Hawaii

Central Pacific Financial Corp. of Honolulu has appointed its turnaround consultant as executive vice president and chief financial officer.

Territorial Bancorp Inc. of Honolulu posted a 43.5% increase in second-quarter net income from a year earlier, to $3.2 million.

Central Pacific Financial Corp. in Honolulu posted a second-quarter loss of $16.1 million, as credit problems remained high but subsided from a year earlier.

Central Pacific Financial Corp. in Honolulu has entered into an agreement with state and federal regulators requiring it to submit a capital restoration plan within 60 days.

Bank of Hawaii Corp. in Honolulu reported Monday that first-quarter earnings increased roughly 46%, to $52.7 million, compared with a year earlier. The rise was partly because of lower credit costs and higher net interest income.

Bank of Hawaii Corp. in Honolulu said Monday that its fourth-quarter earnings rose 3% from a year earlier, to $40.5 million as growth in noninterest income was offset by higher credit costs and a lower margin.

Central Pacific Bank is quitting California. The Honolulu unit of Central Pacific Financial Corp., which has suffered heavy losses on West Coast construction loans, said Thursday that it would wind down operations there by 2012.

For months now, Central Pacific Financial has been aiming at a moving target in trying to raise capital. And after a staggering $183M third-quarter loss because of rising loan trouble, the target just moved again.

Only three mutual thrifts have succeeded in going public so far this year, but the conversion market is starting to pick up, with two large deals on the way.