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The Honolulu Advertiser

Posted at 11:53 a.m., Tuesday, July 25, 2006

First Hawaiian profit up 25% for best 2nd quarter ever

Advertiser Staff Writer

First Hawaiian Bank said today that it had its best-ever second quarter as the company's net profit rose 25.3 percent during the three months ending June 30, 2006.

The bank said it earned $51.9 million during latest second quarter, compared to $41.4 million in the year-earlier period. The bank's assets increased 7.7 percent to $11.8 billion while deposits grew by 6.8 percent to $8.7 billion.

"The bank experienced an exceptional quarter thanks to a continued positive economy and a highly customer-focused group of employees," said Don Horner, First Hawaiian's president and chief executive officer. "We expect 2006 to be a strong year for First Hawaiian Bank, but the economy is clearly showing signs of slower growth."

Reach Rick Daysog at 525-8064 or rdaysog@honoluluadvertiser.com