(Seattle, WA August 13, 2012) – The Federal Home Loan Bank of Seattle (Seattle Bank) has named First Hawaiian Bank, headquartered in Honolulu, Hawaii, as the recipient of its 2012 Community Spirit Award. The award recognizes a member of the Seattle Bank cooperative that exemplifies the spirit of community partnership in creating affordable housing and economic development opportunities in the communities it serves.

"We are very pleased to recognize First Hawaiian Bank with our 2012 award," stated Seattle Bank President and CEO Michael L. Wilson. "Through its membership in the Seattle Bank and strong community partnerships, First Hawaiian has helped to provide nearly $37.9 million of grants and reduced-rate loans to support 1,150 affordable homes." The funding has included: $4.8 million of Seattle Bank Affordable Housing Program (AHP) grants, $33.0 million of Community Investment Program/ Economic Development Fund (CIP/EDF) loans, and $60,000 of Home$tart Program grants.

According to First Hawaiian Bank President and CEO Bob Harrison, "First Hawaiian Bank's commitment to serving the community dates back to its founding by Charles Reed Bishop in 1858, and we have used the Seattle Bank's community investment programs for more than 20 years. We rely on these programs because they not only help to create safe, sustainable affordable housing—for seniors, first-time homebuyers, and others in need—but also help to create jobs and to grow our local economy."

First Hawaiian Bank will receive the Community Spirit Award at a ceremony to be held in Hawaii later this year. Invitees will include state and local civic and community leaders and members of the Seattle Bank cooperative. Along with the award, First Hawaiian Bank will receive $5,000 from the Seattle Bank to further its affordable housing mission.

About First Hawaiian Bank

First Hawaiian Bank (fhb.com), with assets of $16.1 billion, was founded in 1858 and is Hawaii's oldest and largest bank. As a financial industry leader in profitability, loans and deposits, First Hawaiian Bank has been helping individuals, families, and businesses achieve their financial goals for over 153 years. The bank operates 58 branches in Hawaii, three in Guam, and two in Saipan.

About the Seattle Bank

The Federal Home Loan Bank of Seattle (Seattle Bank) is a member-owned cooperative, serving 339 community financial institutions. The Seattle Bank provides its members with access to wholesale funding, which they can use to make home mortgages, small business, and other loans in their communities.

The Seattle Bank also works with its members and their community partners to promote affordable housing and economic development. Each year, the bank provides 10 percent of its profits to fund affordable housing—both rental and homeownership—and provides millions of dollars in reduced-rate loans for affordable housing and community economic development.

 The Seattle Bank's Affordable Housing Program provides subsidy to acquire, construct, or rehabilitate affordable rental or owner-occupied housing for low- and moderate-income households. The Home$tart Program provides down payment assistance to first-time homebuyers earning up to 80 percent of area median income. The Community Investment Program / Economic Development Fund offer reduced-rate loans for affordable housing and community economic development.

One of 12 Federal Home Loan Banks in the United States, the Seattle Bank serves Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, Wyoming, American Samoa, Guam, and the Northern Mariana Islands.

Visit the Seattle Bank's website (www.fhlbsea.com) for more information regarding the bank and its community investment programs.