The rankings were published in its Dec. 30, 2009 online edition and will be included in the Jan. 18, 2010 print issue.
“This recognition reflects positively on our bank, our community, and our employees. Although we do not seek recognition, our employees and those we serve should take pride in the Bank of Hawaii financial performance, especially during a difficult economic environment,” said Al Landon, Bank of Hawaii chairman and chief executive officer.
To determine the ranking, Forbes partnered with SNL Financial and evaluated U.S. owned banks and thrift institutions ranging in asset size from $5.2 billion (Harlyesville National Bank) to $2.3 trillion (Bank of America). Bank of Hawaii has assets of $12.2 billion.
The 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.
Last year, ABA Journal, the trade publication for the American Bankers Association, ranked Bank of Hawaii the top performing bank in the country for 2008 among banks with assets of $3 billion or more.
