San Francisco-based Bank of the Orient will close its Manoa Marketplace branch on Tuesday after deciding not to renew its lease.

"While the bank is very focused and dedicated to the Hawaii market, when analyzing our costs and how to approach the Hawaii community in the most efficient and focused fashion, it felt that closing the branch, which had minimal growth over the past few years, was the best business decision," Michael Delucchi, executive vice president and chief operating officer of Bank of the Orient, said in an email.

Delucchi said the bank will relocate three of its four staff members at the Manoa branch to its remaining Hawaii branch at 765 Bishop St. After the closure, Bank of the Orient will have eight full-time employees. Bank of the Orient closed its other branch at 1016 Maunakea St. in September.

Bank of the Orient opened its first branch in Honolulu in 2000 when it bought the Bank of Honolulu in October of that year after it was seized and shut down by the Federal Deposit Insurance Corp.

Central Pacific Bank said it hopes to open a new branch in Manoa Marketplace in the fourth quarter in the site now occupied by Bank of the Orient.