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The Honolulu Advertiser
Updated at 1:14 p.m., Monday, April 20, 2009

Bank of Hawaii reports 37 percent drop in first-quarter profit

Bank of Hawaii Corp. today reported a 37 percent drop in its first quarter earnings reflecting continued weakness in the local economy.

The company said it netted $36 million, or 75 cents per share, during the three months ending March 31, down from $57.2 million, or $1.18 per share, in the year-earlier period.

Shares of Bank of Hawaii dropped $3.51 to close at $32.89 on the New York Stock Exchange today.