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Community Reinvestment Act

The Community Reinvestment Act (CRA) encourages depository institutions to help meet the credit needs of the communities in which the operate, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations.

Evaluation of CRA Performance

The CRA requires that each depository institution’s record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account when federal regulators consider an institution’s application for the expansion or reduction of facilities and other services.

In 2019, Central Pacific Bank was given the highest rating of “Outstanding” from the Federal Deposit Insurance Corporation (FDIC) for its efforts in meeting the needs of its community, including low- and moderate-income neighborhoods and individuals, from 2017 through 2019. The FDIC prepared a Community Reinvestment Act (CRA) Performance Evaluation, which includes an assessment of Central Pacific Bank’s efforts to help meet the credit needs within the State of Hawaii, through the bank’s lending, investment, and service activities. The complete CRA Performance Evaluation can be viewed at any of the bank’s branches statewide or the FDIC’s website.

Community Development

Central Pacific Bank is a leader in community development lending, originating over $381 million in community development loans during the last FDIC CRA evaluation period. 

Central Pacific Bank is often in a leadership position when making community development investments and donations, making over $43 million community development investments and donations during the last FDIC CRA devaluation period.

Central Pacific Bank is a leader in providing community development service, providing over 10,200 hours of community development service during the last FDIC CRA devaluation period.

What is community development?

Community development is defined as:

  1. Affordable housing for low-and moderate-income individuals;
  2. Community services targeted to low- and moderate-income individuals;
  3. Activities that promote economic development by financing business or farms that meet the size eligibility standards of the Small Business Administration’s Development Company or Small Business Investment Company programs or that have gross annual revenues of $1 million or less; and
  4. Activities that revitalize or stabilize a low- to moderate-income community.