First Hawaiian Bank makes $50 million Q4 profit - Hawaii News Now - KGMB and KHNL

First Hawaiian Bank makes $50 million Q4 profit

By Howard Dicus - bio | email 

HONOLULU (HawaiiNewsNow) - First Hawaiian Bank has posted a $50 million fourth quarter profit, up 4% from the same quarter a year ago, and reports deposits grew 2.7% to $10.5 billion in that year's time.
The largest bank in the state reported Friday that it ended the year with total assets of $15.2 billion, up 10.9% from a year earlier, and its efficiency ratio of 43.3% was the best in Hawaii and one of the best in the country.
"The bank and its employees are committed and well-positioned to support our customers through an anticipated sluggish 2011," CEO Don Horner said in a statement.
Total loans and leases grew 3.35 to $83 billion.
"We significantly invested in the state's economy," Horner said.
The bank cited Federal Reserve Board data which indicate that FHB made more small business loans in 2010 than all other local banks put together.
First Hawaiian Bank and San Francisco-based Bank of the West are both owned by BancWest Corp., which in turn is owned by Paris-based BNP Paribas, one of the largest banks in Europe.
First Hawaiian Bank and Bank of Hawaii together hold almost two thirds of all Hawaii banking business, with distant third and fourth places held by American Savings Bank and Central Pacific Bank.
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