Business briefs

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CB Bancshares to pay dividend

City Bank parent CB Bancshares Inc. today said it would pay a cash dividend of 36 cents per share on Dec. 29 to shareholders as of Dec. 15.

The dividend reflects CB Bancshares' "solid third-quarter performance," said Ronald Migita, president and CEO. The bank, Hawai'i's fifth largest, earned $5.5 million in the past quarter, more than double the amount in the year-ago period.

The 36-cent dividend matches what the bank paid last quarter, when it increased its payout from 12 cents, the bank said.

First Hawaiian 'outstanding'

First Hawaiian Bank earned an "outstanding" rating from the Federal Deposit Insurance Corporation for its performance under the Community Reinvestment Act. The federal law passed in 1977 encourages banks to lend money in low-income neighborhoods.

The FDIC has given First Hawaiian Bank the top ranking in every evaluation since 1995.

This evaluation was for lending in 2001 and 2002.

Tech program gets $250,000

Michael Liu, assistant secretary of Housing and Urban Development, will present a $250,000 check today to the Housing and Community Development Corporation of Hawai'i to create a technology-center program for residents of Kuhio Park Terrace and Kuhio Homes.