Central Pacific Bank names new leader
Advertiser Staff
CPB Inc. today named a new president and chief operating officer for its Central Pacific Bank, Hawai'i's third-largest commercial bank.
Clinton L. Arnoldus, 54, most recently chairman, president and chief executive of Pasadena, Calif.-based Community Bank, was named to succeed Naoaki Shibuya, who has been appointed vice chairman of Central Pacific Bank.
Clinton Arnoldus said he won't make any dramatic changes.
In April, Arnoldus will assume the positions of chairman, president and chief executive officer of CPB Inc., replacing Joichi Saito.
"After conducting an extensive national search for the past year and a half, we are pleased to announce that we have found the ideal leader," said Paul Devens, vice chairman of the bank's search committee.
"Clint Arnoldus brings with him a proven track record in banking leadership and a fresh, new perspective," said Joichi Saito, CPB chairman and chief executive.
In October, CPB Inc. reported its ninth-consecutive quarter of record earnings with a 78 percent increase in third-quarter net income. The bank increased its fourth-quarter dividend by a penny to 18 cents a share.
"The community can be assured that I'm not here to make dramatic changes to CPB's winning formula," said Arnoldus in a statement. "I look forward to building on Central Pacific Bank's strength in customer service and product enhancement in expanding the company's market share," he continued.
Arnoldus has more than 28 years of banking experience. He served as chairman and chief executive officer of First Interstate Bank of Nevada (FIB-Nevada) from 1993 to 1996.
Arnoldus received his bachelor's degree from Brigham Young University in Provo, Utah, and his master's degree from the American Graduate School of International Management- Thunderbird in Glendale, Ariz.
CPB Inc. is a Hawai'i bank holding company with $1.8 billion in assets.
