Closed Friday, October 13, 2000 · Honolulu, Honolulu County, Hawaii
Bank of Honolulu
No bank in Hawaii had failed for five years, since Bank USA, N.A. closed in 1995. Bank of Honolulu's assets had shrunk 45% from their peak in the third quarter of 1992 by the last report before closing. It reported a net loss in seven of its final nine reporting years.
On the books, 1992 to 2000
Total assets peaked at $117 million. Equity capital went from 7.6% of assets in the third quarter of 1992 to 6.3% at the last report. By then 10% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $2.5 million, was booked in 1998.* 2000: January to June only, the last report before closing.
Size against the other 2000 failures
Total assets of each 2000 failure, log scale; Bank of Honolulu in red.
By assets it ranked fourth of the 7 failures in 2000. Within Hawaii it ranks first by size of the 4 failures recorded since 1934. Across the failures of 2000, the median estimated loss came to 5.3% of assets. In the size ranking of that year, just above it was The Bank of Falkner of Falkner, Mississippi ($85.5 million, loss 17% of assets); just below, Mutual Federal Savings Bank of Atlanta, Georgia ($31.5 million, loss 4.2% of assets). Every 2000 failure in the explorer.
Failures in Hawaii
No bank in Hawaii has failed since. Honolulu County has 2 failed banks on FDIC record since 1934. The other: Federal Finance & Mortgage, Ltd. (1991).
Per year since 1980, 2000 in red. Every Hawaii failure