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Bank of Hawaii in Honolulu reported a slide in quarterly earnings as lending income fell.
July 22 -
Bank of Hawaii in Honolulu missed its first-quarter earnings estimates as interest income fell.
April 22 -
Bank of Hawaii (BOH) has agreed to delay its exit from American Samoa for one year to give the territory time to recruit another bank.
March 13
Bank of Hawaii Corp. (BOH) in Honolulu reported a dip in quarterly earnings as revenue from mortgage banking plunged 65%.
The $14 billion-asset Bank of Hawaii earned $37.7 million in the third quarter, an 8% decrease from the same period a year ago. Earnings per share of 85 cents were 1 cent higher than the estimates of analysts polled by Bloomberg.
Bank of Hawaii's noninterest income dipped 14%, to $45.1 million, due largely to the decline in revenue from mortgage lending. Net interest income on a tax equivalent basis fell 3%, to $93.5 million, on waning income from loans and leases and securities available for sale. The company's net interest margin dropped 15 basis points to 2.83%.
Noninterest expense fell 2%, to $83 million. Bank of Hawaii lowered costs from salaries and benefits, occupancy and professional fees.
Net chargeoffs rose 55%, to $2.3 million, as recoveries declined by roughly a third. Bank of Hawaii did not take a loan-loss provision in the third quarter or during the same period a year ago.
