Posted on: Tuesday, July 15, 2003

Central Pacific on top 50 list

Advertiser Staff

A journal of the American Bankers Association said the parent company of Central Pacific Bank had the 23rd best return on average equity last year in a survey of 436 banks, thrifts and holding companies.

It was the second year Central Pacific made the ABA Banking Journal list. The bank was the only Hawai'i financial institution ranked on the top 50 list.

Return on equity is one measure of performance, and can be calculated by dividing net income by shareholder's equity, or assets minus liabilities.

Central Pacific's return on equity last year was 20.55 percent, up from 19.34 percent in 2001 and 13.55 percent in 2000. The bank was ranked 25th in 2001, when the ABA survey, which is limited to domestic publicly held institutions with assets over $1 billion, included 100 financial institutions in its list.