Bank of Hawaii in Honolulu said Monday that its fourth-quarter profit rose 3.98% to $42.8 million from a year earlier as loan growth offset lower fee income.
The $15.5 billion-asset company's earnings per share of 99 cents beat the average estimate of analysts polled by Bloomberg by 6 cents.
Net interest income rose 5.2% to $101.6 million, total loans rose 14.5% to $7.9 billion and the net interest margin rose 1 basis point to 2.85%. Commercial and industrial, commercial mortgage, residential mortgage and home equity lending all increased.
-
Bank of Hawaii in Honolulu reported lower third-quarter earnings on a charge from the disposal of aircraft leases.
October 26 -
Bank of Hawaii in Honolulu has hired Sheh Bertram as chief information officer.
August 17 -
Bank of Hawaii in Honolulu is getting out of the aircraft leasing business.
September 30
Noninterest income fell 2.3% to $44.8 million on lower revenue from trust and asset management and service charges. Bank of Hawaii also recorded a $181,000 loss on investment securities, versus a gain of nearly $2 million in the year-earlier period.
Noninterest expenses rose 5.5% to $85.7 million and the company's efficiency ratio worsened by 152 basis points to 58.55%.
