citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . january 2010 learn how and when to remove this template message bank of hawaii corporation type public traded as nyse boh industry finance founded honolulu hawaii 1897 founder charles montague cooke peter cushman jones and joseph ballard atherton headquarters honolulu hawaii key people peter s. ho chairman & ceo donna tanoue vice chair products banking revenue us 766m fy 2009 1 net income us 144m fy 2009 1 total assets us 12.4 b fy 2009 2 total equity us 896m fy 2009 2 website www.boh.com the bank of hawaii corporation boh is a regional commercial bank headquartered in honolulu hawaii . it is hawaii s second oldest bank and its largest locally owned bank in that the majority of the voting stockholders reside within the state . bank of hawaii has the most accounts customers branches and atms of any financial institution in the state although bancwest s first hawaiian bank holds a greater number of dollars in deposits . the bank consists of four business segments retail banking commercial banking investment services and treasury . 3 the bank is currently headed by chairman president and chief executive officer peter s. ho . 4 contents 1 beginnings 2 bank of maui 3 international expansion 4 reorganization 5 name change 6 international acquisitions 6.1 sale of some international holdings 7 closure of several branches 8 governance 9 references 10 external links beginnings edit in 1893 charles montague cooke 1849 1909 with his brother in law joseph ballard atherton and business partner peter cushman jones founded bank of hawaii . in 1897 it was chartered in the republic of hawaii by interior minister james a. king . 5 a decade after its founding in 1903 the bank opened its first branch in kauai . in 1922 the bank acquired first bank of hilo which had four branches . in 1930 it amalgamated bank of maui . bank of maui edit charles dexter lufkin organized first national bank of wailuku in 1901 . 6 five years later he had organized lahaina national bank . then he organized the first national bank of paia in 1913 . 6 lastly in 1917 first national bank of paia merged with lahaina national bank and first national bank of wailuku to form bank of maui . 6 international expansion edit it was not until 1959 that boh made another novel move when it opened its first pacific islands branch on kwajalein . two years later it opened a branch in both palau and guam . ten years later boh continued its international expansion by absorbing bank of american samoa which the navy had established in 1914 . that same year it created banque de tahiti as a joint venture between itself and cr dit lyonnais . the next year boh established a branch in yap . branches in ponape and kosrae followed in the subsequent years . reorganization edit in 1971 boh reorganized as a bank holding company named hawaii bancorporation . it also continued its expansion outside hawaii with the establishment of a branch in saipan . three years later boh and cr dit lyonnais established another joint venture banque de nouvelle cal donie in noum a. in 1979 hawaii bancorporation changed its name to bancorp hawaii . the next year boh opened a branch in tokyo . in 1985 boh merged with hawaiian trust company . four years later boh finally expanded to the us mainland when it bought first national bank of arizona . the next year it continued its expansion in hawaii with the purchase of firstfed america which was a holding company for banks in hawaii and in guam . boh acquired wells fargo bank s seoul korea and singapore operations in 1991 . two years later it acquired banque indosuez s operations in vanuatu which became banque d hawaii vanuatu . that same year boh also opened its first branch in suva fiji in 1993 . branches in nadi and lautoka followed . in 1994 boh acquired commonwealth bank of australia s shares in national bank of solomon islands . boh also acquired cr dit lyonnais holdings in banque de nouvelle cal donie giving boh 91 percent ownership . name change edit in 1997 bancorp hawaii changed its name to pacific century financial corporation pcfc . banque de nouvelle cal donie changed its name to bank of hawaii nouvelle cal donie . boh also purchased banque indosuez nuigini in papua new guinea from banque indosuez and renamed it bank of hawaii png ltd. in addition to its main office in port moresby bank of hawaii png also had an office in lae png s second port city on the northeast coast . indosuez nuigini was established in 1983 with 49 percent indosuez participation 41.5 percent bank of papua new guinea and the remainder public . pcfc acquired california united bank . other pacific century subsidiaries included first federal savings and loan association of america in hawaii which later merged into boh and pacific century bank and pacific century savings in arizona . international acquisitions edit in 1998 boh bought 5.4 mn convertible notes of bank of queensland as part of a strategic alliance giving rise to a true reflecting of the convertible note value into 49 % ownership at that time . it also acquired 100 percent of banque paribas pacifique est. 1972 ; 3 branches and 70 percent of banque paribas polyn sie est. 1984 ; 1 branch . boh integrated the operations with bank of hawaii nouvelle cal donie and banque de tahiti respectively . pcfc merged its two mainland subsidiaries california united bank and pacific century bank in arizona into one nationally chartered entity pacific century bank headquartered in california . in 1999 boh bought 5.8 mn shares approx . 10 percent in bank of queensland and it also bought first federal savings and loan from its own holding company . in 2000 pcfc s subsidiary pacific century bank sold its nine branches in arizona to zions bancorporation for merger into zions subsidiary national bank of arizona . sale of some international holdings edit in 2001 boh sold its 6.2 mn shares and 5.4 mn convertible notes in bank of queensland . the decision reflected pcfc s new strategic plan which mandated a focus on the bank s core markets in hawaii the west pacific american samoa and japan . pcfc sold its pacific century bank pcb subsidiary to u.s. bancorp. the subsidiary had 20 branches in southern california . boh sold its shareholding in the bank of tonga and pacific commercial bank of samoa to westpac . boh and westpac both had 30 percent interests in bank of tonga and 42 percent interests in pacific commercial bank . boh sold its operations in papua new guinea vanuatu and fiji to anz . boh sold its approximately 95 percent share interest in its french polynesia and new caledonia operations to france based caisse nationale des caisses d epargne cnce . its operations in french polynesia included 17 branches of its subsidiary banque de tahiti and about 265 employees . its operations in new caledonia included eight branches of subsidiary bank of hawaii nouvelle caledonie and about 190 employees . lastly boh closed its offices in hong kong seoul singapore and taipei . closure of several branches edit in 2002 boh was unable to find a buyer . therefore it closed its majuro branch in the republic of the marshall islands rmi and its three branches in pohnpei yap and kosrae in the federated states of micronesia fsm . boh turned over its 51 percent interest in national bank of solomon islands to the government of the solomon islands . pacific century financial reverted to the bank of hawaii name . governance edit michael o neill served as chairman and ceo from november 2000 to 2004 when allan r. landon the president assumed both additional positions . o neill did not take a salary or any bonuses during his three years at the helm but in 2004 he controlled about 2.73 million about 5 percent of the bank s total shares directly or under option . 7 he later served on the board of citigroup appointed in 2009 . 8 9 under landon s leadership the bank of hawaii survived the financial crisis without federal assistance and prospered in its aftermath . in 2010 after retirement from the bank landon helped create community bancapital of portland oregon 10 taught at the state universities of utah and hawaii and served on the boards of the public broadcasting service and the smithsonian institution . in early 2015 president barack obama nominated landon 65 to serve on the federal reserve board of governors . 11 references edit a b bank of hawaii boh annual sec income statement filing via wikinvest . a b bank of hawaii boh annual sec balance sheet filing via wikinvest . bank of hawaii corporation . the new york times . retrieved 21 november 2012 . peter ho profile . forbes . retrieved 21 november 2012 . about bank of hawaii . official web site . bank of hawaii . retrieved august 20 2010 . a b c john william siddall 1921 . men of hawaii being a biographical reference library complete and authentic of the men of note and substantial achievement in the hawaiian islands . honolulu star bulletin . p. 259 . bank of hawaii ceo o neill stepping down associated press via honolulu advertiser july 26 2004 9 02 a.m. retrieved 2011 06 26 . seib christine citigroup board shaken up with 3 new members the times july 24 2009 . retrieved 2011 06 26 . citigroup says director grundhofer stepped down from board san francisco chronicle with bloomberg june 24 2011 . retrieved 2011 06 26 . website appelbaum binyamin allan landon community banker nominated to federal reserve new york times january 6 2015 . retrieved 2015 01 06 . external links edit official website retrieved from https en.wikipedia.org w index.php title bank of hawaii & oldid 743560062 categories companies listed on the new york stock exchangebanks based in hawaiibanks established in 18971897 establishments in hawaiihidden categories articles needing additional references from january 2010all articles needing additional referencespages using infobox company 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