News Release
First Hawaiian Bank Recognized as Hawai'i’s Top Bank and One of the Most Cybersecure Banks in the Nation by Forbes Magazine
FHB ranks as Hawai'i’s Top Bank for the third year in a row
Honolulu, April 30, 2024 - First Hawaiian Bank (FHB) announced that it was recognized by Forbes magazine as the top-ranked Hawai'i bank on its 2024 Best Banks in America list and one of the top 50 most cybersecure banks in the U.S., furthering FHB’s legacy as Hawaii’s leading financial institution.
“We are honored to be recognized for the third consecutive year as Hawai'i’s premier bank on Forbes’ Best Banks in America list. This accolade reflects the hard work of our employees as well as our loyal customers who continue to place their trust in our team,” said Bob Harrison, Chairman, President and Chief Executive Officer. “Additionally, our inclusion among the nation’s top 50 most cybersecure banks shows our commitment to prioritizing safety and security for our customers as we navigate the ever-changing digital landscape. We will continue to uphold the highest standards that led to FHB’s top rankings on these national lists.”
FHB has been ranked the top Hawaii Bank in the Forbes list five times in the seven years it has been eligible for the ranking, including consecutively in 2022 and 2023. The ranking evaluates the nation’s publicly traded banks and thrifts based on profitability, growth and credit quality. The criteria for the ranking includes total assets, return on tangible common equity, non-performing assets/total assets, common equity tier 1 ratio, efficiency ratio and operating revenue growth. Click here to view the list.
FHB continued its market leading performance, driven by stable loan balances, strong consumer and commercial deposits, and excellent credit quality. On Jan. 26, 2024, the bank reported its fourth quarter 2023 financial results with total assets of $24.9 billion at quarter-end. Total deposits closed at $21.3 billion and First Hawaiian, Inc. saw a fourth quarter net income of $151.8 million.
Forbes’ first-ever list of America’s Most Cybersecure Banks highlights the 50 U.S.-based banks with the best website security and cybersecurity infrastructure, demonstrating the highest level of technical capabilities, regulatory compliance, risk management practices, broad-level involvement in cybersecurity issues, and others. Click here to view the list.
For more information and highlights regarding the bank’s fourth quarter financial results, click here.