Central Pacific Financial Corp., parent company of Central Pacific Bank, saw second-quarter net income fall nearly 18% compared with the same period in 2022.

The holding company for the state’s fourth-largest bank Wednesday reported second-quarter net income of $14.5 million, compared with net income of $17.6 million a year earlier. The company recorded earnings per share of 53 cents versus 64 cents in the year-ago quarter.

Total assets at the end of June were $7.57 billion, an increase of $268.4 million, or 3.7%, from $7.30 billion on June 30, 2022. Total deposits at the end of the most recent quarter were $6.81 billion, up $183.7 million, or 2.8%, from $6.62 billion a year earlier, company officials said.

“Central Pacific delivered solid results during the second quarter and further strengthened our balance sheet, liquidity and capital positions,” said Arnold Martines, the bank’s president and CEO. “We were successful in growing deposits by focusing on the needs of our longtime personal and business customers as well as attracting new relationships.”

Total loans as of June 30 were $5.52 billion, an increase of $219.1 million, or 4.1%, from $5.30 billion at the end of June 2022, the banking company said.

After the company released its earnings report, Central Pacific Financial’s stock rose 23 cents a share, or 1.26%, on Wednesday to close at $18.43.