HONOLULU (HawaiiNewsNow) - Bank of Hawaii logged a $47 million profit, up 48 percent from a year ago. Bankoh set aside about half as much money for loan losses as it did a year ago. But Bankoh says non-performing assets are still at elevated levels, mostly because of the time it takes to resolve mortgage problems.
Bank of America says it's looking into reports of erroneous foreclosure notices sent to Hawaii homeowners. Details were published in the Sunday Star-Advertiser. Is this happening in other places? Bank of America has opened an office in south Florida just to work with homeowners on payment issues.
Hawaii commercial real estate investments in the first quarter topped $100 million. Sound like a lot? Five years ago, sales were ten times that much. Colliers Monroe Friedlander says it may be the bottom of the market but a turnaround in investment real estate sales is not expected soon.
Bombardier, the french aircraft maker, is suing Island Air for millions, charging the airline returned a plane in unflyable condition. There are some signs, however, that both sides want to work something out.
Island Insurance has a new chief information officer. It's Jeff Fabry, who at RLI Insurance created a web-based Hawaii homeowners insurance program.