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- FIrst Hawaiian Bank Third Quarter 2012 Earnings
FIrst Hawaiian Bank Third Quarter 2012 Earnings
First Hawaiian Posts 4 Percent Net Income Gain for the First Nine Months of 2012
(Honolulu, Hawaii October 19, 2012) – First Hawaiian Bank today reported net income of $163.8 million for the nine months ended September 30, 2012, a 4.0 percent increase over the comparable year-earlier period. Net income for the third quarter of 2012 was $50.6 million, a 0.6 percent gain over the third quarter of 2011. The announcement was made by Bob Harrison, First Hawaiian Bank president and CEO.
“Thanks to the continued economic recovery, the bank had a respectable performance for the first nine months of the year with good growth in net earnings, deposits and loans,” said Harrison. “The low interest rate environment is improving loan demand as tourism continues to recover.”
At September 30, 2012, First Hawaiian Bank achieved the following over the prior year:
- Total Assets: reached $16.1 billion, up 4.7 percent.
- Total Deposits: were $12.7 billion, an increase of 4.3 percent.
- Total Loans and Leases: were $8.7 billion up 5.9 percent.
- Non-Performing Assets to Total Assets: remained one of the lowest in the industry at 0.21 percent.
- Efficiency Ratio: was 44.0 percent making First Hawaiian the most productive bank in Hawaii and one of the most efficient in the nation.
For the third quarter of 2012, First Hawaiian noted several accomplishments and milestones:
- The Federal Home Loan Bank of Seattle announced that the bank was the recipient of its 2012 Community Spirit Award. First Hawaiian received the award in recognition for its support of affordable housing projects in Hawaii and Guam.
- First Hawaiian was the recipient of the Visa Service Quality Performance Award which recognized the bank for educating its merchant customers on acceptance procedures resulting in lower fraud losses.
- The bank’s quarterly Business Activity Report (BAR) showed Hawaii credit and debit card sales transactions up 9.44 percent in the third quarter over the previous year, with 15 out of 16 sectors posting positive growth for the fourth consecutive quarter. The Guam BAR also showed transactions up by 7.99 percent in the third quarter 2012 over prior year with half of its sectors posting double digit growth.
- The Makiki Branch was redesigned to offer customers a more modern and spacious environment as part of the bank’s strategy focused on strengthening customer relationships.
First Hawaiian Bank (www.fhb.com) with $16.1 billion in total assets was founded in 1858 and is Hawaii’s oldest and largest bank. It is a wholly-owned subsidiary of BNP Paribas, a leading global financial services institution.