HONOLULU -- Bancorp Hawaii Inc. said estimated earnings for the third quarter will be in the $1 to $1.05 a share range, versus $1.12 a share a year ago.

The estimate is more than 6 cents lower than the average projection of nine brokers surveyed by the Institutional Brokers Estimate System.

"The depressed earnings estimate is the result of our decision to further charge off amounts related to a group of problem loans and to make additional loss provisions to restore loss reserves to acceptable levels," the company said.

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