Central Pacific Bank is a regional commercial bank headquartered in Honolulu, Hawaii. It was founded by Koichi Iida, a Honolulu business leader, with assistance from Sumitomo Bank in Japan. Mr. Iida was President from 1954 to 1960. It is the main subsidiary of Central Pacific Financial Corporation (NYSE: CPF). The bank is the third-largest financial institution in Hawaii, with 39 branches throughout the state. Central Pacific Financial Corporation is a bank holding company based in Honolulu, Hawaii, whose primary subsidiary is Central Pacific Bank. In 2004, Central Pacific Financial Corporation acquired CB Bancshares, Inc. CB Bancshares' main subsidiary was City Bank of Honolulu and it traded on NASDAQ under CBBI ticker. Before the merger, Central Pacific was the third largest and CB Bancshares was the fourth largest bank holding company in Hawaii. The merger left Central Pacific as the third largest. The management of CB Bancshares opposed the acquisition.