Thursday, November 26, 2015         

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Territorial earnings rise 4.6%

By Star-Advertiser staff


The holding company for Territorial Savings Bank said today it boosted its earnings 4.6 percent in the second quarter to $3.4 million, or 30 cents a share, from $3.2 million, or 29 cents a share, a year earlier.  

"Our core earnings for the second quarter remain solid,” Chairman and CEO Allan Kitagawa said. “We continue to make quality mortgage loans and maintain a favorable net interest margin in a tough economic environment.”

Territorial Bancorp Inc.'s board also maintained its dividend at 9 cents a share. It will be payable Sept. 1 to stockholders of record as of Aug. 18.

Territorial’s stock fell 36 cents today to $20.60 before the earnings were announced after the market closed.

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