Former President and CEO Catherine Ngo steps down from Central Pacific Financial Corp. and Central Pacific Bank board of directors

Photo courtesy: Central Pacific Bank<_o3a_p>

HONOLULU, HI (Oct. 1, 2025) - Central Pacific Financial Corp. (NYSE: CPF) and its subsidiary, Central Pacific Bank (CPB), today announced that Catherine Ngo will step down from the Boards of Directors of both the Company and the Bank, effective October 1, 2025.<_o3a_p>

Ngo will continue in her role as President and Chair of the CPB Foundation.<_o3a_p>

Ngo joined the Board in 2015 and has held several leadership roles over the past decade, including Chair of the Company and the Bank (January 2023-June 2024), and previously as Executive Vice Chair, President, and CEO from 2015 to 2022.<_o3a_p>

During her time at CPB, Ngo was the driving force for the company, including these initiatives:<_o3a_p>

· Recapitalization and Recovery: Ngo played a vital role in the bank's recovery following the financial crisis, leading efforts that stabilized the organization and laid the groundwork for long-term growth.<_o3a_p>

· WE by Rising Tide: As a founding member of this program, she helped launch and was the lead architect of the important initiative focused on supporting women entrepreneurs across Hawaii.<_o3a_p>

· Support for Small Business: Ngo consistently emphasized the importance of local small businesses, advocating for dedicated programs and resources to assist them.<_o3a_p>

"Catherine has made important contributions to the bank over many years," said Arnold Martines, Chairman, President, and CEO of Central Pacific Bank. "We thank her for her strong leadership and look forward to her continued involvement with the CPB Foundation."<_o3a_p>

Ngo commented, "It has been a privilege to serve Central Pacific Bank and be part of its journey. I'm proud of what we've accomplished together and remain committed to supporting the community through the Foundation and other efforts."<_o3a_p>

Ngo remains active in the community and currently serves on the following boards and advisory councils:<_o3a_p>

· Boards of Directors: Hawaii Gas; Maui Land & Pineapple Company<_o3a_p>

· Boards of Trustees/Governors: The Queen's Health Systems; Hawaii Community Foundation<_o3a_p>

· Advisory Boards: Catholic Charities of Hawaii<_o3a_p>

· Federal Reserve Council: Member of the 12th District Community Depository Institutions Advisory Council (CDIAC) and the national CDIAC for the Federal Reserve Board in Washington, DC<_o3a_p>

Central Pacific Bank thanks Ngo for her years of service and leadership and looks forward to continuing to work with her in her Foundation role.<_o3a_p>

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About Central Pacific Financial Corp.<_o3a_p>

Central Pacific Financial Corp. is a Hawaii-based bank holding company with approximately $7.37 billion in assets as of June 30, 2025. Central Pacific Bank, its primary subsidiary, operates 27 branches and 55 ATMs in the State of Hawaii. Central Pacific Financial Corp. is traded on the New York Stock Exchange (NYSE) under the symbol "CPF." For additional information, please visit: cpb.bank<_o3a_p>