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PART TWO OF FIVE: Pacific Century Financial Corporation Reports Second Quarter Earnings of $0.08 Per Share

BW0028 JUL 20,2000 2:26 PACIFIC 5:26 EASTERN

( BW)(HI-PACIFIC-CENTURY)(BOH) PART TWO OF FIVE: Pacific Century Financial Corporation Reports Second Quarter Earnings of $0.08 Per Share

Business Editors

PART TWO OF FIVE

        Pacific Century Financial Corporation and subsidiaries
           Consolidated Statements of Condition (Unaudited)

                               June 30     December 31      June 30
(in thousands of dollars)         2000            1999         1999

Assets

Interest-Bearing Deposits       $199,020      $278,473      $411,239
Investment Securities --
 Held to Maturity
 (Market Value of $721,617,
 $787,720 and $825,434,
 respectively)                   730,445       796,322       828,350
Investment Securities --
 Available for Sale            2,493,066     2,542,232     2,721,765
Securities Purchased Under
 Agreements to Resell                 --            --         4,325
Funds Sold                        50,646        52,740        34,995
Loans                         10,071,517     9,717,556     9,610,980
 Unearned Income                (327,520)     (242,503)     (219,717)
 Reserve for Loan Losses        (246,559)     (194,205)     (209,573)

  Net Loans                    9,497,438     9,280,848     9,181,690

  Total Earning Assets        12,970,615    12,950,615    13,182,364
Cash and Non-Interest
 Bearing Deposits                473,950       639,895       493,483
Premises and Equipment           259,037       271,728       288,955
Customers' Acceptance
 Liability                         9,406         7,236        14,802
Accrued Interest Receivable       75,883        78,974        79,384
Other Real Estate                  4,915         4,576         6,009
Intangibles, including
 Goodwill                        198,363       205,904       214,997
Other Assets                     302,456       281,387       271,464

 Total Assets                $14,294,625   $14,440,315   $14,551,458

Liabilities

Domestic Deposits
 Demand
  -- Non-Interest Bearing     $1,696,106    $1,676,425    $1,699,343
  -- Interest Bearing          2,091,074     2,076,358     2,176,931
 Savings                         684,572       700,720       725,010
 Time                          2,781,868     2,761,650     2,456,318
Foreign Deposits
 Demand -- Non-Interest
  Bearing                        378,497       401,613       442,102
 Time Due to Banks               442,678       597,675       632,626
 Other Savings and Time        1,034,351     1,179,777     1,153,825

   Total Deposits              9,109,146     9,394,218     9,286,155

Securities Sold Under
 Agreements to Repurchase      1,573,980     1,490,655     1,990,178
Funds Purchased                  663,234       839,962       715,398
Short-Term Borrowings            530,231       458,962       353,177
Bank's Acceptances
 Outstanding                       9,406         7,236        14,802
Accrued Retirement Expense        37,214        40,360        40,892
Accrued Interest Payable          64,579        64,588        49,376
Accrued Taxes Payable             83,343        85,022       123,720
Minority Interest                  4,350         4,435         4,374
Other Liabilities                107,569       114,890       104,325
Long-Term Debt                   902,174       727,657       654,847

 Total Liabilities            13,085,226    13,227,985    13,337,244

Shareholders' Equity
 Common Stock ($.01 par
  value), authorized
  500,000,000 shares;
  issued / outstanding;
  June 2000 -- 80,555,424 /
  79,399,919; December 1999
  -- 80,550,728 / 80,036,417;
  June 1999 -- 80,544,104 /
  80,287,805                         806           806           805
Capital Surplus                  346,018       345,851       345,468
Accumulated Other
 Comprehensive Income            (75,462)      (66,106)      (39,245)
Retained Earnings                959,041       942,177       912,686
Treasury Stock, at Cost --
 (June 2000 -- 1,155,505;
 December 1999 -- 514,311
 and June 1999 -- 256,299
 shares)                         (21,004)      (10,398)       (5,500)

 Total Shareholders' Equity    1,209,399     1,212,330     1,214,214

 Total Liabilities and
  Shareholders' Equity       $14,294,625   $14,440,315   $14,551,458


        Pacific Century Financial Corporation and subsidiaries
      Consolidated Statements of Shareholders' Equity (Unaudited)

                                                      Common   Capital
(in thousands of dollars)                      Total   Stock   Surplus

Balance at December 31, 1999              $1,212,330    $806  $345,851
Comprehensive Income
 Net Income                                   46,472      --        --
 Other Comprehensive Income, Net of Tax
  Investment Securities, Net of
   Reclassification Adjustment               (10,696)     --        --
  Foreign Currency Translation Adjustment      1,340      --        --

Common Stock Issued
 39,382 Profit Sharing Plan                      723      --        18
 140,260 Stock Option Plan                     2,018      --         3
 115,574 Dividend Reinvestment Plan            1,899      --        52
 4,696 Directors' Restricted Shares and
  Deferred Compensation Plan                      94      --        94
Treasury Stock Purchased                     (16,936)     --        --
Cash Dividends Paid                          (27,845)     --        --

Balance at June 30, 2000                  $1,209,399    $806  $346,018

Balance at December 31, 1998              $1,185,594    $805  $342,932
Comprehensive Income
 Net Income                                   73,879      --        --
 Other Comprehensive Income, Net of Tax
  Investment Securities, Net of
   Reclassification Adjustment               (16,470)     --        --
  Foreign Currency Translation Adjustment       (299)     --        --

Common Stock Issued
     81 Profit Sharing Plan                      370      --         3
 21,196 Stock Option Plan                      4,952      --     2,264
  4,276 Dividend Reinvestment Plan             2,335      --       136
 6,179 Directors' Restricted Shares and
  Deferred Compensation Plan                     133      --       133
Treasury Stock Purchased                      (8,944)     --        --
Cash Dividends Paid                          (27,336)     --        --

Balance at June 30, 1999                  $1,214,214    $805  $345,468

                     Accumulated
                           Other
(in thousands of   Comprehensive   Retained   Treasury  Comprehensive
 dollars)                 Income   Earnings      Stock         Income

Balance at
 December 31, 1999      ($66,106)  $942,177   ($10,398)
Comprehensive
 Income
 Net Income                   --     46,472         --        $46,472
 Other Comprehensive
  Income, Net of Tax
  Investment Securities,
   Net of
  Reclassification
  Adjustment             (10,696)        --         --        (10,696)
 Foreign Currency
  Translation
  Adjustment               1,340         --         --          1,340

 Total Comprehensive Income                                   $37,116

Common Stock
 Issued
 39,382 Profit
  Sharing Plan                --       (128)       833
 140,260 Stock
  Option Plan                 --     (1,019)     3,034
 115,574 Dividend
  Reinvestment
  Plan                        --       (616)     2,463
 4,696 Directors'
  Restricted
  Shares and
  Deferred
  Compensation
  Plan                        --         --         --
Treasury Stock
 Purchased                    --         --    (16,936)
Cash Dividends
 Paid                         --    (27,845)        --

Balance at
 June 30, 2000          ($75,462)  $959,041   ($21,004)

Balance at
 December 31, 1998      ($22,476)  $867,852    ($3,519)
Comprehensive
 Income
 Net Income                   --     73,879         --        $73,879
 Other
  Comprehensive
  Income, Net of
  Tax Investment
  Securities, Net of
  Reclassification
  Adjustment             (16,470)        --         --        (16,470)
 Foreign Currency
  Translation
  Adjustment                (299)        --         --           (299)

 Total Comprehensive Income                                   $57,110

Common Stock
 Issued
 81 Profit Sharing
  Plan                        --         (9)       376
 21,196 Stock
  Option Plan                 --     (1,653)     4,341
 4,276 Dividend
  Reinvestment
  Plan                        --        (47)     2,246
 6,179 Directors'
  Restricted Shares and
  Deferred Compensation
  Plan                        --          --         --
Treasury Stock
 Purchased                    --          --     (8,944)
Cash Dividends
 Paid                         --     (27,336)        --

Balance at
 June 30, 1999          ($39,245)   $912,686    ($5,500)

                          (END OF PART TWO)



    CONTACT: Pacific Century Financial Corporation
             Stafford Kiguchi, 808/537-8580 (Media Inquiries)
             Pager: 808 363-5383
             Sharlene Bliss, 808/537-8037 (Investor/Analyst Inquiries)