First Hawaiian Bank

First Hawaiian Bank First Hawaiian Bank is a Hawaiian bank that was founded in 1870, making it one of the oldest banks in the United States. With its headquarters in Honolulu, Oahu, Hawaii, the bank has a long history of serving the financial needs of individuals, businesses, and institutions in the Hawaiian Islands. First Hawaiian Bank is a subsidiary of Bank of Hawaii's former parent company, but is currently a part of First Hawaiian, Inc., a publicly traded company. The bank operates 54 branches across Hawaii, Guam, and the Northern Mariana Islands.

History

First Hawaiian Bank was founded in 1870 by a group of American and European businessmen, including King Kalākaua of Hawaii, who granted the bank a charter to operate in the kingdom. The bank's early years were marked by significant growth and development, driven by the expansion of the Hawaiian sugar industry and the growth of tourism in the islands. In 1893, the bank was reorganized as a national bank and began to operate under the name First National Bank of Hawaii. Over the years, the bank has undergone several mergers and acquisitions, including a major merger with Bank of Hawaii's competitor, Hawaiian National Bank, in 1956.

Operations and services

First Hawaiian Bank offers a wide range of financial services to its customers, including consumer banking, commercial banking, investment banking, and wealth management. The bank operates a network of 54 branches and automated teller machines (ATMs) across Hawaii, Guam, and the Northern Mariana Islands, providing customers with convenient access to banking services. The bank also offers a range of online and mobile banking services, allowing customers to manage their accounts and conduct transactions remotely. In addition, the bank provides various financial products, such as mortgage loans, credit cards, and investment products, through its partnerships with Fannie Mae, Freddie Mac, and other financial institutions.

Corporate governance

First Hawaiian Bank is a subsidiary of First Hawaiian, Inc., a publicly traded company listed on the NASDAQ stock exchange. The bank's parent company has a board of directors that oversees the bank's strategy and operations. The bank's management team is led by Donna Shalala, who serves as the bank's president and CEO. The bank's corporate governance structure is designed to ensure that the bank operates in a safe and sound manner, with a focus on risk management and compliance with regulatory requirements.

Financial performance

First Hawaiian Bank has a strong financial performance record, with consistent profitability and growth in assets and deposits. In 2020, the bank reported net income of $225 million, with total assets of $68 billion and total deposits of $57 billion. The bank's financial performance is driven by its diversified business mix, which includes a strong commercial banking franchise, a growing consumer banking business, and a wealth management business that serves high-net-worth individuals and institutions. The bank's financial performance is also supported by its strong capital position, with a common equity tier 1 (CET1) capital ratio of 13.4%.

Community involvement

First Hawaiian Bank is committed to giving back to the Hawaiian community, with a focus on philanthropy, community development, and financial education. The bank supports a range of charitable organizations and initiatives, including the First Hawaiian Bank Foundation, which provides funding for education, healthcare, and economic development programs in Hawaii. The bank also offers various financial education programs, including budgeting and savings programs for students and young adults. In addition, the bank participates in various community development initiatives, such as affordable housing and small business development programs, to support the economic growth and well-being of the Hawaiian community. Category:Companies based in Hawaii