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FHB reports $68.6M in 1Q
Loans gain 8 pct to achieve a record $11B
HAGÅTÑA, Guam—First Hawaiian Bank, Hawaii’s largest bank announced net income of $68.6 million for first quarter ended March 31, 2016, a 21.4-percent increase over the comparable period of 2015.
For the three months ended March 31, 2016, First Hawaiian Bank achieved the following over the prior year:
• Total assets: $19.1 billion, up 1.9 percent.
• Total deposits: $16.1 billion, an increase of 5.8 percent.
• Total loans and leases: were a record $11.0 billion up 8.0 percent.
• Non-performing assets to total assets: 0.08 percent, a decrease of 38.5 percent
• Efficiency ratio: 41.52 percent
In the first quarter of 2016, First Hawaiian noted several accomplishments and milestones:
For the past five years in a row, Hawaii Business Magazine has recognized First Hawaiian Bank as one of Hawaii’s Best Places to Work. This year, the bank also placed in the Top 3 in the large company category.
The First Hawaiian Bank’s first quarter 2016 Business Activity Report (BAR) showed Hawaii credit and debit card same store sales volume were up by 5.35 percent with growth in 12 out of the 16 sectors. This was the 25th consecutive quarter of positive growth. Supermarkets, Shipping, Home Improvement and Utilities sectors all posted double digit gains for the first three months of 2016.
First Hawaiian Bank (www.fhb.com) with $19.1 billion in total assets was founded in 1858 and is Hawaii’s oldest and largest bank. It is a wholly-owned subsidiary of BNP Paribas, a leading global financial services institution. (PR)
