Bank of Hawaii is not leaving in June, and this was confirmed by American Samoa Branch VP and Branch Manager for Bank of Hawaii, EJ Tyler Ozu when he appeared before the House Economic Development Committee chaired by Larry Sanitoa last week. An exact departure date was not given by Ozu, saying only that June is abrupt and too soon.

Last month House Speaker Savali Talavou Ale said that Bank of Hawai’i would be leaving at the end of June this year. During the same session, the issue on BoH leaving was brought up when Tualauta faipule, Vui Florence Tuaumu Saulo pointed out that bank’s officials should be questioned as to the exact date they are planning to close down for business.

Savali pointed out to the lawmakers that Governor Lolo Matalasi Moliga and his administration has worked tirelessly and has turned over every rock, seeking options for BoH to remain in the territory, however it’s been unsuccessful.

During the hearing last week Vice Speaker of the House Fetu Fetui Jr told Ozu that for many years the public has worked with BoH and he asked Ozu if there is a possibility for the bank to reconsider leaving the island.

Ozu explained that anything is possible, however the bank at the onset of their decision to leave went through a thorough and very thoughtful process. He said they wouldn’t make a decision in haste to only go back on that decision.

“We internally evaluated everything and we left no stone unturned. We went through our whole process and the decision to close was made at the very top level of the bank. So, it’s not to say that it cannot happen, but I think the decision within BoH has been made.”

“And our intent to close remains. It’s just that we understand that we’ve become a stable part of American Samoa and we understand that us vacating would leave a void. That is why we’ve extended for two years now, to try and allow time for a smooth transition for another bank to come in and replace the services.”

Maugaoali’i Sipa Anoa’i  said that BoH is literally family to American Samoa, and they have been serving the territory for over 40 years. “It almost feels like a marriage gone bad, for lack of better words.”

He thanked BoH for extending their stay and said that the public and most of the lawmakers would really like BoH to continue their services in the territory, simply “because you have been a major part of the community.”

Maugaoali’i then asked about the June date that the lawmakers were told was the date BoH was leaving.

Ozu said there may be a misunderstanding on the June date, and BoH is not leaving in June. He also pointed out that for BoH to leave in June would be abrupt and too soon.

He also told the lawmakers that BoH has discussed leaving their resources for another bank that will come into the territory, like their vault and other equipment, as they will not take it back to their main office in Honolulu.