CRAIG T. KOJIMA / CKOJIMA@STARADVERTISER.COM
Central Pacific Bank CEO John Dean, left, unveils a legacy wall to honor its founders as part of CPB’s 60th anniversary celebration.
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Central Pacific Bank was founded by nisei war veterans 60 years ago.
On Tuesday the bank marked the milestone by unveiling a legacy wall outside its downtown headquarters that memorializes its founders, who included the late U.S. Sen. Daniel Inouye.
With World War II veterans, state government officials and past and present board members in attendance, Central Pacific CEO John Dean and Chairwoman Crystal Rose pulled the draping off the wall, which tells the story of the bank’s humble beginnings. The bank opened Feb. 15, 1954, to serve the Japanese-American community.
The inspiration for the bank came from nisei (second-generation Japanese-Americans) of the 100th Infantry Battalion, 442nd Regimental Combat Team, which included Inouye, and Military Intelligence Service units.
"It’s the legacy that (the bank founders) bestowed on all of us that I believe we need to pass on to future generations," Dean said before a gathering of about 150. "Their vision was to create a bank to provide for the needs of all the people of Hawaii."
Central Pacific was one of two Hawaii banks founded by nisei war veterans in the 1950s to serve the Japanese-American community. City Bank, founded in 1959, was the other. Central Pacific became the sole survivor when it acquired City Bank for $423.1 million in 2004.
The need for those two banks arose because Japanese-managed banks that operated before World War II had been shut down and seized following the bombing of Pearl Harbor, and members of the Japanese-American community said they did not have adequate access to financial resources after the war ended.
