XML 49 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Dec. 31, 2021
USD ($)
shares
Dec. 31, 2020
USD ($)
shares
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
 
 
 
 
PAY VERSUS PERFORMANCE (PVP)
 
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between compensation actually paid to our Principal Executive Officer (PEO), and other Named Executive Officers (NEOs) and certain financial performance metrics of the Company using a methodology that has been prescribed by the SEC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal
 Year
 
 
Summary
Compensation
Table Total
for PEO
 
 
Compensation
Actually Paid
to PEO
 
 
Average
Summary
Compensation
Table Total
for non-PEO
NEOs
 
 
Average
Compensation
Actually Paid
to non-PEO
NEOs
 
 
Value of Initial Fixed $100
Investment Based on:
 
 
 
 
 
Company
Selected
Measure
 
 
Total
Shareholder
Return
 
 
Peer Group
Total
Shareholder
Return
 
 
Net Income
($ in
millions)
 
 
Return
on
Equity
 
(a)
 
 
(b)
 
 
(c)
 
 
(d)
 
 
(e)
 
 
(f)
 
 
(g)
 
 
(h)
 
 
(i)
 
2024
 
 
$2,106,033
 
 
$2,659,093
 
 
$821,723
 
 
$1,022,289
 
 
$124.21
 
 
$123.92
 
 
$53.4
 
 
10.3%
 
2023
 
 
$1,737,311
 
 
$1,585,929
 
 
$721,171
 
 
$671,461
 
 
$80.37
 
 
$108.10
 
 
$58.7
 
 
12.4%
 
2022
 
 
$2,777,600
 
 
$1,397,507
 
 
$1,443,519
 
 
$1,007,177
 
 
$78.12
 
 
$109.98
 
 
$73.9
 
 
15.5%
 
2021
 
 
$3,488,108
 
 
$4,857,872
 
 
$1,441,406
 
 
$1,660,091
 
 
$103.81
 
 
$119.38
 
 
$79.9
 
 
14.4%
 
2020
 
 
$1,434,001
 
 
$368,190
 
 
$944,698
 
 
$586,033
 
 
$67.51
 
 
$87.95
 
 
$37.3
 
 
6.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following amounts were deducted from / added to Summary Compensation Table (SCT) total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid (CAP) to our principal executive officer (PEO) and average CAP to our non-PEO NEOs. The fair value of stock awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.
PEO SCT Total to CAP Reconciliation for 2024
 
 
 
 
 
Fiscal Year
 
 
2024
 
SCT Total
 
 
$2,106,033
 
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
 
 
($776,694)
 
+ Fair Value at Fiscal Year-End of Outstanding Unvested Stock Awards Granted in Fiscal Year
 
 
$1,008,090
 
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
 
 
$310,186
 
±
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
 
 
$11,478
 
Compensation Actually Paid
 
 
$2,659,093
 
 
 
 
 
 
Non-PEO NEO Average SCT Total to Average CAP Reconciliation for 2024
 
 
 
 
 
Fiscal Year
 
 
2024
 
Average SCT Total
 
 
$821,723
 
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
 
 
($238,643)
 
+ Fair Value at Fiscal Year-End of Outstanding Unvested Stock Awards Granted in Fiscal Year
 
 
$309,736
 
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
 
 
$125,267
 
±
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
 
 
$4,205
 
Average Compensation Actually Paid
 
 
$1,022,289
 
 
 
 
 
 
1.
No Option Awards were granted or outstanding during any of such Fiscal Years.
2.
The PEO reflected in columns (b) and (c) are the following individuals: Paul K. Yonamine (2020-2022) and Arnold D. Martines (2023-2024).
3.
The non-PEO named executive officers reflected in columns (d) and (e) include the following individuals: A. Catherine Ngo (2020-2022), Arnold D. Martines (2020-2022), Kevin Dahlstrom (2020-2021), David S. Morimoto (2020-2024), Anna M. Hu (2023-2024), Kisan Jo (2023-2024), and Diane W. Murakami (2023-2024).
4.
The Peer Group for which Total Shareholder Return is provided in column (g) is the S&P Small Cap 600 Commercial Bank Index.
       
Company Selected Measure Name Return on Equity        
Named Executive Officers, Footnote
2.
The PEO reflected in columns (b) and (c) are the following individuals: Paul K. Yonamine (2020-2022) and Arnold D. Martines (2023-2024).
3.
The non-PEO named executive officers reflected in columns (d) and (e) include the following individuals: A. Catherine Ngo (2020-2022), Arnold D. Martines (2020-2022), Kevin Dahlstrom (2020-2021), David S. Morimoto (2020-2024), Anna M. Hu (2023-2024), Kisan Jo (2023-2024), and Diane W. Murakami (2023-2024).
       
Peer Group Issuers, Footnote
4.
The Peer Group for which Total Shareholder Return is provided in column (g) is the S&P Small Cap 600 Commercial Bank Index.
       
PEO Total Compensation Amount $ 2,106,033 $ 1,737,311 $ 2,777,600 $ 3,488,108 $ 1,434,001
PEO Actually Paid Compensation Amount $ 2,659,093 1,585,929 1,397,507 4,857,872 368,190
Adjustment To PEO Compensation, Footnote
The following amounts were deducted from / added to Summary Compensation Table (SCT) total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid (CAP) to our principal executive officer (PEO) and average CAP to our non-PEO NEOs. The fair value of stock awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.
PEO SCT Total to CAP Reconciliation for 2024
 
 
 
 
 
Fiscal Year
 
 
2024
 
SCT Total
 
 
$2,106,033
 
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
 
 
($776,694)
 
+ Fair Value at Fiscal Year-End of Outstanding Unvested Stock Awards Granted in Fiscal Year
 
 
$1,008,090
 
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
 
 
$310,186
 
±
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
 
 
$11,478
 
Compensation Actually Paid
 
 
$2,659,093
 
 
 
 
 
 
        
Non-PEO NEO Average Total Compensation Amount $ 821,723 721,171 1,443,519 1,441,406 944,698
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,022,289 671,461 1,007,177 1,660,091 586,033
Adjustment to Non-PEO NEO Compensation Footnote
The following amounts were deducted from / added to Summary Compensation Table (SCT) total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid (CAP) to our principal executive officer (PEO) and average CAP to our non-PEO NEOs. The fair value of stock awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.
Non-PEO NEO Average SCT Total to Average CAP Reconciliation for 2024
 
 
 
 
 
Fiscal Year
 
 
2024
 
Average SCT Total
 
 
$821,723
 
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year
 
 
($238,643)
 
+ Fair Value at Fiscal Year-End of Outstanding Unvested Stock Awards Granted in Fiscal Year
 
 
$309,736
 
± Change in Fair Value of Outstanding Unvested Stock Awards Granted in Prior Fiscal Years
 
 
$125,267
 
±
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
 
 
$4,205
 
Average Compensation Actually Paid
 
 
$1,022,289
 
 
 
 
 
 
        
Compensation Actually Paid vs. Total Shareholder Return
The chart below illustrates the relationship between the PEO and other NEOs’ CAP amounts and the Company’s TSR during the period 2020-2024. This relationship reflects the Company’s use of equity incentives, which are tied directly to stock price, in addition to the Company’s financial performance.
        
Compensation Actually Paid vs. Net Income
The charts below illustrate the relationship between the PEO and other NEOs’ CAP amounts and the Company’s Net Income and Return on Equity during the period 2020-2024. This relationship reflects the Company’s use of short- and long-term incentive plan measures which reflect the financial performance of the Company, as well as the impact of financial performance on the value of stock-based compensation awarded to the PEO and other NEOs.
        
Compensation Actually Paid vs. Company Selected Measure
The charts below illustrate the relationship between the PEO and other NEOs’ CAP amounts and the Company’s Net Income and Return on Equity during the period 2020-2024. This relationship reflects the Company’s use of short- and long-term incentive plan measures which reflect the financial performance of the Company, as well as the impact of financial performance on the value of stock-based compensation awarded to the PEO and other NEOs.
        
Total Shareholder Return Vs Peer Group
Chart of Company TSR Versus Peer Group TSR
The chart below compares the cumulative total stockholder return on the Company's common stock, based on the market price of the common stock and assuming reinvestment of dividends, with the Standard and Poor's (“S&P”) SmallCap 600 Commercial Bank Index for the period commencing December 31, 2019 and ending December 31, 2024. The graph assumes the investment of $100 on December 31, 2019.
        
Tabular List, Table
Most Important Performance Measures
The five items listed below represent the most important performance metrics we used to relate CAP for FY2024 to the Company’s financial performance as further described in our Compensation Discussion and Analysis (CD&A) within the sections titled “Annual Incentive Compensation” and “Long-Term Incentives.”
 
Most Important Performance Measures
• Net Income
• Efficiency Ratio
• Return on Assets
• Return on Equity
• Relative Total Shareholder Return
 
        
Total Shareholder Return Amount $ 124.21 80.37 78.12 103.81 67.51
Peer Group Total Shareholder Return Amount 123.92 108.1 109.98 119.38 87.95
Net Income (Loss) $ 53,400,000 $ 58,700,000 $ 73,900,000 $ 79,900,000 $ 37,300,000
Company Selected Measure Amount 0.103 0.124 0.155 0.144 0.069
PEO Name Arnold D. Martines Arnold D. Martines Paul K. Yonamine Paul K. Yonamine Paul K. Yonamine
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | shares 0 0 0 0 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | shares 0 0 0 0 0
Measure:: 1          
Pay vs Performance Disclosure          
Name Net Income        
Measure:: 2          
Pay vs Performance Disclosure          
Name Efficiency Ratio        
Measure:: 3          
Pay vs Performance Disclosure          
Name Return on Assets        
Measure:: 4          
Pay vs Performance Disclosure          
Name Return on Equity        
Measure:: 5          
Pay vs Performance Disclosure          
Compensation Actually Paid vs. Other Measure
The chart below illustrates the relationship between the PEO and other NEOs’ SCT Total Compensation, total shareholder return, and CAP amounts during the period 2020-2024. This relationship reflects the impact of changes in the Company’s stock price on the amount of Compensation Actually Paid in each year in relation to the amount reported in the Summary Compensation Table and demonstrates the impact of stock price performance on compensation of the PEO and other NEOs.
Note: the 2022 TSR percentage change figure presented in the above charts was incorrectly stated in last year’s disclosures; corrected figures are presented above.
        
Name Relative Total Shareholder Return        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (776,694)        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,008,090        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 310,186        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 11,478        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (238,643)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 309,736        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 125,267        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 4,205