Central Pacific Financial Q3 Profit Up; Says On Track With Capital Plan

(RTTNews) - Central Pacific Financial Corp. (CPF) reported net income in the third quarter of 2017 of $11.8 million, or $0.39 per share, compared to net income in the third quarter of 2016 of $11.5 million, or $0.37 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share. Analysts' estimates typically exclude special items.

"Continued stable loan and deposit growth, as well as improved asset quality, were achieved with the favorable economic conditions in Hawaii and the execution of our business plan," said Catherine Ngo, President and CEO. "We are also on track with our capital plan and stock repurchase program."

Net interest income for the third quarter of 2017 was $42.0 million, compared to $39.4 million in the year-ago quarter.