Federal regulators gave Central Pacific Bank the highest rating of “outstanding” for its efforts from 2005 to 2008 in meeting the lending needs of its community, including low- and moderate-income neighborhoods and minorities.

The rating was issued by the Federal Deposit Insurance Corp. as part of a performance evaluation under the Community Reinvestment Act.
“Just as our founding father’s envisioned, Central Pacific continues to be the bank that works for you and our communities,” said Ronald K. Migita, chairman, president and chief executive officer of Central Pacific Bank.
The report showed Central Pacific Bank originated 293 qualified community development loans totaling $1.5 billion over the evaluation period of Oct. 4, 2005, to Dec. 2, 2008. By dollar volume the lending was significantly higher than CPB’s peers and represents more than a $900 million increase since the last evaluation.