Bankoh subsidiary
to buy Arizona branches

First National Bank of Arizona, a subsidiary of Bancorp Hawaii Inc., will buy the four Arizona branches of Home Savings of America, under a definitive agreement signed with Home Savings parent H.F. Ahmanson & Co.

The Arizona bank offices together have deposits of about $270 million. First National Bank has assets of $178 million, with five offices in Phoenix and one in Yuma.

Its president, Stephen Todd, said the acquisition expands its business into counties where it did not have branches.

Terms of the transaction, expected to close in the first quarter of 1997, were not disclosed.

Isle bank executive honored
for helping minorities

Paul Rehob, vice president and small business community manager at Bank of America Hawaii, will be honored in Washington, D.C. Sept. 26 as National Minority Business Advocate of the Year.

Rehob

The award is from the U.S. Department of Commerce's Minority Business Development Agency. Rehob was recognized for, among other things, working on behalf of minority-owned businesses to introduce small-business loan programs and alternative financing.

The Honolulu Minority Business Development Center, which represents the federal minority business agency in Hawaii, said the agency has also recognized Gary and Clara Cowell, owners of a Honolulu computer technology firm, DataCare Technologies. They won a regional award for minority business development and will receive it Sept. 12 in San Francisco.

Stratosphere halts phase 2
of Vegas project

LAS VEGAS - Stratosphere Corp. said today it halted construction on the second phase of its Las Vegas casino tower, citing an anticipated cash shortfall and the need to restructure existing debt.

Stratosphere's 1,149-foot observation tower, hotel and casino in Las Vegas opened to great fanfare in April, but has since faced operational difficulties and smaller-than-expected crowds. The second phase of construction included a new hotel tower, pool and spa.

For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.

Bankoh subsidiary to buy Arizona branches

Isle bank executive honored for helping minorities

Stratosphere halts phase 2 of Vegas project

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Bankoh subsidiary
to buy Arizona branches

Isle bank executive honored
for helping minorities

Stratosphere halts phase 2
of Vegas project

Text Site Directory:
[News] [Business] [Features] [Sports] [Editorial] [Community] [Info] [Stylebook] [Feedback]