Hawaii-based bank stocks struggled for much of 2019 as low interest rates cut into the margins they could make between lending money to borrowers and paying for customers’ deposits.

But by the end of the year, the bank stocks began regaining their footing and ended up with some of the best gains of local publicly traded companies.

Bank of Hawaii Corp., despite not having any buy recommendations from analysts, soared 41.4% to close the year at $95.16, the highest priced stock of any Hawaii company. The state’s second-largest bank also finished with the second-highest market capitalization at $3.83 billion.

First Hawaiian Inc., the state’s largest bank, rose 28.2% to finish at $28.85. Its market cap of $3.78 billion was the third largest among local stocks, while its 3.6% dividend yield matched the largest of any Hawaii company.

Hawaiian Electric Industries Inc., which owns the state’s largest utility as well as American Savings Bank, gradually rose all year to finish with a 28% gain at $46.86. Investors turned to higher-dividend- paying utility stocks for much of the year for defensive purposes when the U.S.-China trade war was at its zenith.

HEI, which has the state’s highest market cap at $5.11 billion, offers a dividend yield of 2.7%. American Savings is the state’s third-largest bank.

Matson Inc., the state’s largest ocean cargo transportation firm, snuck in between some of the banks among the strongest returns as its shares increased 27.4% to $40.80

Central Pacific Financial Corp., holding company for the state’s fourth-largest bank, posted a 21.5% gain to $29.58.

Territorial Bancorp Inc. finished close behind Central Pacific with a 21.4% return to $30.94.

Alexander &Baldwin Inc., a real estate investment trust that both owns and develops real estate, gained 14% to $20.96 and offered a 3.6% dividend yield.

Maui Land &Pineapple Co. rose 13.4% to $11.25.

Hawaiian Holdings Inc., parent of Hawaiian Airlines, gained 10.9% to $29.29 as it dealt with the incursion of Southwest Airlines in the Hawaii market.

Barnwell Industries Inc., which is involved in oil and natural gas, real estate development on Hawaii island and statewide water drilling, fell 22.6% to $1.03.

Cyanotech Corp., a producer and seller of nutritional microalgae, fell 24.2% to $2.29.

Cardax Inc., which produces the anti-inflammatory product ZanthoSyn, plunged 74.6% to 5 cents.