Bank of Hawaii Corporation Board of Directors Approves $230 Million for Repurchase of Common Stock.

Business Editors

HONOLULU--(BUSINESS WIRE)--Dec. 13, 2002

Bank of Hawaii Bank of Hawaii, a subsidiary of Bank of Hawaii Corporation (NYSE: BOH), is a regional commercial bank headquartered in Honolulu, Hawaii. It is Hawaii's second oldest bank and its largest locally owned bank in that majority of the voting stockholders reside within the state. Corporation (NYSE NYSE

See: New York Stock Exchange :BOH BOH Bournemouth (UK) Airport Identifier
BOH Bank of Hawaii
BOH Board of Health
BOH Back Of House
BOH Board of Housing (Montana Dept of Commerce)
BOH Badge of Honor
BOH Bridge Of Hope
BOH Bag of Holding ) announced today that its Board of Directors has authorized the repurchase of up to an additional $230 million of its common stock. This authorization, combined with the Company's previously announced authorizations of $570 million, brings the total repurchase amount to $800 million.

The total of these repurchase authorizations is consistent with the company's Strategic Plan announced in April 2001. The funds available for repurchase represent proceeds from divested businesses and managed asset reductions that improved the Company's credit profile and reduced the amount of required capital.

To date, the Company has repurchased a total of 19.9 million shares under its previously announced share repurchase Share Repurchase

A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. authorizations at an average share price of $26.15 for a total of $519 million. The remaining repurchase authority for the Company is now approximately $281 million in common stock.

Bank of Hawaii Corporation is a regional financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The company's principal subsidiary, Bank of Hawaii, was founded in 1897.

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Publication:	Business Wire
Date:	Dec 13, 2002
Words:	183
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