History

Hawaii National Bank is a closely held community bank which has earned a reputation for its excellent service to small businesses. The Bank opened its doors on September 19, 1960 with record-breaking opening-day deposits. Operating from a two-story building in the Chinatown neighborhood of downtown Honolulu, it was the largest of 134 banks opening in the United States that year.

Ever since, Hawaii National Bank has been one of the keystone institutions of Hawaii finance, providing a wide range of services to small business customers and individual account holders.

Though a newcomer, Hawaii National Bank was a prime mover in innovative products. Hawaii National Bank was the first to offer education loans (1960), daily interest on savings (1965), compounded daily interest on savings (1968), free personal checking accounts (1969), free business checking accounts (1975), and a home equity credit line (1983).

Hawaii National Bank has been instrumental in developing programs which have made it easier and more convenient for small business owners to obtain financing. One example is the Bank's Small Business Base Rate program. Initiated to give small businesses special assistance in a difficult economic climate, family-owned or closely held businesses were offered loans at a rate 1/2% less than the commercial Base Rate that would be offered to a large company. Hawaii National Bank is the only bank in Hawaii to offer such a program.

Another example is the Bank's Prime Plus Business Access Creditline -- a convenient, do-it-yourself business loan in the form of a revolving line of credit accessed by check. It is designed to eliminate the need for separate loan requests and is available with credit limits of $10,000 to $250,000. Hawaii National Bank was one of the first banks in Hawaii to offer this service to small business customers.

Hawaii National Bank is the only bank in Hawaii to participate in the Overseas Chinese Credit Guarantee Fund, which provides loan guarantees to small businesses owned by overseas Chinese.

As one of the Islands' community banks, Hawaii National Bank has always prided itself on its ability to understand the special nature and unique needs of Hawaii's family-owned and closely held businesses -- and to offer services and support based on shared experiences of growing a business in Hawaii. While other banks have gone out of Hawaii to secure new business, Hawaii National Bank is committed to doing business in and for Hawaii.

In 1997, Hawaii National Bank had the highest percentage of small business loans (defined as loans of less than $250,000) of all the commercial banks in Hawaii. Further, in a report by the Office of Advocacy of the U.S. Small Business Administration, the Bank was recognized as being the "most friendly" lender to small business in its asset size in the State.