<SUBMISSION>
<ACCESSION-NUMBER>0000950134-07-023848
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20071031
<ITEMS>5.03
<ITEMS>9.01
<FILING-DATE>20071114
<DATE-OF-FILING-DATE-CHANGE>20071113
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CENTRAL PACIFIC FINANCIAL CORP
<CIK>0000701347
<ASSIGNED-SIC>6022
<IRS-NUMBER>990212597
<STATE-OF-INCORPORATION>HI
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-31567
<FILM-NUMBER>071240031
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>220 S KING ST
<CITY>HONOLULU
<STATE>HI
<ZIP>96813
<PHONE>8085440500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>P O BOX 3590
<CITY>HONOLULU
<STATE>HI
<ZIP>96811
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CPB INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a35713e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>e8vk</TITLE>
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<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of report (Date of earliest event reported):<BR>
October&nbsp;31, 2007</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Central Pacific Financial Corp.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Hawaii</B><BR>
(State or other jurisdiction<BR>of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>001-31567</B><BR>
(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>99-0212597</B><BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
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<TR><TD>&nbsp;</TD></TR>
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<TR valign="bottom">
    <TD colspan="3" align="center" valign="top"><B>220 South King Street, Honolulu, Hawaii</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>96813</B><BR>
(Zip Code)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(808)&nbsp;544-0500</B><BR>
(Registrant&#146;s telephone number, including area code)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Item&nbsp;5.03.</B></U> <U><B>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year</B></U><B>.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">On October&nbsp;31, 2007, the Board of Directors of Central Pacific Financial Corp. (the &#147;Company&#148;)
took action to amend the Bylaws of the Company to reduce the number of Class&nbsp;II directors from
five to four effective as of the 2008 Annual Meeting of Stockholders of the Company. Thus, as
of the 2008 Annual Meeting, the Board of Directors of the Company will be reduced from fifteen
to fourteen, with four Class&nbsp;II directors standing for election at the 2008 Annual Meeting of
Stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Item&nbsp;9.01.</B></U> <U><B>Financial Statements and Exhibits</B></U><B>.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The following Exhibits are filed herewith:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="88%">
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<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment of Bylaws adopted October&nbsp;31, 2007</TD>
</TR>
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</TABLE>
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>SIGNATURES</B></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Central Pacific Financial Corp. <BR>
(Registrant) <BR>&nbsp;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:  November 13, 2007&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ CLINT ARNOLDUS
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Clint Arnoldus                              &nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEX TO EXHIBITS FILED WITH</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE CURRENT REPORT ON FORM 8-K DATED OCTOBER 31, 2007</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment of Bylaws adopted October&nbsp;31, 2007</TD>
</TR>
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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->
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<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>2
<FILENAME>a35713exv3w2.htm
<DESCRIPTION>EXHIBIT 3.2
<TEXT>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;3.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Central Pacific Financial Corp.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Board of Directors</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Resolution</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Amendment of Bylaws</B></DIV>


<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">Whereas, Central Pacific Financial Corp. (the &#147;<U>Corporation</U>&#148;) currently has
a Board of Directors (&#147;<U>Board</U>&#148;) consisting of fifteen (15)&nbsp;members, with
three classes consisting of five (5)&nbsp;members each.
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">Whereas, the Corporation desires to reduce the number of members of the Board in
order to increase efficiency and reduce costs in a manner which they believe is in
the best interest of the Corporation.
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">Whereas, the Board desires to amend the Bylaws of the Corporation (the
&#147;<U>Bylaws</U>&#148;) in order to reduce the number of members of the Board to
fourteen (14)&nbsp;with the class of Class&nbsp;II Directors whose terms expire at the
annual meeting in 2008 to be reduced from five (5)&nbsp;to four (4)&nbsp;members with the
proviso that the amendment of the Bylaws shall become effective at the expiration
of the term of the existing Class&nbsp;II Directors on the date of the 2008 annual
meeting of the Corporation&#146;s stockholders.
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">Now Therefore, Be It Resolved, that the Corporation&#146;s Bylaws shall be amended as
follows, such amendment to be effective as of the date set forth hereinbelow:
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">The current first paragraph of Section&nbsp;1 of Article&nbsp;III of the Bylaws of the
Corporation (as set forth below), shall be <U><B>deleted from</B></U> the Bylaws:
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 10%; margin-right:10%; font-size: 10pt">&#147;The business of the Corporation shall be managed by a Board of
Directors which shall be fifteen (15)&nbsp;in number. The directors
shall be divided into three classes, designated Class&nbsp;I, Class&nbsp;II
and Class&nbsp;III, with the terms of office of one class expiring each
year. Each Class shall consist of five directors. The term of the
initial Class&nbsp;I directors shall terminate on the date of the 2007
Annual Meeting; the term of the initial Class&nbsp;II directors shall
terminate on the date of the 2005 Annual Meeting; and the term of
the initial Class&nbsp;III directors shall terminate on the date of the
2006 Annual Meeting or, in each case, upon such director&#146;s earlier
death, resignation or removal. At each succeeding Annual Meeting
of Stockholders beginning in 2005, successors to the class of
directors whose term expires at that Annual Meeting shall be
elected for a three-year term and hold office until their
successors are duly elected and qualified.&#148;
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">The following revised first paragraph of Section&nbsp;1 of Article&nbsp;III of the Bylaws of
the Corporation (as set forth below), shall <U><B>replace in its entirety</B></U> the
prior first paragraph of Section&nbsp;1 of Article&nbsp;III of the Bylaws:
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 10%; margin-right:10%; font-size: 10pt">&#147;The business of the Corporation shall be managed by a Board of
Directors which shall be fourteen (14)&nbsp;in number. The directors
shall be divided into three classes, designated Class&nbsp;I, Class&nbsp;II
and Class&nbsp;III, with the terms of office of one class expiring each
year. Class&nbsp;I and III shall consist of five directors. Class&nbsp;II
shall consist of four directors. The term of the initial Class&nbsp;I
directors shall terminate on the date of the 2007 Annual Meeting;
the term of the initial Class&nbsp;II directors shall terminate on the
date of the 2005 Annual Meeting; and the term of the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="margin-top: 6pt; margin-left: 10%; margin-right:10%; font-size: 10pt">initial Class&nbsp;III directors shall terminate on the date of the
2006 Annual Meeting or, in each case, upon such director&#146;s earlier
death, resignation or removal. At each succeeding Annual Meeting
of Stockholders beginning in 2005, successors to the class of
directors whose term expires at that Annual Meeting shall be
elected for a three-year term and hold office until their
successors are duly elected and qualified.&#148;
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">Resolved Further, that this amendment to the Bylaws of the Corporation shall
become effective at the expiration of the term of the existing Class&nbsp;II Directors
on the date of the 2008 Annual Meeting of the Corporation&#146;s Stockholders.
</DIV>

<DIV align="left" style="margin-top: 6pt; margin-left: 5%; margin-right:5%; font-size: 10pt">Resolved Further, that the officers of the Corporation shall be and they hereby
are authorized, empowered and directed to do all such things and acts and to make,
execute, deliver and file all such instruments and documents on behalf of the
Corporation as may be necessary and by them deemed appropriate to implement the
foregoing resolutions, and all acts of the officers of the Corporation which are
consistent with the purpose and intent of these resolutions shall be and the same
hereby are in all respects ratified, approved and confirmed.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Certification by Corporate Secretary
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">I hereby certify that I am the duly elected, qualified and acting Corporate Secretary of Central
Pacific Financial Corp. (the &#147;<U>Corporation</U>&#148;), a Hawaii corporation, and as such, do hereby
certify that the following resolution regarding &#147;Amendment of Bylaws&#148; (the &#147;<U>Resolution</U>&#148;)
was duly adopted by the Board of Directors of the Corporation (the &#147;<U>Board</U>&#148;) on October&nbsp;31,
2007, at a validly and duly called and held meeting at which a quorum was present throughout, and
pursuant to the Board&#146;s proper power and authority, and do hereby further certify that the
Resolution is a complete, correct and accurate copy of the Resolution as presented before and
adopted by the Board, and do hereby further certify that the Resolution is in full force and effect
and has not been modified, amended, terminated or rescinded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In Witness Whereof, I have hereunto signed below and affixed the corporate seal of the Corporation
on October&nbsp;31, 2007.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">                                              /s/ Glenn K.C. Ching
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Glenn K.C. Ching&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Corporate Secretary<BR>

Central Pacific Financial Corp.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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