The Bank of Hawaii has declined to take part in federal bailout.
The company said it was “well capitalized” and did not need to participate in the U.S. Treasury’s Capital Purchase Program.
“After careful consideration by management and our board of directors, we have decided not to participate in the Capital Purchase Program,” said Al Landon, Chairman and CEO, in a statement Monday. “Bank of Hawaii has the resources to meet the needs of our customers and support our growth. We believe that Bank of Hawaii is safe, balanced and prepared to face the challenging operating conditions as the economy slows without government investment…”