Highest percent increase in 3 years

View 3rd Qtr 2012 Business Activity Report (pdf, 6.99 kb)

(Honolulu, Hawaii, October 14, 2012) –The third quarter First Hawaiian Bank Business Activity Report (BAR) for Hawaii showed a 9.44 percent increase in "same store sales" over the third quarter of 2011, according to Keith Nagata, senior vice president and Business Services Division Manager.  This was the highest overall percentage increase posted in a third quarter since 2010.

"Hotels posted their highest gain in three years with an increase of 19.27 percent. This is further indication that the tourism sector continues to rebound and is leading our state's economic recovery," Nagata said.  "A total of 15 out of the 16 sectors showed positive growth over 2011, with 6 sectors posting double-digit increases over the prior year."

The BAR tracks sales activity in 16 different economic sectors including automobile, retail, hotels, home improvement, restaurants, shipping and travel, among others.  First Hawaiian Bank has over 7,500 merchant locations throughout Hawaii, Guam, CNMI and U.S. Mainland and therefore is able to provide a broad measure of economic activity.

First Hawaiian is the largest local processor of merchant services.  In 2011, the bank processed over $4.1 billion worth of credit and debit card sales transactions, an increase of 8.0% percent over 2010 and more than any other local financial institution.

First Hawaiian Bank, with assets of $16.1 billion, was founded in 1858 and is Hawaii's oldest and largest financial institution.  The bank processes all major U.S. credit cards as well as JCB, BC Global and China Union Pay.