Central Pacific Finl Announces $100M Sh Offering

Central Pacific Financial Corp. (NYSE: CPF - News), parent company of Central Pacific Bank, announced that it has commenced a public offering of its common stock to raise gross proceeds of up to $100.0 million in an underwritten public offering through Sandler O'Neill + Partners, L.P. The Company plans to use the net proceeds from this offering to further strengthen its capital position and for general corporate purposes. The Company intends to grant the underwriters a 30 day option to purchase shares, representing gross proceeds of up to an additional $15.0 million, to cover over-allotments, if any.