Shares of Bank of Hawaii Corporation (BOH) are rising more than 3% Monday morning at $55.71, following quarterly results.
The company reported earnings of $44.09 milion or $1.12 per share for the second quarter, lower than $54.89 million or $1.38 per share in the same quarter a year ago, but in line with the average estimate of analysts polled by Thoson-Reuters of $1.12 per share.
Net interest income for the second quarter was $124.3 million, a decrease of 6.4% from the same quarter of 2022, primarily due to higher funding costs.
The allowance for credit losses on loans and leases was $145.4 million at June 30. 2023 a decrease of $3.1 million from June 30, 2022.
BOH has traded in the range of $30.83 - $85.45 in the last 1 year.
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