Failed Bank Information
Information for Bank of Honolulu, Honolulu, HI
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
On October 13, 2000, Bank of Honolulu was closed by the State of Hawaii Department of Commerce and Consumer Affairs, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.
The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.
II. Press Release
The FDIC has issued a press release about the institution's closure. If you represent a media outlet and would like information about the closure, please contact the FDIC Public Affairs Office at (202) 898-6993.
III. Acquiring Financial Institution
All insured deposit accounts were transferred to Bank of the Orient, Honolulu, HI and were available as usual during regular business hours at the former Bank of Honolulu branches. You may contact Bank of the Orient at:
Bank of the Orient
233 Sansome Street
San Francisco, CA 94104
Phone: (808) 543-3700
IV. Priority of Claims
The dividend process is complete. In accordance with Federal law, allowed claims are paid, after administrative expenses, in the following order of priority:
- General Unsecured Creditors
- Subordinated Debt
V. Dividend Information
Dividend Information on Failed Financial Institutions
VI. Receivership Termination
The FDIC as Receiver for Bank of Honolulu has taken all actions necessary to terminate the Receivership Estate.
The Receiver published a legal notice of intent to terminate the receivership in The Honolulu Advertiser on February 13, 2003.
The Receiver has made all dividend distributions required by law.
Effective March 25, 2005, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.