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American Samoa : GOVERNOR appeals Bank of Hawaii to hold up exit from American Samoa.

A personal appeal from American Samoa's governor hinders Bank of Hawaii's (BOH) plan to way out the territory. The company has agreed to the delay after Gov. Lolo Moliga appealed to Peter Ho, Bank of Hawaii's chief executive, to give the U.S. territory time to find a new bank. After Moliga's request, Bank of Hawaii agreed to keep one of its two branches open through June 14, or a 90-day extension to the original plan to close it on March 15. The bank's other branch on the territory will close as originally scheduled.

The Federal Reserve Bank of San Francisco will hold a public meeting in Honolulu next Tuesday to discuss the bank's plans to close its branches in the territory.

In November, the $13.8 billion-asset Bank of Hawaii said that it would close the branches in the first quarter of 2013 to concentrate on its core markets of Hawaii and Guam.

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Publication:Mena Report
Geographic Code:1U0AS
Date:Mar 9, 2013
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