Bank of Hawaii has received a positive mention in a new Standard & Poor's Equity Research report examining the current environment for bank stocks.

The report, while noting these are tough times for banking stocks, said a few potential bright spots exist for investors, including stocks that are well-positioned players with upside potential.

"In today's turbulent banking environment, investors may need to look beyond the biggest players to the regional players to find value," said Erik Oja, a Standard & Poor's regional banks analyst.

"While distinct challenges, such as residential loan portfolio difficulties, remain for some in the study, others, including Bank of Hawaii, Northern Trust, Bank of New York Mellon, and Westamerica, performed well across all of the areas we examined."