Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers

As part of a routine realignment of the management team of Central Pacific Financial Corp ("CPF) and Central Pacific Bank ("CPB"), Mr. Blenn A. Fujimoto, Executive Vice President, Small Business and Wealth Markets, will continue to serve in his current capacity and position with CPF and CPB but will no longer serve as executive officer effective January 26, 2021. This disclosure is required pursuant to Item 5.02(b).

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