Bank of Hawaii has reported a net income of $39.2m, or $0.85 diluted earnings per share, for the fourth quarter of 2011, compared to $40.6m, or $0.84 diluted earnings per share, for the same period in 2010.
Net interest income, on a taxable equivalent basis, for the fourth quarter of 2011 was $97.2m, compared to $96.6m for the same period a year ago.
Noninterest income was $43.4m, compared to $51.5m for the same period a year ago.
Provision for credit losses dropped to $2.2m from $5.3m.
Bank of Hawaii chairman, president, and CEO Peter Ho said that during the quarter, our loan balances increased across most categories. Our balance sheet has high levels of liquidity, capital, and reserves due to their continued focus on disciplined capital and risk management.
"During the quarter we reduced our shares outstanding by 1.3 percent and maintained our quarterly dividend of $0.45 per share," added Ho.