Finance and Economic

First Hawaiian Bank’s profits rose 7.5 percent to $222.5 million in 2008 while its fourth-quarter profits increased 8.8 percent to $55.9 million.

The bank reported Monday that its total revenue increased by 9.1 percent year over year to $680 million last year. Deposits were up 3.1 percent to $9.4 billion. And loans and leases rose 20.8 percent to $7.9 billion.

Nonperforming assets as a percentage of total assets were one of the lowest in the nation at 0.1 percent.

As it celebrated its 150-year anniversary in 2008, profitability was a major milestone for the state’s largest bank, which has $12.8 billion in assets, said Chairman and CEO Don Horner.

“Despite the economic challenges, the bank remains well-positioned to continue to provide our customers with both solid financial solutions and security,” Horner said in a prepared statement equifax free credit report online.

Last year, First Hawaiian became the first local bank to accept debit and credit card purchase transactions through China Union Pay, China’s national credit card brand. It signed an agreement with Mitsubishi UFJ Trust and Banking Corp. to provide corporate trustee, successor trustee and estate settlement services for Japanese citizens. It also constructed and opened a new, larger landmark branch on Guam.

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