Central Pacific Bank Receives an "Outstanding" CRA Rating From FDIC—Assessment Based on Bank's Performance in Reinvesting in Hawaii

Central Pacific Bank (CPB) was once again given the highest rating of “Outstanding” for its efforts in meeting the needs of its community, including low- and moderate-income neighborhoods and minorities, from 2012 to 2014, according to the Federal Deposit Insurance Corporation (FDIC). The FDIC assessment comes from its Community Reinvestment Act (CRA) performance evaluation that measures how financial institutions support their communities in the areas of lending, investment and service.

The bank has now maintained an “Outstanding” rating for its CRA performance for 10 consecutive years, from 2004 to 2014. “At Central Pacific Bank, supporting the disadvantaged segments of our community is a high priority,” said CEO and Chairman John Dean. “We are honored to be recognized by the FDIC for having an ‘outstanding’ commitment to reinvesting in our community.”

The CRA report credits CPB with exceeding peer lending performance to small businesses and recognizes the bank as a leader in providing significant financial and technical assistance to community development nonprofit organizations. The report also mentions that Central Pacific Bank exhibits an excellent record of serving the credit needs of the most economically disadvantaged areas, low-income areas, and very small businesses.

In 1977, Congress enacted the Community Reinvestment Act (CRA) to encourage federally insured banks and thrifts to help meet the credit needs of their entire community, including low- and moderate-income neighborhoods and minorities, consistent with safe and sound operations.

The CRA evaluation measures how financial institutions support their communities in the areas of lending, investment and service. Receiving an Outstanding rating shows that Central Pacific Bank exhibited an excellent record of reinvesting and giving back to the community, particularly in serving the needs of the most economically disadvantaged areas, low-income individuals and very small businesses, consistent with safe and sound practices in the bank’s assessment areas (AA) of Honolulu and Hawaii. The complete CRA report can be viewed at any of the bank’s 36 branches statewide.