HONOLULU (HawaiiNewsNow) - Bank of Hawaii has posted a $42 million first quarter profit, down from the same time last year.
Revenue and profit both fell from year-before levels, though they improved from the fourth quarter of 2010 to the first quarter of 2011.
"Solid financial performance," said CEO Peter Ho. "Our net interest margin continued to improve and credit costs continued to come down as the Hawaii economy maintains its recovery."
The quarter at a glance:
- Interest income: $99.7 million ($107.7 million).
- Non-interest income: $53.9 million ($71.8 million).
- Net income: $42.4 million ($52.7 million).
- Per share: 88 cents ($1.09).
Deposits: $9.9 billion. Total assets: $13 billion. Return on average assets: 1.32 percent. Return on average equity: 16.86 percent. Efficiency ratio: 56.04 percent.