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First Hawaiian Bank Chief Information Officer Retiring

First Hawaiian Bank Chairman and Chief Executive Officer Bob Harrison announced that Gary Caulfield, First Hawaiian Bank vice chairman and chief information officer, is retiring after a distinguished 34-year career as an executive at Hawaii’s largest bank.

Gary Caufield

Caulfield began his banking career with First Hawaiian in 1983 as an assistant vice president and quickly rose through the ranks. He was named vice chairman in 2003 and chief information officer in 2009 and has been a member of the bank’s senior management committee since 1995.

“Throughout his tenure with the bank, Gary has played a pivotal role in leading numerous technology systems conversions and operational changes while minimizing disruption to customer service,” said Bob Harrison, chairman and CEO of First Hawaiian. “Through his skillful oversight in the areas of technology, data management, operations and research, the bank has been able to achieve greater efficiencies across the board, resulting in significant process optimization.”

“Gary is an accomplished leader, a wise sage, and is a teacher at heart. I am grateful for him generously sharing his institutional knowledge with all of us,” said Eric Yeaman, president and COO of First Hawaiian. “We want to thank Gary for his friendship, his years of outstanding leadership, and his unwavering dedication to our customers, his team and to our bank.”

Caulfield will be succeeded by Derek Baughman, executive vice president, as the bank’s chief information officer. Baughman assumes his new role effective March 1, 2017.

Derek Baughman

Baughman has over 27 years of experience in the IT industry with 22 of those years in the banking industry and joined the bank in 2014. He is responsible for leading the bank’s development of strategic technology initiatives, overseeing all aspect of technology operations and managing enterprise-wide technology programs to ensure the bank’s systems provide optimal results.

First Hawaiian Bank (fhb.com) with assets of $19.7 billion was founded in 1858 as Bishop & Co., and today is Hawaii’s largest bank offering a diversified range of banking services to consumer and commercial customers, including deposit products, lending services, wealth management, insurance, private banking and trust services. The bank has 57 branches in Hawaii, three on Guam and two on Saipan. First Hawaiian, Inc. (NASDAQ: FHB), the parent company of First Hawaiian Bank, is the largest publicly traded company based in Hawaii.

Ten Big Island Credit Unions Join in Japan Tsunami Relief Effort

From the Mayors Office:

Ten credit unions in the County of Hawai ‘i have agreed to serve as collection points for the “Aloha for Japan ” relief effort, joining in a statewide campaign by the largest banks in Hawai‘i to assist victims of the devastating earthquake and tsunami in Japan , Mayor Billy Kenoi announced today.

“All of us have been saddened by the loss of life and terrible damage in Japan, and we all want to help,” Mayor Kenoi said. “I want to thank the credit unions in our community for stepping forward to join in this effort to assist the victims of this tragedy.”

Participating credit unions in the County of Hawai ‘i include HFS Federal Credit Union; Hawai‘i Community Federal Credit Union; CU Hawaii Federal Credit Union; Hawai‘i County Employees Federal Credit Union; and Hawai‘i First Federal Credit Union.

Also joining in the relief effort are the Independent Employers Group Federal Credit Union; North Hawai ‘i Community Federal Credit Union; Ka‘u Federal Credit Union; Big Island Federal Credit Union; and Onomea Federal Credit Union.

“With such close ties between Hawai‘i and Japan, we are very happy to join in this collaborative effort of credit unions across the island to support our family, friends and all those in Japan suffering during this traumatic time,” said Bernard Balsis, president of the Independent Employers Group Federal Credit Union.

The credit unions are joining Hawai‘i business leaders, members of the Japanese community, Lt. Gov. Brian Schatz and Japan Consul General Yoshihiko Kamo in a coordinated effort to collect monetary donations.

Banks that are volunteering as collection points for the relief effort include American Savings Bank, Bank of Hawaii, Central Pacific Bank, Finance Factors, First Hawaiian Bank, Hawaii National Bank, HomeStreet Bank, Pacific Rim Bank and Territorial Savings Bank. Those banks are providing almost 275 collection points statewide.

Checks should be made payable to “Aloha for Japan .” Donation checks can also be mailed to: Aloha for Japan , 2454 South Beretania Street, Suite 201 , Honolulu , HI 96826

First Hawaiian Bank Credit Line Used in Mainland Fraud Scheme… More Troubles for Chevrolet

firsthawaiian

The former co-owner of Tracy Chevrolet pleaded not guilty in federal court on Monday to charges of scamming a bank out of $2.5 million, the U.S. Attorney’s Office in Sacramento announced.

Stephen Kraut, 46, of Discovery Bay could spend as many as 30 years in federal prison, five years of supervised release and get fined $1 million if convicted of all 15 charges. Kraut is out of custody until his next court appearance on June 5.

A federal grand jury on April 30 handed down a 15-count indictment charging Kraut with using his position as general manager of Tracy Chevrolet to secure an $11 million line of credit in early 2005 through First Hawaiian Bank to pay for outside business ventures, among other things, when he agreed to use the money to buy and resell cars for the Tracy dealership. Kraut took out a second $12.1 million line of credit in 2006. He used $2.5 million from those accounts for his alleged scheme…

…The indictment says Kraut also gave false financial statements to the bank to make it look like the dealership was making money, when in fact it was operating at a loss.

Kraut “knowingly and with intent to defraud, caused Tracy Chevrolet to become ‘out of trust’ with First Hawaiian Bank,” according to the indictment. Kraut allegedly used some of the defrauded money “to make lulling payments” to the bank “in order to continue the fraud scheme.” He allegedly used the rest to keep the dealership open, pay himself monthly bonuses and as interest-free loans to finance his personal business ventures…

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