UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report
(Date of earliest event reported)          APRIL 25, 2001
--------------

PACIFIC CENTURY FINANCIAL CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)

DELAWARE                    1-6887                 99-0148992
------------------------         ------------          -------------------
(State of incorporation)         (Commission           (IRS Employer
File Number)          Identification No.)

130 MERCHANT STREET, HONOLULU, HAWAII              96813
---------------------------------------           ----------
(Address of principal executive offices)          (Zip Code)

(Registrant's telephone number,
including area code)               (808) 537-8430
--------------

-1-

Item 5.     Other Events

(a)  Exhibit 99.1

Press Release: Bank of Queensland

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, 
the Registrant had duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.

Date: April 25, 2001                   PACIFIC CENTURY FINANCIAL
CORPORATION

/s/ Richard J. Dahl
-------------------------
(Signature)

Richard J. Dahl
President

EXHIBIT 99.1

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

PACIFIC CENTURY FINANCIAL CORPORATION

EXHIBIT TO CURRENT REPORT ON
FORM 8-K DATED APRIL 25, 2001

Commission File Number 1-6887

[PACIFIC CENTURY FINANCIAL CORPORATION LETTERHEAD]

FOR IMMEDIATE RELEASE

PACIFIC CENTURY FINANCIAL CORPORATION
SELLING SHARES IN BANK OF QUEENSLAND

HONOLULU, HI (April 25, 2001) - Pacific Century Financial Corporation
(PCFC) today announced it has sold its 5.4 million convertible notes back to the
Bank of Queensland. The notes were originally purchased in April 1998. In
addition, Bank of Hawaii has entered into an agreement to sell all of its 6.2
million shares of Bank of Queensland common stock to a private Australian
investor.

The decision to sell reflects PCFC's recent announcement of its new
Strategic Plan, which will focus activities on its core markets in Hawaii, the
West Pacific, American Samoa and Japan.

Richard Dahl, PCFC President, said, "This action conforms to our
strategic intentions and we intend to redeploy the capital realized from this
transaction toward meeting other key objectives."

Pacific Century Financial Corporation is a regional financial services
holding company with locations throughout the Pacific region. Pacific Century
and its subsidiaries provide varied financial services to businesses,
governments and consumers in four principal markets: Hawaii and the West
Pacific, South Pacific, Asia and selected markets on the U.S. Mainland. Pacific
Century's principal subsidiary, Bank of Hawaii, is the largest commercial bank
in the state of Hawaii.

###