CENTRAL PACIFIC FINANCIAL Business Summary

Central Pacific Financial Corp. (NYSE: CPF) operates as the bank holding company for Central Pacific Bank, the fourth-largest financial institution in Hawaii. The company generates revenue primarily through net interest income derived from a $5.3 billion loan portfolio—heavily weighted toward residential and commercial real estate—and non-interest income from service charges, wealth management fees, and its market-leading Small Business Administration (SBA) lending operations. Its business segments are centered on commercial banking, including construction, consumer, and mortgage lending, with a strategic focus on serving as a financial bridge for Hawaii-Japan and Hawaii-Korea trade relationships. In the competitive landscape, CPF contends with dominant local players First Hawaiian Bank and Bank of Hawaii, as well as American Savings Bank and regional mainland competitors like Ameris Bancorp; it distinguishes itself through high-touch community banking and a specialized niche in ethnic and small business markets. Originally founded in 1954 by a group of Japanese American World War II veterans from the 442nd Regimental Combat Team and 100th Infantry Battalion, the company is currently led by Arnold D. Martines, who serves as Chairman, President, and CEO. Martines, a veteran of the Hawaii banking industry since 1995, is supported by Vice Chairman and COO David Morimoto and Executive Vice President and CFO Dayna Matsumoto, both of whom were promoted to their current roles in March 2025. The leadership team is characterized by deep local pedigree, with executives often holding positions on prominent Hawaii-based boards such as the Hawaii Community Foundation and the Institute for Human Services. The company maintains strong institutional backing, with approximately 88% of shares held by major investment firms, and its board includes notable local figures such as Robert K.W.H. Nobriga and Jason R. Fujimoto.