NEWS RELEASE

HONOLULU, June 19, 2019 – First Hawaiian Bank (FHB) received a rating of “Outstanding” in its most recent evaluation by the Federal Deposit Insurance Corporation (FDIC) for its performance under the Community Reinvestment Act (CRA) of 1977. This Outstanding rating is the FDIC’s highest performance rating and encompasses FHB’s community development activities during the evaluation period from March 2016 to September 2018. The CRA encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. First Hawaiian Bank was the only Hawaii Bank to receive an Outstanding Rating from the FDIC for nine consecutive evaluation periods, since 1995.

During the recent evaluation period, FHB made loans totaling $975.1 million to support affordable housing projects, non-profit organizations serving low- and moderate-income individuals, economic development, and the revitalization and stabilization of low- and moderate-income areas. The FDIC’s evaluation report noted that FHB “is a leader in making community development loans,” recognized the bank’s excellent level of qualified community development investments and grants to support various community development initiatives, and touted the bank as being a “leader in community development services.”

“First Hawaiian’s commitment to community development has always been a part of who we are as a company,” said Bob Harrison, chairman and chief executive officer. “Our most recent Outstanding CRA rating recognizes the great work of our team members, to ensure that our communities remain vibrant and have access to the funding needed for economic stabilization, while continuing to serve the credit needs of our community.”  

FHB employees are encouraged and supported by the bank in their desire to participate directly in community reinvestment. During the two-year evaluation period, FHB employees volunteered a total of 17,427 hours. In addition to providing financial education, a majority of the hours were dedicated to organizations that provide affordable housing, promote economic development, or benefit low-to moderate-income individuals and neighborhoods.

FHB and its employees invested in the following community development projects through loans and grants during the evaluation period:

• FHB originated a $7 million line of credit for working capital to a local business in the Kapolei Village Center.  The funds support revitalization and stabilization of the Ewa-Central Oahu Enterprise Zone by creating jobs and stimulating business activity in the Honolulu Assessment Area.
• FHB invested $13.7 million in a low-income housing tax credit to help fund the construction of a 210-unit multifamily project that provides low- to moderate-income housing to seniors. 
• FHB made a donation to a foundation that provides assistance to at-risk youth and underprivileged children.  The donation supported community service initiatives serving the needs of low- to moderate-income individuals. 

Examiners used the Interagency Large Institution Examination Procedures to evaluate the bank’s lending, investment, and service CRA performance. FHB earned Outstanding ratings in each of these areas. The assessment areas reviewed included the entire state of Hawaii, Guam, and the Commonwealth of the Northern Mariana Islands (CNMI).  

###