Our Service
Commitment
We arc coniinitted to delivering superior scrvicc
to our custmiers by consistently exceeding expuctationc arid
providing the “uiiexpected extra” a t every opportunity.
Clhairiiian arid
I) rc s i d c 11 t / Chi e f
M e s s age
Executive 0 ffi c c r 's
Koilald K. Migita, Chairman of the Board, and Cliiit Arnoldus, President a n d Chief Executive CXEccr, Ceiitral
l'acitic Bank and its parent corripany, Central Ricific Fin:uicial Gorp.
Extraordinarily inspiring . . . that i s the bcst way to describe our rmployces arid their coirimitmerit to serving
our customers.'The results of their dcdic-ation a n d loyalty 1i;ivve been treniondous. As cvideiicc, in the fourth
qiiarter of 2OO6, Bank Director magazine ranked LIS No. 17 among the 150 largest U.S. banks aiid thrifts in terms
of profitability, capitalization and asset quality. 'That kind of siicccss c:m only come about when you liavc great
employees who are focused on a n d coriirrijtted to providilig the best for our CLlStotiierS.
Working alongside our ell-iployccs is constantly inspiring. It takes a total team efTort to continue to grow our
business in an extremely competitive market. We are therefore proud to aririourice that in 2006 our total assets
grew by 4.7 percent, including a 5.6 percerit increase in deposits and an 8.3 percent increase i r i loans. Our market
capitalization at year-end grew to $1.2 billion, m d wt' realized a 2 1 .01 percent return on avrrage tangible
shareholders' equity with a 1.50 percent return on average assets.
Our employees have worked hard to achicve this success. After all, firlaricial institutions arc easily broken down into
the products arid services they offer, which arc for the most part quite siniilar. The differentiating bctor is scrvice, arid
that is how Central Pacific has always defined itself, O u r history is one of service. So the emphasis throughout o u r
con-ipany continues t o he a n uncoriipromisiing corrimitl-nent to service at the highest level.
It is most gratifying to have customers conic up to LIS t o say what a great experience they have with Ccntr;il Pacific.
However, what's most irriportant is that they always mention our loan oficers and bankers by name. We do a lot of
customer surveys, but we will never find a greater tileasure of S ~ I C C C S S than having people go out of their way to say
how iriucli they appreciate what individuals at oiir bank are doing for them. It's that kind of mutual cffbrt and
support on the parr of our eiiiployees arid customers that continue to keep our bank moving forward.
Outstariding service is prized within o ~ i r company whether it is o f k e d in the back offices or at our branches,
because both contribute to the overall experience of our customers. Our qiiarterly Service Pride awards arc
presented at a special luncheon with grcat fanfare to recogiiizc eiqloyccs norninatcd by their peers for s;iles arid
service cxcellencc. Central Pacific's best of the best are then honored at our mnual Pinnacle Awards banquet. These
arc ciiergizirig anti uplifting everits that riiotivatc our erriployees to strive for even greater at:coriiplishmel-its.
Our scnior management team meets quarterly to d i s c u s s c'ustorner surveys in depth. It is a time when wc bewriic
extrenicly self-critical.We believe that our bank can never be good enough.We riiean that in a positive way. If we hit
100 percent in custonicr approval ratings, we'll then want 100 perccnt with a n exclaination point! We ;ilways have to
makc it better, because there's nevu a service level that can't be iniproved upon.
1
Any organization can have a checklist fix customer service, such as addressiiig custonicrs by name, and employces can
robotically go through it. But it’s the sincerity arid gen~~ineness of the service that really difrerentiates us, enabling our
custoniers to really fecl it. It’s not a program we’re pushing for this year only. It’s something that C O ~ O S from within -
frorii the attitudes of our eiiiployccs - arid our exceptional performers always have that quality. They’re quite simply
service people, no matter what they t o , cvcn away from their +jobs. Those are the kinds of people we hire. They make
working at our bank filii and exciting, which contributed in large measurc to Central Pacific being named one of the
Best Coiupariics To Work For In I Iawaii according to Hawaii Business magazine.
We arc also very proud to have been named the Srrdl Business Adr~ii~iistratioii’s Txndcr of theyear for Hawaii
Category 11 lerlders. Our Business Banking team has worked hard to achieve this honor for the third consccutive
year. ‘The award is A testament to the services provided by our Worncii’s Business Central, a free rescxmx for
entrepreneurs established iri 2004; oiir Business Banking Approval l ~ e p a r t m c ~ i t ,
a n enhancement irriplcrrierited last
year to expcditc loan applications; arid our Cash Marlagemerit program, which we enhanced this year to improvc
business efliciency.
Our flagship Exceptional Plan contii-lues to introdtice new customers to Central Pacific. Our Business Exceptional
l’lari enables busincss owners to also enjoy the henefits of combining their savings, checking and loan accounts into
(me unibrella account for iiiaxiiiiiim liquidity and earnings. This unique product underscorcs our coiiimitnicnt to
serving the irrirriediate financial rieeds of our customers as well as their future financial growth.
In the area of Wealth Management, Central Pacific’s Trust division coritiriiies to build relationships with both
individual and corporate customers. In 2006, the division cxceeded its goals with a 28 percent increase in its
account base and a nearly 20 percent greater contribution tu the bank’s revenues.Ycar after year, they arc beconiing
a significant part of our business. Similarly, Private I3anking has grown from a start-up five years ago to another
significant contributor to our business. Combincd with the expertise and fiiiancial guidance of our Investment Services
group, our Wealth Management te;m provides service beyond coiripare in thc industry. Their siiccess is built upon
the trust arid loyalty they have estahlishcd over the years with their clients.
In the area of Coiiirncrcial Real Estate, we have further solidified our leadership role in the marketplace using service
as our difh-entiator. We are recognized by developers in Hawaii as the No. 1 team bccause our peoplc have the
expericricc to serve as consultants, are easy to deal with, and can turn things around quickly. They are passionate
about their busincss, arid they add value to a project because of what they bring to tlic table. The S L I C C ~ S S of Island
Pacific Academy in Wcst Oaliu is just one example of the exciting possibilities that can bccorrie reality when we
work together with our partners in the comniunity.
L L
We steypcd forward on this project -
knowing how important education is to
our coimirrnitics - mid to sce thc school’s
Working with He;idiiiastcr Dr. 1 h i i e l White a t i d Director of Fiiiancl- Stuart Hirstein ;it Island Pacific Academy has
been a labor of love for Ryan Harada. The indcpcndent, non-profit, iioii-scctariari collcgo prepxitory school located
in Kapolei on Oahu first opened in 2004 to serve children in pre-kindcrgnrte1-i through grade 7. Central Pacific
provided the finaIicirig - its first relationship involving the cnristruction of a school - arid had its cnrrirrlitnient
rcwartled as cnrollment quickly swelled. Last year, the bank stepped in again to help thc d i o o l fiirid the addition of
its $15 niilliori high school. Today, 550 studerits arc cnrolled a t Island Pacific Academy and its future is promisiiig.
I n Hawaii, C:enrral Pacific’s C:oirinicrcial Kea1 Estate team chalked up 60 project starts in 2006. The miount final-iced
totaled $575 million, a 53 percent increase over the previous yew. Highlights of the team’s work on Oahu in 2001
include two affcxdablc rental prqjccts for the elderly, Piikoi Vista a n d TLisitala Vista, wl-iich added 154 units to a highly
sought aftcr a n d n-iucti-nccded segment of the islarid’s rcrital inveiitory. In adciitiori, the bank fiiiaricod the :icqiiisition
and corivcrsion of several apartment biddings t o cnridorriiniun-is. I.kvclopcrs first o f h c d the condominiunis to
existing tenants, giving then1 an opportunity to own tl-ieir iiriit instead of rcriting.
Ccntral Pacific also c:ontiiiucd its strong presence on the Big Island, Maui and Kauai, providing fiinds for numerous
rcsidcntial coiiirnunities, retail ccritcrs and iridtistrial subdivisioiis. ‘rhe Neighbor Islands I-lave shown steady growth
il-i recent years, and Ccntrril Pxific is proud t o be a Iiaiids-ol-I partner in these coriiniunitizs by incrcasing the
opportunities for home :uid business ownership a n d creating additioi-i:il eiiiployment.
As part of Central I’acific’s diversification strategy, its Coirimerc-i;il llcal Estate-Mainland team coritiriiics to grow
its operations ;is welL’I‘hc division was inivolved in 70 prqjects i t i 2OO6, prini;irily in Californili. Originations totalccl
$625 million, a 26 percent iricrcase ovei- 2005. Chriibined, the Hawaii :uid Mainhicl teaiiis generated $1.2 billion i n
loans, a n d e:ich of its respective portfolios exceeds $1 billion.
( h t r a l Pacific’s success on the Miiiiilarid helps the bank fund iiiiprovcrricnts t o the products and services it offers
Hawaii customers. This soiircc of iilcoriic cns1ires the lmik car1 contintie to serve local customers even if the pace of
I Iawaiii robust cconon-ty shoiild change.
Central I’acific’s Conimcrcial Ked Lstatc teams have used their years of cxprrierice in the industry arid committiieiit
to service excellence to build a solid reputation with develop
Pacific bccausc of its flexibility, quick tiirflaroiifid and the d d i t y of. the (:oiiiiricrcial Kea1 Estate te:inis to structure
finnnc-ing so that every feasible pmjcct is hroiight to market oii t h e a n d 0 1 1 tmdgct. By assessirig mat-ket coiiditioris
arid cnvicioiiiiig how projects will fit into the coiii~iiiinity, ( h i t i - a 1 Pacific’s (hill-iiercial Rcal Estate tcariis are :hie
t o bririg business siicccss a n d the fulfillrricnt of. wtmnuiiity riccds together.
Many developers choose t o work with Central
L L B ~ ~ i n e ~ ~
ventures often take us into
expansive new areas, such as making Hawaii
inore energy independent.”
As a senior lender in a four-bank syndication with three European institutions, Central Pacific is helping to finance
Hawaii’s largest state-of-the-art, cotnnlercial-scale wind farm, Kahrawa Wind Power, which is aimed at making
Hawaii more energy efficient atid less dependent on irnportcd fossil fuels, such as coal and oj1.A~ a Central Pacific
relationship officer, Garrett Grace becomes the quarterback for such projects by fulfilling custonier needs and helping
them reach their objectives. Garrett’s responsibilities can start at settirig up 401 (k) plans to help e~riployees at a
business save for the futurc, and can go as far as coordinating loans and leases that eiiable operations such as Kaheawa
Wind Power to save Maui ratepayers morc than $13.4 tiiillion annually on their electricity bills.
Thc bank’s employees enjoy relationships with a wide variety of businesses throughout the islands. From marine
operators to mushrocmi growers, irrigation systems to bakeries €or dogs, Central Pacific helps Hawaii businesses grow
year after year. Its employees particularly enjoy the opportunity to begin new relationships with customcrs, and this
year the bank welcomed Pornare, better known throughout the islands as Hilo Hattie, to its esteemed client ohana.
Just as the Hilo Hattie brand has becorne synonymous with the islands, Central Pacific hopes the bank will continue
to be synonymous with successful Hawaii businesses.
To this end, Ceritral Pacific has been upgrading the services of its Cash Managemerit team C;oing online with
iBusiriess Central erlables customers t o access their balance information, get detailed transaction reports, and take
advantage of wire services arid the bank’s Positive Pay check fraud prevention feature. Lockbox service has Central
Pacific functioning as the customer’s agent to receive, prc>ccss arid automatically make deposits. Automated Clearing
House is a seciire transfer payyment system used for payroll direct deposit, collectiori of rccurring payments, and tax
and vendor p;iyyments.
This year, Central Pacific became the first commercial financial institution in Hawaii to offer Remote Deposit
Central as a Cash Management tool. Custotners me a scanrier provided by Central Pacific to electronically transfer
their check deposits to their (Ientral Pacific account, which eliminates trips to the bank and additional time away
from their businesses. J3y utilizing Remote Deposit Central and all the other features of Cash Management, business
customers can manage their furids more cft-iciently and utilizc their time arid staff resources more effectively.
Leasing is another area that helps cii~toniers enhance their bottom line. Central Pacific’s Leasing division provides
finaricing for oftice, industrial and construction equipment as well as specialized trucks and executive cars to help
businesses operate at peak cficicncy and optimize their cash flow. In another banner year, the Leasing division was
able to increase its cust(mier base by 15 percent and grow its portfolio by 11 percent.
In 2007, Central Pacific’s banking teams and executive ofliccrs will be meeting with more customers in regularly
scheduled visits. Learrlirig how custotncrs’ riceds change as the state economy changes will help the bank maintain
its high scrvice level. Central Pacific is just beginning to capitalize on the synergies it has built internally between
its divisions, arid customers arc surc to see the benefits throughout the corning year.
l e worked with DK on his personal
business accounts for years, and he’s
savvy, dow 11- to - earth b mi ness m a n
whom I really adinire.”
Whcn award-winning chef and restaurateur DK Kodama turned to Central Pacific’s Kyle Sakamoto o n Maui for
financing to renovate his restaurants, Kyle was happy to offer DK a full menu of financial solutions. When DK
subsequently decided to open two more restaurants in Waikiki, he again turned to Central Pacific for help. UK is onc
of Hawaii’s most compelling success stories. His crcativity, natural business instincts and passion have built a succcssfd
chain of seven restaurants - and counting.
Like DK Kodama, who is no stranger to hard work and long hours on the job, Hawaii’s small business entrepreneurs
are all hoping to experience the sweet taste of success.They remain at the heart of our state econorny - providing
the islands with goods and services, employing rnany residents, and driving the state’s current and future growth.
Central Pacific is a dynamic contributor to that growth, serving the needs of- srnall businesses whethcr they are brand
new start-ups or expansions by scaoned pros.
In fact, in 2006, Central Pacific was named the Small Business Administration’s Lender of theyear for Hawaii
Category I1 lenders. This is the third consecutive year that the bank w a s recognized for this honor. The credit goes
to Central Pacific’s sinal1 business banking specialists who go the extra rriilc to assist novice entrepreneurs in turning
their business plans into reality. The bank also encourages leaders among small business, and this past year, Central
Pacific had nine of its norriinees recognized as Srriall Business Champions.
Many Hawaii businesses took advantage of the bank’s launch of its new Business Exceptional Plan. Like its consurrier
counterpart, Business Exceptional enables business owners to corrbine their Central Pacific accounts for greatcr
liquidity and higher interest earnings. The account also featurcs a list of cost-saving benefits, toppcd by frce
nationwide ATM access for business people who do a lot of traveling. Additional benefits include an array of free
bank products and services as well as discount offers.
Worneri still make up the largest segment of the sniall business community, arid Central Pacific continues to adjust
thc offerings of its Wornen’s Business Central to fit their needs. An exclusive bank prograrri, Wornen’s Business
Central sponsors seminars, holds networking opportunities and provides inentors to put new busiricss owricrs on the
fast track to success. As this program matures and owners become niorc sophisticated in operating their businesses,
Central Pacific will be looking at additional ways to provide meaningful assistance to this group of entreprencurs.
Central Pacific’s latest innovative concept to serve businesses better is the Financial Center, the first of which opened
in Kahului it1 October. The center brings togcther Central Pacific’s professional services under one roof for greatcr
customer convenience.
“Harry Matsuki and his family
inspire me to go the extra iiiile and
wow’ every siiiglc customer.”
L
Ninety-two-year-old Harry Matsuki, a 442nd Regimental Combat Team veteran, has been banking with Central
Pacific Bank for 48 years. He and Charlotte H i p at the bank’s Kainluki Branch have known cach other for 20 of
thosc years. Since he lives close to the branch, Charlotte often visits Mr. Matsuki at his home. Each time, he shakes
Charlotte’s hand arid thanks hcr for the great service he arid his family receive from Central Pacific.
Offering products that help customers achieve their personal goals is a major part of the servicc Central Pacific
provides. Five checking accounts fit every customer’s needs, from the popular Totally Free Checking to the bank’s
Interest Checking to Checking Five-0 for pcaplr who are 50 years old or better. Gold Checking is a value-added
account unveiled this past year, offering no minimum balance, u r h i i t e d check writing, daily compounded interest,
free checks arid identity theft protection, free online bankitlg plus shopping, travel ;ind entertainment discounts.
Central Pacific’s flagship Exceptional Plan is always a winner. Allowing customers to combine their deposit and loan
accounts provides greater liquidity with higher earnings and an impressive list of valuable benefits. With reimbursed
ATM surcharge fres nationwide, free checks and traveler’s checks, frce notary servicc, plus identity theft and payment
card protection and discount offers, the Exceptional Plan saves customers inore while providing greater convenience.
This year the bank also increased the convenience o f its onliric hanking service with the latest technology upgrades.
Central Pacific custoiners can use online banking day or riight to download thcir account activity, view check
images, re-order checks and pay bills - all without leaving their home or even picking up the phone! And all
transactions are coinpleted quickly arid securely.
Central Pacific will continue to integrate high-tech innovatioils into its operations while also remaining comrrlitted
to high touch through its branches and people. The bank maintains a Call Ccnter fully staffed by service-oriented
employees who help custoniers with questioiis on their accounts or any of Central Pacific’s prodticts arid services.
Although high tech has its place, custorriers still appreciate having a friendly bank representative provide them with
truly personalized assistance.
At the branches, cniployees look forward to putting a “WOW” into serving every customer.This year Central Pacific
tested a pilot program called “Create Magic” at five of its branches.The staff was commissioned with rriaking visits
more memorable for custorncrs - like having coloring sheets for childreri waiting for their parents to do their
banking, or offering senior citizens a cool drink on a hot day. When “Create Magic” was announced, every brarich
waritcd to be part of it. In 2007, all employees will get their chance when the program rolls out systemwide to
demonstrate Central Pacific’s appreciation for its customers.
The rriagic of the bank’s network wjll soon have a wider reach with the opening of new branches in Pearl City,
Oahu and Lahaina, Maui. And LO add to customer convenience, Central Pacific also plans to expand its ATM
network with more locations during the coining year.
6 6
It is rewarding when our clients
return for repeat business whether it is
to finance the purchase of a larger home
or an investment property.”
w r ~ i ) ~
P A N G
S ~ l
l I i ~ l
I 1 1 1 I’ll \ I d 1 F l f - l ’ l c l / c c t 1 ~ l l l / l l l ~ ,
~ ~ l ~ ~ l i ~ i l l
l ’ i U I / I i IIi~llllLll~ltl~
Sheree and Andrew Stewart wercn’t just looking for a new residence, they wcre looking for a home that would
accommodate their busy lifestyles as attorneys and be pet friendly, too.They found the perfect setting in late
Noveniber at Ko‘olani condominium in Honolulu and called upon Wendy Parig at Central Pacific HomcLoans to
help them with the financing. Wendy had first helped the Stewarts four years ago as first-time honiebuyers. Wendy
not only matched them up with the perfect mortgage product, she expedited processing of the paperwork s o the
Stewarts could move into their new home by mid-December - in plenty of time for the holidays!
One full year after acquiring Hawaii HorrieLoans, Central Pacific has successfully grown its marketshare arid
gcnerated higher loan volume by funding new honies for customers or refinancing their current hollies.
Most importantly, Central Pacific HorrieLoaiis was able to achicve this with a 90 perccnt or better custonicr
satisfaction rating in t e r m of loan approval rates and responding to customers in a tiniely manner.
Central Pacific HomeLoans continues to expand its offerings to the bank’s customers with an experiericcd staff
that stays up to date with the wide range of products available in today’s niarket.They know about the latest
conventional and adjustable rate loans, first-tirnc buyer and interest-only loans, Hula Mae arid FHA loans, and
everything in between.
Central Pacific HomeLoans is managed by people with a long history in the business - more longevity than any
management team in Hawaii’s mortgage market. With this kind of track record, the conipany is able to cultivate a
level of expertisc and service that can place large numbers of the islands’ people into the horrics of their dreains.
To increase this ability of providing customers with the best in products and services, Central l’acific HorneLoans
opericd four additional joint venture mortgage brokerage corripanies during 2006, which now brings this total to six.
By joining forces with local horriebuilders aiid real estate corripanics in this way, Central Pacific HomeLoans was
able to fund more than $825 million in mortgages in 2006 even as tlie iiiarkct slowed. The company also serviced
n o r e than $1 billion for other lenders, including Farinie Mac and Freddie Mac.
However, the most important goal continues to be putting people into homes. In 2005, Central Pacific HonieLoans
launched its successful Home Possible seminar, geared for first-time homebuyers looking for affordable homes. Thc
program crnphasizes the company’s ability to help prospective buyers in virtually all circunistanccs, inaking
homeownership a truly possible dream.Those who may not qualify for a rriortgagc loan today are placed into
programs that will eriablc them to qualify down the road.
“Service is ;I frame of mind,
k and spirit, arid we strive to help
stomers like Jason as we would
own parents, fiiinily a i d fiiieiids.”
-
is cine of thrce partners behind TalkStory l’roductioiis, the first local
Entrepreneur arid irivcstor Jason L ~ u
indeperiderit film company to pursue funding for mainstream theatrical releases. Keith Masuda and Central Pacific
are cxcitcd to be behind-the-scenes players, hoping to bring about many h;ippy endings. In doing its part t o geiicrate
riiore intcrest in Hawaii’s film industry and promoting the islands through ‘KdkStory’s releases, the bark also gained
the privilege of servicing Jason’s personal financial portfolio as well as thc production company’s ii’lvcstinent funds.
Central Pacific’s Wealth Management tea111 works diligeritly to earn the trust arid respect of its customers. Thc team
realizes the fiirids they deal with frequently represent years of personal effbrt and rrieticulous financial rimiagement.
They often also represent the legacy of previous gcneratioiis as well as the prtlinise that the future holds. The team
custorriizes its pruducts and services to hclp custoiiiers achieve thcir goals.
Central Pacific’s Trust division has been providing educatjori oii the value of placing assets into trust accounts arid
developing successiori plaiis to protect arid preserve financial legacies. New personal trusts, institutional custody
accounts and btlsiness cash sweep accoiiiits helped the divisiori cxcecd its goals in 2006 with assets growing 13.7
perccnt to $2.24 billion. Working with the bank’s branch stafi, biisiriess bankers, rid representatives from its leasing
aiid cash rrianagcrnent operatioiis has helped Central Pacific’s Trust specialists share their expertise with more of
Central Pacific’s custoincrs.
Partners are a n essential part of the bank’s success, I n inid-2004, Central Pacific entered into a strategic alliarice
with Affinity Iiivestrneiit Advisors, LLC to niariage custoiners’ large cap core portfolios. Nationally raiiked sub-
advisors will continue to be added to brcladen the bank’s money rnanagetiient capabilities.
T h e Investment Services division also achieved another year of- solid growth. In-tiouse experts iitilizc a broad raiige
of products to diversify custoiricr portfolios. They also call upon tlie adv;mced plaiiiiing capabilities of Ll’L Finailcia1
Services, America’s leading independent brokerage firm, to provide the bank’s custor-iiers with sourid irivestnient
advice. By weighing risk tolerance arid customers’ short and long-term goals with expcrienced advice arid consistent
high-performing investments, Central Pacific remains focused on creating a better a n d worry-firc fiiture for our
custorncrs.
During the past year, Central Pacific’s Private Banking grew total assets to nearly $200 million, which il-icluded a
110 perceiit increase in deposits and a 45h percent increase in i t s loan portfolio. What sets Ccntral Pacific apart in
this area once again is the time the staff takes to really get to know its customers s o needs are ;inticipated and there
is complete assurance that trarisactioris arc complcted with efkiency and attcntion to detail.
Ckntral Pacific has established a tradition of going beyond the service it providcs to customers each day by reaching
out into the cornrnunity with its corporate giving efforts. The hank’s philanthropy benefits people with different
needs on every island in every age bracket, s o to have the Outstanding Corporation Award preserited to Central
Pacific hy the Aloha Chapter of the Association of Fundraising Professionals was especially rrleaningful to the bank
and its employees.
More than 350 noli-profit organizations are helped each year through Central Pacific’s statewidc community-giving
efforts. A few of the recipicnts in 2006 included: Hawaii Island Economic 13evelopnient Board, Hilo Medical Center
Foundation, U H Foundation-Tmiloa Astronorny Ccnter of Hawaii as wcll as the American Cancer Society’s Taste of
T3ig Island and Innovations Public Charter School Foundation in Rona on the Big Island; J. Walter Carrieron Center,
the Maui Adult Care Center, Maui Economic Development Board and tlic Maui Memorial Medical Centcr
Foundation Inc. or1 tlicvalley 1sle;ARC of Kauai, Kauai Hospice Inc. and Kauai United Way on tlic Garden Isle;
arid C;oodwill Industries of Hawaii Inc., Hawaii Meals on Wheels, Pacific Gateway Center, Public Schools of Hawaii
Foundation,W;iianac Coast Corriprehensivc Health Ccriter arid Waikiki Health Center on Chhu.
In 2006, Central Pacific once again niadc its branch network available for thc annual Lokahi Chirig l’roject.
Branchcs collected donations of funds arid gifts that would be presented to less fortunatc firnilies i n Hawaii during
the holidays. Angie Higa and her teaiii, along with many bank employees, get personally involved with the project
each year by adopting deserving farriilies and adding their own coiitribu tions to the drive. This year the bank raiscd
over $183,000, thanks to the generosity of our crriployees and customers.
Another example of Central Pacific’s community involvemel-it is its title sponsorship of the “Ked Cross True Blue
Heroes” program. Teal-ning with tlie Arricrican Red Cross - Hawaii Chapter, the bank recognizes individuals in the
community for their kind arld heroic acts to hclp others. Nominations are solicited throughout the year from the
corrirnunity, and winners are recognized during a reiriote broadcast of KSSK’s Perry arld Price Saturday morning
breakfast radio show at John nominis restaurant.
The bank is also proud of its 12-year afriliatiori with Perry and Price, who use their No. 1 rated weekhy l-riornirig
show to enlist civic-minded listeners in a n irnprorriptu “posse” to put a stop to crirrie as it happens. Whenever a
perpetrator is caught, Central Pacific donates $1,000 to its C.A.T.C.H. (Citizens Against Troublemakers arld C:rirninals
in Hawaii) Fund. This year, $5,000 grants from the furid were presented to Kokua Kalihi Valley h r a coiiiiiiunity
gardening pavilion in Kalihi Valley Nature Park and to Chholic Chritics to build a much-needed children’s
playground at a tiorlieless shelter on the Big Island.
Bank representatives and ciistonicrs also
got into the spirit of giving, teeing it up
in 2006 for a couplc of charity golf
tournaments. O n theValley Isle, tlie 1Xth
Annual Central Pacific Hank Maui Arts &
Cultural Center Beiiefit Golf Tournament
raised $37,000 for thc Center, which is a
focal point for major events on Maui. This
year’s tournament brought the bank’s total
contributions to the Center to iriore than
$410,000. Noxt year, the tournament will
be rcnarricd aftcr Pundy Yokouchi, one of
Central Pacific’s senior advisors from the
island of Maui w h o passed away in 2006.
On Oahu, the 29th Annual Central Pacific
Bank Charity Golf Tournament raised
niorc than $40,500, which will be used for
capital irriprovuriicnts to Shriricrs Hospitals
for Children - Honolulu.
“DoiiAtiiig blood is a small way I can
make a big difference in someoiie’s life -
just imagine, sonleone’s life!”
Pearl Mori aiid Alex Battad are two more examples of the spirit of aloha that exists within the ranks of Central
Pacific’s wonderful employees. I h t h Pearl arid Alex were recognized as Supcr Donors at last ycar’s Blood Bank of
Hawaii annual donor luncheon. Pearl, who has donated blocid for 30 years, has 129 pints to her credit. Alex has given
125 pints since 1968. These two employees know that 60 percent of Hawaii’s population will need blood during
their liGtirric, and they are happy to help in this very valuable way.
Central Pacific is proud of the way the bank’s erriployees respond to the needs of others. Employees at each branch
often take the initiative to participate in evcnts within their communities. An example is the Waikiki Branch, which
joined thc Waikiki Ohana Workforce of the Waikiki Improvement Association to clean up the beach. O n the Big
Island, the bank’s Hilo Branch proved big hearts exist in srriall towns. Eiiiployees threw 110 percent of their best
efforts intc) participating in their island’s Food Drive to fight hunger. Their enthusiasm resulted in the collection of
480 pornids of food, which contributed to the bulk of the Food Drive’s total collections of 552 pounds.
The bank’s conmiitrrient to the March of Dimes would not be successful each year without the support of our
erriployees. Thc therrie this past year was “Walk for Someone Yoti Love,” arid Central Pacific set a fundraising goal
of $65,000 to help prevent premature births and birth defects. With 76 teams participating, the bank well exceeded
its goal by raising rriorc than $93,000 and walked away as the top fundraising team in Hawaii. Central Pacific also
turned out the largest teams with 350 employees, family rricinbers and friends participating on Oahu and 420
walkers statewide.
Making sure C‘enti-Jl I’acitk I \ wcll
represeticed at culcui-a1 Cesrivdc througli-
(.)ut rhc state I C mothei- way baik
employees Ict their CorporJtr pridc ihlnc.
Diiring the )‘e.u, their prescnie d t the
Filipino. Kureati aiid O k i n ; n v x i fcscivah
was 3 credit IO the b.irik. Foi- the rndivi-
duals involved, the t‘e5tivdls prcsented
:in opporrunity t o riot just celebrarc
their ~ M ’ I I cirlrure but d s u t o Irmi abour
arid enjoy the color a i i d custom\ of
other cchnic groups that havc m;idr
their i r q w t o i l l i k in H~\vait.
Our islands are also wcll served by the hours arid efforts Central Pacific erriployees devote to favorite organizations
in their home communities. Once the workday is over, rriany of them head for Little League Baseball, AYSO Soccer
or Pop Warner Football practices. Thcy serve on parcnt-teacher boards, lead scout troops, volunteer fcjr nonprofit
organizations and help organize church activities. Corririiuriity involveiiient is also irriportant to senior management
who frequently serve as ofticers, board members or financial advisors for civic organizations.
One iiiissiori has united Pearl, Alex and all the eriiployces of Ceritral hcific in 2006, and that is being rccognized
as the nest Cnrrirriunity Bank Serving Hawaii. lnspired by Ccritral Pacific’s legacy of service, the bank’s el-riployecs
are continuing to build long and trusted relationships in the comrritinity. These persorial stories of corririiiiriity
volunteerism arc just a handful arnong many at a bank that earned honors as one of the Hest Companies To Work
For In Hawaii. Being corrirnitted to each Other, to custorncrs and the coirirriunity is what keeps Central Pacific
employees reaching beyond today to bring quality to each and every relationship.
C: or p ora t e L3 i rc c t ory
AS OF DECEMBER 3 1 , 2006
Board of Directors
Clint Arnoldus
President & Chiet FxeCUtlVc Offlcer
Central Paufic Fiwencial Cnrp.
Richard J. Blangiardi
Senior Vice Presideiil &
General Manager
Finniis Cummunications C w
Christine H. H. Camp Friedman
Priricipal & Managing Director
Avalon Oeveloprnent Cornpany, L LC
Earl E. Fry
Executive Vice President,
Chiet Financial Officer and Secretary
lnformatica Corporation
Dennis I. Hirota, Ph.D.
President
Sam 0. Hirota, Inc
Clayton K. Honbo, M.D.
Rctired
Paul J. Kosasa
President & Chief ExeCUtiVO Officer
MNS Ltd dba ARC Stores
Duane K. Kurisu
Chairman of the Board
& Chief Executive Officer
aio group, Partner, Kurisu R Fergus
Colbert M. Matsumoto
Chairman & Chiet Fxecutive Officer
Island IiiSurancc Company, Ltd.
Ronald K. Migita
Chairman ot the Board
Ccriiral Pacific Finanr:ial Gorp
Crystal K. Rose, J.D.
Panner
Bays Deaver L.ung Rose & Holm3
Mike K. Sayama, Ph.D.
Vicc President, Customer Relations
Hawaii Medir:al Service Association
Maurice H. Yamasato
President
Yainasato, Fuliwara, Higa &
Associales, lnc.
Dwight L. Yoshimura
Senior Vice President
& Seriinr General Manayer
GGP Liinited Partnership
Executive Managei-nent
Clint Arnoldus
President & Chlef Executive Mficer
Dean K. Hirata
Vice Chairman &
Chief Financial Officer
Blenn A. Fujirnoto
Vice Chairman. Hawaii Market
Advisors
Senior
Neighbor Islands
Island of Kauai
Joichi Saito, Chairman Emeritus
Yoshiharu Satoh, Chairman Emeritus
Paul Owens
Alice F. Guild
Daniel K. Inouye, US. Senator
Eaton Magoon, Jr.
Minoru Ueda
Harold K. Yamanaka
Lester B.K. Yee. M.O.
Island of Hawaii (Hilo)
Tsuneo Akiyama
Roland Higashi
Thomas Hirano
James T. Larnbeth. M.D
Rex Matsuno
Ernest A. Sakamoto
Lindbergh Akita
Dennis M. Esaki
Richard Maeda
Carolyn A. Nit, C.P.A.
Frank Nonaka
Allan A. Smith
Roy Tanaka
Dennis R. Yamada, Esq.
Island of Hawaii (Kailua-Kona)
Island of Maui
James W. Higgins
Wally K. lchishita
William Kimi, Jr.
Jean A. Murphy, GRI. ClPS
Hilario A. Aquilizan, M.D.
Hitoshi Hirayama
Lawrence N. C . Ing, Esq.
Howard Miyamoto, I3.D.S
Maria A. Unemori. C.P.A.
Firmicia1 Highlights
CENTRAL PACIHC FINANCIAL CDRP AND SllBSlDlAHlFS
(Dollars in thousands, except per share data)
~ - ~
~
~-
~
.~
2006
2005
Change
~
~~~
$
$
$79,180
2.60
2 57
0.88
5,487,192
3,844,483
3,793,724
738,139
24.04
38.76
3051 1
$
$
~
72,459
2.42
2.38
0.73
5,239,139
3,642,244
3,499,813
676,234
22 22
35 92
29,956
1.50%
11.16
21.01
49 67
~
1.48%
11.16
22 88
49.59
9.3%
7.4
8.0
20.5
4.7%
5.6
8.4
9.2
8.2
7.9
1.9
.-
-
For thP fiur
Net Income
Basic Earnings Per Share
Diluted Earnings Per Share
Cash Dividends Declared Per Share
-
At Dtwn~bev .j 1
Assets
Deposits
Net Loans and Leases
Shareholders’ Equity
Book Value Per Share
Market Value Per Share
Average
-
-
Number of Shares Outstanding
. -
binuncial Ratio,
Return on Average Assets
Return on Average Equity
Return on Average Tangible Equity
Efficiency Ratio
~.
Return 011 Average ‘higible Equity
02
03
04
05
06
Diluted Earnings Per Share
02
03
04
05
06
E f i c i m c y Ratio
02
03
04
05
06
21 01%
$2 JU
912 57
67 77%
4R ti7%
Refer to tho Company’s Annual Report on Forr IO-K for the fiscal year ended December 31, 2006 for the
Consolidated Financial Statements. including Report of Independent Registered Public Accounting Firm thereori
C o 11s oli d 3 t t'd F i I I a 11 cia1 Hi ghli gh t s
CENTRAL PACIFIC FINANCIAL CORP AND SUBSIDIARIES
The selected consolidated financial highlights set forth with respect to Central Pacific Financial Corp.'s consolidated statements of
income and consolidated balance sheets are derived from consolidated financial statements not presented herein.
(Dollars in thousands, except per share data)
2006
2005
2002
__ ------ --
2003
2004
~
$
Stattwcwt oj' l n c o r ~ ~ Data
Total interest income
Total interest expense
Net interest income
Provision for loan and lease losses
Net interest income after provlslon for loan losses
Other operating income
Other operating expense
Income before income taxes
Income taxes
Net income (1)
320,381
109,532
210,849
1,350
209,499
43,156
132,163
120,492
41,312
79.180
Balunct, S h w t Data (Yt-ar-twd)
Interest-bearing deposits in other banks
Investment securities (2)
Loans
Allowance for loan and lease losses
Goodwill
Core deposit premium
Total assets
Core deposits (3)
Total deposits
Long-term debt
Total shareholders' equity
-
$
5,933
898,358
3,846,004
52,280
297,883
31,898
5,487,192
2,860,926
3,844,483
740,189
738,139
. ~.
$
$
150,389
30,217
120,172
2,083
1 18,089
22,018
86,131
53,976
16,582
37,394
$ 110,231
20,178
90,053
700
89,353
15,834
55,578
49,609
15,669
33,940
52,978
850,821
3,099,830
50,703
284,712
49,188
4,651,902
2,716,973
3,327,026
587,380
567,862
$
5,145
540,785
1,443,154
24,774
-
-
2,170,268
1,419,100
1,753,284
184,184
194,599
$ 118,462
29,483
88,979
1,000
87,979
15,282
55,023
48,238
14,955
33,283
$
39,358
527,512
1,289,892
24,197
L
I
2,028,163
1,280,471
1,641,101
147,155
173,443
$ 263,250
66,577
196,673
3,917
192,756
41,002
124,772
108,986
36,527
72,459
9,813
925,285
3,552,749
52,936
303,358
35,795
5,239,139
2,814,435
3,642,244
749,258
676,234
$
$
Per S h m n a t a (4)
Basic earnings per share
Diluted earnings per share
Cash dividends declared
Book value
Weighted average shares outstanding (in thousands)
$
2.60
2.57
0.88
24.04
30,511
~
2.42
2.38
0.73
22.22
29,956
$
$
1.90
1.87
0.64
20.17
19,637
$
2.12
2.07
0.64
12.11
16,027
2.09
2.04
0.40
10.86
15,931
Finanrid Ratios
Return on average assets
Return on average shareholders' equity
Return on average tangible equity
Efficiency ratio (5)
Net interest margin (6)
Net charge-offs to average loans
Nonpettorming assets to year-end loans
and other real estate (7)
Allowance for loan losses to year-end loans
Allowance for loan losses to nonaccrual loans
Dividend payout ratio
1.50%
11.16%
21.01 %
49.67%
4.55%
0.05%
0.23%
1.36%
583.61 %
33.85%
_
.
~ .
1.48%
11.16%
22.88%
49.59%
4.63%
0.05%
0.35%
1.49%
421.77%
30.17%
_
1.25%
12.37%
18.45%
57.77%
4.51 %
0.06%
0.35%
1.64%
492.79%
33.68%
1.64%
18.33%
18.33%
51.94%
4.79%
0.01 %
0.25%
1.72%
688.74%
30.19%
1.74%
20.55%
20.55%
52.17%
5.11%
0.04%
0.18%
1.88%
5,511 1.85%
19.14%
( 1 ) Net iiicome for 2006 includes the recognition of share-based cornpensatton under the provisions of SFAS 123 (R), "Share Based Payment."
(2) Held-to-maturity SBCUritiBS at amortized cost, available-for-sale securities at fair value.
(3) Noninterest-bearing demand, interest-bearing demand and savings deposits, and time deposits under $1oO,ooO.
(4) Restated to reflect a two-for-one stock split eff8cied November 8. 2002.
(5) Efficiency ratio IS derived by dividing other operating expense excluding amortization of intangible assets by net operating revenue
(nel interest income on a taxable eqiiivalent basis plus other operating income before securities transactions).
(6) Computed on a taxable equivalent bass using an assumed income tax rate of 35%.
(7) Nonpetforming assets include nonaccrud loans and other real estate.
Refer to the Company's Annual Report on Form 10°K for the fiscal year ended December 31, 2M)6 for the
Consolidated Financial Statements. including Report of Independent RegiStered Public Accounting Firm thereon.
t
C o iisolida t t" d l3 ala 11 c e S h c c ts
CENTHAL PACIFIC FINANCIAL COUP AND SUBSlUlARlES - LJECEMBEH 3 1 , 200G 8 2 0 0 5
(Dollars in thousands)
Assets
Cash and due from banks
Interest-bearing deposits in other banks
Investment securities:
Held to maturity, at amortized cost (fair value of $64,249 at
December 31, 2006 and $70,651 at December 31, 2005)
Available for sale, at fair value
Total investment securities
Loans held for sale
Loans and leases
Less allowance for loan and lease losses
Net loans and leases
Premises and equipment
Accrued interest receivable
Investment in unconsolidated subsidiaries
Due from customers on acceptances
Goodwill
Gore deposit premium
Modgage servicing rights
Bank-owned life insurance
Federal Horne Loan Bank stock
Other assets
Total assets
Lididitits a r i d thliurc.lro/d~vs ' Equity
Deposits:
Noninterest-bearing demand
Interest-bearing demand
Savings arid money market
Time
Total deposits
Short-term borrowings
Long-term debt
Bank acceptances outstanding
Minority interest
Other liabilities
Total liabilities
Shareholders' equity:
Preferred stock, no par value, authorized 1,000,000 shares, none issired
Common stock, no par value, authorized 100.000.0OO shares,
issued and outstanding 30,709,389 shares at December 31, 2006
and 30,436,862 shares at December 31, 2005
Surplus
Retained earnings
Deferred stock awards
Accurnulated other comprehensive loss
Total shareholders' equity
Total liabilities and shareholders' equity
Refer to the Company's Annual Report or1 Furrri 10 K for ltic fiscal year ended Deceniher 31, 2006 for the
Cnrisolidcried Financial Statements. including Report of Independent Rcgistcrcd Putilic Awuiinliiiy Firm Ilweoll.
('CI1t1..11
l).lCIf\C
1111.1111 ,,/I ( ' { V , , 211110
24
~
$
2006
2005
129,715
5.933
$
154,927
9,813
65,204
833,154
- -
-
898,358
..
26,669
3,846,004
52,280
-
3,793,724
77,341
26,269
12,957
453
297,883
31,898
11,640
102,394
48,797
23,161
-
71,843
853,442
~
925,205
60,538
3,552,749
52,936
3,499,813
72,568
22,006
12,417
530
303,358
35,795
11,820
68,325
48,797
13,147
-.
$
5,487,192
$
5,239,139
$
~.
$
661,027
438,943
1,205,271
1,539,242
3,844,483
79,308
740,189
453
13,130
71,490
730,952
442,879
1,091,057
1,377,356
3,642,244
82,734
749,258
530
13,157
74,982
.~
4,749,053
4,562,905
430,904
51,756
270,624
I
(1 5,145)
738,139
428,012
46,432
218,341
(612)
(1 5,939)
676,234
$
5,487,192
$
5,239,139
C: on soli 11 ;it c' d Stat eiiieii ts of I iic oiiit'
CENTRAL PACIFIC FINANCIAL CORP AND S U U S l D l A R l t S - YEAHS ENDED DECEMBER 31 2000 2005 R 2004
(Dollars in thousands, except per share data)
1nttro.sf I~K(JWW
Interest and fees on loans
Interest and dividends on investment securities:
Taxable interest
Tax-exempt interest
Dividends
Interest on deposits in other banks
Interest on Federal funds sold and securities purchased
under agreements to resell
Dividends on Federal Home Loan Bank stock
~
$
2006
~
.-
~ - - ~-
2005
2004
279,246
$
222,841
$
120,684
34,775
5,080
538
550
34,058
5,281
278
349
143
49
171
272
~- ~
24,181
4,466
203
289
90
476
Total interest income
61 tcrest Fxpcnse
Interest on deposits:
Demand
Savings and money market
Time
Interest on short-term borrowings
Interest on long-term debt
Total interest expense
Net interest income
Provision for loan and lease losses
Net interest income after provision for loan and lease losses
Otlw Operutirv Iwornt
Income from fiduciary activities
Service charges on deposit accounts
Other service charges and fees
Equity in earnings of unconsolidated subsidiaries
Fees on foreign exchange
Loan placement fees
Gains on sales of loans
Investment securities gains (losses)
Income from bank-owned life insurance
Other
Total other operating income
O l h i v Optrating Expense
Salaries and employee benefits
Net occupancy
Equipment
Amortization of core deposit premium
Communication
Legal and professional services
Computer software services
Advertising
Other
Total other operating expense
Income before income taxes
Income taxes
Net income
I+r Share Datii
Basic earnings per share
Diluted earnings per share
Cash dividends declared
320,381
~
263,250
150,389
566
17,684
53,419
2,197
35,666
~
109,532
.~
210,849
1,350
209,499
-~
-
730
7,859
29,797
1,858
26,333
66,577
196,673
3,917
192,756
381
3,795
12,687
735
12,619
-
30,217
~. -
120,172
2,083
-~
118,089
~
2,915
14,408
12,188
576
765
1,767
4,863
(1 5 1 0)
3,989
3,195
43,156
73,211
9,218
4,864
3,897
4,642
8,575
2,818
2,569
22,369
132,163
120,492
41,312
79.180
2.60
2.57
0.88
~~
-
-
~.
_-
$
$
2,431
11,782
1 1,234
767
787
1,780
4,913
1,550
2,205
3,553
2,224
7,150
6,737
173
648
288
1,651
(1 9)
1,687
1.479
-. -
41,002
22.01 8
64,963
9,666
4,873
6,266
4,174
8,014
2,798
2,347
21,671
124,772
108,986
36,527
72.459
2.42
2.38
0.73
$
$
..
-
-
$
$
43,252
6,550
3,151
2,581
2,267
8,660
2,450
2,885
1 4 , 3 3 5
86,131
53,976
16,582
-~
37,394
1.90
1.87
0.64
Refer Io the Company's Annual Report on Form 10-K fur the fiscal year ended Docemher 31, 2006 for the
Consulidatd Financial Statements, including Report of Indeperident Registered Public Accounting Firm thereorr.
c
Corporate Infornution
Common Stock Information
Corporate Headquarters
220 South King Street Honolulu, Hawaii
Listing of Common Stock
NYSE: CPF
Mailing Address
P.O. Box 3590 9 Honolulu, Hawaii 9681 1-3590
Annual Meeting
6:OO p.m. (Hawaii Standard Time) Tuesday, May 22, 2007
Ala Moana Hotel (Carnation Room)
41 0 Atkinson Drive
Honolulu, HI 96814
All shareholders are invited to attend.
Independent Registered Public Accounting Firm
KPMG LLP
On December 31, 2002, Central Pacific Financial Corp.'s common
stock began trading on the New York Stock Exchange under the
ticker symbol "CPF".
Shareholders of Record and Dividend Declaration
& Stock Price Information
As of December 31, 2006, there were 30,709,389 shares
of common stock outstanding held by 3,488 shareholders of
record, excluding individuals and institutions for whom shares
were held in the names of nominees and brokerage firms. Set
forth below are the high and low sales prices and the cash
dividends declared on common stock for each quarter.
Shareholder Inquiries
Wells Fargo Bank, stock transfer agent for Central Pacific Financial
Corp. common stock, maintains shareholder records and can
assist with address changes, corrections in Social Security or tax
identification numbers and reissuance of stock certificates.
Contact information for Wells Fargo Bank:
Address:
Wells Fargo Bank
Shareowner Services
P.O. Box 64874
St Paul, MN 55164-0874
Phone:
Toll Free: 800-468-971 6
Monday - Friday, 7 a.m. to 7 p.m.
(Central Standard Time)
Direct Dial: 651 -450-4064
Web site: www.wellsfargo.com
Forward-Looking statements (these statemonts apply to Contra1 Pacific
Firiaricial Corp and all of its respective subsidiaries and affliates, to include, without
liniitation, Central Pacific Bank, all of which are collectively referred to herein as the
'"company"). This document may contain torward-looking statements concerning
projections of revenues, income, expenses. earnings per share, capital expenditures,
dividends. capital structure. or other financial itoms or mattors, c0nr:erniriy
future
ecorrornic perforrrrancc, concernlng merger-related synergies or matters, concerning
growth, concerriirrg cornpany operations, activities, initiatives, projects, products and
sewicos. or concerning any of the assumptioris iiriderlyiny (ir relating to any of the
forayoiriy Forward-I(ioking statements can be identified by the fact that they do not
relate strictly to lhistorical or current facts, and generally include the words '"believes".
"plans", "intends". "expects", "estimates". "hopes", "envisions", "targets", "goals",
strives" or words of similar meanirig o r expressiorr While we
believe that our forward-looking statements and the assuinptions underlying them are
reasonably based, such statoments and assumptions, aro by thoir naturc subject to risks
arid uncertainties, ;ind thus could later prove to be ifiaccurate or incorrect Accordinyly,
actual results could materially differ from projections for a variety of reasons, to include.
but not limited to: the impact of local, national. and international economies and events
(including national disasters) on tho company's husiness and operations and on tourism.
the military, the real estate market and industry, and other major industries operating
within the Hawaii market and other regional markets in which the company conducts its
business: the impact of legislation and regulation affecting the banking and financial
services industry: the impact of competitive products. sewices, pricing, and other
competitive forces within the banking and financial sewices industry: movements in
interest rates: loan delinquency rates: and trading of Central Pacitic financial Corp.
stock. For further information on factors which could cai~se actual results to materially
differ trom pmjections, please see Central Pacific Financial Corp.'s publicly available
Securitios and Exchange Commission filings. including its most recent Form 10-K. The
company does not update any of its forward-looking statements.
Stock Price
High
Low
$40.15
39.79
39.48
40.15
39.33
$ 38.79
38.28
37.02
37.68
38.79
$33.30
35.50
34.34
33.30
33.55
$ 31.10
31 .a7
33.10
31.10
33.20
Cash
Dividends
Declared
$ 0.88
0.23
0.23
0.21
0.21
$ 0.73
0.19
0.19
0.19
0.16
2006
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
2005
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
Financial Information
For additional financial information, analysts, investors and others
can obtain a copy of Form IO-K by writing or e-mailing:
Central Pacific Financial Corp. Investor Relations
P.O. Box 3590
Honolulu, Hawaii 9681 1-3590
E-mail: investor@centralpacificbank.com
A copy of the Company's Annual Report and Form 10-K are also
available on the Company's web site.
Contact Information
Phone:
Fax:
Web site: www.centralpacificbank.com
E-mail:
info@centralpacificbank.com
(808) 544-0500
(808) 531 -2875
SWIFT: CEPBUS77
FEDWIRE:CENT PAC HONO 121301 578
Products and Services & l3ranch Locations
Products and Serviccs
Central Pacific Bank is a full-service commercial bank with a multitude of services as generally listed below:
Deposit Services
Loans
Electronic Banking
Trust & Investments
Other
Internet Banking /
Rill Payment SetVlCES
Phone Banking
CheckGard
Merchant Bankcard
Services
Personal Checking
Business Checking
Money Market Accounts
9 Sweep Accounts
9 Savings Accounts
9 Certificates of Deposit
Individual Retirement
Accounts
IOLTNIRE-TA Accounts
Lockbox
Armored Gar
Deposit Pick-ups
Commercial Loans
Construction Loans
S B.A. Loans
Leasing Services
Credit Lines
Mortgage Loans
Homo Equity Loans
Letters of Credit
Credit Cards
9 Consumer Loans
Credit Life and
Disability Insurance
Branch Locations
Private Banking
Savings Bonds
Traveler's Checks
Notary Services
wire Transfers
Financial Planning
Custodial
. Asset Management
9 Annuities
(Fixed & Variable Rates)
Securities
International Banking
Mutual Funds
Bonds
Brokerage Services
Through a network of 38 branches statewide, including four supermarket branches and over 90 ATMs, the company brings
convenience to its customers. There are 32 branches on the island of Oahu, three branches on the island of Maui, two branches on
the island of Hawaii, and a branch on the island of Kauai.
Island of Oahu
Island of Maui
Main Branch
220 South King Street
Kalihi Gulick Branch
21 19 North King Street
Moiliili Branch
2615 South King Street
Kahului Branch
85 West Kaahumanu Avenue
Beretania Branch
1338 South Beretania Street
Kaneohe Branch
45-1 054 Kamehameha Highway
Bethel Branch
1018 Bethel Street
Kaneohe Windward Branch
45-1 151 Kamehameha Highway
Hawaii Kai Branch
6600 Kalanianaole Highway
Kapahulu Branch
909 Kapahulu Avenue
Kahala Branch
421 1 Waialae Avenue
Kahala lnstore Branch
1 173 21 st Avenue
(in Times Supermarket)
Kaheka lnstore Branch
801 Kaheka Street
(in Don Quijote)
Kailua Branch
419 Kuulei Road
Kailua lnstore Branch
345 Hahani Street
Kaimuki Branch
3465 Waialae Avenue
Kalihi Branch
2024 North King Street
Kapalama Branch
1535 Oillingham Boulevard
Kapiolani Branch
1600 Kapiolani Boulevard
Kapolei Branch
680 Kamokila Boulevard
Keeaumoku Branch
81 8 Keeaumoku Street
Mapunapuna Branch
960 Mapunapuna Street
McCully Branch
2002 South King Street
Mililani Branch
95-720 Lanikuhana Avenue
Pearl City lnstore Branch
850 Kamehameha Highway
(in Don Quijote)
Pearlridge Branch
98-150 Kaonohi Street
Royal Kunia lnstore Branch
94-615 Kupuohi Street
(in Times Supermarket)
Wahiawa Branch
935 California Avenue
Waikiki Branch
105 Uluniu Avenue
Waikiki Shopping Plaza Branch
2250 Kalakaua Avenue
(on Seaside Avenue)
Kihei Branch
207 Piikea Avenue
Wailuku Branch
2061 Wells Street
Island of Hawaii
Hilo Branch
525 Kilauea Avenue
Kailua-Kona Branch
75-1 01 0 Henry Street
Island of Kauai
Lihue Branch
4364 Rice Street
Waimalu Branch
98-1 247 Kaahumanu Street
Waipahu Branch
94-210 Pupukahi Street e CENTRAL PACIFIC BANK
Member FDIC GI
[DBRi
Ward Branch
505 Ward Avenue