Citing the high cost of doing business as a public company, a struggling, Honolulu-based bank is reverting to private ownership.

Hawaii National Bank chief executive officer Warren K.K. Luke said last week that the bank's stock is too illiquid to justify the legal and accounting expenses that go with routine Securities and Exchange Commission filings. Hawaii National's stock is not listed on any exchange. Its shares traded Thursday at $45, the first transaction in eight trading days.

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