23^rd Consecutive Quarter of Positive Growth Overall

View 3rd Qtr 2015 Hawaii Business Activity Report (pdf, 8 KB)

(Honolulu, Hawaii October 25, 2015) – The third quarter 2015 First Hawaiian Bank Business Activity Report (BAR) showed an overall 5.62 percent increase for debit and credit “same store sales” over the comparable period of 2014, according to an announcement by Keith Nagata, First Hawaiian Bank senior vice president and Business Services Division manager. It marked the 23^rd consecutive quarter of positive growth overall.

“The summer months of July, August and September reflects a dramatic increase in consumers shopping for groceries, as Supermarkets once again topped the list for the second time in 2015," said Nagata. “This was the sector’s fifth consecutive quarter of double-digit growth and the second time that Supermarkets posted gains of over 20 percent. The last time Supermarkets exceeded 20 percent in growth was first quarter 2012.”

According to the report, 12 out of 16 sectors showed positive growth in the third quarter 2015 with five sectors recording double digit gains. Supermarkets topped the list with 28.56 percent, followed by Shipping 24.73 percent, Utilities 17.72 percent, Convenience Stores 12.48 percent and Home Improvement 10.03 percent. For the top three sectors of Supermarkets, Shipping and Utilities, this was their highest performing third quarter since 2010.

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 2014, the bank processed $4.7 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 $18.9 billion was founded in 1858 and and operates 57 branches Hawaii, three on Guam and two in the CNMI. The bank processes all major U.S. credit cards as well as JCB, China Union Pay and BC Global Card.