Central Pacific Bank collected $7,886.72 in coins during its Change for Charity campaign that was launched to help address a coin shortage in the financial services industry, while also raising money for Hawai‘i Foodbank to help fight hunger.

The CPB Foundation also contributed an additional $5,000 to bring the grand total donated to $12,886.72.

“We are truly grateful for the incredible response from the public and we send a huge mahalo to everyone who brought their coins into a Central Pacific Bank branch,” said CPB Retail Markets and Operations Executive Vice President Kisan Jo. “Instead of sitting in a jar doing nothing, those coins are now back in use and also helping put food on the table for those in need.”

CPB and Hawai‘i Foodbank executives met Monday for the check presentation at CPB’s main branch in Downtown Honolulu.

“We are tremendously grateful to Central Pacific Bank, CPB Foundation and the public for this wonderful support,” Hawai‘i Foodbank President and CEO Amy Marvin said. “It is amazing to see the power of community pulling together. With this generous donation, we’ll be able to provide food for more than 27,000 meals to those in our community who are facing hunger.”

Matson adds 3M shares to repurchase plan

Matson Inc., the state’s largest ocean transportation company, said Tuesday that its board has approved adding 3 million shares, or about 8% of outstanding common shares, to the existing 6 million-share repurchase program.

As of Monday, the existing share repurchase program had approximately 500,000 shares remaining.

“Since we commenced our share repurchase program last August, we have repurchased approximately 5.5 million shares for a total cost of nearly $465 million.,” Matson Chairman and CEO Matt Cox said. “Going forward, we will be both disciplined and opportunistic in our capital allocation, and we remain committed to returning excess cash to shareholders to create additional shareholder value over the long term.”

Shares will be repurchased in the open market from time to time at the company’s discretion, based on ongoing assessments of the capital needs of the business, the market price of its common shares and general market conditions.