Posted at 11:39 a.m., Tuesday, January 27, 2004
Central Pacific’s fourth quarter down
Advertiser Staff
The parent of Central Pacific Bank today reported an 11 percent drop in fourth-quarter earnings, but said its net income for all of 2003 was up 2 percent.Central Pacific Financial Corp., which is enmeshed in a battle to take over rival City Bank, said net income for the three months to Dec. 31 was $9.1 million, or 55 cents per share, compared with net income of $10.2 million, or 62 cents per share for the fourth quarter of 2002.
For the full year, net income was $33.9 million, up 2 percent compared to the $33.3 million earned in 2002. Earnings per share increased to $2.07 from $2.04 in 2002.
