SCHEDULE: HoldCo Asset Management Boosts Stake in Central Pacific Financial

HoldCo Asset Management and its affiliates have increased their beneficial ownership in Central Pacific Financial Corp to 7.0% through recent open market purchases.

Summary

• HoldCo Asset Management, along with its affiliates Michael Zaitzeff and Vikaran Ghei, now beneficially own 1,877,951 shares of Central Pacific Financial Corp.
• This represents 7.0% of the Issuer's common stock, based on 26,981,436 shares outstanding as of July 31, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed on August 5, 2025.
• HoldCo Opportunities Fund V, L.P. (Fund V) acquired 1,810,355 shares for an aggregate purchase price of approximately $50,943,796, funded by working capital and potentially held in margin accounts.
• VM GP VII LLC acquired 67,596 shares for an aggregate purchase price of approximately $172,229 through an in-kind distribution from the wind-down of a prior investment vehicle.
• Fund V made multiple open market purchases of common stock between August 25, 2025, and September 8, 2025, totaling 331,300 shares at prices ranging from $30.9038 to $31.4959.

Sentiment

Score: 7

Explanation: The increased stake by an institutional investor group, particularly through open market purchases, generally signals confidence in the company's prospects or valuation, which is a positive indicator. However, the filing itself does not contain performance metrics or strategic plans from the issuer.

Positives

• Increased stake by an institutional investor group, potentially signaling confidence in the company's valuation or future prospects.
• Significant investment of approximately $50.9 million by HoldCo Opportunities Fund V, L.P. through open market purchases.

Risks

• Securities positions held by HoldCo Opportunities Fund V, L.P. in margin accounts, including the Issuer's shares, may be pledged as collateral security for the repayment of debit balances in such accounts, posing a risk to the reporting person's investment.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from the issuer or reporting persons regarding the issuer's future performance or strategic direction.

Industry Context

The filing indicates an increased stake by an institutional investor group in a financial institution (bank). This could suggest the investor sees value in the banking sector or this specific regional bank, potentially anticipating strategic changes or improved performance.

Comparison to Industry Standards

• The filing primarily details an ownership change and does not provide sufficient information to compare Central Pacific Financial Corp's performance or valuation against specific industry benchmarks or comparable companies.

Stakeholder Impact

• Shareholders: Increased institutional ownership could be seen positively, potentially leading to more active oversight or strategic initiatives.
• Management: May face increased scrutiny or engagement from the significant shareholder group.

Next Steps

• No explicit next steps are mentioned for the issuer. The reporting persons may continue to monitor their investment or engage with management.

Key Dates

Recommendation

The filing indicates a significant increase in beneficial ownership by an institutional investor group, suggesting confidence in Central Pacific Financial Corp. While this is a positive signal, the filing itself does not provide new financial performance data or strategic initiatives from the company to warrant a 'buy' recommendation. Investors should 'hold' and monitor for further developments, such as potential engagement between the investor group and management, or future financial results that could justify a stronger position.

Keywords

Central Pacific Financial Corp, CPFC, HoldCo Asset Management, Schedule 13D/A, Beneficial Ownership, Institutional Investor, Stock Purchase, Financial Services, Banking, Hawaii