22nd Consecutive Quarter of Positive Growth Overall

View 2nd Qtr 2015 Hawaii Business Activity Report (pdf, 8 KB)

(Honolulu, Hawaii, July 15, 2015) – The second quarter 2015 First Hawaiian Bank Business Activity Report (BAR) showed a 6.26 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 is the 22^nd consecutive quarter of positive growth overall.

“Second quarter 2015 is trending upward from last quarter and we hope this is a trend that will continue through the rest of 2015,” Nagata said. “This was the first time since first quarter 2013 that Shipping topped the list and the sector’s fourth consecutive quarter of positive gains made since a decline in second quarter 2014. Hotels had a solid quarter moving up from ninth place last quarter to fourth place this quarter with 10.73 percent. These gains in the tourism sector were made despite a weakening Yen.”

According to the report, 12 out of 16 sectors had positive growth in the second quarter 2015. Five sectors had double-digit gains with Shipping topping the list at 18.83 percent followed by Utilities at 14.93 percent, Supermarkets at 13.82 percent, Hotels at 10.73 percent and Convenience Stores at 10.39 percent. Supermarkets continue a four quarter trend of consecutive double-digit increase since third quarter 2014. For both Utilities and Supermarkets, this was the highest second quarter performance for these sectors in six years.

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 $18.7 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.