Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, May 16, 1996

FDIC gives final OK to First Hawaiian deal

First Hawaiian Inc.'s proposal to establish a new Oregon-based subsidiary has cleared a final regulatory hurdle.

The company, parent of First Hawaiian Bank, on Wednesday said it has received approval from the Federal Deposit Insurance Corp. to open Pacific One bank in Portland. The bank is being formed as part of First Hawaiian's acquisition of 31 branches in Oregon, Washington and Idaho that are being divested as a result of a merger of U.S. Bancorp and West One Bancorp.

Pacific One will operate 25 branches in Oregon and one in Idaho beginning June 3, First Hawaiian said. The five branches being acquired in Washington state will operate as Pacific One Bank, FSB.


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see the Hawaii Inc. section in today's Honolulu Star-Bulletin.



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