Ohana Pacific Bank increased its earnings 30.7 percent in the first quarter and announced it was declaring a special cash dividend of 12 cents a share.

The Honolulu-based bank said Thursday that net income rose to $200,000 from $153,000 in the year-earlier period as loans jumped 13.3 percent to $120.4 million. Deposits increased 11.8 percent to $133.8 million while assets gained 11.2 percent to $151.7 million.

Ohana Pacific said the dividend will be payable May 10 to shareholders who hold the stock on the record date of March 29.

The bank said it benefited from the Tax Cuts and Jobs Act, which went into effect Jan. 1 and reduced the federal corporate tax rate to 21 percent from 35 percent. Ohana Pacific said its quarterly tax fell 18.3 percent to $85,000 from $104,000 in the year-earlier period.

“The recent increases in loans, excellent credit quality and the lower corporate tax will positively impact future earnings,” Ohana Pacific President and CEO James Hong said.

Oahu attorney charged with tax violations

Special agents with the state Department of Taxation arrested an Oahu attorney who surrendered Monday for alleged numerous tax violations.

Deputy sheriffs also arrested him on an outstanding bench warrant for tax violations.

Noah Fiddler was charged April 20 in Circuit Court with five counts of willful failure to pay withholding taxes for 2011 to 2016, six counts of willful failure to file income tax returns for 2011 to 2015, and six counts of willful failure to file general excise tax returns for 2010 to 2015.

If convicted, Fiddler faces a maximum sentence of five years’ imprisonment and a $100,000 fine for each felony count of failure to collect and pay tax.

For each count of failing to file income tax and general excise tax returns, he could be imprisoned for a maximum of one year and owe a fine of $25,000 if convicted.

ON THE MOVE

Zephyr Insurance Co., a leading provider of residential hurricane insurance coverage in Hawaii, has announced that Tim Johns as its new president and chief executive officer. He previously served as a chief consumer officer at the Hawaii Medical Service Association. Prior to that, Johns held executive leadership positions in the public, private and nonprofit sectors, including president and chief executive officer of the Bishop Museum.

The Certified Financial Planner Board of Standards awarded Travis Tsukayama the Certified Financial Planner certification last month. Tsukayama is an investment adviser representative with Andrews Advisory Associates, which is a kamaaina registered investment adviser firm which serves retirees, business owners, professionals and trustees of retirement plans.