Ralph Mesick, a veteran Hawaii banker with nearly 40 years of
financial services experience, has joined Central Pacific Bank
(CPB) as its Senior Executive Vice President and Chief Risk
Officer, according to an announcement today by Arnold Martines, CPB
chairman, president, and chief executive officer.
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Ralph Mesick. Photo courtesy: Central
Pacific Bank
“We want to be sure we are prepared for the increase in
regulatory oversight the banking industry is currently going
through,” said Martines. “Ralph will play a key role in helping us
successfully manage the changing regulatory environment and
strengthen our overall risk management infrastructure.”
At the bank, Mesick will oversee key risk functions and be a
member of the bank’s Executive Committee.
“I am grateful to have this opportunity to join Central Pacific
Bank,” said Mesick. “The bank was started for our community, by our
community, and I look forward to helping build our capacity to best
serve all of our stakeholders in that very spirit.”
Mesick holds a Bachelor of Business Administration from the
University of Hawaii-Manoa as well as a Master of Business
Administration with a concentration in Banking, Finance, and
Investments from the University of Wisconsin-Madison. He also
completed an Advanced Risk Management Program at Wharton School at
the University of Pennsylvania. In addition, he graduated at the
top of his recruitment class and is a former police officer with
the Honolulu Police Department.
Active in community affairs, he is a former Chairman of the
State of Hawaii Housing Finance and Development Corporation, the
Hawaii District Council of the Urban Land Institute, and the Hawaii
Community Reinvestment Corporation. He is a past Regent of
Chaminade University and served on the board of the Boys and Girls
Club of Hawaii, the Saint Francis Health Care System, and the
Kapiolani Hospital Foundation. Mesick currently serves on the board
of HomeAid Hawaii, a non-profit builder that focuses on the
homeless and is engaged with initiatives to support residents
displaced by the wildfires in Maui. He is a trustee at Saint Louis
School and a member of the finance council for the Roman Catholic
Church in Hawaii, Diocese of Honolulu.
About Central Pacific Financial Corp.
Central Pacific Financial Corp. is a Hawaii-based bank
holding company with approximately $7.39 billion in assets as of
June 30, 2024. Central Pacific Bank, its primary subsidiary,
operates 27 branches and 55 ATMs in the State of Hawaii. Central
Pacific Financial Corp. is traded on the New York Stock Exchange
(NYSE) under the symbol "CPF." For additional information, please
visit: cpb.bank
Equal Housing Lender Member FDIC CPF Listed NYSE
Forward-Looking Statements
This document and any accompanying oral presentation may contain
forward-looking statements ("FLS") concerning: projections of
revenues, expenses, income or loss, earnings or loss per share,
capital expenditures, payment or nonpayment of dividends, capital
position, credit losses, net interest margin or other financial
items; statements of plans, objectives and expectations of Central
Pacific Financial Corp. (the "Company") or its management or Board
of Directors, including those relating to business plans, use of
capital resources, products or services and regulatory developments
and regulatory actions; statements of future economic performance
including anticipated performance results from our business
initiatives; or any statements of the assumptions underlying or
relating to any of the foregoing. Words such as "believe," "plan,"
"anticipate," "seek," "expect," "intend," "forecast," "hope,"
"target," "continue," "remain," "estimate," "will," "should," "may"
and other similar expressions are intended to identify FLS but are
not the exclusive means of identifying such statements.
While we believe that our FLS and the assumptions underlying
them are reasonably based, such statements and assumptions are by
their nature subject to risks and uncertainties, and thus could
later prove to be inaccurate or incorrect. Accordingly, actual
results could differ materially from those statements or
projections for a variety of reasons, including, but not limited
to: the effects of inflation and interest rate fluctuations; the
adverse effects of recent bank failures and the potential impact of
such developments on customer confidence, deposit behavior,
liquidity and regulatory responses thereto; the adverse effects of
the COVID-19 pandemic virus (and its variants) and other pandemic
viruses on local, national and international economies, including,
but not limited to, the adverse impact on tourism and construction
in the State of Hawaii, our borrowers, customers, third-party
contractors, vendors and employees, as well as the effects of
government programs and initiatives in response thereto; supply
chain disruptions; the increase in inventory or adverse conditions
in the real estate market and deterioration in the construction
industry; adverse changes in the financial performance and/or
condition of our borrowers and, as a result, increased loan
delinquency rates, deterioration in asset quality, and losses in
our loan portfolio; the impact of local, national, and
international economies and events (including natural disasters
such as wildfires, volcanic eruptions, hurricanes, tsunamis,
storms, and earthquakes) on the Company's business and operations
and on tourism, the military, and other major industries operating
within the Hawaii market and any other markets in which the Company
does business; deterioration or malaise in domestic economic
conditions, including any destabilization in the financial industry
and deterioration of the real estate market, as well as the impact
of declining levels of consumer and business confidence in the
state of the economy in general and in financial institutions in
particular; changes in estimates of future reserve requirements
based upon the periodic review thereof under relevant regulatory
and accounting requirements; the impact of the Dodd-Frank Wall
Street Reform and Consumer Protection Act, changes in capital
standards, other regulatory reform and federal and state
legislation, including but not limited to regulations promulgated
by the Consumer Financial Protection Bureau, government-sponsored
enterprise reform, and any related rules and regulations which
affect our business operations and competitiveness; the costs and
effects of legal and regulatory developments, including legal
proceedings and lawsuits we are or may become subject to, or
regulatory or other governmental inquiries and proceedings and the
resolution thereof; the results of regulatory examinations or
reviews and the effect of, and our ability to comply with, any
regulations or regulatory orders or actions we are or may become
subject to, and the effect of any recurring or special FDIC
assessments; the effect of changes in accounting policies and
practices, as may be adopted by the regulatory agencies, as well as
the Public Company Accounting Oversight Board, the Financial
Accounting Standards Board and other accounting standard setters
and the cost and resources required to implement such changes; the
effects of and changes in trade, monetary and fiscal policies and
laws, including the interest rate policies of the Board of
Governors of the Federal Reserve System; securities market and
monetary fluctuations, including the impact resulting from the
elimination of the London Interbank Offered Rate Index; negative
trends in our market capitalization and adverse changes in the
price of the Company's common stock; the effects of any
acquisitions or dispositions we may make; political instability;
acts of war or terrorism; changes in consumer spending, borrowings
and savings habits; technological changes and developments;
cybersecurity and data privacy breaches and the consequence
therefrom; failure to maintain effective internal control over
financial reporting or disclosure controls and procedures; our
ability to address deficiencies in our internal controls over
financial reporting or disclosure controls and procedures; changes
in the competitive environment among financial holding companies
and other financial service providers; our ability to successfully
implement our initiatives to lower our efficiency ratio; our
ability to attract and retain key personnel; changes in our
personnel, organization, compensation and benefit plans; our
ability to successfully implement and achieve the objectives of our
Banking-as-a-Service initiatives, including adoption of the
initiatives by customers and risks faced by any of our bank
collaborations including reputational and regulatory risk; and our
success at managing the risks involved in the foregoing items.
For further information with respect to factors that could cause
actual results to materially differ from the expectations or
projections stated in the FLS, please see the Company's publicly
available Securities and Exchange Commission filings, including the
Company's Form 10-K for the last fiscal year and, in particular,
the discussion of "Risk Factors" set forth therein. We urge
investors to consider all of these factors carefully in evaluating
the FLS contained in this document. FLS speak only as of the date
on which such statements are made. We undertake no obligation to
update any FLS to reflect events or circumstances after the date on
which such statements are made, or to reflect the occurrence of
unanticipated events except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240903419404/en/
Investor Contact: Ian Tanaka SVP, Treasury Manager (808)
544-3646 ian.tanaka@cpb.bank
Media Contact: Tim Sakahara AVP, Corporate Communications
Manager (808) 544-5125 tim.sakahara@cpb.bank
Central Pacific Financial (NYSE:CPF)
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