First Hawaiian’s earnings rise as margin soars
First Hawaiian Inc., the holding company, saw its earnings increase to $69 million, or 54 cents a share, to match analysts’ consensus estimate. Read more
First Hawaiian Inc., the holding company, saw its earnings increase to $69 million, or 54 cents a share, to match analysts’ consensus estimate. Read more
The state’s fifth-largest bank posted net income of $3.9 million, or 44 cents a share, to beat analysts’ consensus estimate of 42 cents. Read more
Bank of Hawaii Corp. showed strong loan growth in the third quarter but saw its stock price tumble to a 52-week low Monday after reporting a 14.9% decline in net income primarily due to some one-time items. Read more
The parent of Hawaiian Airlines reported in a Securities and Exchange Commission filing Monday that due to accounting errors it had a combined $19.4 million in net unrealized losses in its first- and second-quarter financial reports and that it will need to restate its results. Read more
The state’s second-largest bank took a one-time, pre-tax charge of $6.9 million related to its agreement to sell assets that will terminate leveraged leases related to 31 locomotives. Read more
Central Pacific Bank said Thursday its loan activity is still performing well despite a nationwide housing slowdown because of the company’s joint ventures with developers and real estate brokerages. Read more
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In what could be a local adaptation of a Horatio Alger novel, Central Pacific Financial Corp. on Thursday named Arnold Martines — who grew up in the tiny Big Island town of Paauilo — to be the next chief executive officer of the state’s fourth-largest bank. Read more
Hawaii’s unemployment rate plunged in September to 3.5%, its lowest level since before the pandemic, as the state grew its nonagricultural payroll ranks by 2,700 from the previous month. Read more
Paul Yonamine will retire at the end of the year and remain as chairman emeritus. Read more
Matson Inc. said a 15.1% drop in demand from its China service and easing port congestion in Southern California led to an expected decline in net income in the third quarter, according to preliminary results that the company issued Monday. Read more
There was a lull in statewide bankruptcy filings in September as the number of cases declined 10.5% to its lowest level in four months. Read more
Hawaii auto dealers and consumers have been forced to change gears amid a global microchip shortage that has transformed the vehicle shopping experience. Read more
High inflation and rising interest rates could be putting the squeeze now on Hawaii consumers’ finances. Read more
Oahu’s housing market continued its yearlong slowdown in August as sales declined by about a quarter for the second straight month, bidding wars subsided and the median price for condominiums dipped 0.3% to fall below $500,000 for the first time in six months. Read more
Hawaiian Telcom expanded its fiber-optic infrastructure to more than 22,000 homes and businesses during the first half of this year and said Wednesday it is on target to achieve its goal of enabling a total of 50,000 homes by year-end. Read more
In a fiscal year fraught with geopolitical unrest, supply-chain issues, rising inflation and a bearish stock market, the state’s largest public pension fund capitalized on its risk-averse strategy to finish in positive territory. Read more
Cars and light trucks continued to move off Hawaii dealers’ lots at a snail’s pace during the first half of the year amid tight supplies that have prompted consumers to postpone making purchases. Read more
Barnwell Industries Inc. said its strong liquidity has positioned the company to declare its first quarterly dividend in nearly 14 years. Read more
Maui Land & Pineapple Co.’s net income jumped fivefold in the second quarter after it completed two land sales that brought in $11.6 million. Read more
Hawaii island microalgae products producer Cyanotech Corp. reported Wednesday that it swung to a $472,000 loss in its fiscal first quarter as sales plunged 25.1%. Read more
Hawaiian Electric Industries Inc. posted a 17.7% drop in second-quarter earnings as utility maintenance expenses increased and subsidiary American Savings Bank set aside money for potential loan losses after releasing a significant amount from its loan-loss reserve in the year- earlier period. Read more