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FIRST HAWAIIAN NAMED ONE OF THE TOP 10 BANKS IN THE COUNTRY BY BUSINESSWEEK MAGAZINE

 FIRST HAWAIIAN NAMED ONE OF THE TOP 10 BANKS
 IN THE COUNTRY BY BUSINESSWEEK MAGAZINE
 HONOLULU, April 22 /PRNewswire/ -- First Hawaiian Inc. (NASDAQ: FHWN) and its principal subsidiary, First Hawaiian Bank, today announced it has been rated among the top 10 banks in the country for its profitability, earnings and safe lending practices by BusinessWeek magazine in its April 27 issue. According to the BusinessWeek ratings, First Hawaiian is the only bank to score in all three of the top 10 ratings for profitability, steady earnings and safe lending. This marks the third year in a row that First Hawaiian has been named in the magazine's annual rankings of the nation's 100 largest bank holding companies.
 First Hawaiian had only 0.6 percent of the bank's assets nonperforming last year, making it one of the 10 safest banks in the country. In addition, First Hawaiian ranked eighth in both the "most profitable" and "steadiest earners" categories based on its return on equity of 17.4 percent and its average five-year growth in earnings per share of 19 percent. First Hawaiian last year won the distinction of being the "safest lender" in the country by BusinessWeek.
 "We are extremely pleased to be rated one of the strongest banks in the country for the third consecutive year by BusinessWeek," according to First Hawaiian Inc. Chairman and Chief Executive Officer Walter A. Dods Jr. "As the article mentions, our conservative lending policies, coupled with the state's resilient economy, has enabled us to earn this distinction once again." He noted that while First Hawaiian's nonperforming assets as a percent of assets has edged up slightly since last year due to the effects of the mainland recession, the bank continues to maintain one of the lowest ratios of nonperforming assets in the country.
 In addition, First Hawaiian recently received kudos from U.S. Banker magazine as one of America's 60 most profitable banks, and Dods has been named a bronze award winner for banking by Financial World magazine in its 1992 CEO of the Year issue.
 In the U.S. Banker April 1992 issue ratings for profitability, First Hawaiian ranked 34th in the country and sixth for banks in the $5 billion to $10 billion range. In order to qualify for ranking among the 60 most profitable banks in the country, each 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.
 Financial World's annual CEO of the Year competition recognizes superior business leadership and achievement among chief executive officers who run public companies with at least $100 million in revenues and/or assets. Bronze award winners are selected by their peers and by securities analysts at Wall Street's largest investment houses. Dods was the only Hawaii chief executive officer named as a bronze award winner in the Western Banks category in the magazine's March 31 issue.
 First Hawaiian Inc. is a bank holding company with $6.6 billion in assets, whose principal subsidiary is First Hawaiian Bank, one of the largest financial institutions in Hawaii. Other subsidiaries include First Hawaiian Creditcorp Inc., the state's largest locally owned financial services loan company and First Hawaiian Leasing Inc., which is primarily engaged in commercial equipment and vehicle leasing.
 -0- 4/22/92
 /CONTACT: Lisa Halvorson of First Hawaiian, 808-525-6111/
 (FHWN) CO: First Hawaiian Inc. ST: Hawaii IN: FIN SU:


KJ-EH -- LA005 -- 1087 04/22/92 09:16 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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