10 Dec 2013

Bank of Hawaii to stay longer in American Samoa

5:31 pm on 10 December 2013

The Bank of Hawaii is delaying its closure in American Samoa in response to a plea by the Governor Lolo Matalasi Moliga.

The Bank, which has been in the territory for more than 40 years, closed its small Tafuna branch earlier this year and extended the close of the Utulei branch to March next year.

But the CEO Peter Ho says the Utulei branch will stay open beyond that until a suitable replacement can be found.

Mr Ho says it's evident that additional time would be beneficial for the local community and the bank's commitment is to provide a smooth transition for its customers and the American Samoa government.

He says they won't pull out until they're satisfied that the banking needs of the territory can be accommodated.

The American Samoa government has started transferring its bank accounts to the Utah-based Zions Bank, which will be handling the government's payroll services.