<SEC-DOCUMENT>0001193805-25-001231.txt : 20250822
<SEC-HEADER>0001193805-25-001231.hdr.sgml : 20250822
<ACCEPTANCE-DATETIME>20250822211255
ACCESSION NUMBER:		0001193805-25-001231
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250822
DATE AS OF CHANGE:		20250822

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL PACIFIC FINANCIAL CORP
		CENTRAL INDEX KEY:			0000701347
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				990212597
		STATE OF INCORPORATION:			HI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-38206
		FILM NUMBER:		251247757

	BUSINESS ADDRESS:	
		STREET 1:		220 S KING ST
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813
		BUSINESS PHONE:		8085440500

	MAIL ADDRESS:	
		STREET 1:		P O BOX 3590
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96811

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CPB INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HoldCo Asset Management, LP
		CENTRAL INDEX KEY:			0001724246
		ORGANIZATION NAME:           	
		EIN:				371746035
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D

	BUSINESS ADDRESS:	
		STREET 1:		515 E. LAS OLAS BLVD.
		STREET 2:		SUITE 1010
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301
		BUSINESS PHONE:		(954) 433-6853

	MAIL ADDRESS:	
		STREET 1:		515 E. LAS OLAS BLVD.
		STREET 2:		SUITE 1010
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HoldCo Asset Management, L.P.
		DATE OF NAME CHANGE:	20171204
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <securitiesClassTitle>Common Stock, No Par Value</securitiesClassTitle>
      <dateOfEvent>08/15/2025</dateOfEvent>
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      <issuerInfo>
        <issuerCIK>0000701347</issuerCIK>
        <issuerCUSIP>154760409</issuerCUSIP>
        <issuerName>CENTRAL PACIFIC FINANCIAL CORP</issuerName>
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          <com:street1>220 S KING ST</com:street1>
          <com:city>HONOLULU</com:city>
          <com:stateOrCountry>HI</com:stateOrCountry>
          <com:zipCode>96813</com:zipCode>
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          <personName>MEAGAN REDA, ESQ.</personName>
          <personPhoneNum>212-451-2300</personPhoneNum>
          <personAddress>
            <com:street1>OLSHAN FROME WOLOSKY LLP</com:street1>
            <com:street2>1325 Avenue of the Americas</com:street2>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10019</com:zipCode>
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          <personName>HOLDCO ASSET MANAGEMENT, LP</personName>
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            <com:street1>515 E. Las Olas Blvd., Suite 1010</com:street1>
            <com:street2>1325 Avenue of the Americas</com:street2>
            <com:city>Fort Lauderdale</com:city>
            <com:stateOrCountry>FL</com:stateOrCountry>
            <com:zipCode>33301</com:zipCode>
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    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0002006433</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>VM GP VII LLC</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
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        <soleDispositivePower>0.00</soleDispositivePower>
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        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0.3</percentOfClass>
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      <reportingPersonInfo>
        <reportingPersonCIK>0002005872</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>HoldCo Opportunities Fund V, L.P.</reportingPersonName>
        <fundType>WC</fundType>
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        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
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        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.4</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
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      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>VM GP X LLC</reportingPersonName>
        <fundType>OO</fundType>
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        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
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        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1459055.00</sharedDispositivePower>
        <aggregateAmountOwned>1459055.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.4</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001724246</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>HoldCo Asset Management, LP</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
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        <sharedDispositivePower>1459055.00</sharedDispositivePower>
        <aggregateAmountOwned>1459055.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.4</percentOfClass>
        <typeOfReportingPerson>IA</typeOfReportingPerson>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001844704</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>VM GP II LLC</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1459055.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1459055.00</sharedDispositivePower>
        <aggregateAmountOwned>1459055.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.4</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001861474</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Zaitzeff Michael</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1526651.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1526651.00</sharedDispositivePower>
        <aggregateAmountOwned>1526651.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.7</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Vikaran Ghei</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1526651.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1526651.00</sharedDispositivePower>
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        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.7</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, No Par Value</securityTitle>
        <issuerName>CENTRAL PACIFIC FINANCIAL CORP</issuerName>
        <issuerPrincipalAddress>
          <com:street1>220 S KING ST</com:street1>
          <com:city>HONOLULU</com:city>
          <com:stateOrCountry>HI</com:stateOrCountry>
          <com:zipCode>96813</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>The following constitutes the Schedule 13D filed by the undersigned (the "Schedule 13D").</commentText>
      </item1>
      <item2>
        <filingPersonName>This statement is filed by:

(i) VM GP VII LLC, a Delaware limited liability company ("VM GP VII"), with respect to the shares of Common Stock, No Par Value (the "Shares"), of Central Pacific Financial Corp. (the "Issuer"), directly and beneficially owned by it;

(ii) HoldCo Opportunities Fund V, L.P., a Delaware limited partnership ("Fund V"), with respect to the Shares directly and beneficially owned by it;

(iii) VM GP X LLC, a Delaware limited liability company ("VM GP X"), as the general partner of Fund V;

(iv) HoldCo Asset Management, LP, a Delaware limited partnership ("HoldCo"), as the investment manager of Fund V;

(v) VM GP II LLC, a Delaware limited liability company ("HoldCo GP"), as the general partner of HoldCo;

(vi) Michael Zaitzeff, as a Managing Member of each of VM GP VII, VM GP X and HoldCo GP; and

(vii) Vikaran Ghei, as a Managing Member of each of VM GP VII, VM GP X and HoldCo GP.

Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons." Each of the Reporting Persons is party to that certain Joint Filing Agreement, as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.</filingPersonName>
        <principalBusinessAddress>The address of the principal office of each of HoldCo, HoldCo GP, VM GP VII, Fund V, VM GP X, and Messrs. Zaitzeff and Ghei is c/o HoldCo Asset Management, LP, 515 East Las Olas Blvd., Suite 1010, Fort Lauderdale, Florida 33301.</principalBusinessAddress>
        <principalJob>The principal business of VM GP VII is serving as the general partner of HOF III Liquidating Partnership, LP. The principal business of Fund V is investing in securities. VM GP X serves as the general partner of Fund V. HoldCo is a registered investment adviser and serves as the investment manager of Fund V. HoldCo GP serves as the general partner of HoldCo. The principal occupation of each of Mr. Zaitzeff and Mr. Ghei is investment management. Messrs. Zaitzeff and Ghei serve as Managing Members of each of VM GP VII, VM GP X and HoldCo GP.</principalJob>
        <hasBeenConvicted>No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</hasBeenConvicted>
        <convictionDescription>No Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
        <citizenship>Messrs. Zaitzeff and Ghei are citizens of the United States of America.</citizenship>
      </item2>
      <item3>
        <fundsSource>The Shares held by VM GP VII were acquired through an in-kind distribution of carried interest in connection with the wind-down of a prior investment vehicle over which VM GP VII served as general partner. The aggregate purchase price of the Shares held by VM GP VIIis approximately $172,229, including brokerage commissions.

The Shares purchased by Fund V were purchased with working capital and may be held from time to time in margin accounts established with its brokers or banks. Securities positions held in such margin accounts, including the Shares, may be pledged as collateral security for the repayment of debit balances in such accounts. The aggregate purchase price of the 1,459,055 Shares beneficially owned by Fund V is approximately $39,976,531, including brokerage commissions.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

Certain Reporting Persons have engaged, and expect to continue to engage, with certain members of the Issuer's management team and Board of Directors (the "Board") regarding opportunities to enhance stockholder value.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons' investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer's financial and/or operational performance, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The percentages used in this Schedule 13D are based on 26,981,436 Shares outstanding as of July 31, 2025, which is the total number of Shares outstanding as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2025.

See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.</percentageOfClassSecurities>
        <numberOfShares>See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition.</numberOfShares>
        <transactionDesc>Information concerning transactions in the securities of the Issuer effected by certain of the Reporting Persons during the past sixty days is set forth in Exhibit 1 attached hereto and is incorporated herein by reference. Except as otherwise noted, all of the transactions in the securities of the Issuer listed therein were effected in the open market through various brokerage entities.</transactionDesc>
        <listOfShareholders>No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>On August 22, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>1 - Transactions in the Securities.

99.1 - Joint Filing Agreement, dated August 22, 2025.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>VM GP VII LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Zaitzeff</signature>
          <title>Michael Zaitzeff, Authorized Signatory</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>HoldCo Opportunities Fund V, L.P.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Zaitzeff</signature>
          <title>Michael Zaitzeff, Authorized Signatory</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>VM GP X LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Zaitzeff</signature>
          <title>Michael Zaitzeff, Authorized Signatory</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>HoldCo Asset Management, LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Zaitzeff</signature>
          <title>Michael Zaitzeff, Authorized Signatory</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>VM GP II LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Zaitzeff</signature>
          <title>Michael Zaitzeff, Authorized Signatory</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Zaitzeff Michael</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Zaitzeff</signature>
          <title>Michael Zaitzeff</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Vikaran Ghei</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Vikaran Ghei</signature>
          <title>Vikaran Ghei</title>
          <date>08/22/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

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<TYPE>EX-1
<SEQUENCE>2
<FILENAME>ex1to13d12910013_082225.htm
<DESCRIPTION>TRANSACTIONS IN SECURITIES
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Transactions in the Securities of the
Issuer During the Past Sixty Days</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">Nature of the Transaction</TD>
    <TD STYLE="vertical-align: top; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Amount of Securities</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Purchased</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Price ($)</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Purchase</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>HOLDCO OPPORTUNITIES FUND V, L.P.</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">54,000</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">27.4417</TD>
    <TD STYLE="white-space: nowrap; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/24/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">60,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">27.2200</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/25/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">47,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">27.6000</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/26/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">95,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">27.8000</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/27/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">70,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.0300</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/30/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">31,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.8000</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">07/01/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">29,899</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">27.3196</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">07/29/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">33,622</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">26.8661</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">07/30/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">31,704</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">26.6563</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">07/31/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">33,255</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">26.1475</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/01/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">26,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.7800</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/13/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">34,700</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.6420</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/14/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">33,200</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.0788</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/15/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">33,127</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.3103</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/18/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">31,400</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.5475</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/19/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">32,400</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">28.5830</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/20/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">42,000</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">29.3527</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/21/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">36,714</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">30.7107</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">08/22/2025</TD></TR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex991to13d12910013_082225.htm
<DESCRIPTION>JOINT FILING AGREEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 99.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Joint Filing Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including
additional amendments thereto) with respect to the shares of Common Stock, No Par Value, of Central Pacific Financial Corp., a Hawaii
corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1.45pt; padding-left: 1.45pt">VM GP VII LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt; font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Michael Zaitzeff</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1.45pt; padding-left: 1.45pt">Michael Zaitzeff, Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">HoldCo Opportunities Fund V, L.P.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Michael Zaitzeff</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Michael Zaitzeff, Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">VM GP X LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Michael Zaitzeff</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Michael Zaitzeff, Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">HoldCo Asset Management, LP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Michael Zaitzeff</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Michael Zaitzeff, Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">VM GP II LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Michael Zaitzeff</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Michael Zaitzeff, Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Zaitzeff Michael</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Michael Zaitzeff</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Michael Zaitzeff</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Vikaran Ghei</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 1.45pt; padding-left: 1.45pt">By:</TD>
    <TD STYLE="width: 45%; padding-right: 1.45pt; padding-left: 1.45pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Vikaran Ghei</P></TD>
    <TD STYLE="width: 50%; padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Vikaran Ghei</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.45pt; padding-left: 1.45pt">Date:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.45pt; padding-left: 1.45pt">08/22/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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