Sale of securities boosts Bank of Hawaii's 4th quarter earnings
Bank of Hawaii Corp.’s fourth quarter earnings rose, helped by a gain on the sale of investment securities
The company said today that it earned $40.5 million, or 84 cents a share, compared with $39.3 million, or 82 cents a share, last year.
The bank's net interest margin — the difference between what the bank earns on loans and pays on deposits-- stood at 3.57 percent, down 86 basis points from last year. Net interest income fell to $103.5 million from $105.8 million.
Non-interest income rose 48 percent to $80.8 million, largely due to net gains of $25.7 million on sales of investment securities.
BOH shares were down $2.86, or 5.8 percent, at $46.22 in late trading on the New York Stock Exchange.