Central Pacific Bank beat out two of its larger rivals and was named the best bank in Hawaii on Forbes’ list of Best-In-State Banks 2022.

The state’s fourth-largest bank, with $7.3 billion in assets, finished ahead of Bank of Hawaii and First Hawaiian Bank, which ranked second and third, respectively. First Hawaiian is the state’s largest bank while Bank of Hawaii is second. American Savings Bank, which is the state’s third-largest bank, did not make the list.

Just 2.7% of all banks nationwide made the cut for the best-in-state rankings.

Forbes and Statista identified the best banks in all 50 states based on an independent survey of approximately 26,000 U.S. consumers who were asked to rate banks at which they have or previously have had checking accounts. Participants made recommendations regarding overall satisfaction. They also assessed banks in the following areas: trust, terms and conditions, branch services, digital services, customer service and financial advice.

“We are absolutely thrilled to be recognized as the best in Hawaii on the Forbes list of Best-In-State Banks, as it is further validation CPB is where people like banking,” Central Pacific President and Chief Operating Officer Arnold Martines said in a statement. “We sincerely thank our valued customers for the trust they place in our services. This honor is shared with all of our dedicated employees who truly make a positive difference in people’s lives, beyond banking.”

Central Pacific, which operates 30 branches and 65 ATMs in the state, is the primary subsidiary of holding company Central Pacific Financial Corp. Paul Yonamine is chairman and CEO of the holding company.

The list, which was announced June 21, can be viewed at bit.ly/3nOTT2I.