Corporate Governance

Directors

Management

The Company and the Bank have an absolute duty to require the highest level of conduct and ethics of themselves and their employees. That duty shall extend not only to actual conduct but, also, to any act or activity which could be perceived by our shareholders, depositors, or the community as being inconsistent with the highest standards of professionalism and ethics.

It is not acceptable under any circumstances to further the Company's, the Bank's or one's own interests through any violation of law or regulation of the United States of America, the State of Hawaii, or any jurisdiction in which the Company or the Bank does business. To assure uniformity in standards of conduct, the Company and the Bank have established this Code of Conduct, Conflict of Interest and Prohibition Against Trading on Material Inside Information Policy ("Code"). This Code reaffirms and clarifies our basic policy that conflicts of interest are to be avoided, but should they occur, they will be quickly and satisfactorily corrected and otherwise resolved in such a manner so as to avoid any liability and injury to the reputation of the Company or the Bank. It applies to all employees, including officers, who are not subject to Regulation O, 12 CFR 215. Regulation O officers, directors, principal shareholders are covered under the Insider Activities Policy.

Each of us must manage our personal and business affairs to avoid situations that might lead to conflict (or even an appearance of conflict) between self-interest and responsibility to the businesses that employ us, or those that we serve, including their customers, the community and shareholders.

In situations involving ethical or moral judgments, it may be difficult to determine the correct course of action. In such instances, this Code requires that employees not rely solely on their own judgment, but discuss any such matter in full with their immediate supervisor. Full and accurate disclosure of the facts in a timely fashion in accordance with established procedures and obtaining written approval from the appropriate authority generally will serve to meet responsibilities with respect to this Code. Any matter specified herein as requiring Executive Management, Company or Management Committee approval is to be referred through normal supervisory channels.
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• Audit and Corporate Governance Committee
• Community Reinvestment Act Committee
• Discount Committee
• Executive Committee and the Compensation Committee

• Audit and Corporate Governance Committee
• Community Reinvestment Act Committee
• Discount Committee
• Executive Committee and the Compensation Committee

The Board of Directors (the "Board") of Hawaii National Bank (the "Bank") have adopted the following Guidelines on Corporate Governance to guide the Board in the exercise of its responsibilities. The Audit and Corporate Governance Committee of the Board is responsible for implementing and reviewing these guidelines at least annually, and submitting any recommended revisions to the full Board for approval.

RESPONSIBILITIES OF THE BOARD