Central Pacific Bank Corp.'s wholly owned subsidiary, Central Pacific Bank, is a regional commercial bank headquartered in Honolulu, Hawaii. Central Pacific Bank provides a full range of banking, investment and trust services to small business and families on the Islands, including: demand deposits, personal and business checking and savings accounts, money market accounts, certificates of deposits (CDs), individual retirement accounts (IRAs), etc. While Central Pacific Bank specializes in residential mortgages and SBA lending, it also offers commercial loans, construction loans, commercial and residential real estate loans and consumer loans. In addition, it offers wealth management products and services including annuities, insurance, investment management, asset custody and general consultation and planning services. Finally, Central Pacific Bank offers such convenient services as debit cards, online BillPay, Internet and telephone banking, ATMs, cash management services, travelers checks, safe deposit boxes, international banking, remote banking, night depository facilities and wire transfers.
1954: Central Pacific Financial Corp is founded by a small group of World War II veterans, including decorated veterans Sen. Daniel K. Inouye, Elton Sakamoto and Sakae Takahashi, to help immigrant families build a life away from the plantations
1958: Central Pacific Financial Corp. begins paying dividends semiannually.
1988: Central Pacific Financial Corp. begins paying quarterly dividends.
1991-1993: Central Pacific Financial Corp. acquires two branches of First Hawaiian Inc., and with it, over 40,000 deposits.
2002: For the third time, Central Pacific Bank, Inc. is ranked among the top mid-sized banks in the nation (4th) with assets of $1.8 to $5 billion.
2003: Central Pacific Financial Corp. sues the Board of Directors of CB Bancshares, Inc. for breaching their fiduciary duties in proposed merger deal.
January 2004: Central Pacific Financial Corp. reports a fifth consecutive year of record earnings with net income of $33.9 million for the 2003 fiscal year.
April 2004: Central Pacific Financial Corp. announces its merger with holding company CB Bancshares, Inc (principal subsidiary City Bank), wherein Central Pacific will acquire all of the outstanding stock of City Bank for a projected $412.8 million. The merger, completed in February 2005, increases Central Pacific Bank's assets to over $4 billion and market capitalization over $700 million.
February 2005: Central Pacific Bank continues to expand with the opening of branches in Kapolei, Oahu and Wailuku, Maui. The addition of these two branches gives Central Pacific Bank 37 locations.