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Bank of Hawaii earnings hurt by lower rate environment

By Dave Segal

LAST UPDATED: 10:37 a.m. HST, Apr 22, 2013

Bank of Hawaii Corp.’s earnings declined 17.9 percent  in the first quarter as reduced mortgage income from the previous three months, a lower net interest margin and seasonal expenses dragged down results.

The state’s second-largest bank said today that net income fell to $36 million, or 81 cents a share, compared with $43.8 million, or 95 cents a share, in the year-earlier quarter.

Total loans and leases were up 3.3 percent to $5.8 billion from $5.6 billion a year earlier but down from $5.9 percent in the fourth quarter.

Analysts were forecasting earnings per share of 87 cents, according to Thomson Financial.

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serious wrote:
What the heck are seasonal expenses to a bank in Hawaii? Dave Segal--do your homework--ask questions--do some digging!!!
on April 22,2013 | 09:21AM
allie wrote:
Will they cut the absurdly high salary of Peter Ho?
on April 22,2013 | 10:02AM
Sunny wrote:
No, it's not even close to HEI CEO Connie Lau's!
on April 22,2013 | 11:39AM
jcjr wrote:
Doesn't surprise me. After doing business with many local financial institutes I find that BOH has the worst customer service. They are only good for checking and savings, but for loans, check out other institutes such as First Hawaiian Bank.
on April 22,2013 | 11:00AM
Hapa_Haole_Boy wrote:
Agreed. FHB is first choice in Hawaii.
on April 22,2013 | 11:46AM
serious wrote:
But it's owned by whom????
on April 22,2013 | 12:40PM
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