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Forbes Magazine Ranks Bank of Hawaii Among America’s Top Performers for Third Straight Year

Monday, December 19, 2011

HONOLULU, HAWAII – For the third year in a row, Forbes Magazine has named Bank of Hawaii as one of the top banks in the country. Bank of Hawaii was named #2 among the 100 largest U.S. banks and thrifts; it topped the Forbes’ list the two previous years. (The 2011 rankings were published in its Dec. 13 online edition.)

Peter Ho, Bank of Hawaii chairman, president and CEO, said, “Attaining this ranking speaks positively about our community, our clients, and especially our employees who work so hard to fulfill our customers’ needs. It’s particularly gratifying to be named among the top performing banks for all three years that Forbes has conducted this ranking.”

To determine the ranking, Forbes partnered with SNL Financial and evaluated U.S. owned banks and thrift institutions ranging in asset size from $4.6 billion (Beneficial Mutual Bancorp) to $2.3 trillion (JPMorgan Chase). Bank of Hawaii has assets of $13 billion. (Texas-based Prosperity Bancshares was ranked #1.)

The Forbes/SNL ranking was based on eight different financial performance measures, which included:

  • return on average equity,
  • net interest margin,
  • non-performing loans as a percentage of loans,
  • non-performing assets as percentage of assets,
  • reserves as a percentage of non-performing loans,
  • two capital ratios (Tier 1 and risk-based), and
  • leverage ratio.