HONOLULU (AP) — The Bank of Hawaii says it will close down its two branches in American Samoa early next year.
The bank says it has operated in American Samoa since 1969 and has 30 employees in the territory.
American Samoa Vice President and District Manager Hobbs Lowson said in a statement Friday the decision wasn’t made lightly.
He says it’s become increasingly difficult to deliver an appropriate level of service to American Samoa because of the territory’s geographic isolation from its other markets.
The company says it’s cooperating with the territorial government to provide for a smooth transition. The bank says customers will have ample time to transfer their accounts.
Employees will be paid severance benefits and offered opportunities to work at other bank locations outside American Samoa.