/PRNewswire/ Central Pacific Financial Corp. (NYSE: CPF) (the "Company"), parent company of Central Pacific Bank (the "Bank"), today reported net income in.
Central Pacific Financial Corp Reports Increase In Second Quarter Earnings To $18 7 Million prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
HONOLULU, April 28, 2021 /PRNewswire/ Central Pacific Financial Corp. , parent company of Central Pacific Bank , today reported net income in the first quarter of 2021 of $18.0 million, or. | April 28, 2021
Share this article
Share this article
HONOLULU, April 28, 2021 /PRNewswire/ Central Pacific Financial Corp. (NYSE: CPF) (the Company ), parent company of Central Pacific Bank (the Bank ), today reported net income in the first quarter of 2021 of $18.0 million, or fully diluted earnings per share ( EPS ) of $0.64, compared to net income in the first quarter of 2020 of $8.3 million, or EPS of $0.29, and net income in the fourth quarter of 2020 of $12.2 million, or EPS of $0.43. Central Pacific Financial Corp. s first quarter 2021 results are the highest quarterly pre-tax income we have reported since 2007. With this strong start to 2021, combined with the Hawaii economy continuing to recover, we are pleased to announce an increase to our quarterly cash dividend, said Paul Yonamine, Chairman and Chief Executive Officer. We believe our RISE2020 investments have positioned us well, and we remain highly committed to continuing to deliver results and achievement of our financial
Central Pacific Financial Corp. Reports Fourth Quarter 2020 Quarterly And Annual Results
- Net income of $12.2 million, or $0.43 per diluted share for the fourth quarter, compared to net income of $6.9 million, or $0.24 per diluted share for the third quarter. Net income for the year was $37.3 million, or $1.32 per diluted share, compared to net income of $58.3 million, or $2.03 per diluted share in the previous year.
- The fourth quarter included nonrecurring expenses totaling $5.9 million primarily related to employee incentives and benefits, branch consolidation and other settlements.
- Allowance for credit losses to total loans ratio of 1.68% (or 1.83% excluding Paycheck Protection Program ( PPP ) loans) at December 31, 2020, compared to 1.60% (or 1.79% excluding PPP loans) at September 30, 2020.