Bank of Hawaii reports 3Q net income of $44.1M - Hawaii News Now - KGMB and KHNL

Bank of Hawaii reports 3Q net income of $44.1M

HONOLULU (AP) - Bank of Hawaii Corp. is reporting third quarter net income of $44.1 million, compared with net income of $36.5 million in the third quarter of 2009.

Bank Chairman, CEO and President Peter S. Ho said Monday that during the quarter, the company repurchased 208,500 shares of common stock at a cost of $9.8 million.

Ho says the state's economy remains stable and the bank is pleased with its year-to-date financial results, including improved credit quality.

Ho says the bank is hopeful that its loan balances will begin to stabilize in the near future. But he adds the bank remains cautious about "revenue headwinds" resulting from financial reform legislation, the possibility of lower interest rates and the ability to generate sustained future loan growth.

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