Central Pacific Financial (CPF) Announces $15M Equity Issuance Plan

Central Pacific Financial Corp. (NYSE: CPF) announced that it has commenced an equity issuance plan pursuant to which it may, from time to time, offer and sell up to $15 million of its common stock. Sales of the shares of common stock, if any, will be made by means of ordinary brokers' transactions on the New York Stock Exchange or otherwise at then prevailing market prices, prices related to prevailing market prices or negotiated prices. Central Pacific Financial intends to use the net proceeds from sales under this offering primarily to contribute equity capital to Central Pacific Bank, and may also use a portion of the net proceeds for working capital and other general corporate purposes.

Sandler O'Neill + Partners, L.P. and RBC Capital Markets Corporation will act as the Company's sales agents and/or principals for the offering.