Ronald Migita, who earned $1 a as CEO of Central Pacific Financial Corp. last year, is getting a raise.

In a filing with the Securities and Exchange Commission, the bank holding company said Migita will earn $250,000 for the second half of 2009.
The raise, which is on top of Migita’s $80,000 annual compensation as Central Pacific’s chairman, places him at the bottom of the pay scale when it comes to local CEO pay.
An Advertiser study earlier this year found that the average pay for a CEO of a local publicly traded company is about $2.9 million.