February 9, 2006

FIRST HAWAIIAN BANK POSTS RECORD FOURTH QUARTER EARNINGS AND FOR ALL OF 2005

(Honolulu, Hawaii, February 9, 2006) – First Hawaiian reported record fourth quarter earnings of $47.1 million, an increase of 28.1% over the year-earlier period, according to an announcement today by Don Horner, President and Chief Executive Officer. For the year, First Hawaiian achieved record net income of $171.9 million, an increase of 19.7%.

“A combination of a strong economy and an exceptional group of employees made this the most profitable year in our history. We had major growth in assets and deposits and solid performance in all of our major lines of business,” said Don Horner, President and Chief Executive Officer of First Hawaiian.

For the 12 months ending December 31, 2005, First Hawaiian achieved the following:

  • Total Assets: reached $11.6 billion at December 31, 2005, an increase of 9.3% over the previous year.
  • Loans and Leases: increased 9.5% to $6.0 billion.
  • Deposits: were $8.6 billion, up 11.9%.

First Hawaiian Bank ($11.6 billion assets) was founded in 1858 and is Hawaii's oldest and largest bank. It has 56 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation (www.bancwestcorp.com), a financial holding company with assets of $66.3 billion.

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