logo
  

Bank Of Hawaii Q3 Profit Beats Estimates

Bank of Hawaii Corporation (BOH) said it reported an increase in profit for the third quarter that also topped Wall Street estimates. Net interest margin was 2.32%, a decrease of 35 basis points from the same quarter last year. The company said the decline in the net interest margin was largely due to higher levels of liquidity from continued strong deposit growth and lower interest rates, partially offset by higher fees from Paycheck Protection Program loans, deployment of excess liquidity and core loan growth.

Bank of Hawaii noted that its core consumer and commercial loan and deposit growth was strong in the quarter. Credit quality in the quarter remained good, the company said.

Third quarter earnings per share was $1.52, compared to $0.95, last year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $1.33, for the quarter. Analysts' estimates typically exclude special items. Net income was $62.1 million, up 64.0% from previous year.

Net interest income was $126.8 million, an increase of 2.1% from last year. Noninterest income was $41.4 million, down 0.9%. Analysts expected revenue of $167.35 million, for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. air travel industry is going through its worst crisis since the troubled travel time during the peek pandemic struggles, with thousands of flights across the country being cancelled or getting delayed. The aviation crisis, as millions are preparing to travel during the upcoming July 4th holiday weekend, is mainly attributed to the staffing issues at airlines, ... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz.
RELATED NEWS
Follow RTT