comscore Loan growth powers Bankoh’s earnings up 7.5% | Honolulu Star-Advertiser
Business Breaking | Top News

Loan growth powers Bankoh’s earnings up 7.5%

  • BRUCE ASATO / APRIL 2012

    “The quarter reflects strong market and economic activity here in the islands,” Peter Ho, Bank of Hawaii chairman, president and CEO.

Bank of Hawaii Corp.’s net income rose 7.5 percent in the second quarter as strong loan growth helped the company blow past analysts’ expectations.

The state’s second largest bank said today it earned $44.2 million, or $1.03 a share, to beat analysts’ estimates by 10 cents. Bankoh earned $41.2 million, or 95 cents a share, in the year-earlier period.

“The quarter reflects strong market and economic activity here in the islands,” Peter Ho, chairman, president and CEO, said in a telephone interview after the bank’s earnings conference call. “We got nice loan growth across almost every category. We had nice deposit growth — particularly consumer and commercial deposit growth was very strong. And really the strength of the housing market enabled us to have a very solid month in residential mortgage and gave us some additional fee income in the quarter.”

Loans jumped 12.2 percent to $8.3 billion from $7.4 billion while deposits rose 4.2 pecent to $13.6 billion from $13.1 billion.

Bankoh’s shares bucked a down day for the major stock indexes and closed up 89 cents, or 1.3 percent, at $69.54.

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 (0)

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Leave a Reply

Scroll Up