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Bank of Hawaii (BOH) will reportedly delay its exit from American Samoa until the territory can recruit another bank.
December 10 -
Bank of Hawaii (BOH) has approved a process where shareholders can pressure directors in uncontested elections.
November 20 -
Bank of Hawaii Corp. (BOH) in Honolulu reported a dip in quarterly earnings as revenue from mortgage banking plunged 65%.
October 28 -
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 (BOH)
However, the $14.1 billion-asset company's earnings per share of 88 cents beat the estimates of analysts polled by Bloomberg by nearly two cents.
Bank of Hawaii benefited from slight gains in many areas since the third quarter. It increased loan and lease balances, deposits, net interest margin and return on average assets and equity all by small margins in the September-to-December period.
"Our net interest margin improved, credit quality remained stable, our capital ratios remain quite strong, and we maintained our focus on disciplined expense management," Chief Executive Peter Ho said in a press release Monday.
Year-over-year results were more mixed. Net interest income increased by 2.3%, to $94.8 million, but net interest margin decreased two basis points, to 2.85%.
Noninterest income decreased by 14.5% to $45.3 million, as mortgage banking revenue fell. Noninterest expense fell 1.3% from the fourth quarter of 2012.
Bank of Hawaii did not report any provisions for credit losses for the full year of 2013. Net chargeoffs for the fourth quarter were $8.2 million compared with $2.1 million in the fourth quarter prior. Loan and lease chargeoffs of $10.4 million during the fourth quarter of 2013 were partially offset by recoveries of $2.2 million.
