Central Pacific Financial Appoints Dr. Diane Paloma to Board of Directors for Community Engagement

Central Pacific Financial Corp. Welcomes Dr. Diane Paloma to Board of Directors

Central Pacific Financial Corp. (CPF), the parent organization of Central Pacific Bank, announces the appointment of Dr. Diane Paloma to its Board of Directors, effective January 28, 2025. This strategic decision, revealed by CEO Arnold Martines, aims to leverage Dr. Paloma's extensive expertise in healthcare and community engagement to enhance the bank's customer-focused services. Currently serving as the President and CEO of Hawaii Dental Service, Dr. Paloma brings a wealth of experience from her prior leadership roles at notable organizations such as King Lunalilo Trust and Queen’s Health Systems. Martines expresses confidence that Dr. Paloma’s diverse background will provide valuable insights that align with CPF's commitment to serving the Hawaiian community.

Dr. Paloma's academic credentials bolster her impressive professional portfolio. A graduate of Kamehameha Schools, she holds a Bachelor of Science in Physiological Science from UCLA, an MBA from the University of Hawaii at Manoa, and a PhD in Healthcare Administration from Capella University. Beyond her corporate roles, she is actively involved in community service, holding positions such as a member of the University of Hawaii Board of Regents and director of several organizations, including the Partners in Development Foundation. Her recognition as a Woman of Distinction by the Girl Scouts of Hawaii and an Outstanding Mother Award from the American Lung Association underscores her commitment to both professional excellence and community service.

The addition of Dr. Paloma to the board reflects CPF's strategic direction towards strengthening its community ties and improving customer service. With approximately $7.42 billion in assets as of September 30, 2024, and 27 branches across Hawaii, Central Pacific Bank is positioned to benefit from Dr. Paloma's insights and leadership experience. The board anticipates that her participation will enhance discussions on community engagement and customer service strategies, reinforcing the bank's mission to serve the needs of its clients and the wider Hawaiian community effectively.

In related news, Central Pacific Financial Corp. reports a net income of $11.3 million for the fourth quarter of 2024, which marks a decline from previous quarters. Despite this, the bank's net interest income has seen a significant rise, showcasing a 3.6% increase from the prior quarter. The bank continues to focus on enhancing its service offerings and maintaining a strong presence in Hawaii. As CPF prepares for 2025, the leadership is optimistic about leveraging recent achievements while navigating challenges in the banking landscape.