July 25, 2006

FIRST HAWAIIAN BANK POSTS RECORD 2006 SECOND QUARTER EARNINGS

(Honolulu, Hawaii, July 25, 2006) – First Hawaiian Bank today reported record 2006 second quarter earnings of $51.9 million, an increase of 25.3% over the second quarter of 2005, according to an announcement today by Don Horner, President and Chief Executive Officer.

For six months ending June 30, 2006 the bank earned a record $100.6 million, an increase of 25.9% over the comparable year-earlier period.

“The bank experienced an exceptional quarter thanks to a continued positive economy and a highly customer-focused group of employees,” Horner said. “We expect 2006 to be a strong year for FHB, but the economy is clearly showing signs of slower growth.”

  • For the six months ending June 30, 2006, First Hawaiian achieved the following:
  • Total Assets: reached $11.8 billion, an increase of 7.7% over the previous year.
  • Loans and Leases: were $6.1 billion, a 6.0% increase.
  • Deposits: were $8.7 billion, up 6.8%.
  • Non-Performing Assets as a percentage of total assets were 0.02%.

During the quarter First Hawaiian announced that it became the only bank in Hawaii to offer both free online checking statements and instant images of canceled checks. These new services offer customers added convenience and security as well as the ability to review and monitor their account activity at any time. Additionally, the bank announced the introduction of a new no fee Priority Rewards MasterCard credit card that lets personal customers earn points for a host of local and national rewards including no “black out” travel.

First Hawaiian Bank ($11.8 billion assets) was founded in 1858 and is Hawaii's oldest and largest bank. It has 57 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation (www.bancwestcorp.com), a financial holding company with assets of $66.7 billion.

# # #