Bank of Hawaii tops Forbes magazine list

AP News
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Posted: Jan 05, 2010 3:24 PM

Forbes magazine has ranked Bank of Hawaii the top performer among the nation's 100 largest banks and thrifts.

Forbes drew up the list from research done by SNL Financial of Virginia. It looked at eight financial measures, including return on average equity and net interest margin.

The magazine quotes Bank of Hawaii Chief Executive Allan Landon as crediting the bank's strong performance to its starchy balance sheet and a focus on risk-adjusted performance.

When the housing market heated up, Forbes says Bank of Hawaii stayed conservative in its underwriting strategy, which helped minimize its bad loans today.

The magazine says the bank's Nonperforming loans were only 1.2 percent of total loans in the latest quarter, eighth best among the 100 largest banks.