Bank of Hawaii in Honolulu is getting out of the aircraft leasing business.
The $15.2 billion-asset company said in a regulatory filing Tuesday that it is in the process of disposing its six aircraft and an aircraft lease, shutting down a business it entered in the late 1980s.
Bank of Hawaii said that, after running certain accounting tests, it determined that the net realizable value of the aircraft had been impaired. As a result, the company will record an after-tax impairment charge of about $6 million in the third quarter.
