[B]HONOLULU, Hawaii[\/B]\u2014Bank of Hawaii Corporation yesterday announced that the company does not plan to participate in the Treasury\u2019s Capital Purchase Program. The program is part of the federal government\u2019s Troubled Assets Relief Program approved by Congress to strengthen the banking system by providing banks with additional capital to increase lending capabilities.<\/p>\n
\u201cAfter careful consideration by management and our Board of Directors, we have decided not to participate in the Capital Purchase Program, \u201csaid Allan R. Landon, Chairman and CEO. \u201cBank of Hawaii has the resource to meet the needs of our customers and support our growth. We believe that Bank of Hawaii is safe, balanced and prepare to face the challenging operating conditions as the economy slows without government investment.<\/p>\n
As of Sept. 30, 2008, the Company\u2019s capital position was \u201cwell capitalized\u201d by all regulatory standards. The company\u2019s Leverage Ratio was 7.27 percent and the Tier 1 Capital Ratio was 11.14 percent.<\/p>\n
As a benefit to customers, the company is voluntarily participating in the FDIC\u2019s fee-based expanded insurance program that provides, without limitation, a guarantee on all of Bank of Hawaii\u2019s transaction accounts through Dec. 31,2009.<\/p>\n
This news release contains \u201cforward-looking statements\u201d such as expectations for our operations and business prospects. Actual results might differ significantly due to a variety of factors. More information about these factors is contained in Bank of Hawaii Corporations\u2019 Annual Report on form10-K for the year ended Dec. 31, 2007. Filed with the U.S. Securities and Exchange Commission. [B][I](BoH)[\/I][\/B]<\/p>\n","protected":false},"excerpt":{"rendered":"
HONOLULU, Hawaii\u2014Bank of Hawaii Corporation yesterday announced that the company does not plan to participate in the Treasury\u2019s Capital Purchase Program. The program is part of the federal government\u2019s Troubled Assets Relief Program approved by Congress to strengthen the banking system by providing banks with additional capital to increase lending capabilities.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-129087","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/129087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=129087"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/129087\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=129087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=129087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=129087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}