Ronald K. Migita to Receive Highest Honor From Boy Scouts of America

Silver Buffalo Award awarded to only 10 Hawaii residents since 1930

HONOLULU, May 18 /PRNewswire-FirstCall/ -- Ronald K. Migita, chairman,
president and chief executive officer of Central Pacific Bank, will receive
the Silver Buffalo Award - the highest commendation of the Boy Scouts of
America - on Friday, May 22, 2009 at the National Council's Annual Meeting in
Orlando, Florida. Migita is the 10th Hawaii recipient of this honor, which is
bestowed upon individuals who have made valuable community contributions to
ensure experiences that teach sound character qualities are made available to
youth nationwide.

"Ron had dedicated his life to the Boy Scouts of America," said Jeff Woosley,
scout executive and chief executive officer of the Aloha Council, Boy Scouts
of America. "His tremendous support of scouting has enabled youth to learn
valuable lessons that shape strong character traits, leadership skills and
citizenship attributes that all parents want for their children."

The Silver Buffalo Award, created in 1925, is scouting's highest commendation
that recognizes an individual's noteworthy service to youth on national level.
The service can be directly connected with the Boy Scouts of America or
independent of the movement. The first Silver Buffalo Award was conferred upon
Lord Robert Baden-Powell, founder of the scouting movement and Chief Scout of
the World. Other award recipients have included aviator Charles A. Lindbergh;
artist Norman Rockwell, well-known for his many scouting paintings; General
Colin L. Powell; artist and film producer Walt Disney; Marian Anderson, first
African American singer to appear at the Metropolitan Opera and 14 presidents
of the United States.

"As a kid growing up on Maui, I gained valuable life experiences and fond
memories as both a Cub Scout and Boy Scout," said Migita. "My appreciation for
my early scouting experiences continues to inspire me to support the Boy
Scouts of America today and I am humbled to receive such recognition."

Migita has served as a scoutmaster, district chairman and council president as
well as a regional executive board member throughout the years. A member of
the National Executive Board since 2002, Migita currently serves on the
pension investment, finance and investment, human resources group, council
solutions group and audit committees. He also serves as chairman of the
program impact committee.

Having devoted his life to scouting, Migita has received the District Award of
Merit, the Asian American Spirit of Scouting Service Award, the Silver Beaver
Award, and was honored as Hawaii's Distinguished Citizen of the Year by the
Aloha Council, Boy Scouts of America in 2003.

With his dedication to the community focused on the areas of youth
development, public education and economic growth, Migita also currently
serves as a member of the University of Hawaii's Board of Regents, the
governing body of the University of Hawaii System. He is also a trustee for
the Public Schools of Hawaii Foundation, a board member of the Hawaii Business
Roundtable and president-elect of the Hawaii Bankers Association.

Migita served as president and chief executive officer of CB Bancshares, Inc.
whose principal subsidiary was City Bank. In 2004, Migita joined Central
Pacific Financial Corp., following the merger of Central Pacific Financial
Corp and CB Bancshares, Inc. and has served as chairman of the board.

In 2008, Migita was named president and chief executive officer of both
Central Pacific Financial Corp. and Central Pacific Bank, one of the largest
financial institutions in Hawaii with more than $5.4 billion in assets.

"Scouting has been very influential throughout my career as the instilled
values are tremendously important in the banking industry," said Migita.
"Scout Law says a scout is trustworthy, loyal, helpful and courteous--all key
qualities that we hold at the highest regard at Central Pacific Bank, where
our employees go beyond the sale of bank products, they work to provide
exceptional service and community support in their neighborhoods."

Migita earned his bachelor's degree in business administration from the
University of Hawaii at Manoa. He is also a graduate of the Pacific Coast
Banking School at the University of Washington and the University of
Hawaii Advanced Management Program.

He and his wife, Lella, have an Eagle Scout son, a daughter and one
grandchild.

In addition to Migita, the Silver Buffalo Awardees from Hawaii include James
A. Wilder, who was the first Hawaii resident to receive the honor in 1930,
followed by Wade W. Thayer (1948), Walter F. Dillingham (1956), Charles D.
Pratt Sr. (1959), Stephen A. Derby (1974), Dr. Katsumi Kometani (1978), James
F. Gary (1988), Siegfred Kagawa (1997) and C. Dudley Pratt Jr. (2000).

The Aloha Council, Boy Scouts of America is celebrating its 100th anniversary
in February 2010. Annually, the Aloha Council serves nearly 20,000 youth
members in 860 registered scouting units in Hawaii and islands throughout the
Pacific, with help from more than 5,400 dedicated adult volunteers involved in
all levels of its programs. The Boy Scouts of America promotes applying
discipline and perseverance to earn the coveted rank of Eagle Scout, giving
back to others through service projects and learning to lead other through a
process of fun and adventure.

SOURCE Central Pacific Bank

Shayna Coleon, Corporate Communications of Central Pacific Bank,
+1-808-544-0506, shayna.coleon@centralpacificbank.com; or Ron Foronda of Aloha
Council, Boy Scouts of America, +1-808-595-6366, ron.foronda@scouting.org