BUSINESS BRIEFS
2 banks named top lenders

Advertiser Staff

Bank of Hawaii and Central Pacific Bank have earned top honors as lenders of the year by the Hawai'i district office of the Small Business Administration.

Bank of Hawaii won the top award for Category I lenders, producing 116 loans for more than $12 million. Its performance surpassed its previous record of 104 loans in 1999. Category I includes banks with a commercial loan portfolio exceeding $500 million.

In Category II, Central Pacific Bank delivered 41 loans to small firms for $4.88 million. The bank reclaimed the title from American Savings Bank, last year's winner.

Jobless rate lowest in U.S.

O'ahu, Kaua'i and Lana'i saw increases in their non-seasonally adjusted unemployment rates in September, but the statewide seasonally adjusted rate of 3.1 percent continued to lead the country for the fifth straight month.

O'ahu's unemployment rate rose from 2.8 percent in August to 2.9 percent. Kaua'i was up from 3.8 percent to 4.1 percent; Lana'i up from 2.3 percent to 4.9 percent.

The Big Island's rate fell from 4.9 percent to 4.8 percent. Maui fell from 2.9 percent to 2.6 percent.