Bankoh beats analysts' forecasts despite dip in earnings
May 26, 2017 | 80° | Check Traffic

Top News

Bankoh beats analysts’ forecasts despite dip in earnings

  • COURTESY BANK OF HAWAIIThis file photo shows Bank of Hawaii’s Kapolei branch.
    This file photo shows Bank of Hawaii’s Kapolei branch.

Bank of Hawaii Corp. said today its net income slipped 3.1 percent in the fourth quarter as mortgage banking revenue dropped sharply from the year-earlier period.

The state’s second-largest bank still beat analysts’ forecasts, however, as it posted a profit of $39.1 million, or 88 cents a share, compared with $40.3 million, or 90 cents a share, a year ago. Analysts were estimating an average of 86 cents a share for last quarter.

Bankoh’s noninterest income, which includes the mortgage banking revenue, fell 14.5 percent to $45.3 million from $53 million. It had mortgage banking revenue of $2.8 million in the fourth quarter, down 75 percent from $11.3 million a year ago.

In other areas, the bank’s assets rose 2.6 percent to $14.1 billion, loans and leases increased 4.1 percent to $6.1 billion and deposits were up 3.3 percent to $11.9 billion.

No comments
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, email