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First Hawaiian Bank's Second Quarter 2014 Business Activity Report Credit and Debit Sales Volume Up 5.03 Percent

July 20, 2014 at 3:11 PM EDT

18th Consecutive Quarter of Positive Growth Overall

View 2nd Qtr 2014 Hawaii Business Activity Report (pdf, 7 KB)

(Honolulu, Hawaii July 20, 2014) – The second quarter 2014 First Hawaiian Bank Business Activity Report (BAR) showed an overall 5.03 percent increase for debit and credit "same store sales" over the comparable period of 2013, according to an announcement by Keith Nagata, senior vice president and First Hawaiian Banks' Business Services Division manager.

"We are seeing a positive trend continue quarter-over-quarter, with 5.02 percent overall growth in second quarter 2014, up from the 3.82 percent increase the prior quarter," Nagata said.  "The top two sectors Utilities/Communications and Home Improvement each posted double digit growth. This is the third consecutive quarter that the Home Improvement sector is in the number 2 spot, posting the largest second quarter-over-quarter growth it has seen since the start of this report."

According to the report, 13 out of 16 sectors had positive growth in the second quarter 2014.  Utilities/Communications posted 11.38 percent and Home Improvement 11.16 percent.  The last time Utilities/Communications posted double digit growth was in second quarter 2013.

The BAR tracks debit and credit card sales activity in 16 different economic sectors including automotive, retail, hotel, home improvement, restaurants, shipping and travel, among other categories.  The report offers a broad measure of economic activity in the state.

First Hawaiian Bank is the largest local processor of credit and debit card transactions in Hawaii.  In 2013, the bank processed $4.4 billion worth of customer credit and debit card sales transactions.  The bank provides merchant services to nearly 7,000 First Hawaiian Bank merchant locations throughout Hawaii, Guam, the CNMI and the U.S. Mainland.

First Hawaiian Bank (fhb.com) with total assets of $17.3 billion was founded in 1858 and is Hawaii's largest and oldest bank.  The bank processes all major U.S. credit cards as well as JCB, China Union Pay and BC Global Card.