Question 1

What is Central Pacific Bank?

Accepted Answer

Central Pacific Bank is a regional commercial bank serving the state of Hawaii with 27 branches across the islands. Headquartered in Honolulu, the bank offers comprehensive personal, business, and commercial banking services to individuals, families, and businesses throughout Hawaii. With approximately $7.4 billion in assets, Central Pacific Bank is deeply rooted in Hawaiian history and culture, emphasizing community support and inclusive banking practices.

The bank is a primary subsidiary of Central Pacific Financial Corp., which is publicly traded on the New York Stock Exchange under the ticker symbol CPF. Central Pacific Bank is known for its commitment to small business lending, having provided more U.S. Small Business Administration (SBA) loans than all other Hawaii banks combined.

Question 2

When was Central Pacific Bank founded?

Accepted Answer

Central Pacific Bank was founded in 1954 by Japanese American nisei (second-generation) veterans who served in the legendary 442nd Regimental Combat Team, 100th Infantry Battalion, and Military Intelligence Service, including future U.S. Senator Daniel Inouye. These young veterans, inspired by their "Go for Broke" spirit, refused to accept the social inequities immigrant families in Hawaii faced after World War II.

The founders met regularly under the banyan trees of Ala Moana Beach Park to pursue their vision of creating a bank that would serve all of Hawaii's people. They raised $1 million in capital through grassroots efforts across the islands and received managerial assistance from Sumitomo Bank, which had operated in Hawaii prior to WWII.

Central Pacific Bank received its charter on January 29, 1954 and officially opened for business on February 15, 1954 in downtown Honolulu with nine employees. The opening was celebrated with 10,000 firecrackers and a traditional Chinese ceremony. Central Pacific Bank became the first bank to open in Hawaii since 1935 and the first to receive an original charter since 1922.

Question 3

Where is Central Pacific Bank headquartered?

Accepted Answer

Central Pacific Bank is headquartered in Honolulu, Hawaii. Since 1983, the bank's corporate headquarters has been located in the Central Pacific Plaza, a 22-story office tower at the corner of King and Alakea streets in downtown Honolulu.

Ground was broken for Central Pacific Plaza on July 14, 1981, and construction was completed in 1982. The building serves as a prominent symbol of the bank's growth and commitment to Hawaii's future, providing high visibility in the heart of Honolulu's business, financial, and government district.

Question 4

Where does Central Pacific Bank operate?

Accepted Answer

Central Pacific Bank operates exclusively throughout the state of Hawaii with 27 full-service branches across multiple islands:
• Oahu: Downtown Honolulu, Waikiki, Kaneohe, Moiliili, Makiki, Kaimuki, Kalihi, Moanalua, Pearlridge, Hawaii Kai, Mililani, and other locations
• Hawaii Island (Big Island): Hilo and Kailua-Kona
• Maui: Kahului
• Kauai: Kapaa

The bank's statewide presence allows it to serve communities across the Hawaiian Islands while maintaining strong local connections and understanding of regional needs.

Question 5

What services does Central Pacific Bank offer?

Accepted Answer

Central Pacific Bank offers a comprehensive range of banking services, including:
• Personal Banking: Checking and savings accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), and Shaka Checking (Hawaii's first all-digital checking account launched in 2021)
• Business Banking: Business checking and savings, commercial loans, lines of credit, and specialized small business support
• Commercial Banking: Commercial real estate financing, construction loans, and corporate lending services
• SBA Lending: The bank provides more SBA loans than all other Hawaii banks combined and was the first bank in the state to offer an online portal for SBA services
• Mortgage Services: Home loans and residential mortgage products
• Credit Cards: Personal and business credit card programs
• Wealth Management: Insurance products, trust services, and investment advisory services
• Digital Banking: Mobile banking apps, online banking platforms, live chat customer service (first Hawaii bank to offer this feature), and remote banking capabilities
• Treasury Management: Cash management and corporate banking solutions

The bank's online portal for Paycheck Protection Program (PPP) applications resulted in the highest market share of PPP loans dispersed by any bank in any state during the pandemic.

Question 6

What makes Central Pacific Bank unique?

Accepted Answer

Central Pacific Bank stands out in several distinctive ways:

Historic Mission and Values: Founded by WWII veterans to combat social inequities, the bank carries a legacy of inclusivity and opportunity. Its "Go for Broke" spirit and commitment to serving all of Hawaii's people remain central to its identity. The bank's mission is "to make a positive difference in people's lives - beyond banking."

Community Commitment: Through the CPB Foundation established in 2007, the bank has donated millions of dollars to organizations supporting Hawaii's youth and social progress. The bank's 850+ employees contribute countless volunteer hours to local charitable organizations.

Small Business Champion: The bank leads Hawaii in SBA lending and offers the WE by Rising Tide program, providing cohorts of women entrepreneurs with 10-week programs covering financial management, marketing, branding, and networking.

Innovation Leader: Central Pacific Bank was the first Hawaii bank to join the FDIC in 1954, launched Hawaii's first all-digital checking account (Shaka Checking) in 2021, and pioneered live chat customer service in the state.

Cultural Significance: The bank's opening in 1954 brought greater acceptance of Japanese Americans and other ethnic communities at other financial institutions and in Hawaii's society and economy at large.

Question 7

What type of financial institution is Central Pacific Bank?

Accepted Answer

Central Pacific Bank is a State-Chartered Regional Commercial Bank. As a full-service commercial bank, it provides comprehensive banking services to individuals, families, businesses, and organizations throughout Hawaii.

The bank operates as a regional institution with a unique focus on serving the Hawaiian Islands exclusively. This regional specialization allows Central Pacific Bank to develop deep expertise in local markets, understand the specific needs of island communities, and maintain strong cultural connections with Hawaii's diverse population.

As the primary subsidiary of Central Pacific Financial Corp., a bank holding company established in 1982, the bank combines the resources and stability of a publicly traded institution with the community focus and personalized service of a regional bank. Its commitment to the "Aloha Spirit" in banking reflects its distinctive approach to relationship-based financial services.

Central Pacific Bank

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About Central Pacific Bank in the United States