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- First Hawaiian Bank Business Activity Report Up Almost 6.0 Percent in the Third Quarter
First Hawaiian Bank Business Activity Report Up Almost 6.0 Percent in the Third Quarter
(Honolulu, Hawaii, October 13, 2013) –The third quarter First Hawaiian Bank Business Activity Report (BAR) for Hawaii showed a 5.92 percent increase in “same store sales” over the third quarter of 2012, according to Keith Nagata, senior vice president and Business Services Division Manager. This was the 15th consecutive quarter of overall positive growth.
“Fifteen out of the 16 sectors showed positive growth over 3Q 2012 and the top three industry segments to post the largest gains this quarter were Convenience Stores at 12.88 percent, Insurance at 11.36 percent and Home Furnishings at 9.77 percent,” Nagata said “Convenience stores have posted positive growth every quarter since 2010 and have consistently ranked in the top six. Both Insurance and Home Furnishings posted their highest 3Q increase in 4 years.”
The BAR tracks debit and credit card sales transactions in 16 different economic sectors including automobile, retail, hotels, home improvement, restaurants, shipping and travel, among others.
First Hawaiian is the largest local processor of credit and debit card transactions in Hawaii. In 2012, the bank processed over $4.3 billion worth of customer credit and debit card sales transactions. The bank provides merchant services to nearly 7,000 First Hawaiian Bank merchant locations throughout Hawaii, Guam, CNMI and the U.S. mainland.
First Hawaiian Bank, with assets of $16.6 billion, was founded in 1858 and is Hawaii’s oldest and largest financial institution. The bank processes all major U.S. credit cards as well as JCB, BC Global and China Union Pay.
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