HONOLULU, HAWAII – Bank of Hawaii (BOH) received the highest possible rating from the Federal Reserve Board (FRB) for its most recent performance under the Community Reinvestment Act (CRA). The Community Reinvestment Act of 1977 requires federally insured deposit-taking institutions to support the borrowing needs of all the communities where they do business, including low- and moderate-income areas.
This is the seventh consecutive evaluation in which Bank of Hawaii has received an “outstanding” rating. The rating period was from 2009 through 2010.
The "outstanding" rating is based on Bank of Hawaii’s performance under the lending, investment and service tests. These tests examine mortgage, small business and community development lending, community development investments and retail banking and community development services in the communities the bank serves.
The CRA evaluation made specific references to Bank of Hawaii strengths including its efforts addressing the need for affordable housing targeted to low- and moderate-income individuals and families.
It also recognized Bank of Hawaii as a leader in providing community development services, particularly in personal financial education. Examples include: