First Hawaiian, Inc. Announces Pricing of Secondary Common Stock Offering

HONOLULU, Jan. 31, 2017 -- First Hawaiian, Inc. (NASDAQ:FHB) (the “Company”) announced today the pricing of a secondary offering of 25,000,000 shares of its common stock at a public offering price of $32.00 per share. The shares have been offered by an affiliate of BNP Paribas, the Company’s parent. The selling stockholder has also granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of the Company’s common stock at the public offering price less the underwriting discount. The Company will not receive any of the proceeds from the sale of the shares by the selling stockholder. The offering is expected to close on February 6, 2017, subject to customary closing conditions.

Goldman, Sachs & Co., BofA Merrill Lynch, J.P. Morgan and BNP Paribas are acting as joint book-running managers and underwriters for the offering.  Barclays, Citigroup, Credit Suisse and Deutsche Bank Securities are also acting as joint book-running managers and underwriters for the offering.  Keefe, Bruyette & Woods is acting as lead manager and underwriter for the offering.  

A registration statement relating to the Company’s common stock has been filed with, and declared effective by, the Securities and Exchange Commission. The offering has been made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471-2526 or by email at [email protected]; BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 282001, by email at [email protected]; J.P. Morgan, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 866-803-9204; and BNP PARIBAS, by phone at (888) 860-5378.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

First Hawaiian, Inc. 

First Hawaiian, Inc. (NASDAQ:FHB) is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii’s oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and merchant processing services.  Customers may also access their accounts through ATMs, online and mobile banking channels.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. For a discussion of some of the risks and important factors that could affect our future results and financial condition, see our SEC filings, including, but not limited to, the prospectus dated January 30, 2017 described in this press release.

Investor Relations Contact:

Kevin Haseyama, (808) 525-6268
[email protected]

Media Contact:

Susan Kam (808) 525-6254
[email protected]