POSTED: 12:57 p.m. HST, Apr 8, 2014
LAST UPDATED: 12:57 p.m. HST, Apr 8, 2014
ABA Banking Journal has named Bank of Hawaii the top-performing bank in the nation for 2013 among the largest public banks and thrifts with total assets of $10 billion or more. It was the third time in six years that Bankoh earned the No. 1 spot.
Bankoh, the state's second-largest bank, was ranked second in 2012. Its previous No. 1 finishes were in 2008 and 2011.
The rankings were published in the April edition of the American Bankers Association's monthly magazine.
"This is wonderful recognition for our employees and testament to the hard work they do every day in helping our customers meet their financial needs," Bankoh Chairman, President and CEO Peter Ho said. "It's also a reflection of our great customers and the community in which we operate. We take pride in our performance and strive to do our best for the people who count on us."
ABA Banking Journal reviewed the performance of federally insured domestic depository institutions with total assets of $10 billion or more as of Dec. 31, 2013, and ranked them by return on average total equity (ROAE). Bank of Hawaii had assets of $14.1 billion and ROAE of 14.78 percent.
The rankings are based on SEC filings for public institutions and regulatory filings for non-public and foreign-owned institutions, and are prepared by Capital Performance Group, Washington, D.C.,
Honolulu-based BancWest Corp., which is the parent company of First Hawaiian Bank and San Francisco-headquartered Bank of the West, finished seventh for the second straight year for private and foreign-owned banks and thrifts with total assets of $10 billion or more. BancWest, which is owned by French banking giant BNP Paribas, had assets of $83.5 billion and ROAE of 5.57 percent in 2013.