|
|
Article: In Honolulu, Once Bitten, Twice Shy.(National/Global)(Bank of Hawaii Corp.)
- Article from:
- American Banker
- Article date:
- March 17, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Katie Kuehner-Hebert
For Bank of Hawaii Corp., call it a lesson learned.
After surviving an ill-fated expansion spree in the 1990s on the U.S. mainland and in Asia, the $10.8 billion-asset Honolulu company has largely escaped the kind of problems in subprime mortgage and residential construction lending that have afflicted many other institutions.
The coast is not entirely clear for Bank of Hawaii, but its future stands in contrast to that of one of its local competitors, the $5.4 billion-asset Central Pacific Financial Corp., which made bad real estate bets in California.
"It was painful to exit markets before, so having been ...