comscore Loans help fuel 11.3% jump in Territorial's earnings | Honolulu Star-Advertiser
Top News

Loans help fuel 11.3% jump in Territorial’s earnings

[ AD HAS BEEN REMOVED FROM THIS STORY ]

The parent of Territorial Savings Bank boosted earnings 11.3 percent in the fourth quarter on the strength of a strong increase in residential mortgage loan originations.

 Territorial Bancorp Inc. said today that net income rose to $3.8 million, or 38 cents a share, from $3.4 million, or 33 cents a share, in the year-earlier period.

Loans receivable grew 12.6 percent to $774.9 million from $688.1 million despite an increase in prepayments of existing loans due to lower mortgage rates.

The state’s fifth-largest bank with $1.58 billion in assets said deposits rose 6.2 percent to $1.24 billion from $1.17 billion.

Territorial also maintained its quarterly dividend at 12 cents a share. It will be payable on March 4 to stockholders of record as of Feb. 18.

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature
Comments have been disabled for this story...

Scroll Up