banque de Tahiti) respectively; PCFC merges its two inland branches-California United Bank and Pacific Century Bank (Arizona) became-Pacific Century Bank;
  • In 1999, BOH purchased 5.8 million shares (approximately 10%) of Bank of Queensland (ASX: BOQ), and also acquired First Federal Savings and Loan;
  • In 2000, PCFC subsidiary Pacific Century Bank sold its nine branches in Arizona to Zions Bancorporation and merged into the latter’s subsidiary National Bank of Arizona;
  • In 2001, BOH sold its 6.2 million shares and 5.4 million convertible notes in Bank of Queensland; PCFC sold its subsidiary Pacific Century Bank (PCB) to US Bancorp , including 20 branches; then, BOH sold its bank of Bank of Tonga, Pacific Commercial Bank of shares Samoa to Westpac ; then, BOH sold its operations in Papua new Guinea, Vanuatu and Fiji to ANZ (Australia and new Zealand banking Group, ASX: ANZ, NZX: ANZ); BOH Sale of 95% of its French Polynesia (including 17 branches of Banque de Tahiti) and New Caledonia (including 8 branches of Bank of Hawaii-Nouvelle Caledonie) business to Caisse Nationale des Caisses d’Epargne in France (CNCE); Immediately afterwards, BOH closed its offices in Hong Kong, Seoul, Singapore and Taipei;
  • In 2002, closed the branch in Majuro, Republic of the Marshall Islands; closed 3 branches in the Federated States of Micronesia; handed over 51% of National Bank of Solomon Islands to the Solomon Islands government;
  • Pacific Century Financial changed its name to “Bank of Hawaii”;
  • In early 2015, President Barack Obama nominated the 65-year-old chairman, president and CEO of the company, Allan R. Landon, as a member of the Federal Reserve Board.
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all Intels

The world’s top three semiconductor component distributors: Avnet (AVT) (1921)

American nutrition retailer and direct seller: Vitamin Shoppe (VSI) (1977)