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Territorial’s net income rises 13 percent

Territorial Bancorp Inc.’s earnings jumped 13 percent in the third quarter amid continued strong loan growth.

The parent of Territorial Savings Bank said today that net income rose to $4.2 million, or 45 cents a share, to beat analysts’ estimates by a penny. A year earlier, Territorial had earnings of $3.7 million, or 40 cents a share.

Territorial maintained its quarterly dividend at 18 cents a share. It will be payable on Nov. 25 to stockholders of record as of Nov. 10. Territorial has now paid dividends for 28 consecutive quarters since going public in 2009.

Loans receivable jumped 12 percent to $1.30 billion from $1.16 billion while deposits increased 4 percent to $1.46 billion from $1.41 billion.

Territorial’s stock closed today down 12 cents at $28.38. The earnings were announced after the market closed.

One response to “Territorial’s net income rises 13 percent”

  1. kennie1933 says:

    Wonder if Caldwell will now get a raise?

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