First Hawaiian reports quarterly profit, record year
First Hawaiian Bank reported revenue and profit rose in the three months ended Dec. 31, helped by increasing deposits, loans and leases. It also achieved record net income for the year as profit rose more than 15 percent to $198.5 million.
THE NUMBERS
Quarterly net income: $48.2 million, up 2.4 percent from a year earlier.
2006 net income: $198.5 million, up 15.5 percent.
Year-end total assets: $12.0 billion, up 3.5 percent from year earlier
Year-end deposits: $8.9 billion, up 4 percent.
Quarterly revenue: $148.3 million, up 8.4 percent.
2006 revenue: $585.2 million, up 11.4 percent
REASONS
WHAT THEY ARE SAYING
"We experienced solid growth in all of our major business lines due to the outstanding performance of our employees who continued to successfully execute our relationship strategy."
Don HornerFirst Hawaiian Bank chief executive officer
WHAT'S NEXT
The bank expects 2007 will be a year of capital investment with multimillion-dollar upgrades and expansion of branches in Hawai'i and Guam.
New state-of-the-art security systems for online banking are being added.
A new chip card for credit card customers will be available mid-year. It can be waved near a reader to pay for goods.
The bank plans new products and services for its private banking and wealth management operation.
