Bankoh joins Youth Savings Program

Bank of Hawaii has been selected by the Federal Deposit Insurance Corp. as one of nine banks across the country to participate in its national Youth Savings Program.

The pilot program identifies approaches to financial education tied to the opening of safe, low-cost savings accounts for students.

Bankoh is partnering with Wai­anae High School and nonprofit Hawaiian Community Assets for 2014-2015 to help 400 10th-graders understand the importance of saving, budgeting and credit. The bank is seeking to expand the program in the near future.

Students will complete the financial education program "Kahua Wai­Wai" (Building a Foundation of Wealth) and then become eligible to open a no-fee, no-minimum balance Kid’s Savings account. Students also will visit the bank’s Wai­anae branch to learn about bank operations.

"The power of this program comes in being able to link financial education with an active savings account and learning the importance of insured deposits and managing money," said Donna Tanoue, Bankoh vice chairwoman and Bank of Hawaii Foundation president.

Hawaiian Community Assets was formed in 2000 and has a community development mission to build capacity for low- to moderate-income families to achieve and sustain economic self-sufficiency.

In-person bank deposits drop off

When it comes to making deposits, consumers have left bank tellers in droves, according to a recent report by Novantas Research.

The percentage of consumers preferring to make deposits with a teller has fallen to 34 percent in 2014 from 54 percent in 2012, partly reflecting investments that banks have made in technology, including improved ATMs and the ability to deposit checks by taking photos of them with smartphones.

But other types of transactions aren’t budging from branches, according to the advisory firm to the financial services industry.

From 2006 to 2011 the percentage of survey respondents who said they preferred to solve a banking problem in a branch fell to 37 percent from 53 percent.

But that percentage has remained almost unchanged in 2012 and 2014 surveys.

The bank branch, in some shape or form, also "remains vital" for banks that want to attract new checking account customers, Novantas said.

Burger King-Tim Hortons deal near

Burger King and Canadian doughnut shop chain Tim Hortons expect to complete their $11 billion tie-up Friday, following a shareholder vote early next week.

Tim Hortons Inc. shareholders are scheduled to cast their ballots Tuesday at a special meeting. The company’s board has unanimously recommended that they vote for the deal.

The companies announced Thursday that the Canadian government approved the deal, which already has the blessing of U.S. regulators.

As part of the agreement signed by Canadian regulators, Burger King agreed to maintain existing employment levels at Tim Hortons franchises across Canada and expand in the U.S. and globally faster than planned.

Hot products have Nintendo on rise

Nintendo Co. looks like it’s finally going to be able to celebrate this Christmas.

The Japanese game maker that lost $193 million last year is on a surprising comeback with hit game titles like "Super Smash Bros." and a new line of interactive figurines called Amiibo. At least eight analysts raised profit estimates or ratings since September, with the two most recent calling for profit to triple to $309 million.

Such results would mark a vindication of sorts for President Satoru Iwata, who stuck with a strategy of selling his games only on Nintendo devices rather than offering them on smartphones and tablet computers. With "Super Smash Bros." and "Mario Kart 8" gaining popularity, the Kyoto-based company projects it will sell 3.6 million Wii U consoles this year and take in $1 billion from Amiibo sales in the U.S. alone.

SHIP AHOY!

Today’s ship arrivals and departures:

HONOLULU HARBOR

KALAELOA BARBERS POINT HARBOR