comscore Bankoh earnings jump 64% amid improving economy
Top News

Bankoh earnings jump 64% amid improving economy

Honolulu Star-Advertiser logo
Unlimited access to premium stories for as low as $12.95 /mo.
Get It Now

Bank of Hawaii Corp.’s earnings surged 64% in the third quarter as the company hit a record $23 billion in total assets and released $10.4 million from its loan-loss reserve amid an improving economy.

The state’s second-largest bank said today it earned $62.1 million, or $1.52 a share, to blow past analysts’ estimates of $1.33 a share.

In the year-earlier quarter, Bankoh had earnings of $37.8 million, or 95 cents a share, when it set aside $28.6 million for potential loan losses.

Shares of the company rose $1.24, or 1.4%, to $87.70 after the earnings were announced. Bankoh said last quarter it repurchased $20 million worth of shares under its buyback program at an average cost of $82.89 a share.

Comments (4)

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.

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

Scroll Up