<HTML>
<HEAD>
<TITLE> Prepared by MERRILL CORPORATION
</TITLE>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#01MOC1516_1">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<P ALIGN="CENTER"><FONT SIZE=2><B>As filed with the Securities and Exchange Commission on May&nbsp;17, 2001  </B></FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2><B> Registration No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>

<HR NOSHADE>
<HR NOSHADE>
<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=5><B>FORM S-8<BR>  </B></FONT><FONT SIZE=2><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=5><B>PACIFIC CENTURY FINANCIAL CORPORATION<BR>  </B></FONT><FONT SIZE=2>(Exact name of Issuer as specified in its charter) </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2><B>Delaware</B></FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2><B>99-0148992</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2>(State of Incorporation)</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2>(IRS Employer Identification No.)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="33%" ALIGN="CENTER"><BR><FONT SIZE=2><B>130 Merchant Street</B></FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2><B>Honolulu, Hawaii</B></FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT SIZE=2><B>96813</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>(Address of Principal<BR>
Executive Offices)</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>(Zip Code)</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->
<P ALIGN="CENTER"><FONT SIZE=2><B>PACIFIC CENTURY FINANCIAL CORPORATION STOCK OPTION PLAN OF 1994,<BR>
AS AMENDED<BR>  </B></FONT><FONT SIZE=2>(Full title of the plan) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Joseph T. Kiefer, Esq.<BR>
Pacific Century Financial Corporation<BR>
P. O. Box 2900<BR>
Honolulu, Hawaii 96846<BR>  </B></FONT><FONT SIZE=2>(Name and address of agent for service) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>(808)&nbsp;537-8879<BR>  </B></FONT><FONT SIZE=2>(Telephone number, including area code, or agent for service) </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2>Copy
to:<BR></FONT> <FONT SIZE=2><B>J. Thomas Van Winkle, Esq.<BR>
Carlsmith Ball LLP<BR>
Pacific Tower<BR>
1001 Bishop Street, Suite 2200<BR>
Honolulu, Hawaii 96813<BR>
(808)&nbsp;523-2500  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2><B> Calculation of Registration Fee  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=9 VALIGN="BOTTOM"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Title of each class of securities to be registered</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Amount to be registered</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Proposed maximum offering price per unit</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Proposed maximum aggregate offering price</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Amount of registration fee</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 VALIGN="BOTTOM"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%"><FONT SIZE=2>Common stock, par value $.01 per share</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>5,000,000(1)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>$23.52(2)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="CENTER"><FONT SIZE=2>$117,600,000(2)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>$29,400</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 VALIGN="BOTTOM"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>This
Registration Statement covers an additional 5,000,000 of the maximum 14,650,000 shares of common stock, par value $0.01 per share ("Common Stock") authorized to be issued under
the Pacific Century Corporation Stock Compensation Plan of 1994 (the "Plan"). Pursuant to Rule&nbsp;416, this registration statement also covers an additional and indeterminate number of shares of
Common Stock that may be issued pursuant to the anti-dilution provisions of the Plan.
<BR><BR></FONT></DD><DT><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Estimated
pursuant to Rule&nbsp;457(c) and (h)&nbsp;solely for the purposes of calculating the amount of the registration fee. The proposed maximum offering price per share of
$23.52 was based on the average of the high and low price per share of the Common Stock on May&nbsp;11, 2001, as reported by the New York Stock Exchange composite tape. </FONT></DD></DL>
<BR>
<HR NOSHADE>
<HR NOSHADE>
<HR NOSHADE>
<!-- ZEQ.=1,SEQ=1,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=591220,FOLIO='blank',FILE='DISK023:[01MOC6.01MOC1516]BA1516A.;11',USER='JHILL',CD='17-MAY-2001;13:12' -->
<!-- Generated by Merrill Corporation (www.merrillcorp.com) -->

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to General Instruction E to Form&nbsp;S-8, Pacific Century Financial Corporation (the "Company") is registering 5,000,000 additional shares of common stock, par
value $.01 per share (the "Common Stock"), authorized to be issued under the Pacific Century Financial Corporation Stock Option Plan of 1994, as amended (formerly the Bancorp Hawaii,&nbsp;Inc. Stock
Option Plan of 1994) (the "Plan"). The Company's predecessor, Bancorp Hawaii,&nbsp;Inc., filed a Registration Statement on Form&nbsp;S-8 (File No.&nbsp;33-54777) on
July&nbsp;28, 1994 relating to 1,875,000 shares of Common Stock (subsequently split 2 for 1, for a total of 3,750,000 shares of Common Stock) authorized to be issued under the Plan, which was
adopted by the Company in Post-Effective No.&nbsp;1 thereto filed on June&nbsp;23, 1998 (collectively, the "First Registration Statement"). The Company filed an second Registration
Statement on Form&nbsp;S-8 (File No.&nbsp;333-80127) relating to an additional 5,900,000 shares of Common Stock authorized to be issued under the Plan (the "Second
Registration Statement"). The contents of the First and Second Registration Statements are incorporated by reference into this Registration Statement. </FONT></P>

<HR NOSHADE>
<!-- ZEQ.=1,SEQ=2,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=415335,FOLIO='blank',FILE='DISK023:[01MOC6.01MOC1516]BC1516A.;4',USER='RFARRIN',CD='16-MAY-2001;23:35' -->
<!-- Generated by Merrill Corporation (www.merrillcorp.com) -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_ja1516_1_1"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ja1516_part_ii"> </A>
<A NAME="toc_ja1516_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART II    <BR>  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ja1516_information_not_required_in_the_prospectus"> </A>
<A NAME="toc_ja1516_2"> </A></FONT> <FONT SIZE=2><B>INFORMATION NOT REQUIRED IN THE PROSPECTUS    <BR>  </B></FONT></P>

<P><FONT SIZE=2><B>Item 6. Indemnification of Directors and Officers.  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the Delaware General Corporation Law (the "DGCL") authorizes a Delaware corporation to indemnify its directors, officers,
employees and agents against certain liabilities and expenses they may incur in such capacities, and provides that such persons have a right to indemnification against expenses where they have been
successful on the merits or otherwise in defense of certain types of actions or any claim, issue or matter therein. The indemnification provided by Section&nbsp;145 is not exclusive of any other
indemnification rights that may exist under any bylaw, agreement, vote of shareholders or disinterested directors, or otherwise. Article&nbsp;VI of the registrant's bylaws require that the
registrant indemnify and hold harmless, to the fullest extent permitted by applicable law (including circumstances in which indemnification is otherwise discretionary) any person who was or is made or
is threatened to be made a party to or is otherwise involved in any action, suit or proceeding by reason of the fact that such person is or was a director or officer of the registrant or is or was
serving at its request as a director, officer, employee or agent of another corporation or of a partnership, joint venture, trust, enterprise or nonprofit entity (including service with respect to
employee benefit plans) against all liability and loss suffered and expenses (including attorneys' fees) reasonably incurred by such person. In addition, the registrant maintains insurance under which
its directors, officers and employees and agents are insured against certain liabilities. Also, the registrant's Certificate of Incorporation includes provisions which eliminate the personal liability
of registrant's directors for monetary damages resulting from breaches of their fiduciary duty of care, provided that such provision does not eliminate liability for breaches of the duty of loyalty,
acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, violations of Sections 174 of the DGCL (concerning the willful or negligent violation of
statutory provisions precluding payment of certain dividends and certain stock purchases or redemptions) or for any other transactions from which the director derived an improper personal benefit. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>II&#150;1</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=1,SEQ=3,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=688066,FOLIO='II-1',FILE='DISK023:[01MOC6.01MOC1516]JA1516A.;8',USER='RFARRIN',CD='16-MAY-2001;23:35' -->
<A NAME="page_ja1516_1_2"> </A>

<P><FONT SIZE=2><B>Item 8. Exhibits.  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="8%" ALIGN="LEFT"><FONT SIZE=1><B>Exhibit No.<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="89%" ALIGN="CENTER"><FONT SIZE=1><B>Description</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Pacific Century Financial Corporation Stock Option Plan of 1994 (the "Plan") (incorporated by reference from Exhibit 4(a) to the registrant's Registration Statement on Form S-8, Reg. No. 33-54777, filed July 28,
1994)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 97-1 to the Plan (incorporated by reference from Exhibit 10.13 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1998, filed March 1, 1999 (the "1998 10-K"))</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.3</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 97-2 to the Plan (incorporated by reference from Appendix A to the registrant's Proxy Statement for its 1998 Annual Meeting of Shareholders, filed March 10, 1998)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.4</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 99-1 to the Plan (incorporated by reference from Exhibit 10.10 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2000, filed March 8, 2001 (the "2000 10-K"))</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.5</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 99-2 to the Plan (incorporated by reference from Exhibit 10.15 to the 1998 10-K)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.6</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2000-1 to the Plan (incorporated by reference from Exhibit 10.12 to the 2000 10-K)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.7</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2000-2 to the Plan (incorporated by reference from Exhibit 10.13 to the 2000 10-K)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.8</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2000-3 to the Plan (incorporated by reference from Exhibit 10.14 to the 2000 10-K)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.9</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2001-1 to the Plan</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4.10</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2001-2 to the Plan</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>5.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Opinion of Carlsmith Ball LLP with respect to legality</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>23.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Consent of Carlsmith Ball LLP (included as part of Exhibit 5.1)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>23.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Consent of Ernst &amp; Young LLP</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>24.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Power of Attorney (included on pages II-3 - II-4)</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2>II&#150;2</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=2,SEQ=4,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=636848,FOLIO='II-2',FILE='DISK023:[01MOC6.01MOC1516]JA1516A.;8',USER='RFARRIN',CD='16-MAY-2001;23:35' -->
<!-- Generated by Merrill Corporation (www.merrillcorp.com) -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_jc1516_1_3"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jc1516_signatures"> </A>
<A NAME="toc_jc1516_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form&nbsp;S-8 and has duly caused this registration statement or amendment thereto to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Honolulu, State of Hawaii, on the 17th day of May, 2001. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>Pacific Century Financial Corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/ MICHAEL E. O'NEILL</FONT><HR NOSHADE><FONT SIZE=2> Michael E. O'Neill<BR></FONT> <FONT SIZE=2><I>Chairman of the Board and Chief Executive Officer</I></FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In
accordance with the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form&nbsp;S-8 has been signed by the following persons in
the capacities and on the dates stated. Each person whose signature appears below hereby constitutes and appoints each of Michael E. O'Neill, Richard J. Dahl and Neal C. Hocklander as such person's
true and lawful attorney-in-fact and agent with full power of substitution for such person and in such person's name, place and stead, in any and all capacities, to sign and to
file with the Securities and Exchange Commission, any and all amendments and post-effective amendments to this registration statement, with exhibits thereto and other documents in
connection therewith, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and
agent, or any substitute therefor, may lawfully do or cause to be done by virtue thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form&nbsp;S-8 has been signed below by the following persons on
the dates indicated. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="82%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="44%" ALIGN="CENTER"><FONT SIZE=1><B>Signature</B></FONT><HR NOSHADE></TH>
<TH WIDTH="5%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="25%" ALIGN="CENTER"><FONT SIZE=1><B>Title</B></FONT><HR NOSHADE></TH>
<TH WIDTH="9%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER"><FONT SIZE=1><B>Date</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>/s/ PETER D. BALDWIN</FONT><HR NOSHADE><FONT SIZE=2> Peter D. Baldwin</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
<BR></FONT>
<HR NOSHADE><FONT SIZE=2> Mary G. Bitterman</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ CLINTON R. CHURCHILL</FONT><HR NOSHADE><FONT SIZE=2> Clinton R. Churchill</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="44%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/ RICHARD J. DAHL</FONT><HR NOSHADE><FONT SIZE=2> Richard J. Dahl</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT SIZE=2><BR>
President and Director</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
</TABLE>
<!-- insert table folio -->
<P ALIGN="CENTER"><FONT SIZE=2>II&#150;3</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=1,SEQ=5,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=250533,FOLIO='II-3',FILE='DISK023:[01MOC6.01MOC1516]JC1516A.;8',USER='JHILL',CD='17-MAY-2001;13:14' -->
<A NAME="page_jc1516_1_4"> </A>
<!-- end of table folio -->
<TABLE WIDTH="82%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ DAVID A. HEENAN</FONT><HR NOSHADE><FONT SIZE=2> David A. Heenan</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ ROBERT A. HURET</FONT><HR NOSHADE><FONT SIZE=2> Robert A. Huret</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="44%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/ MICHAEL E. O'NEILL</FONT><HR NOSHADE><FONT SIZE=2> Michael E. O'Neill</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT SIZE=2><BR>
Chairman of the Board, Chief Executive Officer and Director</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><BR><HR NOSHADE><FONT SIZE=2> Martin A. Stein</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ STANLEY S. TAKAHASHI</FONT><HR NOSHADE><FONT SIZE=2> Stanley S. Takahashi</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="44%" ALIGN="CENTER" VALIGN="TOP"><BR><HR NOSHADE><FONT SIZE=2> Donald M. Takaki</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="44%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/ ALLAN R. LANDON</FONT><HR NOSHADE><FONT SIZE=2> Allan R. Landon</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT SIZE=2><BR>
Vice Chairman, Treasurer and Chief Financial Officer</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="44%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/ LESLIE F. PASKETT</FONT><HR NOSHADE><FONT SIZE=2> Leslie F. Paskett</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT SIZE=2><BR>
Senior Vice President and Controller (Chief Accounting Officer)</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER"><FONT SIZE=2><BR>
May 17, 2001</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2>II&#150;4</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=2,SEQ=6,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=978279,FOLIO='II-4',FILE='DISK023:[01MOC6.01MOC1516]JC1516A.;8',USER='JHILL',CD='17-MAY-2001;13:14' -->
<!-- Generated by Merrill Corporation (www.merrillcorp.com) -->
<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="kc1516_exhibit_index"> </A>
<A NAME="toc_kc1516_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT INDEX    <BR>  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="76%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="9%" ALIGN="LEFT"><FONT SIZE=1><B>Exhibit No.<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="89%" ALIGN="CENTER"><FONT SIZE=1><B>Description</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Pacific Century Financial Corporation Stock Option Plan of 1994 (the "Plan") (incorporated by reference from Exhibit 4(a) to the registrant's Registration Statement on Form S-8, Reg. No. 33-54777, filed July 28,
1994)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 97-1 to the Plan (incorporated by reference from Exhibit 10.13 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1998, filed March 1, 1999 (the "1998 10-K"))</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.3</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 97-2 to the Plan (incorporated by reference from Appendix A to the registrant's Proxy Statement for its 1998 Annual Meeting of Shareholders, filed March 10, 1998)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.4</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 99-1 to the Plan (incorporated by reference from Exhibit 10.10 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2000, filed March 8, 2001 (the "2000 10-K"))</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.5</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 99-2 to the Plan (incorporated by reference from Exhibit 10.15 to the 1998 10-K)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.6</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2000-1 to the Plan (incorporated by reference from Exhibit 10.12 to the 2000 10-K)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.7</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2000-2 to the Plan (incorporated by reference from Exhibit 10.13 to the 2000 10-K)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.8</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2000-3 to the Plan (incorporated by reference from Exhibit 10.14 to the 2000 10-K)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.9</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2001-1 to the Plan</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>4.10</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Amendment 2001-2 to the Plan</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>5.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Opinion of Carlsmith Ball LLP with respect to legality</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>23.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Consent of Carlsmith Ball LLP (included as part of Exhibit 5.1)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>23.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Consent of Ernst &amp; Young LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>24.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Power of Attorney (included on pages II-3 - II-4)</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<!-- ZEQ.=1,SEQ=7,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1",CHK=575365,FOLIO='blank',FILE='DISK023:[01MOC6.01MOC1516]KC1516A.;9',USER='RFARRIN',CD='16-MAY-2001;23:35' -->
<!-- Generated by Merrill Corporation (www.merrillcorp.com) -->
<BR>
<P><br><A NAME="01MOC1516_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ja1516_1">PART II</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1516_2">INFORMATION NOT REQUIRED IN THE PROSPECTUS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_jc1516_1">SIGNATURES</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_kc1516_1">EXHIBIT INDEX</A></FONT><BR>
<!-- SEQ=,FILE='QUICKLINK',USER=JHILL,SEQ=,EFW="2049904",CP="PACIFIC CENTURY FINANCIAL CORP",DN="1" -->
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "a2049904zs-8.htm", "description": "FORM S-8", "secsgml_size_bytes": 31028}]
{"company-data": {"conformed-name": "PACIFIC CENTURY FINANCIAL CORP", "cik": "0000046195", "assigned-sic": "6022", "irs-number": "990148992", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-61134", "film-number": "1642578"}, "business-address": {"street1": "130 MERCHANT ST", "city": "HONOLULU", "state": "HI", "zip": "96813-", "phone": "8886433888"}, "mail-address": {"street1": "PO BOX 2900", "city": "HONOLULU", "state": "HI", "zip": "96846"}, "former-company": [{"former-conformed-name": "BANCORP HAWAII INC", "date-changed": "19920703"}, {"former-conformed-name": "HAWAII BANCORPORATION INC", "date-changed": "19800128"}]}
Prepared by MERRILL CORPORATION
QuickLinks
-- Click here to rapidly navigate through this document
As filed with the Securities and Exchange Commission on May 17, 2001
Registration No.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PACIFIC CENTURY FINANCIAL CORPORATION
(Exact name of Issuer as specified in its charter)
Delaware
99-0148992
(State of Incorporation)
(IRS Employer Identification No.)
130 Merchant Street
Honolulu, Hawaii
96813
(Address of Principal
Executive Offices)
(Zip Code)
PACIFIC CENTURY FINANCIAL CORPORATION STOCK OPTION PLAN OF 1994,
AS AMENDED
(Full title of the plan)
Joseph T. Kiefer, Esq.
Pacific Century Financial Corporation
P. O. Box 2900
Honolulu, Hawaii 96846
(Name and address of agent for service)
(808) 537-8879
(Telephone number, including area code, or agent for service)
Copy
to:
J. Thomas Van Winkle, Esq.
Carlsmith Ball LLP
Pacific Tower
1001 Bishop Street, Suite 2200
Honolulu, Hawaii 96813
(808) 523-2500
Calculation of Registration Fee
Title of each class of securities to be registered
Amount to be registered
Proposed maximum offering price per unit
Proposed maximum aggregate offering price
Amount of registration fee
Common stock, par value $.01 per share
5,000,000(1)
$23.52(2)
$117,600,000(2)
$29,400
(1)
This
Registration Statement covers an additional 5,000,000 of the maximum 14,650,000 shares of common stock, par value $0.01 per share ("Common Stock") authorized to be issued under
the Pacific Century Corporation Stock Compensation Plan of 1994 (the "Plan"). Pursuant to Rule 416, this registration statement also covers an additional and indeterminate number of shares of
Common Stock that may be issued pursuant to the anti-dilution provisions of the Plan.
(2)
Estimated
pursuant to Rule 457(c) and (h) solely for the purposes of calculating the amount of the registration fee. The proposed maximum offering price per share of
$23.52 was based on the average of the high and low price per share of the Common Stock on May 11, 2001, as reported by the New York Stock Exchange composite tape.
Pursuant
to General Instruction E to Form S-8, Pacific Century Financial Corporation (the "Company") is registering 5,000,000 additional shares of common stock, par
value $.01 per share (the "Common Stock"), authorized to be issued under the Pacific Century Financial Corporation Stock Option Plan of 1994, as amended (formerly the Bancorp Hawaii, Inc. Stock
Option Plan of 1994) (the "Plan"). The Company's predecessor, Bancorp Hawaii, Inc., filed a Registration Statement on Form S-8 (File No. 33-54777) on
July 28, 1994 relating to 1,875,000 shares of Common Stock (subsequently split 2 for 1, for a total of 3,750,000 shares of Common Stock) authorized to be issued under the Plan, which was
adopted by the Company in Post-Effective No. 1 thereto filed on June 23, 1998 (collectively, the "First Registration Statement"). The Company filed an second Registration
Statement on Form S-8 (File No. 333-80127) relating to an additional 5,900,000 shares of Common Stock authorized to be issued under the Plan (the "Second
Registration Statement"). The contents of the First and Second Registration Statements are incorporated by reference into this Registration Statement.
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 6. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law (the "DGCL") authorizes a Delaware corporation to indemnify its directors, officers,
employees and agents against certain liabilities and expenses they may incur in such capacities, and provides that such persons have a right to indemnification against expenses where they have been
successful on the merits or otherwise in defense of certain types of actions or any claim, issue or matter therein. The indemnification provided by Section 145 is not exclusive of any other
indemnification rights that may exist under any bylaw, agreement, vote of shareholders or disinterested directors, or otherwise. Article VI of the registrant's bylaws require that the
registrant indemnify and hold harmless, to the fullest extent permitted by applicable law (including circumstances in which indemnification is otherwise discretionary) any person who was or is made or
is threatened to be made a party to or is otherwise involved in any action, suit or proceeding by reason of the fact that such person is or was a director or officer of the registrant or is or was
serving at its request as a director, officer, employee or agent of another corporation or of a partnership, joint venture, trust, enterprise or nonprofit entity (including service with respect to
employee benefit plans) against all liability and loss suffered and expenses (including attorneys' fees) reasonably incurred by such person. In addition, the registrant maintains insurance under which
its directors, officers and employees and agents are insured against certain liabilities. Also, the registrant's Certificate of Incorporation includes provisions which eliminate the personal liability
of registrant's directors for monetary damages resulting from breaches of their fiduciary duty of care, provided that such provision does not eliminate liability for breaches of the duty of loyalty,
acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, violations of Sections 174 of the DGCL (concerning the willful or negligent violation of
statutory provisions precluding payment of certain dividends and certain stock purchases or redemptions) or for any other transactions from which the director derived an improper personal benefit.
II–1
Item 8. Exhibits.
Exhibit No.
Description
4.1
Pacific Century Financial Corporation Stock Option Plan of 1994 (the "Plan") (incorporated by reference from Exhibit 4(a) to the registrant's Registration Statement on Form S-8, Reg. No. 33-54777, filed July 28,
1994)
4.2
Amendment 97-1 to the Plan (incorporated by reference from Exhibit 10.13 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1998, filed March 1, 1999 (the "1998 10-K"))
4.3
Amendment 97-2 to the Plan (incorporated by reference from Appendix A to the registrant's Proxy Statement for its 1998 Annual Meeting of Shareholders, filed March 10, 1998)
4.4
Amendment 99-1 to the Plan (incorporated by reference from Exhibit 10.10 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2000, filed March 8, 2001 (the "2000 10-K"))
4.5
Amendment 99-2 to the Plan (incorporated by reference from Exhibit 10.15 to the 1998 10-K)
4.6
Amendment 2000-1 to the Plan (incorporated by reference from Exhibit 10.12 to the 2000 10-K)
4.7
Amendment 2000-2 to the Plan (incorporated by reference from Exhibit 10.13 to the 2000 10-K)
4.8
Amendment 2000-3 to the Plan (incorporated by reference from Exhibit 10.14 to the 2000 10-K)
4.9
Amendment 2001-1 to the Plan
4.10
Amendment 2001-2 to the Plan
5.1
Opinion of Carlsmith Ball LLP with respect to legality
23.1
Consent of Carlsmith Ball LLP (included as part of Exhibit 5.1)
23.2
Consent of Ernst & Young LLP
24.1
Power of Attorney (included on pages II-3 - II-4)
II–2
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form S-8 and has duly caused this registration statement or amendment thereto to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Honolulu, State of Hawaii, on the 17th day of May, 2001.
Pacific Century Financial Corporation
By:
/s/ MICHAEL E. O'NEILL
Michael E. O'Neill
Chairman of the Board and Chief Executive Officer
In
accordance with the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in
the capacities and on the dates stated. Each person whose signature appears below hereby constitutes and appoints each of Michael E. O'Neill, Richard J. Dahl and Neal C. Hocklander as such person's
true and lawful attorney-in-fact and agent with full power of substitution for such person and in such person's name, place and stead, in any and all capacities, to sign and to
file with the Securities and Exchange Commission, any and all amendments and post-effective amendments to this registration statement, with exhibits thereto and other documents in
connection therewith, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and
agent, or any substitute therefor, may lawfully do or cause to be done by virtue thereof.
Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-8 has been signed below by the following persons on
the dates indicated.
Signature
Title
Date
/s/ PETER D. BALDWIN
Peter D. Baldwin
Director
May 17, 2001
Mary G. Bitterman
Director
May 17, 2001
/s/ CLINTON R. CHURCHILL
Clinton R. Churchill
Director
May 17, 2001
/s/ RICHARD J. DAHL
Richard J. Dahl
President and Director
May 17, 2001
II–3
/s/ DAVID A. HEENAN
David A. Heenan
Director
May 17, 2001
/s/ ROBERT A. HURET
Robert A. Huret
Director
May 17, 2001
/s/ MICHAEL E. O'NEILL
Michael E. O'Neill
Chairman of the Board, Chief Executive Officer and Director
May 17, 2001
Martin A. Stein
Director
May 17, 2001
/s/ STANLEY S. TAKAHASHI
Stanley S. Takahashi
Director
May 17, 2001
Donald M. Takaki
Director
May 17, 2001
/s/ ALLAN R. LANDON
Allan R. Landon
Vice Chairman, Treasurer and Chief Financial Officer
May 17, 2001
/s/ LESLIE F. PASKETT
Leslie F. Paskett
Senior Vice President and Controller (Chief Accounting Officer)
May 17, 2001
II–4
EXHIBIT INDEX
Exhibit No.
Description
4.1
Pacific Century Financial Corporation Stock Option Plan of 1994 (the "Plan") (incorporated by reference from Exhibit 4(a) to the registrant's Registration Statement on Form S-8, Reg. No. 33-54777, filed July 28,
1994)
4.2
Amendment 97-1 to the Plan (incorporated by reference from Exhibit 10.13 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1998, filed March 1, 1999 (the "1998 10-K"))
4.3
Amendment 97-2 to the Plan (incorporated by reference from Appendix A to the registrant's Proxy Statement for its 1998 Annual Meeting of Shareholders, filed March 10, 1998)
4.4
Amendment 99-1 to the Plan (incorporated by reference from Exhibit 10.10 to the registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2000, filed March 8, 2001 (the "2000 10-K"))
4.5
Amendment 99-2 to the Plan (incorporated by reference from Exhibit 10.15 to the 1998 10-K)
4.6
Amendment 2000-1 to the Plan (incorporated by reference from Exhibit 10.12 to the 2000 10-K)
4.7
Amendment 2000-2 to the Plan (incorporated by reference from Exhibit 10.13 to the 2000 10-K)
4.8
Amendment 2000-3 to the Plan (incorporated by reference from Exhibit 10.14 to the 2000 10-K)
4.9
Amendment 2001-1 to the Plan
4.10
Amendment 2001-2 to the Plan
5.1
Opinion of Carlsmith Ball LLP with respect to legality
23.1
Consent of Carlsmith Ball LLP (included as part of Exhibit 5.1)
23.2
Consent of Ernst & Young LLP
24.1
Power of Attorney (included on pages II-3 - II-4)
QuickLinks
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
SIGNATURES
EXHIBIT INDEX