Business Description
Through our bank and its subsidiaries, we offer full-service commercial banking
with 36 bank branches and 103 ATMs located throughout the state of Hawaii. Our
administrative and main offices are located in Honolulu and we have 28 branches
on the island of Oahu. We operate four branches on the island of Maui, two branches
on the island of Hawaii and two branches on the island of Kauai. Our bank’s
deposits are insured by the Federal Deposit Insurance Corporation (“FDIC”)
up to applicable limits. The bank is not a member of the Federal Reserve System.
Central Pacific Bank is a full-service commercial bank offering a broad range
of banking products and services, including accepting time and demand deposits
and originating loans. Our loans include commercial loans, construction loans,
commercial and residential mortgage loans and consumer loans.
We derive our income primarily from interest and fees on loans, interest on
investment securities and fees received in connection with deposit and other
services. Our major operating expenses are the interest paid by our bank on
deposits and borrowings, salaries and employee benefits and general operating
expenses. Our bank relies substantially on a foundation of locally generated
deposits. For financial reporting purposes, we have the following three reportable
segments: (1) Banking Operations, (2) Treasury and (3) All Others.
Our operations, like those of other financial institutions that operate in our
market, are significantly influenced by economic conditions in Hawaii, including
the strength of the real estate market, as well as the fiscal and regulatory
policies of the federal and state government and the regulatory authorities
that govern financial institutions. See “—Supervision and Regulation”
below for other information about the regulation of our holding company and
bank.
Central Pacific Bank is the wholly-owned principal subsidiary of Central Pacific
Financial Corp. Other wholly-owned subsidiaries include: CPB Capital Trust II;
CPB Statutory Trust III; CPB Capital Trust IV; and CPB Statutory Trust V.
As of December 31, 2015, Central Pacific Bank does not have any wholly-owned
subsidiaries. Central Pacific Bank owns 50% of Pacific Access Mortgage, LLC,
Gentry HomeLoans, LLC, Haseko HomeLoans, LLC, Island Pacific HomeLoans, LLC,
and One Hawaii HomeLoans, LLC.
0.82% 
9.18 %