Bank of Hawaii 1st-quarter earnings match last year's record
Advertiser Staff
Bank of Hawaii Corp.'s first-quarter 2006 net income was virtually unchanged from its record first-quarter earnings in 2005, reflecting the continued growth in the state's economy.
THE NUMBERS
Net income: $45.4 million, little changed from a year ago's $45.5 million.
Earnings per share: 87 cents, up 4.8 percent from a year ago.
Net interest income: $102.2 million, up 1.5 percent from a year ago.
Total assets: $10.5 billion, up 6.2 percent from a year ago.
REASONS
WHAT THEY ARE SAYING
"Bank of Hawaii had a good start in 2006 with solid performance in the first quarter. We've had good loan origination volumes, our deposits continue to be strong and the Hawai'i economy remains solid."
Allan LandonBank of Hawaii chairman and CEO.
WHAT'S NEXT
Bank of Hawaii expects to earn about $187 million for 2006, which would be up 2.4 percent from 2005. The forecast for 2006 includes $17 million in provisions for credit losses that the bank expects to take this year.
The bank also may buy back up to $76.4 million more of its own shares. The bank purchased nearly $42 million worth of shares from January through April.
Bankoh shares fell $1.12 yesterday to close at $52.20.
