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First Hawaiian Bank files for IPO

  • STAR-ADVERTISER / JUNE 29, 2012

    The downtown branch of First Hawaiian Bank is seen in this 2012 photo.

First Hawaiian Bank is going public.

The state’s largest bank, filing under the name First Hawaiian Inc., submitted its long-anticipated registration statement for an initial public offering of stock in documentation posted today with the U.S. Securities and Exchange Commission.

In December, First Hawaiian’s parent company, Paris-based BNP Paribas, issued a press release indicating that it was contemplating a sale of First Hawaiian as a way to generate more capital and satisfy a rising regulatory requirement to have a higher ratio to capital to assets.

Since that time, various news reports have indicated that BNP was planning an IPO for the bank, but First Hawaiian and BNP never confirmed that scenario.

First Hawaiian, citing it was in a “quiet period,” declined to comment today.

As of March 31, First Hawaiian had $19.1 billion in assets, $11 billion in gross loans, $16.1 billion in deposits and $2.5 billion of stockholder’s equity. The bank had net income of $65.5 million during the first three months of this year and earned $213.8 million in 2015.

First Hawaiian said in the filing that it planned to be listed on the Nasdaq Global Select Market under the ticker symbol FHB.

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    • Thank Horner and awarding Ansaldo a BILLION dollar Oahu rail contract for that. Someone explain how sending out over a BILLION dollars in Hawaii taxpayer money to a French company is good for Hawaii? There is not Hawaii taxpayer enough money to build any new Hawaii highway projects but there is over a BILLION to sent out of Hawaii for an obsolete train that will easily cost over $100 MILLION in maintenance alone for the train and most of that money will be to foreign or mainland workers and companies since no local employees and companies have ZERO experience in building or maintaining a rail system.

  • This bank has never been the same since Johnny Bellinger left. It used to be a warm family atmosphere company, and that all changed once the new management chose to go the big business route instead of keeping with it’s roots.

  • When former CEO of First Hwn Bnk Horner got Ansaldo the BILLION dollar contract to work on the Oahu train to nowhere project for BNP Paribas (Parribas had stake in Finmecannia that owned Ansaldo at the time), this is one of the rewards that the French company would provide and solidly back up First Hwn Bank to try to make it bigger and more profitable. It was pure shenanigans and the fix was in to award Ansaldo the contract while completely disqualifying Bombardier to bid in the Oahu train project.

    • Good comment. Yea, a real shame. Ansaldo should never been in the running, being bankrupt and all… So, I guess everybody gets paid… by us… 🙁

  • It is going to be a culture shock to the employees. Not management has to answer to stockholder rather than being a rounding error on BNP’s balance sheet.

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