Central Pacific Bank
A Hawaii-based regional commercial bank providing personal, small-business, commercial, lending, and wealth-management services.
Last updated August 22, 2026
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Overview
Central Pacific Bank, commonly known as CPB, is a Hawaii-based regional commercial bank headquartered in Honolulu. Established in 1954, it was created by Japanese American second-generation veterans, including members of the 442nd Regimental Combat Team, the 100th Infantry Battalion, and the Military Intelligence Service. The founders sought to address the financial and social barriers faced by immigrant families and other communities in postwar Hawaii. Support from first-generation Japanese American business leaders and managerial assistance from Sumitomo Bank helped the group secure a charter and open the institution for business. CPB serves consumers, entrepreneurs, small businesses, commercial enterprises, and wealth-management clients. Its banking range includes checking and savings accounts, certificates of deposit, individual retirement accounts, credit cards, residential mortgages, consumer loans, commercial loans, lines of credit, and related treasury and cash-management services. Its wealth-management activities include insurance and trust services. The bank’s business model is strongly regional: rather than competing primarily through a national branch network, it emphasizes relationships with Hawaii households, local companies, and community organizations. Small-business banking is a particularly visible part of CPB’s market position. The bank highlights its participation in the U.S. Small Business Administration lending program and has stated that it has provided more SBA loans than all other Hawaii banks combined. During the COVID-19 pandemic, CPB developed an online portal for Paycheck Protection Program applications. According to the bank’s referenced history, the program produced the highest share of PPP loans distributed by any bank in any U.S. state, although the precise market-share methodology and period are not specified here. The institution has also invested in digital banking and branch modernization. It introduced phone banking in the early 1990s, expanded ATM access through the ATM Plus network, and later pursued a broader redesign of its main branch through the RISE2020 initiative. In 2021, CPB introduced Shaka Checking, described as Hawaii’s first entirely digital checking account, and added live online chat with customer-service representatives. These initiatives complement its physical presence and community-oriented service model. Community engagement is another central element of the brand. The CPB Foundation, established in 2007, supports youth opportunities and social progress through grants to organizations across Hawaii. The bank’s WE by Rising Tide program provides women entrepreneurs with a ten-week program covering financial management, marketing, branding, and networking. CPB also uses the Tidepools lobby at Central Pacific Plaza for small-business marketplace events, giving local companies a physical venue to present and sell their products. CPB operates as a subsidiary of Central Pacific Financial Corp., the publicly traded Hawaii bank holding company whose shares trade on the New York Stock Exchange under the symbol CPF. The bank remains active and is positioned as one of Hawaii’s major locally rooted financial institutions, combining conventional retail and commercial banking with SBA lending, digital products, wealth management, and community programs.
History
Central Pacific Bank was organized in postwar Hawaii by Japanese American nisei veterans who had served in units including the 442nd Regimental Combat Team, the 100th Infantry Battalion, and the Military Intelligence Service. Among the people associated with the founding effort was Daniel Inouye, who later became a United States senator. The institution emerged from concerns that immigrant families and minority communities did not receive fair or adequate access to established financial institutions. The organizers sought assistance from issei business leaders, whose connections brought the project into contact with Sumitomo Bank, a Japanese institution that had operated in Hawaii before World War II. The organizers raised approximately $1 million through community-based fundraising across the islands. With this capital and managerial support from Sumitomo, the bank obtained its charter on January 29, 1954, and opened for business on February 15 of that year. Its opening represented more than the creation of another financial institution: it helped expand acceptance of Japanese American and other ethnic communities within Hawaii’s banking system and broader economy. By the time Hawaii achieved statehood in 1959, CPB operated five branches, including its downtown headquarters. During the 1960s and 1970s, the bank pursued modernization and automation while expanding its balance sheet and geographic reach. Its total assets grew from $6.3 million in 1954 to $410.9 million in 1979, according to the referenced historical account. In 1981, construction began on a new corporate headquarters in downtown Honolulu. The building was completed in 1982, and the bank moved its corporate headquarters there in February 1983. CPB continued introducing new delivery channels and infrastructure in the following decade. It joined the ATM Plus network in 1990, increasing customer access to automated teller machines, and launched telephone banking services in 1992. These developments were part of a longer transition from branch-only banking toward more distributed and technology-enabled service. The bank formalized its philanthropic activity in 2007 by creating the CPB Foundation. The foundation’s stated purpose is to create opportunities for Hawaii’s youth and support social progress. It has subsequently provided funding to organizations throughout the state. CPB’s community role also expanded through programs for entrepreneurs and small businesses, including women’s entrepreneurship education and marketplace events at Central Pacific Plaza. In January 2020, the bank launched RISE2020, a plan to modernize its main branch with an indoor-outdoor lanai, coworking facilities, and a new retail environment. The pandemic soon made digital access and small-business relief especially important. CPB created an online portal for Paycheck Protection Program applications and reported a leading national share of PPP lending. The bank later introduced Shaka Checking in 2021, presenting it as Hawaii’s first all-digital checking account, and added live customer-service chat. Central Pacific Bank operates under Central Pacific Financial Corp., a Hawaii-based bank holding company listed on the New York Stock Exchange as CPF. In 2025, CPB donated its former Operations Center on School Street to the City and County of Honolulu’s Department of Community Services. The donation extended the bank’s long-standing community orientation into a significant transfer of property for public use. Today, CPB remains an active Hawaii-centered commercial bank offering consumer, small-business, commercial, lending, digital, and wealth-management services.
- 2025
Former Operations Center donated
[1]CPB donated its former School Street Operations Center to the City and County of Honolulu Department of Community Services.
- 2021
Shaka Checking launched
[1]CPB introduced Shaka Checking, an all-digital checking product, and added live online customer-service chat.
- 2020
RISE2020 and PPP digital portal
[1]The bank launched its main-branch modernization program and built an online portal for Paycheck Protection Program applications during the pandemic.
- 2007
CPB Foundation established
[1]CPB created its philanthropic foundation to support Hawaii youth and statewide social progress.
- 1992
Telephone banking introduced
[1]The bank introduced phone banking services.
- 1990
ATM Plus network participation
[1]CPB joined the ATM Plus network to broaden automated banking access.
- 1982
New headquarters completed
[1]Construction of a new downtown Honolulu corporate headquarters was completed.
- 1959
Five-branch network by Hawaii statehood
[1]By the time Hawaii became a state, CPB operated five branches, including its downtown headquarters.
- 1954
Charter and opening
[1]Central Pacific Bank received its charter on January 29 and opened for business on February 15, following a grassroots capital campaign and assistance from Sumitomo Bank.
Products and positioning
A locally rooted Hawaii bank focused on relationship banking, small-business financing, digital convenience, and community participation.
Retail banking
Personal banking
CPB’s personal banking services include checking and savings accounts, certificates of deposit, individual retirement accounts, credit cards, consumer loans, and residential mortgages. These products support routine payments, saving, borrowing, and household financial planning through the bank’s Hawaii-centered branch and digital channels.
Business banking
Small-business and SBA lending
Small-business finance is a major part of CPB’s stated positioning. The bank provides business loans, lines of credit, and SBA-backed financing, with an emphasis on Hawaii entrepreneurs and locally operated companies. It also developed an online portal for PPP applications during the COVID-19 pandemic.
Commercial banking
Commercial banking
Commercial banking services address the financing and cash-management needs of established businesses and organizations. The offering includes commercial loans, credit lines, deposit accounts, and related banking support. CPB’s regional footprint enables it to focus on businesses operating in Hawaii and associated Pacific markets.
Digital banking · 2021
Shaka Checking
Shaka Checking is CPB’s digital checking product, launched in 2021 and described by the bank’s historical reference as Hawaii’s first all-digital checking account. It forms part of CPB’s effort to combine a local-bank relationship model with digitally delivered everyday banking.
Wealth management
Wealth management
CPB provides wealth-management services that include insurance and trust services. The offering extends the bank’s relationship with customers beyond deposits and lending into longer-term financial planning and asset-related services.
Marketing campaigns
- WE by Rising Tide
Hawaii
An annual entrepreneurship program for cohorts of women business owners. Over ten weeks, participants receive education in financial management, marketing, branding, and networking.
Outcome. The program supports women entrepreneurs and strengthens CPB’s community and small-business banking positioning.
- Tidepools small-business marketplaces
Honolulu · Hawaii
CPB regularly hosts small-business marketplace events in the Tidepools lobby at Central Pacific Plaza, providing local companies with space to display and sell products.
Outcome. The events provide direct visibility and selling opportunities for local businesses while reinforcing the bank’s community role.
Brand decisions
2025
Donation of former Operations CenterOtherBackground
CPB no longer needed its former Operations Center on School Street for its operating model.
Action taken
The bank donated the property to the City and County of Honolulu Department of Community Services.
Aftermath
The donation transferred a former bank facility to public use. The referenced material states that its value exceeded $1.6 million, but does not provide a more precise valuation date.
2021
Launch of Shaka CheckingProduct launchBackground
CPB continued expanding digital access while retaining its local branch and relationship-banking model.
Action taken
The bank launched Shaka Checking as an all-digital checking account and introduced live online chat with customer-service representatives.
Aftermath
The move strengthened CPB’s digital-banking offering and customer-service accessibility.
2020
Launch of RISE2020 branch modernizationStrategyBackground
CPB sought to update its main branch and make the physical banking environment more flexible and community-oriented.
Action taken
The bank planned an indoor-outdoor lanai, coworking spaces, and a redesigned retail area.
Aftermath
The initiative became part of CPB’s broader effort to modernize its branch experience alongside digital banking.
2020
Digital Paycheck Protection Program application portalProduct launchBackground
The COVID-19 pandemic created urgent demand for government-backed financing among small businesses.
Action taken
CPB created an online portal through which businesses could apply for Paycheck Protection Program loans.
Aftermath
The bank reported achieving the highest PPP-loan market share of any bank in any U.S. state, although the cited material does not specify the measurement period or methodology.
Recent events
Central Pacific Financial appoints Jonathan B. Kindred to its board[3]
Reported:
Central Pacific Financial Corp. appointed Jonathan B. Kindred as a director of its board and the board of Central Pacific Bank, effective November 1, 2021.
Central Pacific Bank announces executive promotions[4]
Reported:
Central Pacific Financial and Central Pacific Bank announced executive promotions effective January 1, 2022. Arnold Martines was to become President and Chief Operating Officer of both entities, among other role changes.
MX and Central Pacific Bank announce digital banking partnership[5]
Reported:
MX announced a partnership with Central Pacific Bank to provide customers with a digital money management experience through the bank’s website and mobile app. The solutions were expected to be offered in 2020.
Sources5 sources
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