Deposits, improved credit lift Bankoh profits 15.9%

By Dave Segal

POSTED: 01:30 a.m. HST, Jul 24, 2012

~~<p>Bank of Hawaii Corp.'s earnings jumped 15.9 percent in the second quarter as deposits soared and it set aside less money to cover potential loan losses.</p>
<p>The state's second-largest bank said Monday it had net income of $40.7 million, or 90 cents a share, to beat analysts' forecast of 87 cents. Deposits climbed 15.7 percent to $11.5 billion while loans and leases rose 6 percent to $5.7 billion.</p>
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Bank of Hawaii Corp.'s earnings jumped 15.9 percent in the second quarter as deposits soared and it set aside less money to cover potential loan losses.

The state's second-largest bank said Monday it had net income of $40.7 million, or 90 cents a share, to beat analysts' forecast of 87 cents. Deposits climbed 15.7 percent to $11.5 billion while loans and leases rose 6 percent to $5.7 billion. Login for more...