First Hawaiian Bank
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1858 |
| Founder | Charles Reed Bishop, William A. Aldrich |
| Headquarters | Honolulu , United States |
Area served | Hawaii, Guam, Saipan |
| Products | Consumer and commercial banking, deposit accounts, lending, wealth management, insurance, private banking, trust services |
| Website | www |
First Hawaiian, Inc. operates as a bank holding company with its headquarters located in Honolulu, Hawaii. Its main subsidiary, First Hawaiian Bank, which was established in 1858, holds the distinction of being the oldest and largest financial institution in Hawaii. The bank maintains 57 branches throughout Hawaii along with additional offices in Guam and Saipan. It offers a comprehensive range of services including consumer and commercial banking, deposit accounts, lending solutions, wealth management, insurance products, private banking, and trust services. The company became publicly traded on the NASDAQ stock exchange on August 4, 2016. In Forbes' 2017 ranking of America’s 100 Largest Banks, it secured the 12th position with assets totaling $20 billion. By 2019, BNP Paribas had divested its remaining ownership interest in the firm.
History
The institution was originally established in 1858 by businessmen Charles Reed Bishop and William A. Aldrich under the name Bishop & Co., marking it as the first successful banking entity under the Kingdom of Hawaiʻi’s regulations. Throughout the early 1900s, the bank grew steadily, inaugurating branches in Hilo (1910), Kauaʻi (1911), Kona (1923), and Lānaʻi (1924). Following a series of mergers during the late 1920s and 1930s—including one with First National Bank of Hawaii—the bank underwent several rebrandings.
In 1966, ownership transferred to Cooke Trust Company, which then renamed it First Hawaiian Bank in 1969. Expansion continued with entry into Guam in 1970 and the acquisition of Hawaii Thrift & Loan in 1975, resulting in the creation of First Hawaiian Creditcorp.
The 1990s marked a period of rapid expansion driven by acquisitions: First Interstate Bank of Hawaii in 1991, East West Bank in 1992, Pioneer Federal Savings Bank in 1993, and multiple branches from U.S. Bancorp across Oregon, Washington, and Idaho in 1996. To oversee these out-of-state assets, Pacific One Bank was established. That same year also saw the acquisition of ANB Financial Corporation and the construction of a new corporate headquarters—the First Hawaiian Center—in Honolulu.
Between 1997 and 1998, the bank consolidated its subsidiaries and merged with San Francisco-based Bank of the West. The resulting organization was named BancWest Corporation, with former First Hawaiian shareholders retaining majority ownership while BNP Paribas held a substantial minority interest.
In 2001, First Hawaiian broadened its footprint in Guam and Saipan by acquiring Union Bank of California’s local branches. Later that year, BNP Paribas completed its full acquisition of BancWest but continued to operate First Hawaiian Bank and Bank of the West as separate entities.
On December 23, 2015, BNP Paribas revealed strategic alternatives for First Hawaiian including an initial public offering. Subsequently, the company debuted on the public market on August 4, 2016. BNP Paribas gradually reduced its shareholding and fully exited by January 2019.
See also
- BNP Paribas, former parent company of First Hawaiian Bank
- BancWest (Bank of the West), previous parent prior to BNP Paribas acquisition
External links
- First Hawaiian Bank official website