FIRST HAWAIIAN,INC. (NASDAQ:FHB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) On March11, 2019, the Board of Directors (the “Board”) of First Hawaiian,Inc. (the “Company”), upon the recommendation of the Compensation Committee of the Company, approved an amendment (the “Amendment”) to the First Hawaiian,Inc. Supplemental Executive Retirement Plan (formerly referred to as the “BancWest Corporation Supplemental Executive Retirement Plan”, the “SERP”) to freeze the SERP and provide that no new participants will be designated thereunder. As a result of the Amendment, effective July1, 2019, there will be no new accruals of benefits, including with respect to service accruals and the final average compensation determination. Existing benefits under the SERP, as of the date of the freeze, will otherwise continue in accordance with the terms of the SERP.
About FIRST HAWAIIAN,INC. (NASDAQ:FHB)
First Hawaiian, Inc. is a bank holding company. The Company’s subsidiary, First Hawaiian Bank, is a financial institution. The Company’s Retail Banking segment serves retail customers and small businesses and offers a range of products and services that include deposit products, mortgage and home equity lending, auto financing, business loans and wealth management services. Its Commercial Banking segment offers a range of financial products and services, including corporate banking, residential and commercial real estate lending, commercial lease financing, auto dealer financing, deposit products and credit cards. Its Treasury and Other segment includes its treasury business. The bank has approximately 57 branches throughout Hawaii, over three in Guam and approximately two in Saipan. It offers a range of banking services to consumer and commercial customers, including deposit products, lending services and wealth management, insurance, private banking and trust services.
