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Bank of Hawaii profits decline but assets, loans, deposits increase

By Dave Segal


Bank of Hawaii Corp.'s earnings fell 8.6 percent in the third quarter but assets, loans and deposits all rose from the year-earlier period.

The state's second-largest bank said today it had net income of $37.7 million, or 85 cents a share, compared with $41.2 million, or 92 cents a share, a year earlier.

Revenue declined 6.8 percent to $136 million from $146 million.

Assets, though, rose 3.5 percent to $13.8 billion from $13.4 billion.  Loans and leases increased 3.9 percent to $6 billion from $5.8 billion and deposits rose 3.5 percent to $11.6 billion from $11.2 billion.

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HD36 wrote:
How can anyone trust the balance of big banks? The assets, which primarily consist of loans are allowed to be valued, not at their market value, but based on a computer model which uses the best case scenario of loan repayments and interest rate environment. Collateral rehypothecation is the norm in this sector along with rubber stamped AAA ratings and the up front booking of profits from collateralized debt obligations. The Basel II regulation out of Sweden did nothing more than allow the banksters to game the system using mark to model CDOs with bogus AAA ratings as reserves, to increase their leveraged positions in interest rate swaps and othe derivitives. When the next black swan event happens all will be exposed as the domino effect takes down the banking system..again.
on October 28,2013 | 09:17AM
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