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Conference of Mayors’ 87th Annual Meeting in Honolulu, set for Friday through Monday, to let the mayors “experience first-hand how technology can unlock better access to social, economic and cultural opportunities.”. “In Kennedy traveled to Oahu to speak about civil rights to our nation’s mayors,” said Honolulu Mayor Kirk Caldwell. “I
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The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.
The Honolulu-based seller said it rejected a competing bid from an investor group and would stick with its plan to sell to Hope Bancorp for $78.6 million in stock.
The Los Angeles-based parent company of Bank of Hope expects to complete its acquisition of Honolulu-based Territorial in April. The $79 million deal faced challenges when an investor group made a competing bid.
The Honolulu-based seller, which plans a Nov. 6 shareholder vote on the deal, posted a third-quarter loss and reiterated its commitment to the Hope agreement. But an offer with a higher price from an investor group is also on the table.
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The Honolulu-based seller had faced pushback from an investor group that stepped in with a competing offer. But it ultimately secured enough votes to approve the sale to Hope Bancorp.
Honolulu-based Territorial Bancorp is delaying the approval vote by about four weeks in order to continue discussions with its shareholders. A group that includes a former Bank of Hawaii CEO is trying to scuttle the $78 million deal with Los Angeles-based Hope Bancorp.
The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that have made similar moves.
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