Delaware		99-0148992
(State of incorporation)		(IRS Employer Identification No.)
130 Merchant Street, Honolulu, Hawaii		96813
(Address of principal executive offices)		(Zip Code)

Part I. — Financial Information
Item  1.		Financial Statements (Unaudited)
		Consolidated Statements of Income—Three months and Nine months ended September 30, 2002 and 2001
		Consolidated Statements of Condition—September 30, 2002, December 31, 2001, and September 30, 2001
		Consolidated Statements of Shareholders’ Equity—Nine months ended September 30, 2002 and 2001
		Consolidated Statements of Cash Flows—Nine months ended September 30, 2002 and 2001
		Notes to Consolidated Financial Statements
Item 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 3.		Quantitative and Qualitative Disclosure of Market Risk
Item 4.		Controls and Procedures
Part II. — Other Information
Item 6.		Exhibits and Reports on Form 8-K
Signatures
Certifications

		Three Months Ended September 30						Nine Months Ended September 30
(dollars in thousands except per share amounts)		2002			2001			2002			2001
Interest Income
Interest and Fees on Loan and Leases		$	89,335		$	143,205		$	280,421		$	495,732
Income on Investment Securities—Held to Maturity			4,847			8,007			14,939			27,120
Income on Investment Securities—Available for Sale			25,291			31,390			78,886			107,982
Deposits			5,384			9,413			16,442			19,738
Funds Sold and Security Resale Agreements			914			1,781			2,669			4,231
Other			1,575			1,384			4,302			3,948
Total Interest Income			127,346			195,180			397,659			658,751
Interest Expense
Deposits			20,547			50,145			66,691			182,147
Security Repurchase Agreements			7,039			17,576			25,588			63,049
Funds Purchased			299			1,279			775			9,735
Short-Term Borrowings			334			2,019			1,272			8,013
Long-Term Debt			6,946			12,459			23,320			42,232
Total Interest Expense			35,165			83,478			117,646			305,176
Net Interest Income			92,181			111,702			280,013			353,575
Provision for Loan and Lease Losses			—			919			11,616			59,798
Net Interest Income After Provision for Loan and Lease Losses			92,181			110,783			268,397			293,777
Non-Interest Income
Trust and Asset Management			13,655			13,999			42,648			45,041
Mortgage Banking			4,037			10,411			15,300			20,192
Service Charges on Deposit Accounts			7,925			9,592			24,291			29,409
Fees, Exchange, and Other Service Charges			13,114			17,587			38,631			60,837
Gain on Sales of Banking Operations, Net of Venture Investment Losses			—			47,771			—			144,680
Investment Securities Gains			—			935			3			32,914
Other			9,517			13,060			30,311			38,720
Total Non-Interest Income			48,248			113,355			151,184			371,793
Non-Interest Expense
Salaries			38,837			50,341			117,437			149,791
Pensions and Other Employee Benefits			7,377			9,646			26,764			34,070
Net Occupancy Expense			9,597			11,422			28,511			35,447
Net Equipment Expense			10,058			12,443			30,176			38,929
Goodwill Amortization			—			3,333			—			10,916
Restructuring and Other Related Costs			—			2,986			1,979			86,329
Information Technology Systems Replacement Project			6,576			—			6,576			—
Other			20,509			32,397			64,297			100,727
Total Non-Interest Expense			92,954			122,568			275,740			456,209
Income Before Income Taxes			47,475			101,570			143,841			209,361
Provision for Income Taxes			17,275			70,511			51,569			117,886
Net Income		$	30,200		$	31,059		$	92,272		$	91,475
Basic Earnings Per Share		$	0.44		$	0.39		$	1.30		$	1.14
Diluted Earnings Per Share		$	0.43		$	0.37		$	1.26		$	1.11
Dividends Declared Per Share		$	0.19		$	0.18		$	0.55		$	0.54
Basic Weighted Average Shares			67,893,086			80,539,330			71,148,663			80,261,610
Diluted Weighted Average Shares			69,910,264			83,418,955			73,158,354			82,497,107

		September 30				December 31				September 30
(dollars in thousands)		2002				2001				2001
Assets
Interest-Bearing Deposits		$	1,019,823			$	1,101,974			$	1,227,095
Investment Securities—Held to Maturity     (Market Value of $286,526, $407,838, and $471,579, respectively)			277,856				396,216				460,461
Investment Securities—Available for Sale			2,241,106				2,001,420				2,064,141
Securities Purchased Under Agreements to Resell			—				—				7,639
Funds Sold			95,000				115,000				162,830
Loans Held for Sale			30,863				456,709				228,056
Loans			5,258,675				5,652,518				6,766,063
Allowance for Loan and Lease Losses			(154,475	)			(158,979	)			(182,541	)
Net Loans			5,104,200				5,493,539				6,583,522
Total Earning Assets			8,768,848				9,564,858				10,733,744
Cash and Non-Interest Bearing Deposits			328,135				405,981				426,884
Premises and Equipment			182,230				196,171				223,528
Customers’ Acceptance Liability			1,106				593				1,310
Accrued Interest Receivable			38,839				42,687				55,968
Foreclosed Real Estate			17,568				17,174				37,240
Mortgage Servicing Rights			29,911				27,291				23,899
Goodwill			36,216				36,216				67,617
Other Assets			299,190				336,826				373,949
Total Assets		$	9,702,043			$	10,627,797			$	11,944,139
Liabilities
Domestic Deposits
Demand—Non-Interest Bearing		$	1,593,137			$	1,548,322			$	1,428,454
—Interest Bearing			2,063,426				1,926,018				1,792,155
Savings			1,382,719				967,825				813,427
Time			1,549,693				1,927,778				2,186,849
Foreign Deposits
Demand—Non-Interest Bearing			—				2				321,706
Time Due to Banks			4,387				230,247				30,357
Other Savings and Time			33,681				73,404				826,789
Total Deposits			6,627,043				6,673,596				7,399,737
Securities Sold Under Agreements to Repurchase			1,089,287				1,643,444				1,833,091