A robust economy continued to boost Bank of Hawaii’s double-digit loan growth in the second quarter, with earnings per share exceeding analysts’ expectations.
The state’s second-largest financial institution reported today a modest 0.9 percent increase in net income to $44.7 million, or $1.05 per share, beating Wall Street analysts’ projections by 2 cents. That compares to $44.2 million in the year-earlier quarter, or $1.03 per share.
Loans grew 12.7 percent to $9.4 billion from $8.3 billion, while deposits rose 8.4 percent to $14.8 billion from $13.6 billion. Assets increased 7.1 percent to $16.98 billion, up from $15.9 billion.