POSTED: 4:19 p.m. HST, Jan 4, 2013
Bank of Hawaii has been named one of the top two banks in the country by Forbes Magazine for the fourth year in a row.
The state’s second-largest bank, with $13 billion in assets in 2012, was named second among the 100 largest U.S.-owned banks and thrifts for the second straight year after heading Forbes’ list in 2010 and 2009. The 2012 rankings were published in Forbes’ Dec. 18 online edition.
First Hawaiian Bank, the state’s largest bank, was ineligible for the list because it is owned by Paris-based BNP Paribas.
“Being named among the top-performing banks for all four years that Forbes has been conducting this ranking is a great testament to our employees and customers,” said Peter Ho, chairman, president and CEO of Bank of Hawaii.
Forbes partnered with SNL Financial to evaluate U.S.-owned banks and thrifts in 2012 based on eight different financial performance measures — return on average equity, net interest margin, nonperforming loans as a percentage of loans, nonperforming assets as a percent of assets, reserves as a percentage of nonperforming loans, two capital ratios (Tier 1 and risk-based), and leverage ratio.
Boston-based State Street, with $204 billion in assets, ranked No. 1, up from 14th the previous year.