Bank of Hope FAQ
Questions about the Merger
| Question | Answer |
|---|---|
| Why did Territorial Savings Bank merge with Bank of Hope? | This transition allows Territorial customers to continue enjoying the same personalized service they have always known, while gaining access to a wider range of banking products, advanced digital tools, and the financial strength of Bank of Hope. We look forward to better serving our customers and communities in Hawaii, and to building on Territorial Savings Bank’s storied legacy in Hawaii for the next 100 years. |
| What happens now? | From the standpoint of our customers, things will remain largely unchanged, and you can expect to be greeted by the same people you have known and trusted at Territorial Savings Bank. Over time, we expect that additional products and services will be made available, thanks to the additional resources we will gain as a result of this combination. |
| What will happen with the FDIC insurance on my deposits? | Your deposits at Territorial Savings Bank continue to be insured by the FDIC up to the legal limits under Bank of Hope, the legal entity that is the member-FDIC institution. During the merger transition, the FDIC provides a grace period of six months for separate coverage on accounts held at both banks. |
| Will my primary branch be closed? Will my branch or the people who work there change? Will the branch hours change? | All Territorial Savings Bank branches will remain intact, but are now operated as Territorial Savings, a division of Bank of Hope. You can expect to be greeted by the same people you have known and trusted at Territorial Savings Bank. Any future changes to operating hours will be communicated to our customers well in advance. |
| Will I have access to the Bank of Hope branches and ATMs? | ATMs of Bank of Hope will be available to Territorial Saving customers for cash withdrawals and account balance inquiries without paying a foreign ATM fee. Full access to accounts at Bank of Hope branches will not be available to Territorial Savings customers until a future date, which will be communicated to our customers well in advance. A complete listing of Bank of Hope branch offices across the country is available at www.bankofhope.com. |
| Do I have to make any changes to my deposit accounts? | No. You are not required to make changes to your account. Any future changes in products or accounts will be communicated to our customers well in advance. As a division of Bank of Hope, all accounts and agreements previously held by Territorial Savings Bank are now under Bank of Hope. Your account terms remain unchanged, but any documents referencing Territorial Savings Bank are now governed by Bank of Hope as the legal entity. |
| Will the fees or rates on my accounts change because of the merger? | There are no immediate changes to accounts, rates or fees as a result of this business combination. As always, we will send communications well in advance of any changes. |
| Will my current Territorial Saving Bank checks and deposit slips continue to work? | You can continue to use your existing supply of checks and deposit slips. When you reorder checks, your new checks will be branded with the Territorial Savings, a division of Bank of Hope, logo. |
| Will my existing ATM/Debit card and PIN number continue to work? | Yes. You may continue to use your current ATM/debit card and PIN number. Upon the expiration of your existing ATM/debit card, your renewal ATM/debit card will be branded as Territorial Savings, a division of Bank of Hope. |
| Will my bank statement be sent on the same schedule as today? | Bank statements will remain on the same schedule. Any future changes in accounts, including your statement schedule, will be communicated to our customers well in advance. |
| Will I have to change my direct deposit? | No, you will not be required to make any changes to your direct deposit. |
| Will I have to get a new credit card? | No change is required, and you may continue to use your existing credit card. When your card is renewed upon expiration, your new credit card will be branded as Territorial Savings, a division of Bank of Hope. As a division of Bank of Hope, all credit card agreements previously held by Territorial Savings Bank are now under Bank of Hope. Your credit card terms remain unchanged, but any documents referencing Territorial Savings Bank are now governed by Bank of Hope as the legal entity. |
| Will my online and mobile banking platforms continue to work as usual? | Yes. You will continue to have access to Territorial’s online and mobile banking platforms, and your online bill payments will continue to work as they do today. Your login credentials, account details, and features remain unchanged as a result of this combination. Any future changes or actions required on your part will be communicated well in advance. |
| Where do I send my loan payments? | Mortgage loan customers of Territorial Savings Bank are being informed by a separate Notice of Servicing Transfer notifying them that Bank of Hope is the new servicer. You may send your loan payment(s) to the same address you are currently using, but payments made after April 2, 2025, should be made out to “Bank of Hope”. As a division of Bank of Hope, all agreements previously held by Territorial Savings Bank are now under Bank of Hope. Your loan terms remain unchanged, but any documents referencing Territorial Savings Bank are now governed by Bank of Hope as the legal entity. |
| Who should I contact if I have additional questions? | Please visit any of our branches, or you may call us at 808-946-1400 during our business hours with additional questions. |
General Notice
Territorial Savings Bank completed its merger with Bank of Hope effective April 2, 2025, and is now operated as “Territorial Savings, a division of Bank of Hope.” This means Bank of Hope is now the legal entity responsible for all accounts, agreements, services, and operations that were previously held by Territorial Savings Bank.
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