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FHB posts $109.1M net income in first half of 2014
Loans and deposits achieve record levels for Q2
HAGÅTÑA, Guam—First Hawaiian Bank, Hawaii’s largest and oldest bank, announced yesterday 2014 first half net income of $109.1 million, up 4.4 percent over the first half of 2013.
Second quarter net income of $55.9 million was up 7.7 percent over the comparable quarter of 2013. First Hawaiian grew its total assets to $17.5 billion, an increase of 5.6 percent over 2013.
The bank’s loan and lease portfolio reached $9.6 billion and deposits achieved $14.1 billion for the second quarter of 2014, increases of 4.8 percent and 9.3 percent, respectively, compared to the second quarter of 2013.
The announcement was made by Bob Harrison, First Hawaiian Bank chairman, president, and CEO.
“First Hawaiian Bank finished the first half of 2014 very strong, building on the momentum of first quarter, in our second quarter, asset quality remained solid and we achieved record levels of loans and deposits,” said Harrison.
Compared to the previous year, for the first six months ending June 30, 2014, First Hawaiian achieved the following:
– Total assets reached a record $17.5 billion, up 5.6 percent.
– Total loans and leases were $9.6 billion, up 4.8 percent.
– Total deposits were a record $14.1 billion, an increase of 9.3 percent.
– Nonperforming assets to total assets remained one of the lowest in the banking industry at 0.17 percent.
– Efficiency ratio was 44.66 percent, making First Hawaiian the most productive bank in Hawaii and one of the most efficient in the nation.
During the second quarter of the year, the bank achieved another milestone when total assets reached $17.5 billion for the first time.
First Hawaiian Bank (www.fhb.com) with $17.5 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. (FHB)
