Hawaii State Federal Credit Union posted its 17th straight quarter of loan growth at the end of 2017 as membership in the 81-year-old financial institution topped 100,000.
The state’s second-largest credit union said Monday that loans rose 17.5 percent to $855.5 million from $728.2 million a year earlier. Consumer loans increased 20 percent during the year while home-equity loans gained 17 percent.
Earnings, however, fell 76.2 percent in the fourth quarter to $350,000 from $1.5 million. For the year, net income was down 28.5 percent to $4.7 million from $6.6 million in 2016.
Assets rose 4 percent to $1.54 billion from $1.48 billion.
Bacardi buys leftover stake of tequila maker
NEW YORK >> Bacardi Ltd. plans to swallow the rest of Patron Spirits in a deal that values the tequila maker at $5.1 billion.
Bacardi has held a minority stake in Patron since 2008. The two private companies Monday didn’t disclose terms of the deal for the remainder of Patron. The acquisition is expected to close in the first half of this year.
Bacardi is known for its namesake rum, but it also owns several other liquor brands including Grey Goose vodka, Bombay Sapphire gin and Dewar’s whiskey. Patron will join its tequila stable, which also includes Cazadores and Corzo.
Patron’s current top executives will remain in place, and co-founder John Paul DeJoria will become chairman emeritus and focus on philanthropy.
ON THE MOVE
The Anthology Marketing Group has announced the addition and promotion of three members to its public relations and advertising team.
>> Keith DeMello has returned as its vice president of public and government affairs in Anthology’s public Relations group. He has more than 20 years of communications and public relations experience in government, information technology and corporate and nonprofit industries. DeMello previously worked directly with the chief information officer in the state’s Office of Enterprise Technology Services.
>> Maribell Pabalan was promoted to assistant account executive from account coordinator in the company’s public relations group. In her new position, Pabalan will provide key support to the assigned client service teams.
>> Danielle Thomson is the media coordinator for the firm’s advertising group. Thomson’s responsibilities include supporting the internal media team to serve clients effectively, responsively, accurately and efficiently.
