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Bank holding companies

Bancorp Hawaii Reports 1995 Second Quarter Earnings, Outlines Positive Trends Amid Economic Challenges

Strategic Insights

— 1 min read

Bancorp Hawaii, Inc. reported a 16.4% decrease in 1995 second quarter earnings compared to the same period last year, with earnings per share standing at $0.68. Despite the decline, the company's interest rate margin widened substantially to 3.80% for the quarter, indicating a successful rebalancing of its asset mix and addressing interest rate sensitivity. Trust income also showed year-to-date growth exceeding 10% over the same period in 1994. The company's asset quality remains exceptionally strong, with non-performing assets (NPA) of $51.0 million representing a 4.3% decline from second quarter last year.

Key Takeaways:

  • Bancorp Hawaii reported 1995 second quarter earnings of $28.5 million, a 16.4% decrease from the same period in 1994.
  • Earnings per share for the second quarter of 1995 were $0.68, compared to $0.79 for the second quarter of 1994.
  • The company's interest rate margin widened substantially to 3.80% for the quarter, indicating a successful rebalancing of its asset mix and addressing interest rate sensitivity.
  • Trust income showed year-to-date growth exceeding 10% over the same period in 1994.
  • Bancorp's asset quality remains exceptionally strong, with NPA of $51.0 million representing a 4.3% decline from second quarter last year.
  • Reserve for loan losses totaled $150.3 million, representing 1.99% of loans outstanding.
  • Chairman and Chief Executive Officer Lawrence M. Johnson noted that the company's financial performance reflects its long-term approach to maintaining strong asset quality, investing in opportunities for growth, and controlling costs.
  • The company is pleased with its performance amid economic challenges and will continue to implement strategies that enhance its reputation as a leading financial services organization in Hawaii and throughout Asia and the Pacific.

Statistics:

  • Total assets on June 30, 1995 were $12.6 billion, a 0.6% decline from 1994's second quarter-end.
  • Deposits and repurchase agreements dipped to $9.3 billion from $9.4 billion at second quarter-end 1994.
  • Net loans increased to $7.4 from $7.2 billion reported at June 30, 1994.
  • The company's non-performing assets (NPA) of $51.0 million represent a 4.3% decline from second quarter last year.
  • Reserve for loan losses totaled $150.3 million, representing 1.99% of loans outstanding.

Sources:

  • Business Wire, July 20, 1995
  • Bank of Hawaii press release
  • Lawrence M. Johnson, Chairman and Chief Executive Officer of Bancorp Hawaii, Inc.

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