Ronald Migita, who earned $1 a as CEO of Central Pacific Financial Corp. last year, is getting a raise.

In a filing with the Securities and Exchange Commission, the bank holding company said Migita will earn $250,000 for the second half of 2009.
The raise, which is on top of Migita�s $80,000 annual compensation as Central Pacific�s chairman, places him at the bottom of the pay scale when it comes to local CEO pay.
An Advertiser study earlier this year found that the average pay for a CEO of a local publicly traded company is about $2.9 million.