BANK OF HAWAII CORPORATION (NYSE:BOH) Files An 8-K Other Events
Item 8.01OTHER EVENTS
On November 1, 2018, Bank of Hawaii sold its MyBankoh Rewards Credit Card portfolio, comprised of outstanding assets of approximately $51 million, to Barclays Bank Delaware. Bank of Hawaii made the decision to exit the business to strategically focus on its co-branded Hawaiian Airlines Bank of Hawaii World Elite Mastercard program. Additionally, approximately $200 thousand in termination fees were due to separate credit card companies as a result of the sale.
About BANK OF HAWAII CORPORATION (NYSE:BOH)
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Company operates through four business segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other. Its Retail Banking segment offers a range of financial products and services to consumers and small businesses. Its Commercial Banking segment offers products, including corporate banking, commercial real estate loans, commercial lease financing, auto dealer financing and deposit products. Its Investment Services segment offers private banking, trust services, investment management and institutional investment advisory services. The Company’s Treasury and Other segment consists of corporate asset and liability management activities, including interest rate risk management and a foreign currency exchange business.