Updated at 9:56 a.m., Wednesday, February 14, 2007
FHB gets 'outstanding' community investment rating
Advertiser Staff
First Hawaiian Bank received a rating of "outstanding" in its recent evaluation by the Federal Deposit Insurance Corporation for its performance under the Community Reinvestment Act, the bank said today.It was the fifth consecutive evaluation in which First Hawaiian Bank has received an "outstanding" rating. Only 11 percent of U.S. banks evaluated in 2006 by the federal bank regulatory agencies received an "outstanding" rating.
First Hawaiian Bank President and Chief Executive Officer Don Horner said the rating recognizes the bank's record and commitment to meet the credit and financial service needs of the entire community it serves.
"We're proud of our commitment to provide lending opportunities for low- and moderate-income families as well as community development projects that benefit all of Hawaii's people," Horner said. He noted that from January 2003 to June 2006, First Hawaiian Bank made loans totaling more than $987 million to support affordable housing projects, nonprofit 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 also recognized First Hawaiian Bank as the "leading small business lender in Hawaii." The bank was ranked first in Hawai'i in dollar volume of small-business loans. The FDIC noted that the bank makes extensive use of innovative and flexible lending products and practices to serve the state's credit needs and to provide easy access to credit for underserved small businesses, small farms or individuals.
