First Hawaiian's super year culminates with strong fourth quarter
Advertiser Staff
First Hawaiian Bank posted record earnings as the company's net increased 28.1 percent to $47.1 million from the year-earlier quarter.
THE NUMBERS
Net fourth-quarter income: $47.1 million, up 28.1 percent from the previous fourth quarter.
2005 net income: $171.9 million, up 19.7 percent from the previous year.
Total deposits: $8.6 billion, an 11.9 percent increase from the same period a year earlier.
Total assets: $11.6 billion, up 9.3 percent from the same period a year earlier.
REASONS
WHAT THEY ARE SAYING
"A combination of a strong economy and an exceptional group of employees made this the most profitable year in our history.
"We had major growth ... in all our major lines of business."
Don HornerCEO, First Hawaiian Bank
WHAT'S NEXT
The bank plans to open new branches in Wailea, Waikoloa and Guam this year. First Hawaiian also will replace its Sand Island location with a larger branch nearby.
The company is expanding its credit card and debit card business and will beef up its wealth management and private banking units.
December's $1.3 billion acquisition of Commercial Federal Corp. in Omaha, Neb., will continue to boost parent BancWest's net.
