First Hawaiian Bank

First Hawaiian Bank Fourth Quarter 2012 Earnings

FIRST HAWAIIAN POSTS 3.8 PERCENT EARNINGS INCREASE FOR 2012;

LOAN AND LEASE PORTFOLIO REACHES A RECORD $9 BILLION

(Honolulu, Hawaii January 25, 2013) – First Hawaiian Bank today reported net income of $53.1 million for the fourth quarter 2012, a 3.1 percent gain over the comparable period of 2011.  For the year, the bank’s loan and lease portfolio reached a record $9 billion, while First Hawaiian’s net income was $216.9 million, an increase of 3.8 percent over 2011. The announcement was made by Bob Harrison, First Hawaiian Bank president and CEO.

“We had a solid fourth quarter and finished the year with strong loan and deposit growth,” said Harrison.  “Despite a competitive marketplace, we were able to grow our loan volume throughout 2012, making more than $3.6 billion in total loans. With tourism clearly re-bounding and construction projects beginning in the market, we are optimistic that we will continue to see steady economic growth in 2013.”

For the 12 months ended December 31, 2012, First Hawaiian Bank achieved the following over the prior year:

  •  Total Assets:  reached $16.6 billion, up 5.1 percent.
  • Total Deposits:  were $12.9 billion, an increase of 6.0 percent.
  • Total Loans and Leases:   were $9.0 billion up 7.5 percent.
  • Non-Performing Assets to Total Assets:  remained one of the lowest in the banking industry at 0.25 percent.
  • Efficiency Ratio:  was 44.31 percent making First Hawaiian the most productive bank in Hawaii and one of the most efficient in the nation.

In the fourth quarter of 2012, First Hawaiian noted several accomplishments and milestones:

  • First Hawaiian Bank was the first local bank to offer CD account openings online through FHB Direct, an efficient and secure Internet account opening service.
  • The bank celebrated its 15 year anniversary in the Commonwealth of Northern Marianas Islands (CNMI).
  • In 2012, First Hawaiian was once again one of Hawaii’s largest contributors to charity. Through its employee campaign and Foundation, the bank donated over $2.5 million to 400 charities in Hawaii, Guam and Saipan, bringing its total community donation to $7.5 million over the past three years. 
  • The First Hawaiian Bank quarterly Business Activity Report (BAR) showed Hawaii credit and debit card sales transactions up 9.83 percent for all of 2012.  Statewide credit and debit card transactions were strong in fourth quarter 2012 posting an 11.31 percent gain for same store sales the year prior.  This was the largest quarterly and annual increase in three years.  It also was the first time all 16 sectors posted positive gains.  The Guam BAR showed transactions up by 10.12 percent in the fourth quarter 2012 over prior year with all but one sector posting growth.

First Hawaiian Bank (www.fhb.com) with $16.6 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.

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