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Business briefs for January 10

Toyota seeks student artwork for contest

Toyota Hawaii is inviting all Hawaii student artists age 15 years and younger to create a drawing of “Your Dream Car” for Toyota’s Seventh Dream Car Art Contest.

Hand-drawn entries must be submitted by Feb. 25 to any Toyota dealer in the state or mailed to Toyota Dream Car Art Contest, P.O. Box 2788, Honolulu, HI 96803-2788. Entry forms can be found online at www.toyotahawaii.com, as well as at all Toyota Hawaii dealerships.

All eligible artwork will be automatically entered into the People’s Choice Competition. Family, friends, and fans of the Toyota Hawaii Facebook page will have the opportunity to vote for their favorite entries beginning Jan. 15. The artwork with the most votes in each category at the end of the competition will be automatically entered for final judging in the local competition.

In March, the judging panel will select the artwork of nine local finalists to submit to the World Contest. One winner from each age group will receive an iPad Mini and the other two finalists in each category will each receive $150 cash. If any of the Hawaii entries receive merits in the World Contest, those students will enjoy an all-expenses-paid trip to Japan to participate in the final awards ceremony in August.

Bank of Hawaii ranked among top U.S. banks

For the fourth year in a row, Forbes Magazine has named Bank of Hawaii as one of the top banks in the country. Bank of Hawaii is the only Hawaii bank to be included in the top five in each of the four years that Forbes has been compiling the ranking.

Bank of Hawaii was named No. 2 among the 100 largest U.S. banks and thrifts for the second straight year; it topped the Forbes’ list in 2010 and 2009. The 2012 rankings were published in its Dec. 18 online edition.

Peter Ho, Bank of Hawaii chairman, president and CEO, said, “Being named among the top performing banks for all four years that Forbes has been conducting this ranking is a great testament to our employees and customers. I want to thank them for a great 2012, and we look forward to delivering continued value to each of our key stakeholder groups again in 2013.”

To determine the ranking, Forbes partnered with SNL Financial and evaluated U.S. owned banks and thrift institutions based on eight different financial performance measures, which included:

— return on average equity

— net interest margin

— non-performing loans as a percentage of loans

— non-performing assets as percentage of assets

— reserves as a percentage of non-performing loans

— two capital ratios (Tier 1 and risk-based)

— leverage ratio.


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