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CPB INC. RATED AMONG TOP 60 MOST PROFITABLE BANKS IN THE UNITED STATES

CPB INC. RATED AMONG TOP 60 MOST PROFITABLE BANKS IN THE UNITED STATES
 HONOLULU, May 14 /PRNewswire/ -- CPB Inc. (NASDAQ: CPBI) has been rated No. 45 of the nation's 60 most profitable banks in a survey conducted by United States Banker magazine. When categorized by bank size, CPB Inc. was listed 19th in the $1 billion to $10 billion in assets category.
 The survey results were published in the April issue of United States Banker.
 To be considered for the survey, a banking company had to earn at least 1 percent on assets for each of the four years from 1988 through 1991, and its equity/asset ratio had to be at least 5 percent at the end of 1991. Rankings were based on the banks' average return on assets (ROA) for the four-year period ending on Dec. 31, 1991. Survey data was provided by SNL Securities, which adjusted the ROAs to eliminate non- recurring items.
 CPB Inc. ratings were: $1,135 million in assets; 7.91 percent equity/assets; 1.21 percent adjusted 1991 ROAA; 15.08 percent adjusted 1991 ROAE; and 8.19 percent NPA/Eq+Res.
 The United States Banker article stated that America's most profitable banking companies are spread across the nation and include very large and very small organizations. Small banks tend to be less leveraged than their bigger competitors and consequently must earn higher ROAs to get a comparable return for their investors.
 "We're extremely proud to be part of this survey and to be recognized at a national level," said Yoshiharu Satoh, chairman of the board and chief executive officer of CPB Inc.
 The overall most profitable bank is Bank of Granite Corp. in Granite Falls, N.C.
 Central Pacific Bank is the third-largest commercial bank in Hawaii. Founded in 1954 with a capital base of $1 million, CPB has grown into a $1 billion institution with more than 500 employees and 18 branches throughout the state.
 -0- 5/14/92
 /CONTACT: Wayne Kirihara, VP and manager-marketing division of Central Pacific Bank, 808-544-0500/
 (CPBI) CO: Central Pacific Bank Inc. ST: Hawaii IN: FIN SU:


DM-JL -- LA032 -- 0345 05/14/92 15:10 EDT
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Date:May 14, 1992
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/C O R R E C T I O N -- CPB Inc./.
/C O R R E C T I O N -- CPB Inc./.

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