SEATTLE–(BUSINESS WIRE)–The Federal Home Loan Bank of Seattle (Seattle Bank) has named First
Hawaiian Bank, headquartered in Honolulu, Hawaii, as the recipient of
its 2012 Community Spirit Award. The award recognizes a member of the
Seattle Bank cooperative that exemplifies the spirit of community
partnership in creating affordable housing and economic development
opportunities in the communities it serves.
“We are very pleased to recognize First Hawaiian Bank with our 2012
award,” stated Seattle Bank President and CEO Michael L. Wilson.
“Through its membership in the Seattle Bank and strong community
partnerships, First Hawaiian has helped to provide nearly $37.9 million
of grants and reduced-rate loans to support 1,150 affordable homes.” The
funding has included: $4.8 million of Seattle Bank Affordable Housing
Program (AHP) grants, $33.0 million of Community Investment Program/
Economic Development Fund (CIP/EDF) loans, and $60,000 of Home$tart
Program grants.
According to First Hawaiian Bank President and CEO Bob Harrison, “First
Hawaiian Bank’s commitment to serving the community dates back to its
founding by Charles Reed Bishop in 1858, and we have used the Seattle
Bank’s community investment programs for more than 20 years. We rely on
these programs because they not only help to create safe, sustainable
affordable housing—for seniors, first-time homebuyers, and others in
need—but also help to create jobs and to grow our local economy.”
First Hawaiian Bank will receive the Community Spirit Award at a
ceremony to be held in Hawaii later this year. Invitees will include
state and local civic and community leaders and members of the Seattle
Bank cooperative. Along with the award, First Hawaiian Bank will receive
$5,000 from the Seattle Bank to further its affordable housing mission.
About First Hawaiian Bank
First Hawaiian Bank (fhb.com), with assets of $16.1 billion, was founded
in 1858 and is Hawaii’s oldest and largest bank. As a financial industry
leader in profitability, loans and deposits, First Hawaiian Bank has
been helping individuals, families, and businesses achieve their
financial goals for over 153 years. The bank operates 58 branches in
Hawaii, three in Guam, and two in Saipan.
About the Seattle Bank
The Federal Home Loan Bank of Seattle (Seattle Bank) is a member-owned
cooperative, serving 339 community financial institutions. The Seattle
Bank provides its members with access to wholesale funding, which they
can use to make home mortgages, small business, and other loans in their
communities.
The Seattle Bank also works with its members and their community
partners to promote affordable housing and economic development. Each
year, the bank provides 10 percent of its profits to fund affordable
housing—both rental and homeownership—and provides millions of dollars
in reduced-rate loans for affordable housing and community economic
development.
The Seattle Bank’s Affordable Housing Program provides subsidy to
acquire, construct, or rehabilitate affordable rental or owner-occupied
housing for low- and moderate-income households. The Home$tart Program
provides downpayment assistance to first-time homebuyers earning up to
80 percent of area median income. The Community Investment Program /
Economic Development Fund offer reduced-rate loans for affordable
housing and community economic development.
One of 12 Federal Home Loan Banks in the United States, the Seattle Bank
serves Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington,
Wyoming, American Samoa, Guam, and the Northern Mariana Islands.
Visit the Seattle Bank’s website (www.fhlbsea.com)
for more information regarding the bank and its community investment
programs.
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