Central Pacific Bank Extends FDIC Transaction Account Guarantee Program
HONOLULU, April 16 /PRNewswire-FirstCall/ -- Central Pacific Financial Corp. (NYSE: CPF), parent company of Central Pacific Bank (CPB), announced today that it will continue to participate in the Federal Deposit Insurance Corporation (FDIC) Transaction Account Guarantee (TAG) program, which was recently extended by the FDIC to December 31, 2010. The TAG program provides customers of participating insured depository institutions with unlimited FDIC insurance coverage on deposit balances held in non-interest bearing checking accounts and qualifying interest bearing checking accounts. The program is designed to fully guarantee deposit balances in certain accounts above the maximum limits of the FDIC insurance coverage.
"Many individuals, businesses and organizations with high deposit balances can benefit from this program," said John C. Dean, Executive Chairman of the Board of CPF and CPB. "We want to provide our customers with the peace of mind that their entire deposit balance with our bank can be FDIC insured."
More information on the TAG program and FDIC insurance coverage can be accessed at the FDIC's website: www.fdic.gov, or at Central Pacific Bank's website: www.centralpacificbank.com.
About Central Pacific Financial Corp.
Central Pacific Financial Corp. is a Hawaii-based bank holding company with $4.9 billion in assets. Central Pacific Bank, its primary subsidiary, operates 37 branches and approximately 110 ATMs throughout the State of Hawaii. For additional information, please visit the Company's website at http://www.centralpacificbank.com.
SOURCE Central Pacific Financial Corp.
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