Posted at 9:15 a.m., Tuesday, April 25, 2006
Central Pacific reports solid first-quarter earnings
Advertiser Staff
Central Pacific Financial Corp. said its first quarter 2006 net income rose 12.2 percent to $19.3 million, helped by Hawai'i's robust economy.The parent of Central Pacific Bank said its per-share earnings was 63 cents for the three months ending March 31, up 6.8 percent from the year-earlier quarter.
The company, which merged with City Bank in February 2005, said its assets rose 9.8 percent to $5.2 billion during the latest first quarter while loans and leases grew 12 percent to $3.6 billion. Deposits increased 8.8 percent to $3.7 billion from first quarter 2005.
"We believe we are well-positioned to achieve our strategic goals and to continue our strong financial performance," said Clint Arnoldus, Central Pacific's president and chief executive officer.
