Tuesday, July 22, 2014         

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Territorial's earnings jump 13.6%

By Dave Segal


Territorial Bancorp ‘s earnings rose 13.6 percent in the second quarter as loans and deposits grew and the quality of its mortgage portfolio improved.

The parent of Territorial Savings Bank said today it had net income of $3.8 million, or 37 cents a share, compared with $3.4 million, or 30 cents a share, a year ago. Analysts were forecasting 32 cents a share.

Territorial also added $79,000 to income that previously had been set aside for potential loan losses.  

The bank maintained its quarterly dividend at 11 cents a share. It will be paid on Aug. 30 to stockholders of record as of Aug. 16.

Territorial’s stock closed today up 42 cents, or 1.8 percent, at $23.19 on the Nasdaq. 

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