Honolulu Star-Bulletin Business
Bankoh’s parent firm
to change its name

The company chooses to emphasize
its expanding reach with the name
Pacific Century Financial Corp.

By Rick Daysog

Bancorp Hawaii Inc., the state's largest financial institution, plans to change its name to Pacific Century Financial Corp., emphasizing the company's expansion in the Pacific Rim.

Bancorp said it will not change the name of its Bank of Hawaii subsidiary but will rename the 104-year-old Hawaiian Trust Co. as Pacific Century Trust Co.

The company's Bancorp Leasing, Bancorp Investment Group and First National Bank of Arizona subsidiaries also will take the Pacific Century name.

The proposed name changes are subject to shareholders' approval at the company's annual meeting on April 25.

"This new name reflects our strategic goals: To grow in Hawaii and throughout the Pacific and to position ourselves as a full-service financial provider," said Lawrence Johnson, Bancorp's chairman and chief executive officer.

"With our presence in Asia, throughout the Pacific and on the U.S. mainland, we believe the name Pacific Century Financial Corp. better communicates the scope of our business and better describes our geographic reach."

The company will not change the name of its 25-branch First Federal Savings & Loan Association of America subsidiary, Johnson said.

The company's stock symbol, BOH, on the New York Stock Exchange also will stay the same.

Linda Chinn, company spokeswoman, said the company may consider renaming its downtown headquarters, the 22-story Bancorp Tower.

Bancorp Hawaii has been the name of the parent company since 1980. Between 1971 and 1979, the company was known as Hawaii Bancorporation Inc. and prior to that, the company operated as Bank of Hawaii, Chinn said.

Bank of Hawaii, which operates 77 bank branches statewide, was founded in 1897.

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