BNP Paribas trims stake in First Hawaiian

BNP Paribas’ ownership stake in First Hawaiian Bank has gotten a little smaller.

The French banking giant, which held a secondary stock offering earlier this month, saw its stake in holding company First Hawaiian Inc. dip to 62 percent after underwriters of the offering exercised their option to purchase an additional 3.75 million shares at $32 a share. The transaction closed Friday.

At one time BNP owned 100 percent of the state’s largest bank. But that stake dropped to 64.6 percent Feb. 6 when BNP raised $800 million after selling 25 million shares of holding company First Hawaiian, also at $32 a share.

First Hawaiian, which held its initial public offering in August at $23 a share, saw its stock slip 18 cents, or 0.6 percent, to $32.02 Friday.

UAW helping Tesla plant workers organize

The United Auto Workers has sent organizers to help employees organize Tesla Inc.’s electric-car plant, a move that — if successful — would give the union the presence it’s long sought beyond legacy U.S. automakers’ factories.

A group of Tesla workers has contacted the union to seek assistance organizing, and the UAW is in discussion with them, Dennis Williams, the union’s president, told reporters during a roundtable Thursday in Detroit. He said union organizers have received complaints about long hours and potentially unsafe conditions at Tesla’s plant in Fremont, Calif.

ON THE MOVE

First Hawaiian Bank has announced the following promotions:

>> Darrick J.M. Ching is the new senior vice president and area manager who will oversee retail branch sales, service and operations of the Pearl City and Pearlridge branches. He has 28 years in the financial services/banking industry and served as the bank’s vice president and business banking officer in the main banking center when he first joined the bank in 2013.

>> Paulette L. Franklin is the new senior vice president and business credit officer for the Credit Administration Division. She first joined the bank in 1976 and served in various positions, including teller, note clerk, loan representative, business credit officer and vice president.

>> Tricia K. Fuji- kawa Lee is the new senior vice president, deputy compliance and CRA officer. She manages and administers the bank’s Compliance Management Program. She first joined the bank in 2008 and served as a vice president as well as a corporate compliance officer in the Corporate Compliance Division.

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