Bank of Hawaii Corp’s earnings jumped nearly 11 percent in the third quarter on double-digit loan growth and continued strength in its deposits.
The state’s second-largest bank reported Monday it had earnings of $41.8 million, or 95 cents a share. That was up 10.8 percent from $37.7 million, or 85 cents a share, in the year-earlier period.
Loans grew 10 percent to $6.6 billion from the year-earlier quarter while deposits rose 6.5 percent to $12.4 billion.
"Our margin (the interest spread between loans and deposits) remained relatively stable as loan growth partially offset the lower interest rate environment," said Peter Ho, chairman, president and chief executive officer of Bankoh.