comscore First Hawaiian Bank posts most profitable year ever | Honolulu Star-Advertiser
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First Hawaiian Bank posts most profitable year ever

  • STAR-ADVERTISER / MAY 28, 1998

    A woman walks near the entrance to the First Hawaiian Bank building on King and Bishop streets.

First Hawaiian Bank, which appears headed for an initial public offering, ended what could be its last full year as a subsidiary of BNP Paribas by achieving its second-highest quarterly net income ever and the most profitable year in its 157-year history.

The state’s largest bank also achieved record levels of assets, loans and deposits.

First Hawaiian reported today that net income for the quarter rose 3.6 percent to $63.6 million and increased 4.3 percent for the year to $236.1 million. Its most profitable quarter ever was in the January-March period of 2009 when it made $74.5 million. Its previous best year also was 2009 when it made $230.5 million.

Assets increased last quarter by 6.7 percent to $19.3 billion, loans rose 6.9 percent to $10.7 billion and deposits gained 9.1 percent to $16.1 billion.

As a wholly owned subsidiary of the French banking giant, First Hawaiian isn’t required to publicly release its earnings but has been doing so on a voluntary basis. However, given the uncertainty of Securities and Exchange Commission requirements and BNP’s plans for the bank, First Hawaiian delayed its earnings announcement until Tuesday and said it would not provide any comments regarding its financial results.

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