BREAKING NEWS: BoH delays departure for 12 months
Bank of Hawai’i has finally agreed to an urgent plea from American Samoa to delay for 12 months the full closure of one of its two branches in the territory to allow for a providing sufficient time to get an American chartered bank. The Utulei branch will remain open while the Tafuna branch will close as scheduled on March 15.
This was revealed during a meeting this morning in Honolulu prior to the U.S. Federal Reserve Bank of San Francisco public meeting, which was hosted in Honolulu but also received in Pago Pago via teleconferencing.
The governor’s executive assistant said this afternoon from Honolulu that Gov. Lolo Matalasi Moliga along with Congressman Faleomavaega Eni met this morning with Bank of Hawai’i president and CEO Peter Ho, who requested the meeting.
During the meeting Mr. Ho informed the governor and Faleomavaega that the bank will delay its departure for 12 months.
Lolo and Faleomavaega “expressed the appreciation of the people of American Samoa to Mr. Ho for his great sensitivity to needs of local residents,” said Iu.
See tomorrow’s edition for more details concerning the exact dates as well as information from the Federal Reserve Bank public meeting.
Updated 03/12/13 at 4:10 p.m. to reflect correction that only Utulei branch will remain open for 12 months.
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