© SFCUHONOLULU (HawaiiNewsNow) -
Bank of Hawaii Corp. made a
$40 million fourth quarter profit, up $1 million from a year earlier, the bank
reported Wednesday.
Deposits grew 9 percent to $11.5 billion, while the loan
and lease portfolio grew 6 percent to $5.9 billion, compared to year-before
levels. Allowance for loan and lease losses was reduced to $129 million, 2.2
percent of the portfolio.
"We are very pleased with the continued stability
and strength of our earnings," CEO Peter Ho said in a statement.
"Loan balances increased across most categories… credit quality remained
solid."
Net interest income was $93 million, down from $96
million a year earlier, while non-interest income was $53 million, up slightly
from year-before levels.
Bankoh took a $1.5 million charge from closing its
remaining branches in American Samoa.
Total assets grew to $13.7 billion, increasing $346
million from the fourth quarter of 2011.
For 2012 as a whole, Bankoh reported $166 million net
income, compared to $160 million for 2011.
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