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Signs of optimism are growing for acquisition, development and construction loans as banks hone strategies in a market transformed by the crisis.
July 27 -
Bankers were pleased with the dramatic leap in home lending last quarter, but they cautioned that volume will slow in the second half as rate increases curb refinancings, nonbanks provide stiffer competition, servicing costs remain high and underwriting standards change.
July 22 -
Bank of Hawaii in Honolulu reported higher quarterly profit due to strong loan growth.
October 27
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.
The $15.3 billion-asset company's net income fell 0.8% to $41.2 million, or 95 cents per share, from a year earlier, beating by three cents the average estimate of analysts polled by Bloomberg.
Net interest income increased 3.6% to $97.8 million. Total loans and leases rose 16% to $7.4 billion. The net interest margin tightened five basis points to 2.81%.
Noninterest income rose 3.2% to $45.9 million on higher mortgage banking revenue, which rose 94% to $3.5 million.
Noninterest expense rose 3.1% to $83.6 million. The cost of salaries and employee benefits rose 5.6% to $47.6 million. The efficiency ratio improved to 58.16%.
