Bank of Hawaii Corp. said Monday that it boosted profits, despite a slowing economy, easily beating analyst expectations on a solid net interest income gain.
The Honolulu company said second-quarter net income inched up 1.2% from a year earlier, to $48.3 million, or $1 a share. Net interest income rose 8%, to $107.2 million.
Analysts polled by Thomson Reuters, on average, estimated a profit of 93 cents a share.
Meanwhile, First Hawaiian Bank said after markets closed Friday that its second-quarter profit rose 6% from a year earlier, to $55.1 million, on strong revenue and loan growth. BancWest Corp. in San Francisco, a unit of Paris-based BNP Paribas SA, is the bank holding company for First Hawaiian.