FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report Pursuant to Section 13
of the Securities Exchange Act of 1934
Date of Report (Date Earliest Event reported)- July 11, 1996
Commission File Number 2-67419
CB BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Hawaii 99-0197163
(State of Incorporation) (IRS Employer Identification No.)
201 Merchant Street, Honolulu, Hawaii 96813
(Address of principal executive offices)
(808) 546-2411
(Registrant's Telephone Number)
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ITEM 5. Other events
Refer to attachments I.
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Attachment I.
FOR IMMEDIATE RELEASE
Contact: Wayne Miyao
Senior Vice President
City Bank
(808) 546-8484
(Honolulu, HI)--CB Bancshares, Inc. (NASDAQ: CBBI), the state's third-largest
bank holding company, announced today that it has positioned key executives to
further emphasize its move to secure a bigger share of a housing market that
has revitalized after a prolonged slump. CBBI Chairman and Chief Executive
Officer James M. Morita said that Ronald K. Migita has assumed the additional
responsibilities of president of International Savings and Loan (ISL), a
primary operating subsidiary of CBBI. Migita already serves as president and
chief operating officer of CBBI, whose other primary operating subsidiary is
City Bank.
Morita said that the personnel change "signals our commitment to International
Savings and Loan and its long-time leadership in meeting the needs of the
residential mortgage market."
Morita said CBBI is working with ISL "to strengthen its mortgage lending
operations at a time when the market is witnessing a revival in consumer
confidence and a surplus of a housing inventory.
Morita said to further emphasize this commitment, he has also positioned
another key executive, Richard C. Lim, to take control as president of ISL
Capital Corporation. Morita said Lim "will supervise the push to strengthen
our emphasis on the solicitation of residential mortgage loans from developers,
realtors, and individuals throughout the state of Hawaii."
CBBI is a bank-holding company incorporated in the state of Hawaii in 1980,
with assets totaling $1.4 billion.
