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Bank of Hawaii in Honolulu is getting out of the aircraft leasing business.
September 30 -
Bank of Hawaii in Honolulu reported slightly lower second-quarter profits as expanded lending and mortgage banking was offset by higher payroll costs and other expenses.
July 27 -
Bank of Hawaii in Honolulu has hired Sheh Bertram as chief information officer.
August 17
Bank of Hawaii in Honolulu reported lower third-quarter earnings on a charge from the disposal of aircraft leases.
The $15.2 billion-asset company's net income fell 17.9% to $34.3 million, from a year earlier. Earnings per share fell 16.8% to 79 cents, beating the average estimate of analysts polled by Bloomberg by 14 cents.
Net interest income increased 2.6% to $97.9 million. Total loans rose 16.4% to $7.7 billion. The net interest margin shrank 8 basis points to 2.77%.
Noninterest income fell 3.8% to $43.2 million, led by lower net investment securities gains.
Noninterest expense rose 13.5% to $91.9 million. Expenses included a $6.5 million charge to dispose of the bank's remaining aircraft leases. Bank of Hawaii had announced last month its plan to exit aircraft leasing. Professional fees and FDIC insurance premiums also increased. The efficiency ratio worsened to 65.12%.
