Bank Of Hawaii Q4 Earnings Fall, But Beat Estimates

(RTTNews) - Bank of Hawaii Corporation (BOH), a regional commercial lender, on Monday posted a decline in earnings for the fourth-quarter. However, the company's earnings beat the Street view.

For the three-month period to December 31, the Honolulu-headquartered bank posted income of $59.338 million or $1.50 per share, compared with $61.868 million or $1.55 per share of a year ago.

Six analysts, on average, polled by Thomson-Reuters were estimating the firm to report earnings per share of $1.42, for the quarter.

Net interest income was at $140.738 million, versus $126.388 million of same period last year.

Non-interest income stood at $41.172 million, lesser than previous year's $42.574 million.

Noninterest expense moved up to $102.703 million, higher than $101.678 million of previous year quarter.

The company also registered a $0.2 million provision for credit losses for the fourth quarter, compared with a net benefit of $9.7 million in the same quarter of 2021.

The Bank of Hawaii has declared a quarterly cash dividend of $0.70 per share, payable on March 14, to shareholders of record on February 28.