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Territorial Savings Bank parent's earnings up 43.5 percent

By Dave Segal

LAST UPDATED: 12:53 p.m. HST, Aug 06, 2010


The parent of Territorial Savings Bank posted a 43.5 percent increase in second-quarter earnings as its deposits and loans grew from the year-earlier period.

Territorial Bancorp Inc. said it had net income of $3.2 million, or 29 cents a share, for the period ended June 30 compared with $2.3 million a year ago before the company was publicly traded. 

The bank had its initial public offering on July 13, 2009.

Territorial also boosted its quarterly dividend 40 percent to 7 cents a share from 5 cents a share. It will be payable Sept. 2 to shareholders of record as of Aug. 19.

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