fbpx
Wikipedia

First Hawaiian Bank

January 01, 1970

First Hawaiian, Inc. is a bank holding company headquartered in Honolulu, Hawaiʻi. Its principal subsidiary, First Hawaiian Bank, founded in 1858, is Hawaiʻi’s oldest and largest financial institution headquartered in Honolulu, Hawaiʻi, at the First Hawaiian Center. The bank has 57 branches throughout Hawaiʻi, three in Guam and two in Saipan. It offers banking services to consumer and commercial customers, including deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian was listed on the NASDAQ on August 4, 2016, and made its debut at number 12 in the January 2017 publication of Forbes' America's 100 Largest Banks with $20 billion in total assets.[2] In 2019, BNP Paribas sold its stake in First Hawaiian Bank.[3]

First Hawaiian, Inc.
FormerlyBancWest Corporation
Company typePublic
IndustryBanking
Founded1858; 166 years ago (1858)
HeadquartersFirst Hawaiian Center
Honolulu, Hawaii, US
Area served
United States (Hawaii, Guam, and Northern Mariana Islands)
Key people
Robert S. Harrison, CEO & President
Revenue US$709 million (2016)
US$230 million (2016)
Number of employees
2,000+ (2022)[1]
Websitefhb.com

History edit

 
First Hawaiian Bank in Waikiki

In 1858, local businessmen, Charles Reed Bishop and William A. Aldrich, opened Bishop & Co. This was the first successful banking partnership under the laws of the independent Kingdom of Hawaiʻi. It operated from a basement room in "Makee & Anthon's Building" on Kaʻahumanu Street. On the day Bishop & Co. opened, it took in $4,784.25 in deposits.[4] In 1895, Samuel M. Damon bought Bishop & Co. from Charles Bishop.[5]

In 1910, Bishop & Co. bank opened its first branch in Hilo. It then opened its first Kauaʻi branch in Waimea in 1911. In 1919 Bishop & Co. incorporated as the Bank of Bishop & Co.[6]

 
A $50 National Bank Note issued by the Bishop First National Bank

During the 1920s the bank steadily grew, acquiring the Bank of Honolulu in 1922, opening a branch in Kona in 1923, and opening yet another branch on Lānaʻi in 1924. The bank's growth slowed after it merged with First National Bank of Hawaii, First American Savings Bank, Army National Bank of Schofield Barracks, and Baldwin Bank (Maui) in 1929. The bank then changed its name to Bishop First National Bank of Honolulu.

In 1933, the bank's name became Bishop National Bank of Hawaii at Honolulu. The bank's name changed yet again in 1956, this time to Bishop National Bank of Hawaii.[5]

In 1966, Cooke Trust Company acquired the bank. It was then changed to First Hawaiian Bank in 1969. The next year, in 1970, the bank opened its first branch on Guam in Dededo.

In 1975, First Hawaiian acquired Hawaii Thrift & Loan, which had been in financial difficulty, and turned it into First Hawaiian Creditcorp.

First Hawaiian Bank acquired many other banks during the 1990s. In 1991, First Hawaiian acquired First Interstate Bank of Hawaii. Then in 1992, it acquired the East West Bank, which had one branch in Honolulu and one on Maui.

In 1993, the bank acquired Pioneer Federal Savings Bank, which continued to operate as a separate institution.

 
First Hawaiian Center in Honolulu

In 1996, First Hawaiian acquired 31 branches in Oregon, Washington, and Idaho from U.S. Bancorp. It then created a new subsidiary - Pacific One Bank - to hold the branches, with a charter in Oregon. During the same year, First Hawaiian also acquired ANB Financial Corporation, which was the owner of American National Bank in central Washington state. American National's branches eventually became part of Pacific One Bank. At the same time as all of these mergers, First Hawaiian built its new headquarters, the First Hawaiian Center.[7] At 429 ft (131 m), it is the tallest building in Hawaiʻi.[8]

In 1997, First Hawaiian merged in Pioneer Federal and the next year merged in First Hawaiian Creditcorp. In the following year, 1998, First Hawaiian merged with San-Francisco-based Bank of the West.[9] The surviving company, First Hawaiian, Inc., was renamed BancWest Corporation. Former First Hawaiian, Inc. shareholders owned 55% of BancWest; Banque Nationale de Paris (BNP), former owner of Bank of the West, owned 45%.

In 2001, First Hawaiian Bank acquired Union Bank of California's branch network in Guam and Saipan. In December, BNP Paribas completed its acquisition of 100% of First Hawaiian Bank and its parent company BancWest. Bank of the West and First Hawaiian Bank, however, continued to operate as separate institutions.

On December 23, 2015, First Hawaiian Bank announced that parent company BNP Paribas was considering strategic options for the subsidiary, including an initial public offering.[10] On August 4, 2016, shares of the company started being sold on the NASDAQ.[11]

In 2018, Banque Nationale de Paris (BNP) reduced their stake in First Hawaiian to 33.3%,[12] and by January 2019, it had sold its remaining stake.[13]

See also edit

References edit

  1. ^ "First Hawaiian Inc. 10-K". United States Securities and Exchange Commission. 2023-02-24. Retrieved 2023-03-29.
  2. ^ "America's 100 Largest Banks"
  3. ^ Lombardi, Pietro. "BNP Paribas sells remaining First Hawaiian stake". MarketWatch. Retrieved 2020-01-28.
  4. ^ Hill, Tiffany (October 9, 2008). "The Centenarians". www.honolulumagazine.com. Retrieved 2018-12-29.
  5. ^ a b "150 years: First Hawaiian bank". the.honoluluadvertiser.com. December 16, 2007. Retrieved 2018-12-29.
  6. ^ Cecil G. Tilton. 1927. The History of Banking in Hawaii. University of Hawaii Research Publications No. 3.
  7. ^ Daysog, Rick (December 5, 2001). "BancWest deal set to close Dec. 20". archives.starbulletin.com. Retrieved 2018-12-29.
  8. ^ . www.emporis.com. Archived from the original on April 16, 2015. Retrieved 2018-12-29.
  9. ^ Histoire (4 June 2015). "Charles Reed Bishop (1822-1915), a philanthropic banker in Hawaii". BNP Paribas. Retrieved 2018-12-29.
  10. ^ "BNP Paribas Considering Strategic Options for First Hawaiian Bank". First Hawaiian Bank. Retrieved 2020-01-28.
  11. ^ Segal, Dave (2016-08-04). "First Hawaiian stock jumps 5.4% in market debut". Honolulu Star-Advertiser. Retrieved 2018-12-29.
  12. ^ "BNP Paribas to sell 20m shares in First Hawaiian Bank". www.ft.com. Retrieved 2020-01-28.
  13. ^ "Last Secondary Offering of First Hawaiian Common Stock - BNP Paribas". BNP Paribas. Retrieved 2020-01-28.

External links edit

  • First Hawaiian Bank website

January 01, 1970
first, hawaiian, bank, first, hawaiian, bank, holding, company, headquartered, honolulu, hawaiʻi, principal, subsidiary, founded, 1858, hawaiʻi, oldest, largest, financial, institution, headquartered, honolulu, hawaiʻi, first, hawaiian, center, bank, branches,. First Hawaiian Inc is a bank holding company headquartered in Honolulu Hawaiʻi Its principal subsidiary First Hawaiian Bank founded in 1858 is Hawaiʻi s oldest and largest financial institution headquartered in Honolulu Hawaiʻi at the First Hawaiian Center The bank has 57 branches throughout Hawaiʻi three in Guam and two in Saipan It offers banking services to consumer and commercial customers including deposit products lending services and wealth management insurance private banking and trust services First Hawaiian was listed on the NASDAQ on August 4 2016 and made its debut at number 12 in the January 2017 publication of Forbes America s 100 Largest Banks with 20 billion in total assets 2 In 2019 BNP Paribas sold its stake in First Hawaiian Bank 3 First Hawaiian Inc FormerlyBancWest CorporationCompany typePublicTraded asNasdaq FHBS amp P 600 componentIndustryBankingFounded1858 166 years ago 1858 HeadquartersFirst Hawaiian CenterHonolulu Hawaii USArea servedUnited States Hawaii Guam and Northern Mariana Islands Key peopleRobert S Harrison CEO amp PresidentRevenueUS 709 million 2016 Net incomeUS 230 million 2016 Number of employees2 000 2022 1 Websitefhb wbr com Contents 1 History 2 See also 3 References 4 External linksHistory edit nbsp First Hawaiian Bank in Waikiki In 1858 local businessmen Charles Reed Bishop and William A Aldrich opened Bishop amp Co This was the first successful banking partnership under the laws of the independent Kingdom of Hawaiʻi It operated from a basement room in Makee amp Anthon s Building on Kaʻahumanu Street On the day Bishop amp Co opened it took in 4 784 25 in deposits 4 In 1895 Samuel M Damon bought Bishop amp Co from Charles Bishop 5 In 1910 Bishop amp Co bank opened its first branch in Hilo It then opened its first Kauaʻi branch in Waimea in 1911 In 1919 Bishop amp Co incorporated as the Bank of Bishop amp Co 6 nbsp A 50 National Bank Note issued by the Bishop First National Bank During the 1920s the bank steadily grew acquiring the Bank of Honolulu in 1922 opening a branch in Kona in 1923 and opening yet another branch on Lanaʻi in 1924 The bank s growth slowed after it merged with First National Bank of Hawaii First American Savings Bank Army National Bank of Schofield Barracks and Baldwin Bank Maui in 1929 The bank then changed its name to Bishop First National Bank of Honolulu In 1933 the bank s name became Bishop National Bank of Hawaii at Honolulu The bank s name changed yet again in 1956 this time to Bishop National Bank of Hawaii 5 In 1966 Cooke Trust Company acquired the bank It was then changed to First Hawaiian Bank in 1969 The next year in 1970 the bank opened its first branch on Guam in Dededo In 1975 First Hawaiian acquired Hawaii Thrift amp Loan which had been in financial difficulty and turned it into First Hawaiian Creditcorp First Hawaiian Bank acquired many other banks during the 1990s In 1991 First Hawaiian acquired First Interstate Bank of Hawaii Then in 1992 it acquired the East West Bank which had one branch in Honolulu and one on Maui In 1993 the bank acquired Pioneer Federal Savings Bank which continued to operate as a separate institution nbsp First Hawaiian Center in Honolulu In 1996 First Hawaiian acquired 31 branches in Oregon Washington and Idaho from U S Bancorp It then created a new subsidiary Pacific One Bank to hold the branches with a charter in Oregon During the same year First Hawaiian also acquired ANB Financial Corporation which was the owner of American National Bank in central Washington state American National s branches eventually became part of Pacific One Bank At the same time as all of these mergers First Hawaiian built its new headquarters the First Hawaiian Center 7 At 429 ft 131 m it is the tallest building in Hawaiʻi 8 In 1997 First Hawaiian merged in Pioneer Federal and the next year merged in First Hawaiian Creditcorp In the following year 1998 First Hawaiian merged with San Francisco based Bank of the West 9 The surviving company First Hawaiian Inc was renamed BancWest Corporation Former First Hawaiian Inc shareholders owned 55 of BancWest Banque Nationale de Paris BNP former owner of Bank of the West owned 45 In 2001 First Hawaiian Bank acquired Union Bank of California s branch network in Guam and Saipan In December BNP Paribas completed its acquisition of 100 of First Hawaiian Bank and its parent company BancWest Bank of the West and First Hawaiian Bank however continued to operate as separate institutions On December 23 2015 First Hawaiian Bank announced that parent company BNP Paribas was considering strategic options for the subsidiary including an initial public offering 10 On August 4 2016 shares of the company started being sold on the NASDAQ 11 In 2018 Banque Nationale de Paris BNP reduced their stake in First Hawaiian to 33 3 12 and by January 2019 it had sold its remaining stake 13 See also edit nbsp Banks portal BNP Paribas First Hawaiian Bank s previous parent company BancWest Bank of the West First Hawaiian Bank s previous parent company before its acquisition by BNP ParibasReferences edit First Hawaiian Inc 10 K United States Securities and Exchange Commission 2023 02 24 Retrieved 2023 03 29 America s 100 Largest Banks Lombardi Pietro BNP Paribas sells remaining First Hawaiian stake MarketWatch Retrieved 2020 01 28 Hill Tiffany October 9 2008 The Centenarians www honolulumagazine com Retrieved 2018 12 29 a b 150 years First Hawaiian bank the honoluluadvertiser com December 16 2007 Retrieved 2018 12 29 Cecil G Tilton 1927 The History of Banking in Hawaii University of Hawaii Research Publications No 3 Daysog Rick December 5 2001 BancWest deal set to close Dec 20 archives starbulletin com Retrieved 2018 12 29 First Hawaiian Center Honolulu 128723 EMPORIS www emporis com Archived from the original on April 16 2015 Retrieved 2018 12 29 Histoire 4 June 2015 Charles Reed Bishop 1822 1915 a philanthropic banker in Hawaii BNP Paribas Retrieved 2018 12 29 BNP Paribas Considering Strategic Options for First Hawaiian Bank First Hawaiian Bank Retrieved 2020 01 28 Segal Dave 2016 08 04 First Hawaiian stock jumps 5 4 in market debut Honolulu Star Advertiser Retrieved 2018 12 29 BNP Paribas to sell 20m shares in First Hawaiian Bank www ft com Retrieved 2020 01 28 Last Secondary Offering of First Hawaiian Common Stock BNP Paribas BNP Paribas Retrieved 2020 01 28 External links editFirst Hawaiian Bank website Retrieved from https en wikipedia org w index php title First Hawaiian Bank amp oldid 1200467947, wikipedia, wiki, book, books, library,

article

, read, download, free, free download, mp3, video, mp4, 3gp, jpg, jpeg, gif, png, picture, music, song, movie, book, game, games.