comscore Strong loan growth propels Territorial's earnings | Honolulu Star-Advertiser
Every act of aloha counts. Click here to DONATE to the MAUI RELIEF Fund.
Business | Top News

Strong loan growth propels Territorial’s earnings

Honolulu Star-Advertiser logo
Unlimited access to premium stories for as low as $12.95 /mo.
Get It Now
  • Craig T. Kojima / Ckojima@staradvertiser.com
    Territorial Savings Bank’s parent has been buying back shares and increasing its dividend to boost shareholder returns.

Territorial Savings Bank’s parent company said today its earnings rose 6.5 percent in the third quarter as new loan originations more than doubled during the first nine months of this year. 

The state’s fifth-largest bank, which generates more than 95 percent of its loans from residential mortgages, posted net income of $3.7 million, or 40 cents a share, compared with $3.5 million, or 37 cents a share, in the year-earlier quarter. 

New loan originations jumped 116 percent through Sept. 30 to $364.01 million from $168.56 million during the same period a year ago. Loans receivable grew 20.1 percent through the first nine months to $1.16 billion from $968,212 on Dec. 31. 

Comments have been disabled for this story...

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

Scroll Up