Central Pacific Bank said it is increasing its starting pay rate for the second time this year and raising it to $16 an hour from $15.25 an hour effective Saturday. In addition, the pay scale for progressive positions will be adjusted accordingly.

The bank previously boosted its starting pay to $15.25 an hour from $12 an hour on Jan. 1.

“CPB regularly reviews its pay and overall compensation philosophy,” President and CEO Catherine Ngo said. “We are always looking for opportunities to support our employees, our most valuable asset.”

On Nov. 16 American Savings Bank also increased its starting pay to $16 an hour from $15.25 an hour — likewise its second increase this year.

In addition, Central Pacific has signed on as a $10,000 signature sponsor of the #SHOPSMALLHAWAII initiative and presented a check to The Patsy T. Mink Center for Business & Leadership (MCBL), a program of YWCA Oahu. MCBL has been spearheading the #SHOPSMALLHAWAII campaign, collaborating with community partners, island vendors and the U.S. Small Business Administration. #SHOPSMALLHAWAII is a growing local hub of business experts and seasoned entrepreneurs offering business resources, tools, educational workshops, special events and promotions.