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Strong loan growth boosts Bank of Hawaii’s earnings

Dave Segal
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BANK OF HAWAII
This courtesy photo shows the Bank of Hawaii branch in Kapolei.

 Bank of Hawaii Corp.’s loans jumped 13.2 percent in the fourth quarter and deposits continued to grow as the state’s second-largest bank topped analysts’ earnings estimates.

The bank reported Monday after the market closed that it had net income of $41.2 million, or 94 cents a share, compared with $39.1 million, or 88 cents a share, in the year-earlier quarter. Analysts were calling for earnings per share of 93 cents, according to Thomson Financial Network.

Deposits rose 6 percent to $12.6 billion from $11.9 billion.

Bank of Hawaii’s stock rose 97 cents, or 1.7 percent, to $57.65 during the regular trading session on the New York Stock Exchange.

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