First Hawaiian Bank: Guam Business Activity Falls 1.68% in 4th Quarter

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Hagåtña, Guam – (January 28) – The 2013 fourth quarter First Hawaiian Bank Business Activity Report (BAR) for Guam showed a decline of 1.68 percent in
“same store sales” over the fourth quarter of 2012, according to Laura Dacanay, First Hawaiian Bank senior vice president and Guam/CNMI region manager.

“Six of the 11 sectors showed positive gains and the top three industry sectors to post the largest gains this quarter were Utilities 15.17 percent, Supermarkets 14.81 percent and Insurance 11.65 percent,” stated Dacanay. “We saw .13 percent positive growth for the year in 2013 with 8 out of 11 sectors showing increases over prior year. In both the fourth quarter and year overall, some sectors experienced declines with the slowdown in tourism.”

The Guam BAR tracks sales activity in 11 different economic sectors including retail, hotels, home improvement, restaurants, and travel activities, among others. First Hawaiian Bank has nearly 7,000 merchant locations throughout Hawaii, U.S. Mainland, Guam and CNMI and therefore is able to provide a broad measure of economic activity.

First Hawaiian is a processor of debit and credit card sales transactions for all major U.S. credit cards as well as JCB, China Union Pay and BC Global. In 2013, the bank processed over $4.4 billion worth of credit and debit card sales transactions.

First Hawaiian Bank (www.fhb.com) with assets of $17.1 billion, was founded in 1858 and is the leading bank in Guam with the largest share of loans and deposits in the region.