HONOLULU (AP) — Bank of Hawaii ‘s fourth-quarter net income fell 3 percent as it made less money from charges, loans and deposits, yet it still topped most Wall Street expectations.
The state’s second-biggest bank said Monday that Hawaii’s economy is getting better, as visitor arrivals and spending climb.
Bank of Hawaii earned $39.2 million, or 85 cents per share, for the three months ended Dec. 31. That compares with earnings of $40.6 million, or 84 cents per share, a year ago.
Analysts surveyed by FactSet expected earnings of 82 cents per share.
Net interest income , or income from loans and deposits, dipped to $96.2 million from $96.3 million.
Provision for credit losses dropped to $2.2 million from $5.3 million.
Noninterest income , or income from charges and fees, declined to $43.4 million from $51.5 million.
For the year, net income dropped to $160 million, or $3.39 per share, from $183.9
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