Bank of Hawaii Reports Better-Than-Expected Q2 Earnings
Bank of Hawaii Corporation (NYSE:BOH) reported second-quarter earnings that exceeded Wall Street expectations, with diluted earnings per share reaching $1.47 against a forecast of $1.46. The bank's net income rose by 11.1% to $63.8 million compared to the previous quarter, while net interest income increased slightly to $153.6 million and its net interest margin expanded for the ninth consecutive quarter. Despite a slight decline in total deposits of 1.4%, credit quality remained strong with non-performing assets at just 0.08% of loans. The bank also continued its capital return strategy, repurchasing shares worth $17 million and announcing a quarterly dividend of $0.70 per share to be paid on September 15. The company's performance was attributed to disciplined balance sheet management and the ongoing repricing of interest-earning assets.
Tickers: $BOH