{"id":11553,"date":"2011-11-16T01:05:39","date_gmt":"2011-11-16T01:05:39","guid":{"rendered":"http:\/\/newspaper.ctsi-logistics.com\/?p=11553"},"modified":"2011-11-16T01:05:39","modified_gmt":"2011-11-16T01:05:39","slug":"fhb-reports-3rd-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/fhb-reports-3rd-quarter-earnings\/","title":{"rendered":"FHB reports 3rd quarter earnings"},"content":{"rendered":"

HAG\u00c5T\u00d1A, Guam<\/strong>-First Hawaiian Bank reported net income of $50.4 million for the third quarter of 2011, compared to $56.4 million in 2010. The net income decline was the result of an increase in Income Tax expense for 2011 due to reduced investment tax credits.<\/p>\n

Excluding one-time tax gains in 2010, net income was up 9.8 percent for the quarter. Net income before taxes for the quarter was $80.5 million compared to $69.9 million in 2010, a 15.1 percent increase.<\/p>\n

Net income before taxes for the nine months ended Sept. 30, 2011, was $251.3 million, a 9.3 percent increase. Net income after tax was down 3.1 percent to $157.5 million compared to $162.4 million in 2010 due to increased Income Tax expenses.<\/p>\n

At quarter end, total assets reached a record $15.4 billion. The announcement was made today by Don Horner, First Hawaiian chairman and chief executive officer.<\/p>\n

\u201cDespite our sluggish state and national economic recoveries, the bank achieved a respectable quarter highlighted by strong deposit growth as well as continued solid asset quality,\u201d Horner said.<\/p>\n

At Sept. 30, 2011, First Hawaiian Bank achieved the following over the prior year:<\/p>\n

Total Assets: were $15.4 billion, a 3.8-percent increase.<\/p>\n

Deposits: reached $12.2 billion, a 16.9-percent increase.<\/p>\n

Loans and Leases: were $8.2 billion, a 1.1-percent increase.<\/p>\n

Capital (Net worth): remained well above other Hawaii banks and in the top quartile nationally as a percentage of total assets.<\/p>\n

Non-Performing Assets: Asset quality remained one of the strongest in the U.S. with non-performing assets at 0.26 percent of total assets.<\/p>\n

Horner reported that loan demand was still lagging as many businesses remain cautious about the strength of the economic recovery.<\/p>\n

For the first nine months of 2011, First Hawaiian remained the largest local real estate lender in Hawaii funding nearly $900 million in mortgages. The bank also added an upgraded 24×7 free Mobile Banking service for its customers and installed ATMs in 22 Zippy’s locations on Oahu and Maui.\u00a0(FHB)<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

HAG\u00c5T\u00d1A, Guam-First Hawaiian Bank reported net income of $50.4 million for the third quarter of…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-11553","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/11553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=11553"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/11553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=11553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=11553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=11553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}