Central Pacific Financial Reports Fourth Quarter Earnings of $20.2 Million and Full Year 2022 Earnings of $73.9 Million

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  • Internet revenue of $20.2 million, or $0.74 per diluted share for the fourth quarter. Internet revenue of $73.9 million, or $2.68 per diluted share for the 2022 yr.
  • ROA of 1.09% and ROE of 18.30% for the fourth quarter. ROA of 1.01% and ROE of 15.47% for the 2022 yr.
  • Whole loans of $5.56 billion elevated by $133.3 million, or 2.5% (10.0% annualized) within the fourth quarter. Whole loans elevated by $453.8 million, or 8.9% for the 2022 yr.
  • Whole deposits of $6.74 billion elevated by $179.8 million, or 2.7% (10.8% annualized) within the fourth quarter. Whole deposits elevated by $97.1 million, or 1.5% for the 2022 yr.
  • Internet curiosity revenue elevated by $0.9 million, or 1.7% from the earlier quarter. Internet curiosity margin of three.17% was in keeping with the earlier quarter. Internet curiosity margin, excluding PPP loans, of three.16% elevated by 3 bps from the earlier quarter.
  • Board of Administrators accredited quarterly money dividend of $0.26 per share and new $25 million share repurchase program.

Central Pacific Monetary Corp. (NYSE: CPF) (the “Firm”), mother or father firm of Central Pacific Financial institution (the “Financial institution” or “CPB”), in the present day reported web revenue for the fourth quarter of 2022 of $20.2 million, in comparison with $16.7 million within the earlier quarter and $22.3 million within the year-ago quarter. Totally diluted earnings per share (“EPS”) of $0.74 for the fourth quarter of 2022 mirrored a 21% enhance from $0.61 within the earlier quarter and a 8% lower from $0.80 within the year-ago quarter. For the 2022 yr, web revenue was $73.9 million, or EPS of $2.68, in comparison with web revenue of $79.9 million, or EPS of $2.83 final yr.

“We ended the 2022 yr efficiently with sturdy mortgage, deposit and web curiosity revenue development,” mentioned Arnold Martines, President and Chief Govt Officer. “On the similar time, we continued to have stable asset high quality, liquidity and capital positions. We imagine the Hawaii economic system can be resilient and fare higher than the remainder of the nation due to our sturdy housing and tourism markets, in addition to the big navy presence in our State. I wish to thank our hard-working and dedicated workforce of staff, in addition to our prospects for his or her ongoing assist of our financial institution.”

Earnings Highlights

Internet curiosity revenue for the fourth quarter of 2022 was $56.3 million, a rise of $0.9 million, or 1.7% from the earlier quarter, and a rise of $3.2 million, or 6.0% from the year-ago quarter. The sequential quarter enhance in web curiosity revenue is primarily as a consequence of larger asset yields and continued sturdy mortgage development which outpaced the rise in charges paid on deposits. Internet curiosity revenue within the fourth quarter of 2022 included $0.1 million in web PPP curiosity revenue and costs, in comparison with $0.7 million and $4.7 million, within the earlier and year-ago quarters, respectively. Internet curiosity revenue for the 2022 yr included $3.6 million in web PPP curiosity revenue and costs, in comparison with $26.4 million for the 2021 yr.

Internet curiosity margin (“NIM”) for the fourth quarter of 2022 was 3.17%, which remained unchanged from the earlier quarter and elevated by 9 foundation factors (“bps”) from the year-ago quarter. NIM, excluding PPP loans, of three.16% elevated by 3 bps from the earlier quarter. The rise in NIM, excluding PPP loans, was primarily attributable to larger yields earned through the quarter on funding securities and core loans, or whole loans excluding PPP loans, partially offset by will increase in charges paid on deposits and borrowings. Extra data on common balances, curiosity revenue and bills and yields and charges is introduced in Tables 4, 5 and 10.

Within the fourth quarter of 2022, the Firm recorded a provision for credit score losses of $0.6 million, in comparison with a provision of $0.4 million within the earlier quarter and a launch of the credit score loss reserves of $7.7 million within the year-ago quarter.

Different working revenue for the fourth quarter of 2022 totaled $11.6 million, in comparison with $9.6 million within the earlier quarter and $11.6 million within the year-ago quarter. The rise from the earlier quarter was primarily as a consequence of larger revenue from bank-owned life insurance coverage. Extra data on different working revenue is introduced in Desk 3.

Different working expense for the fourth quarter of 2022 totaled $40.4 million, in comparison with $42.0 million within the earlier quarter and $42.4 million within the year-ago quarter. The lower in different working expense from the earlier quarter was primarily as a consequence of decrease web occupancy and promoting bills. Extra data on different working expense is introduced in Desk 3.

The effectivity ratio for the fourth quarter of 2022 was 59.56%, in comparison with 64.62% within the earlier quarter and 65.61% within the year-ago quarter.

The efficient tax price for the fourth quarter of 2022 was 24.9%, in comparison with 26.2% within the earlier quarter and 25.4% within the year-ago quarter.

Stability Sheet Highlights

Whole belongings at December 31, 2022 of $7.43 billion elevated by $95.1 million, or 1.3% from $7.34 billion at September 30, 2022, and elevated by $13.7 million, or 0.2% from $7.42 billion at December 31, 2021.

Whole loans, web of deferred charges and prices, at December 31, 2022 of $5.56 billion elevated by $133.3 million, or 2.5% from $5.42 billion at September 30, 2022, and elevated by $453.8 million, or 8.9%, from $5.10 billion at December 31, 2021. Loans by kind and geographic distribution are summarized in Desk 6.

Whole deposits at December 31, 2022 of $6.74 billion elevated by $179.8 million or 2.7% from $6.56 billion at September 30, 2022, and elevated by $97.1 million, or 1.5%, from $6.64 billion at December 31, 2021. Core deposits, which embrace demand deposits, financial savings and cash market deposits and time deposits as much as $250,000, totaled $6.08 billion at December 31, 2022, and elevated by $38.8 million from September 30, 2022. Core deposit and whole deposit balances are summarized in Desk 7.

Asset High quality

Nonperforming belongings at December 31, 2022 totaled $5.3 million, or 0.07% of whole belongings, in comparison with $4.2 million, or 0.06% of whole belongings at September 30, 2022, and $5.9 million, or 0.08% of whole belongings at December 31, 2021. Extra data on nonperforming belongings, late and restructured loans is introduced in Desk 8.

Internet charge-offs within the fourth quarter of 2022 totaled $1.7 million, in comparison with web charge-offs of $1.6 million within the earlier quarter, and web recoveries of $0.9 million within the year-ago quarter.

The allowance for credit score losses, as a proportion of whole loans at December 31, 2022 was 1.15%, in comparison with 1.19% at September 30, 2022, and 1.33% at December 31, 2021. Extra data on web charge-offs and recoveries and the allowance for credit score losses is introduced in Desk 9.

Capital

Whole shareholders’ fairness was $452.9 million at December 31, 2022, in comparison with $438.5 million and $558.2 million at September 30, 2022 and December 31, 2021, respectively. The decline in shareholders’ fairness from a yr in the past was primarily as a consequence of a rise in unrealized losses on our available-for-sale funding securities portfolio which is included in collected different complete revenue, and had been pushed by the rising rate of interest surroundings.

At December 31, 2022, the Firm’s leverage capital, tier 1 risk-based capital, whole risk-based capital, and customary fairness tier 1 ratios had been 8.5%, 11.3%, 13.5%, and 10.5%, respectively, in comparison with 8.7%, 11.5%, 13.7%, and 10.6%, respectively, at September 30, 2022.

On January 24, 2023, the Firm’s Board of Administrators declared a quarterly money dividend of $0.26 per share on its excellent widespread shares. The dividend can be payable on March 15, 2023 to shareholders of report on the shut of enterprise on February 28, 2023.

On January 24, 2023, the Firm’s Board of Administrators additionally approved the repurchase of as much as $25 million of its widespread inventory occasionally within the open market or in privately negotiated transactions, pursuant to a newly approved share repurchase program (the “Repurchase Plan”). The Repurchase Plan replaces and supersedes in its entirety the share repurchase program beforehand accredited by the Firm’s Board of Administrators, which had $10.3 million in remaining repurchase authority as of December 31, 2022. Through the fourth quarter of 2022, the Firm repurchased 241,203 shares of widespread inventory, at a complete value of $4.9 million, or a median value per share of $20.41. Through the yr ended December 31, 2022, the Firm returned $49.2 million in capital to its shareholders by money dividends and share repurchases.

Key Enterprise Highlights through the fourth quarter included the next:

  • Arnold Martines, a veteran of the native banking trade and Central Pacific Financial institution, was promoted to President & CEO of Central Pacific Financial institution and Central Pacific Monetary.
  • Newsweek named Central Pacific Financial institution one of many Finest Banks in Hawaii.
  • Jason Fujimoto, President & CEO of HPM Constructing Provide on the island of Hawaii, was named to the boards of CPB and CPF.
  • The Central Pacific Financial institution Basis once more contributed generously to the area people with whole donations in 2022 of $1.3 million.
  • Locally, the Financial institution launched a significant small enterprise advertising marketing campaign aimed toward a key buyer section and space of strategic focus for the Financial institution.

Convention Name

The Firm’s administration will host a convention name in the present day at 1:00 p.m. Jap Time (8:00 a.m. Hawaii Time) to debate the quarterly outcomes. People are inspired to take heed to the reside webcast of the presentation by visiting the investor relations web page of the Firm’s web site at http://ir.cpb.bank. Alternatively, traders could take part within the reside name by dialing 1-844-200-6205 (entry code: 274117). A playback of the decision can be obtainable by February 24, 2023 by dialing 1-866-813-9403 (entry code: 649427) and on the Firm’s web site. Info which can be mentioned within the convention name is offered in an earnings complement presentation on the Firm’s web site at http://ir.cpb.bank.

About Central Pacific Monetary Corp.

Central Pacific Monetary Corp. is a Hawaii-based financial institution holding firm with roughly $7.43 billion in belongings as of December 31, 2022. Central Pacific Financial institution, its major subsidiary, operates 27 branches and 64 ATMs within the state of Hawaii. For added data, please go to the Firm’s web site at http://www.cpb.bank.

Equal Housing Lender

Member FDIC

CPF Listed NYSE

Ahead-Wanting Statements (“FLS”)

This doc could include FLS regarding: projections of revenues, bills, revenue or loss, earnings or loss per share, capital expenditures, the cost or nonpayment of dividends, capital place, credit score losses, web curiosity margin or different monetary gadgets; statements of plans, aims and expectations of Central Pacific Monetary Corp. or its administration or Board of Administrators, together with these regarding enterprise plans, use of capital sources, services or products and regulatory developments and regulatory actions; statements of future financial efficiency together with anticipated efficiency outcomes from our enterprise initiatives; or any statements of the assumptions underlying or regarding any of the foregoing. Phrases equivalent to “believes,” “plans,” “anticipates,” “expects,” “intends,” “forecasts,” “hopes,” “concentrating on,” “proceed,” “stay,” “will,” “ought to,” “estimates,” “could” and different related expressions are meant to determine FLS however usually are not the unique technique of figuring out such statements.

Whereas we imagine that our FLS and the assumptions underlying them are moderately based mostly, such statements and assumptions are by their nature topic to dangers and uncertainties, and thus may later show to be inaccurate or incorrect. Accordingly, precise outcomes may differ materially from these statements or projections for a wide range of causes, together with, however not restricted to: the results of inflation and rising rates of interest; the opposed results of the COVID-19 pandemic virus (and ongoing pandemic variants) on native, nationwide and worldwide economies, together with, however not restricted to, the opposed affect on tourism and development within the State of Hawaii, our debtors, prospects, third-party contractors, distributors and staff in addition to the results of presidency applications and initiatives in response to COVID-19; the affect of our participation within the Paycheck Safety Program (“PPP”) and success of presidency ensures on our PPP loans; the rise in stock or opposed situations in the actual property market and deterioration within the development trade; opposed adjustments within the monetary efficiency and/or situation of our debtors and, in consequence, elevated mortgage delinquency charges, deterioration in asset high quality, and losses in our mortgage portfolio; our capacity to realize the aims of our RISE2020 initiative; our capacity to efficiently implement and obtain the aims of our Banking-as-a-Service (“BaaS”) initiatives, together with adoption of the initiatives by prospects and dangers confronted by any of our financial institution collaborations together with reputational and regulatory danger; the affect of native, nationwide, and worldwide economies and occasions (together with pure disasters equivalent to wildfires, volcanic eruptions, hurricanes, tsunamis, storms, earthquakes and pandemic viruses and illnesses) on the Firm’s enterprise and operations and on tourism, the navy, and different main industries working throughout the Hawaii market and some other markets during which the Firm does enterprise; deterioration or malaise in home financial situations, together with any destabilization within the monetary trade and deterioration of the actual property market, in addition to the affect of declining ranges of shopper and enterprise confidence within the state of the economic system normally and in monetary establishments specifically; adjustments in estimates of future reserve necessities based mostly upon the periodic assessment thereof below related regulatory and accounting necessities; the affect of the Dodd-Frank Wall Road Reform and Shopper Safety Act (the “Dodd-Frank Act”), adjustments in capital requirements, different regulatory reform and federal and state laws, together with however not restricted to rules promulgated by the Shopper Monetary Safety Bureau (the “CFPB”), government-sponsored enterprise reform, and any associated guidelines and rules which have an effect on our enterprise operations and competitiveness; the prices and results of authorized and regulatory developments, together with authorized proceedings or regulatory or different governmental inquiries and proceedings and the decision thereof, the outcomes of regulatory examinations or opinions and the impact of, and our capacity to adjust to, any rules or regulatory orders or actions we’re or could turn into topic to; capacity to efficiently implement our initiatives to decrease our effectivity ratio; the results of and adjustments in commerce, financial and monetary insurance policies and legal guidelines, together with the rate of interest insurance policies of the Board of Governors of the Federal Reserve System (the “FRB” or the “Federal Reserve”); securities market and financial fluctuations, together with the anticipated alternative of the London Interbank Supplied Charge (“LIBOR”) Index and the affect on our loans and debt that are tied to that index and uncertainties concerning potential various reference charges, together with the Secured In a single day Financing Charge (“SOFR”); destructive traits in our market capitalization and opposed adjustments within the worth of the Firm’s widespread inventory; political instability; acts of conflict or terrorism; adjustments in shopper spending, borrowings and financial savings habits; failure to take care of efficient inside management over monetary reporting or disclosure controls and procedures; cybersecurity and knowledge privateness breaches and the consequence therefrom; the flexibility to handle deficiencies in our inside controls over monetary reporting or disclosure controls and procedures; technological adjustments and developments; adjustments within the aggressive surroundings amongst monetary holding corporations and different monetary service suppliers; the impact of adjustments in accounting insurance policies and practices, as could also be adopted by the regulatory businesses, in addition to the Public Firm Accounting Oversight Board (“PCAOB”), the Monetary Accounting Requirements Board (“FASB”) and different accounting normal setters and the fee and sources required to implement such adjustments; our capacity to draw and retain key personnel; adjustments in our personnel, group, compensation and profit plans; and our success at managing the dangers concerned within the foregoing gadgets.

For additional data with respect to elements that would trigger precise outcomes to materially differ from the expectations or projections acknowledged within the FLS, please see the Firm’s publicly obtainable Securities and Trade Fee filings, together with the Firm’s Type 10-Ok for the final fiscal yr and, specifically, the dialogue of “Danger Components” set forth therein. We urge traders to think about all of those elements rigorously in evaluating the FLS contained on this doc. FLS communicate solely as of the date on which such statements are made. We undertake no obligation to replace any FLS to replicate occasions or circumstances after the date on which such statements are made, or to replicate the prevalence of unanticipated occasions besides as required by legislation.

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Monetary Highlights

(Unaudited)

TABLE 1

 

 

 

Three Months Ended

 

12 months Ended

({Dollars} in 1000’s,

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

 

Dec 31,

apart from per share quantities)

 

2022

 

2022

 

2022

 

2022

 

2021

 

2022

 

2021

CONDENSED INCOME STATEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet curiosity revenue

 

$

56,285

 

 

$

55,365

 

 

$

52,978

 

 

$

50,935

 

 

$

53,096

 

 

$

215,563

 

 

$

211,047

 

Provision (credit score) for credit score losses

 

 

571

 

 

 

362

 

 

 

989

 

 

 

(3,195

)

 

 

(7,692

)

 

 

(1,273

)

 

 

(14,591

)

Whole different working revenue

 

 

11,601

 

 

 

9,629

 

 

 

17,138

 

 

 

9,551

 

 

 

11,566

 

 

 

47,919

 

 

 

43,060

 

Whole different working expense

 

 

40,434

 

 

 

41,998

 

 

 

45,349

 

 

 

38,205

 

 

 

42,422

 

 

 

165,986

 

 

 

163,046

 

Earnings tax expense

 

 

6,700

 

 

 

5,919

 

 

 

6,184

 

 

 

6,038

 

 

 

7,605

 

 

 

24,841

 

 

 

25,758

 

Internet revenue

 

 

20,181

 

 

 

16,715

 

 

 

17,594

 

 

 

19,438

 

 

 

22,327

 

 

 

73,928

 

 

 

79,894

 

Fundamental earnings per widespread share

 

$

0.74

 

 

$

0.61

 

 

$

0.64

 

 

$

0.70

 

 

$

0.80

 

 

$

2.70

 

 

$

2.85

 

Diluted earnings per widespread share

 

 

0.74

 

 

 

0.61

 

 

 

0.64

 

 

 

0.70

 

 

 

0.80

 

 

 

2.68

 

 

 

2.83

 

Dividends declared per widespread share

 

 

0.26

 

 

 

0.26

 

 

 

0.26

 

 

 

0.26

 

 

 

0.25

 

 

 

1.04

 

 

 

0.96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PERFORMANCE RATIOS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on common belongings (ROA) [1]

 

 

1.09

%

 

 

0.91

%

 

 

0.96

%

 

 

1.06

%

 

 

1.22

%

 

 

1.01

%

 

 

1.13

%

Return on common shareholders’ fairness (ROE) [1]

 

 

18.30

 

 

 

14.49

 

 

 

14.93

 

 

 

14.44

 

 

 

16.05

 

 

 

15.47

 

 

 

14.38

 

Common shareholders’ fairness to common belongings

 

 

5.97

 

 

 

6.30

 

 

 

6.45

 

 

 

7.34

 

 

 

7.61

 

 

 

6.51

 

 

 

7.85

 

Effectivity ratio [2]

 

 

59.56

 

 

 

64.62

 

 

 

64.68

 

 

 

63.16

 

 

 

65.61

 

 

 

63.00

 

 

 

64.16

 

Internet curiosity margin (NIM) [1]

 

 

3.17

 

 

 

3.17

 

 

 

3.05

 

 

 

2.97

 

 

 

3.08

 

 

 

3.09

 

 

 

3.18

 

Dividend payout ratio [3]

 

 

35.14

 

 

 

42.62

 

 

 

40.63

 

 

 

37.14

 

 

 

31.25

 

 

 

38.81

 

 

 

33.92

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SELECTED AVERAGE BALANCES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common loans, together with loans held on the market

 

$

5,498,800

 

 

$

5,355,088

 

 

$

5,221,300

 

 

$

5,114,260

 

 

$

5,073,069

 

 

$

5,298,573

 

 

$

5,071,516

 

Common interest-earning belongings

 

 

7,103,841

 

 

 

6,991,773

 

 

 

6,982,556

 

 

 

6,932,649

 

 

 

6,890,829

 

 

 

7,003,232

 

 

 

6,643,193

 

Common belongings

 

 

7,389,712

 

 

 

7,320,751

 

 

 

7,309,939

 

 

 

7,341,850

 

 

 

7,315,325

 

 

 

7,340,261

 

 

 

7,078,025

 

Common deposits

 

 

6,673,922

 

 

 

6,535,321

 

 

 

6,626,462

 

 

 

6,581,593

 

 

 

6,536,826

 

 

 

6,604,049

 

 

 

6,299,369

 

Common interest-bearing liabilities

 

 

4,708,045

 

 

 

4,538,893

 

 

 

4,442,172

 

 

 

4,429,114

 

 

 

4,407,612

 

 

 

4,530,347

 

 

 

4,288,041

 

Common shareholders’ fairness

 

 

441,084

 

 

 

461,328

 

 

 

471,420

 

 

 

538,601

 

 

 

556,462

 

 

 

477,775

 

 

 

555,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1] ROA and ROE are annualized based mostly on a 30/360 day conference. Annualized web curiosity revenue and expense within the NIM calculation are based mostly on the day rely curiosity cost conventions on the interest-earning asset or interest-bearing legal responsibility stage (i.e. 30/360, precise/precise).

[2] Effectivity ratio is outlined as whole working expense divided by whole income (web curiosity revenue and whole different working revenue).

[3] Dividend payout ratio is outlined as dividends declared per share divided by diluted earnings per share.

 
CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Monetary Highlights
(Unaudited)

TABLE 1 (CONTINUED)

 

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

 

 

2022

 

2022

 

2022

 

2022

 

2021

REGULATORY CAPITAL RATIOS

 

 

 

 

 

 

 

 

 

 

Central Pacific Monetary Corp. (consolidated)

 

 

 

 

 

 

 

 

 

 

Leverage capital ratio

 

 

8.5

%

 

 

8.7

%

 

 

8.6

%

 

 

8.5

%

 

 

8.5

%

Tier 1 risk-based capital ratio

 

 

11.3

 

 

 

11.5

 

 

 

11.6

 

 

 

11.9

 

 

 

12.2

 

Whole risk-based capital ratio

 

 

13.5

 

 

 

13.7

 

 

 

13.9

 

 

 

14.2

 

 

 

14.5

 

Frequent fairness tier 1 capital ratio

 

 

10.5

 

 

 

10.6

 

 

 

10.7

 

 

 

10.9

 

 

 

11.2

 

Central Pacific Financial institution

 

 

 

 

 

 

 

 

 

 

Leverage capital ratio

 

 

9.0

 

 

 

9.1

 

 

 

9.0

 

 

 

9.0

 

 

 

8.9

 

Tier 1 risk-based capital ratio

 

 

11.9

 

 

 

12.2

 

 

 

12.2

 

 

 

12.6

 

 

 

12.8

 

Whole risk-based capital ratio

 

 

13.1

 

 

 

13.4

 

 

 

13.5

 

 

 

13.8

 

 

 

14.0

 

Frequent fairness tier 1 capital ratio

 

 

11.9

 

 

 

12.2

 

 

 

12.2

 

 

 

12.6

 

 

 

12.8

 

 
 

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

({dollars} in 1000’s, apart from per share quantities)

 

2022

 

2022

 

2022

 

2022

 

2021

BALANCE SHEET

 

 

 

 

 

 

 

 

 

 

Whole loans, web of deferred charges and prices

 

$

5,555,466

 

 

$

5,422,212

 

 

$

5,301,633

 

 

$

5,174,837

 

 

$

5,101,649

 

Whole belongings

 

 

7,432,763

 

 

 

7,337,631

 

 

 

7,299,178

 

 

 

7,298,819

 

 

 

7,419,089

 

Whole deposits

 

 

6,736,223

 

 

 

6,556,434

 

 

 

6,622,061

 

 

 

6,599,031

 

 

 

6,639,158

 

Lengthy-term debt

 

 

105,859

 

 

 

105,799

 

 

 

105,738

 

 

 

105,677

 

 

 

105,616

 

Whole shareholders’ fairness

 

 

452,871

 

 

 

438,468

 

 

 

455,100

 

 

 

486,328

 

 

 

558,219

 

Whole shareholders’ fairness to whole belongings

 

 

6.09

%

 

 

5.98

%

 

 

6.23

%

 

 

6.66

%

 

 

7.52

%

 

 

 

 

 

 

 

 

 

 

 

ASSET QUALITY

 

 

 

 

 

 

 

 

 

 

Allowance for credit score losses (ACL)

 

$

63,738

 

 

$

64,382

 

 

$

65,211

 

 

$

64,754

 

 

$

68,097

 

Nonaccrual loans

 

 

5,251

 

 

 

4,220

 

 

 

4,983

 

 

 

5,336

 

 

 

5,881

 

Non-performing belongings (NPA)

 

 

5,251

 

 

 

4,220

 

 

 

4,983

 

 

 

5,336

 

 

 

5,881

 

ACL to whole loans

 

 

1.15

%

 

 

1.19

%

 

 

1.23

%

 

 

1.25

%

 

 

1.33

%

ACL to nonaccrual loans

 

 

1,213.83

%

 

 

1,525.64

%

 

 

1,308.67

%

 

 

1,213.53

%

 

 

1,157.92

%

NPA to whole belongings

 

 

0.07

%

 

 

0.06

%

 

 

0.07

%

 

 

0.07

%

 

 

0.08

%

 

 

 

 

 

 

 

 

 

 

 

PER SHARE OF COMMON STOCK OUTSTANDING

 

 

 

 

 

 

 

 

 

 

Ebook worth per widespread share

 

$

16.76

 

 

$

16.08

 

 

$

16.57

 

 

$

17.63

 

 

$

20.14

 

Closing market worth per widespread share

 

 

20.28

 

 

 

20.69

 

 

 

21.45

 

 

 

27.90

 

 

 

28.17

 

 
CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Consolidated Stability Sheets

(Unaudited)

TABLE 2

 

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

({Dollars} in 1000’s, besides share knowledge)

 

2022

 

2022

 

2022

 

2022

 

2021

ASSETS

 

 

 

 

 

 

 

 

 

 

Money and due from monetary establishments

 

$

97,150

 

 

$

116,365

 

 

$

108,389

 

 

$

83,947

 

 

$

81,506

 

Curiosity-bearing deposits in different monetary establishments

 

 

14,894

 

 

 

22,332

 

 

 

22,741

 

 

 

118,183

 

 

 

247,401

 

Funding securities:

 

 

 

 

 

 

 

 

 

 

Accessible-for-sale debt securities, at honest worth

 

 

671,794

 

 

 

686,681

 

 

 

787,373

 

 

 

1,199,482

 

 

 

1,631,699

 

Held-to-maturity debt securities, at amortized value; honest worth of: $596,781 at December 31, 2022, $590,880 at September 30, 2022, $635,565 at June 30, 2022, $329,503 at March 31, 2022, and none at December 31, 2021

 

 

664,883

 

 

 

662,827

 

 

 

663,365

 

 

 

329,507

 

 

 

 

Fairness securities, at honest worth

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Whole funding securities

 

 

1,336,677

 

 

 

1,349,508

 

 

 

1,450,738

 

 

 

1,528,989

 

 

 

1,631,699

 

Loans held on the market

 

 

1,105

 

 

 

1,701

 

 

 

535

 

 

 

4,677

 

 

 

3,531

 

Loans, web of deferred charges and prices

 

 

5,555,466

 

 

 

5,422,212

 

 

 

5,301,633

 

 

 

5,174,837

 

 

 

5,101,649

 

Much less: allowance for credit score losses

 

 

63,738

 

 

 

64,382

 

 

 

65,211

 

 

 

64,754

 

 

 

68,097

 

Loans, web of allowance for credit score losses

 

 

5,491,728

 

 

 

5,357,830

 

 

 

5,236,422

 

 

 

5,110,083

 

 

 

5,033,552

 

Premises and tools, web

 

 

91,634

 

 

 

89,979

 

 

 

88,664

 

 

 

79,455

 

 

 

80,354

 

Accrued curiosity receivable

 

 

20,345

 

 

 

18,134

 

 

 

17,146

 

 

 

16,423

 

 

 

16,709

 

Funding in unconsolidated entities

 

 

46,641

 

 

 

36,769

 

 

 

37,341

 

 

 

31,092

 

 

 

29,679

 

Mortgage servicing rights

 

 

9,074

 

 

 

9,216

 

 

 

9,369

 

 

 

9,480

 

 

 

9,738

 

Financial institution-owned life insurance coverage

 

 

167,967

 

 

 

167,761

 

 

 

167,202

 

 

 

167,407

 

 

 

169,148

 

Federal House Mortgage Financial institution (“FHLB”) inventory

 

 

9,146

 

 

 

13,546

 

 

 

8,943

 

 

 

8,943

 

 

 

7,964

 

Proper of use lease asset

 

 

34,985

 

 

 

35,978

 

 

 

36,978

 

 

 

38,435

 

 

 

39,441

 

Different belongings

 

 

111,417

 

 

 

118,512

 

 

 

114,710

 

 

 

101,705

 

 

 

68,367

Whole belongings

 

$

7,432,763

 

 

$

7,337,631

 

$

7,299,178

 

$

7,298,819

 

 

$

7,419,089

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing demand

 

$

2,092,823

 

 

$

2,138,083

 

 

$

2,282,967

 

 

$

2,269,562

 

 

$

2,291,246

 

Curiosity-bearing demand

 

 

1,453,167

 

 

 

1,441,302

 

 

 

1,444,566

 

 

 

1,433,284

 

 

 

1,415,277

 

Financial savings and cash market

 

 

2,199,028

 

 

 

2,194,991

 

 

 

2,214,146

 

 

 

2,197,647

 

 

 

2,225,903

 

Time

 

 

991,205

 

 

 

782,058

 

 

 

680,382

 

 

 

698,538

 

 

 

706,732

 

Whole deposits

 

 

6,736,223

 

 

 

6,556,434

 

 

 

6,622,061

 

 

 

6,599,031

 

 

 

6,639,158

 

FHLB advances and different short-term borrowings

 

 

5,000

 

 

 

115,000

 

 

 

 

 

 

 

 

 

 

Lengthy-term debt

 

 

105,859

 

 

 

105,799

 

 

 

105,738

 

 

 

105,677

 

 

 

105,616

 

Lease legal responsibility

 

 

35,889

 

 

 

36,941

 

 

 

38,037

 

 

 

39,610

 

 

 

40,731

 

Different liabilities

 

 

96,921

 

 

 

84,989

 

 

 

78,242

 

 

 

68,123

 

 

 

75,317

 

Whole liabilities

 

 

6,979,892

 

 

 

6,899,163

 

 

 

6,844,078

 

 

 

6,812,441

 

 

 

6,860,822

 

EQUITY

 

 

 

 

 

 

 

 

 

 

Shareholders’ fairness:

 

 

 

 

 

 

 

 

 

 

Most popular inventory, no par worth, approved 1,000,000 shares; issued and excellent: none at December 31, 2022, September 30, 2022, June 30, 2022, March 31, 2022, and December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Frequent inventory, no par worth, approved 185,000,000 shares; issued and excellent: 27,025,070 at December 31, 2022, 27,262,879 at September 30, 2022, 27,463,562 at June 30, 2022, 27,584,929 at March 31, 2022, and 27,714,071 at December 31, 2021

 

 

408,071

 

 

 

412,994

 

 

 

417,862

 

 

 

421,153

 

 

 

426,091

 

Extra paid-in capital

 

 

101,346

 

 

 

100,426

 

 

 

98,977

 

 

 

98,270

 

 

 

98,073

 

Retained earnings

 

 

87,438

 

 

 

74,301

 

 

 

64,693

 

 

 

54,252

 

 

 

42,015

 

Accrued different complete loss

 

 

(143,984

)

 

 

(149,253

)

 

 

(126,432

)

 

 

(87,347

)

 

 

(7,960

)

Whole shareholders’ fairness

 

 

452,871

 

 

 

438,468

 

 

 

455,100

 

 

 

486,328

 

 

 

558,219

 

Non-controlling curiosity

 

 

 

 

 

 

 

 

 

 

 

50

 

 

 

48

 

Whole fairness

 

 

452,871

 

 

 

438,468

 

 

 

455,100

 

 

 

486,378

 

 

 

558,267

Whole liabilities and fairness

 

$

7,432,763

 

 

$

7,337,631

 

 

$

7,299,178

 

 

$

7,298,819

 

 

$

7,419,089

 

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Consolidated Statements of Earnings

(Unaudited)

TABLE 3

 

 

 

Three Months Ended

 

12 months Ended

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

 

December 31,

({Dollars} in 1000’s, besides per share knowledge)

 

2022

 

2022

 

2022

 

2022

 

2021

 

2022

 

2021

Curiosity revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Curiosity and costs on loans

 

$

56,682

 

$

51,686

 

$

46,963

 

 

$

44,949

 

 

$

47,576

 

 

$

200,280

 

 

$

193,778

 

Curiosity and dividends on funding securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxable funding securities

 

 

7,104

 

 

6,933

 

 

7,035

 

 

 

6,969

 

 

 

6,667

 

 

 

28,041

 

 

 

22,430

 

Tax-exempt funding securities

 

 

776

 

 

805

 

 

807

 

 

 

816

 

 

 

642

 

 

 

3,204

 

 

 

1,972

 

Dividend revenue on funding securities

 

 

 

 

 

 

 

 

 

21

 

 

 

21

 

 

 

21

 

 

 

75

 

Curiosity on deposits in different monetary establishments

 

 

370

 

 

107

 

 

191

 

 

 

72

 

 

 

86

 

 

 

740

 

 

 

262

 

Dividend revenue on FHLB inventory

 

 

105

 

 

138

 

 

68

 

 

 

59

 

 

 

61

 

 

 

370

 

 

 

245

 

Whole curiosity revenue

 

 

65,037

 

 

59,669

 

 

55,064

 

 

 

52,886

 

 

 

55,053

 

 

 

232,656

 

 

 

218,762

 

Curiosity expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Curiosity on deposits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Demand

 

 

333

 

 

217

 

 

144

 

 

 

112

 

 

 

104

 

 

 

806

 

 

 

384

 

Financial savings and cash market

 

 

2,488

 

 

1,054

 

 

317

 

 

 

329

 

 

 

352

 

 

 

4,188

 

 

 

1,240

 

Time

 

 

4,063

 

 

1,092

 

 

490

 

 

 

469

 

 

 

478

 

 

 

6,114

 

 

 

1,992

 

Curiosity on short-term borrowings

 

 

393

 

 

660

 

 

2

 

 

 

 

 

 

 

 

 

1,055

 

 

 

2

 

Curiosity on long-term debt

 

 

1,475

 

 

1,281

 

 

1,133

 

 

 

1,041

 

 

 

1,023

 

 

 

4,930

 

 

 

4,097

 

Whole curiosity expense

 

 

8,752

 

 

4,304

 

 

2,086

 

 

 

1,951

 

 

 

1,957

 

 

 

17,093

 

 

 

7,715

 

Internet curiosity revenue

 

 

56,285

 

 

55,365

 

 

52,978

 

 

 

50,935

 

 

 

53,096

 

 

 

215,563

 

 

 

211,047

 

Provision (credit score) for credit score losses

 

 

571

 

 

362

 

 

989

 

 

 

(3,195

)

 

 

(7,692

)

 

 

(1,273

)

 

 

(14,591

)

Internet curiosity revenue after provision (credit score) for credit score losses

 

 

55,714

 

 

55,003

 

 

51,989

 

 

 

54,130

 

 

 

60,788

 

 

 

216,836

 

 

 

225,638

 

Different working revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage banking revenue

 

 

667

 

 

831

 

 

1,140

 

 

 

1,172

 

 

 

1,902

 

 

 

3,810

 

 

 

7,732

 

Service fees on deposit accounts

 

 

2,172

 

 

2,138

 

 

2,026

 

 

 

1,861

 

 

 

1,800

 

 

 

8,197

 

 

 

6,358

 

Different service fees and costs

 

 

4,972

 

 

4,955

 

 

4,610

 

 

 

4,488

 

 

 

5,016

 

 

 

19,025

 

 

 

18,367

 

Earnings from fiduciary actions

 

 

1,058

 

 

1,165

 

 

1,188

 

 

 

1,154

 

 

 

1,283

 

 

 

4,565

 

 

 

5,075

 

Internet achieve on gross sales of funding securities

 

 

 

 

 

 

8,506

 

 

 

 

 

 

 

 

 

8,506

 

 

 

150

 

Earnings from bank-owned life insurance coverage

 

 

2,187

 

 

167

 

 

(1,028

)

 

 

539

 

 

 

946

 

 

 

1,865

 

 

 

3,493

 

Different

 

 

545

 

 

373

 

 

696

 

 

 

337

 

 

 

619

 

 

 

1,951

 

 

 

1,885

 

Whole different working revenue

 

 

11,601

 

 

9,629

 

 

17,138

 

 

 

9,551

 

 

 

11,566

 

 

 

47,919

 

 

 

43,060

 

Different working expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and worker advantages

 

 

22,692

 

 

22,778

 

 

22,369

 

 

 

20,942

 

 

 

23,030

 

 

 

88,781

 

 

 

90,213

 

Internet occupancy

 

 

3,998

 

 

4,743

 

 

4,448

 

 

 

3,774

 

 

 

4,129

 

 

 

16,963

 

 

 

16,133

 

Tools

 

 

996

 

 

1,085

 

 

1,075

 

 

 

1,082

 

 

 

1,207

 

 

 

4,238

 

 

 

4,344

 

Communication

 

 

696

 

 

712

 

 

744

 

 

 

806

 

 

 

922

 

 

 

2,958

 

 

 

3,271

 

Authorized {and professional} companies

 

 

2,677

 

 

2,573

 

 

2,916

 

 

 

2,626

 

 

 

2,928

 

 

 

10,792

 

 

 

10,452

 

Pc software program

 

 

3,996

 

 

4,138

 

 

3,624

 

 

 

3,082

 

 

 

3,125

 

 

 

14,840

 

 

 

13,304

 

Promoting

 

 

701

 

 

1,150

 

 

1,150

 

 

 

1,150

 

 

 

1,179

 

 

 

4,151

 

 

 

5,495

 

Different

 

 

4,678

 

 

4,819

 

 

9,023

 

 

 

4,743

 

 

 

5,902

 

 

 

23,263

 

 

 

19,834

 

Whole different working expense

 

 

40,434

 

 

41,998

 

 

45,349

 

 

 

38,205

 

 

 

42,422

 

 

 

165,986

 

 

 

163,046

 

Earnings earlier than revenue taxes

 

 

26,881

 

 

22,634

 

 

23,778

 

 

 

25,476

 

 

 

29,932

 

 

 

98,769

 

 

 

105,652

 

Earnings tax expense

 

 

6,700

 

 

5,919

 

 

6,184

 

 

 

6,038

 

 

 

7,605

 

 

 

24,841

 

 

 

25,758

 

Internet revenue

 

$

20,181

 

$

16,715

 

$

17,594

 

 

$

19,438

 

 

$

22,327

 

 

$

73,928

 

 

$

79,894

 

Per widespread share knowledge:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fundamental earnings per share

 

$

0.74

 

$

0.61

 

$

0.64

 

 

$

0.70

 

 

$

0.80

 

 

$

2.70

 

 

$

2.85

 

Diluted earnings per share

 

 

0.74

 

 

0.61

 

 

0.64

 

 

 

0.70

 

 

 

0.80

 

 

 

2.68

 

 

 

2.83

 

Money dividends declared

 

 

0.26

 

 

0.26

 

 

0.26

 

 

 

0.26

 

 

 

0.25

 

 

 

1.04

 

 

 

0.96

 

Fundamental weighted common shares excellent

 

 

27,134,970

 

 

27,356,614

 

 

27,516,284

 

 

 

27,591,390

 

 

 

27,769,651

 

 

 

27,398,445

 

 

 

28,003,744

 

Diluted weighted common shares excellent

 

 

27,303,249

 

 

27,501,212

 

 

27,676,619

 

 

 

27,874,924

 

 

 

28,045,826

 

 

 

27,567,780

 

 

 

28,257,323

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Observe: Sure quantities within the prior interval monetary statements have been reclassified to adapt to the presentation of the present interval.

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Common Balances, Curiosity Earnings & Expense, Yields and Charges (Taxable Equal)

(Unaudited)

TABLE 4

 

 

 

Three Months Ended

 

Three Months Ended

 

Three Months Ended

 

 

December 31, 2022

 

September 30, 2022

 

December 31, 2021

 

 

Common

 

Common

 

 

 

Common

 

Common

 

 

 

Common

 

Common

 

 

({Dollars} in 1000’s)

 

Stability

 

Yield/Charge

 

Curiosity

 

Stability

 

Yield/Charge

 

Curiosity

 

Stability

 

Yield/Charge

 

Curiosity

ASSETS

Curiosity-earning belongings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Curiosity-bearing deposits in different monetary establishments

 

$

38,610

 

3.80

%

 

$

370

 

$

19,802

 

2.14

%

 

$

107

 

$

225,560

 

0.15

%

 

$

86

Funding securities, excluding valuation allowance:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxable

 

 

1,399,627

 

2.03

 

 

 

7,104

 

 

1,445,781

 

1.92

 

 

 

6,934

 

 

1,469,711

 

1.82

 

 

 

6,688

Tax-exempt [1]

 

 

156,079

 

2.52

 

 

 

982

 

 

158,052

 

2.57

 

 

 

1,018

 

 

114,529

 

2.84

 

 

 

813

Whole funding securities

 

 

1,555,706

 

2.08

 

 

 

8,086

 

 

1,603,833

 

1.98

 

 

 

7,952

 

 

1,584,240

 

1.89

 

 

 

7,501

Loans, together with loans held on the market

 

 

5,498,800

 

4.10

 

 

 

56,682

 

 

5,355,088

 

3.84

 

 

 

51,686

 

 

5,073,069

 

3.73

 

 

 

47,576

Federal House Mortgage Financial institution inventory

 

 

10,725

 

3.90

 

 

 

105

 

 

13,050

 

4.23

 

 

 

138

 

 

7,960

 

3.05

 

 

 

61

Whole interest-earning belongings

 

 

7,103,841

 

3.66

 

 

 

65,243

 

 

6,991,773

 

3.41

 

 

 

59,883

 

 

6,890,829

 

3.19

 

 

 

55,224

Noninterest-earning belongings

 

 

285,871

 

 

 

 

 

 

328,978

 

 

 

 

 

 

424,496

 

 

 

 

Whole belongings

 

$

7,389,712

 

 

 

$

7,320,751

 

 

 

$

7,315,325

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

Curiosity-bearing liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Curiosity-bearing demand deposits

 

$

1,441,787

 

0.09

%

 

$

333

 

$

1,450,434

 

0.06

%

 

$

217

 

$

1,383,696

 

0.03

%

 

$

104

Financial savings and cash market deposits

 

 

2,209,166

 

0.45

 

 

 

2,488

 

 

2,208,037

 

0.19

 

 

 

1,054

 

 

2,224,592

 

0.06

 

 

 

352

Time deposits as much as $250,000

 

 

311,639

 

1.50

 

 

 

1,174

 

 

228,707

 

0.42

 

 

 

245

 

 

225,451

 

0.31

 

 

 

176

Time deposits over $250,000

 

 

595,133

 

1.93

 

 

 

2,889

 

 

443,178

 

0.76

 

 

 

847

 

 

468,292

 

0.26

 

 

 

302

Whole interest-bearing deposits

 

 

4,557,725

 

0.60

 

 

 

6,884

 

 

4,330,356

 

0.22

 

 

 

2,363

 

 

4,302,031

 

0.09

 

 

 

934

Federal House Mortgage Financial institution advances and different short-term borrowings

 

 

44,491

 

3.51

 

 

 

393

 

 

102,777

 

2.55

 

 

 

660

 

 

 

 

 

 

Lengthy-term debt

 

 

105,829

 

5.53

 

 

 

1,475

 

 

105,760

 

4.80

 

 

 

1,281

 

 

105,581

 

3.85

 

 

 

1,023

Whole interest-bearing liabilities

 

 

4,708,045

 

0.74

 

 

 

8,752

 

 

4,538,893

 

0.38

 

 

 

4,304

 

 

4,407,612

 

0.18

 

 

 

1,957

Noninterest-bearing deposits

 

 

2,116,197

 

 

 

 

 

 

2,204,965

 

 

 

 

 

 

2,234,795

 

 

 

 

Different liabilities

 

 

124,386

 

 

 

 

 

 

115,565

 

 

 

 

 

 

116,408

 

 

 

 

Whole liabilities

 

 

6,948,628

 

 

 

 

 

 

6,859,423

 

 

 

 

 

 

6,758,815

 

 

 

 

Shareholders’ fairness

 

 

441,084

 

 

 

 

 

 

461,328

 

 

 

 

 

 

556,462

 

 

 

 

Non-controlling curiosity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

48

 

 

 

 

Whole fairness

 

 

441,084

 

 

 

 

 

 

461,328

 

 

 

 

 

 

556,510

 

 

 

 

Whole liabilities and fairness

 

$

7,389,712

 

 

 

 

 

$

7,320,751

 

 

 

 

 

$

7,315,325

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet curiosity revenue

 

 

 

 

 

$

56,491

 

 

 

 

 

$

55,579

 

 

 

 

 

$

53,267

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rate of interest unfold

 

 

 

2.92

%

 

 

 

 

 

3.03

%

 

 

 

 

 

3.01

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet curiosity margin

 

 

 

3.17

%

 

 

 

 

 

3.17

%

 

 

 

 

 

3.08

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1] Curiosity revenue and resultant yield data for tax-exempt funding securities is expressed on a taxable-equivalent foundation utilizing a federal statutory tax price of 21%.

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Common Balances, Curiosity Earnings & Expense, Yields and Charges (Taxable Equal)

(Unaudited)

TABLE 5

 

 

 

12 months Ended

 

12 months Ended

 

 

December 31, 2022

 

December 31, 2021

 

 

Common

 

Common

 

 

 

Common

 

Common

 

 

({Dollars} in 1000’s)

 

Stability

 

Yield/Charge

 

Curiosity

 

Stability

 

Yield/Charge

 

Curiosity

ASSETS

Curiosity-earning belongings:

 

 

 

 

 

 

 

 

 

 

 

 

Curiosity-bearing deposits in different monetary establishments

 

$

80,096

 

0.92

%

 

$

740

 

$

191,967

 

0.14

%

 

$

262

Funding securities, excluding valuation allowance:

 

 

 

 

 

 

 

 

 

 

 

 

Taxable

 

 

1,455,246

 

1.93

 

 

 

28,062

 

 

1,269,900

 

1.77

 

 

 

22,505

Tax-exempt [1]

 

 

159,120

 

2.55

 

 

 

4,056

 

 

101,877

 

2.45

 

 

 

2,496

Whole funding securities

 

 

1,614,366

 

1.99

 

 

 

32,118

 

 

1,371,777

 

1.82

 

 

 

25,001

Loans, together with loans held on the market

 

 

5,298,573

 

3.78

 

 

 

200,280

 

 

5,071,516

 

3.82

 

 

 

193,778

Federal House Mortgage Financial institution inventory

 

 

10,197

 

3.63

 

 

 

370

 

 

7,933

 

3.09

 

 

 

245

Whole interest-earning belongings

 

 

7,003,232

 

3.33

 

 

 

233,508

 

 

6,643,193

 

3.30

 

 

 

219,286

Noninterest-earning belongings

 

 

337,029

 

 

 

 

 

 

434,832

 

 

 

 

Whole belongings

 

$

7,340,261

 

 

 

 

 

$

7,078,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

Curiosity-bearing liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Curiosity-bearing demand deposits

 

$

1,438,232

 

0.06

%

 

$

806

 

$

1,300,022

 

0.03

%

 

$

384

Financial savings and cash market deposits

 

 

2,208,630

 

0.19

 

 

 

4,188

 

 

2,099,388

 

0.06

 

 

 

1,240

Time deposits as much as $250,000

 

 

245,599

 

0.70

 

 

 

1,723

 

 

230,705

 

0.34

 

 

 

795

Time deposits over $250,000

 

 

494,943

 

0.89

 

 

 

4,391

 

 

551,831

 

0.22

 

 

 

1,197

Whole interest-bearing deposits

 

 

4,387,404

 

0.25

 

 

 

11,108

 

 

4,181,946

 

0.09

 

 

 

3,616

Federal House Mortgage Financial institution advances and different short-term borrowings

 

 

37,211

 

2.84

 

 

 

1,055

 

 

607

 

0.30

 

 

 

2

Lengthy-term debt

 

 

105,732

 

4.66

 

 

 

4,930

 

 

105,488

 

3.88

 

 

 

4,097

Whole interest-bearing liabilities

 

 

4,530,347

 

0.38

 

 

 

17,093

 

 

4,288,041

 

0.18

 

 

 

7,715

Noninterest-bearing deposits

 

 

2,216,645

 

 

 

 

 

 

2,117,423

 

 

 

 

Different liabilities

 

 

115,478

 

 

 

 

 

 

116,936

 

 

 

 

Whole liabilities

 

 

6,862,470

 

 

 

 

 

 

6,522,400

 

 

 

 

Shareholders’ fairness

 

 

477,775

 

 

 

 

 

 

555,600

 

 

 

 

Non-controlling curiosity

 

 

16

 

 

 

 

 

 

25

 

 

 

 

Whole fairness

 

 

477,791

 

 

 

 

 

 

555,625

 

 

 

 

Whole liabilities and fairness

 

$

7,340,261

 

 

 

 

 

$

7,078,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet curiosity revenue

 

 

 

 

 

$

216,415

 

 

 

 

 

$

211,571

 

 

 

 

 

 

 

 

 

 

 

 

 

Rate of interest unfold

 

 

 

2.95

%

 

 

 

 

 

3.12

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet curiosity margin

 

 

 

3.09

%

 

 

 

 

 

3.18

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1] Curiosity revenue and resultant yield data for tax-exempt funding securities is expressed on a taxable-equivalent foundation utilizing a federal statutory tax price of 21%.

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Loans by Geographic Distribution

(Unaudited)

TABLE 6

 

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

({Dollars} in 1000’s)

 

2022

 

2022

 

2022

 

2022

 

2021

HAWAII:

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural:

 

 

 

 

 

 

 

 

 

 

SBA Paycheck Safety Program

 

$

2,555

 

 

$

5,208

 

 

$

19,469

 

 

$

43,380

 

 

$

87,459

 

Different

 

 

383,665

 

 

 

358,805

 

 

 

367,676

 

 

 

407,559

 

 

 

422,388

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Development

 

 

150,208

 

 

 

138,724

 

 

 

134,103

 

 

 

122,329

 

 

 

122,867

 

Residential mortgage

 

 

1,940,999

 

 

 

1,923,068

 

 

 

1,890,783

 

 

 

1,874,048

 

 

 

1,875,980

 

House fairness

 

 

739,380

 

 

 

719,399

 

 

 

698,209

 

 

 

676,326

 

 

 

637,249

 

Business mortgage

 

 

1,029,708

 

 

 

1,002,874

 

 

 

994,405

 

 

 

927,241

 

 

 

922,146

 

Shopper

 

 

346,789

 

 

 

347,388

 

 

 

341,213

 

 

 

337,188

 

 

 

333,843

 

Whole loans, web of deferred charges and prices

 

 

4,593,304

 

 

 

4,495,466

 

 

 

4,445,858

 

 

 

4,388,071

 

 

 

4,401,932

 

Allowance for credit score losses

 

 

(45,169

)

 

 

(47,814

)

 

 

(51,374

)

 

 

(51,521

)

 

 

(55,808

)

Loans, web of allowance for credit score losses

 

$

4,548,135

 

 

$

4,447,652

 

 

$

4,394,484

 

 

$

4,336,550

 

 

$

4,346,124

 

 

 

 

 

 

 

 

 

 

 

 

U.S. MAINLAND: [1]

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural:

 

 

 

 

 

 

 

 

 

 

SBA Paycheck Safety Program

 

$

 

 

$

 

 

$

712

 

 

$

851

 

 

$

3,868

 

Different

 

 

160,282

 

 

 

158,474

 

 

 

156,567

 

 

 

136,857

 

 

 

107,733

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Development

 

 

16,515

 

 

 

12,872

 

 

 

10,935

 

 

 

988

 

 

 

 

Business mortgage

 

 

333,367

 

 

 

332,872

 

 

 

309,230

 

 

 

316,258

 

 

 

298,058

 

Shopper

 

 

451,998

 

 

 

422,528

 

 

 

378,331

 

 

 

331,812

 

 

 

290,058

 

Whole loans, web of deferred charges and prices

 

 

962,162

 

 

 

926,746

 

 

 

855,775

 

 

 

786,766

 

 

 

699,717

 

Allowance for credit score losses

 

 

(18,569

)

 

 

(16,568

)

 

 

(13,837

)

 

 

(13,233

)

 

 

(12,289

)

Loans, web of allowance for credit score losses

 

$

943,593

 

 

$

910,178

 

 

$

841,938

 

 

$

773,533

 

 

$

687,428

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL:

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural:

 

 

 

 

 

 

 

 

 

 

SBA Paycheck Safety Program

 

$

2,555

 

 

$

5,208

 

 

$

20,181

 

 

$

44,231

 

 

$

91,327

 

Different

 

 

543,947

 

 

 

517,279

 

 

 

524,243

 

 

 

544,416

 

 

 

530,121

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Development

 

 

166,723

 

 

 

151,596

 

 

 

145,038

 

 

 

123,317

 

 

 

122,867

 

Residential mortgage

 

 

1,940,999

 

 

 

1,923,068

 

 

 

1,890,783

 

 

 

1,874,048

 

 

 

1,875,980

 

House fairness

 

 

739,380

 

 

 

719,399

 

 

 

698,209

 

 

 

676,326

 

 

 

637,249

 

Business mortgage

 

 

1,363,075

 

 

 

1,335,746

 

 

 

1,303,635

 

 

 

1,243,499

 

 

 

1,220,204

 

Shopper

 

 

798,787

 

 

 

769,916

 

 

 

719,544

 

 

 

669,000

 

 

 

623,901

 

Whole loans, web of deferred charges and prices

 

 

5,555,466

 

 

 

5,422,212

 

 

 

5,301,633

 

 

 

5,174,837

 

 

 

5,101,649

 

Allowance for credit score losses

 

 

(63,738

)

 

 

(64,382

)

 

 

(65,211

)

 

 

(64,754

)

 

 

(68,097

)

Loans, web of allowance for credit score losses

 

$

5,491,728

 

 

$

5,357,830

 

 

$

5,236,422

 

 

$

5,110,083

 

 

$

5,033,552

 

 

 

 

 

 

 

 

 

 

 

 

[1] U.S. Mainland contains territories of america.

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Deposits

(Unaudited)

TABLE 7

 

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

({Dollars} in 1000’s)

 

2022

 

2022

 

2022

 

2022

 

2021

Noninterest-bearing demand

 

$

2,092,823

 

$

2,138,083

 

$

2,282,967

 

$

2,269,562

 

$

2,291,246

Curiosity-bearing demand

 

 

1,453,167

 

 

1,441,302

 

 

1,444,566

 

 

1,433,284

 

 

1,415,277

Financial savings and cash market

 

 

2,199,028

 

 

2,194,991

 

 

2,214,146

 

 

2,197,647

 

 

2,225,903

Time deposits lower than $100,000

 

 

181,547

 

 

153,238

 

 

129,103

 

 

132,712

 

 

136,584

Different time deposits $100,000 to $250,000

 

 

148,601

 

 

108,723

 

 

84,840

 

 

87,838

 

 

88,873

Core deposits

 

 

6,075,166

 

 

6,036,337

 

 

6,155,622

 

 

6,121,043

 

 

6,157,883

 

 

 

 

 

 

 

 

 

 

 

Authorities time deposits

 

 

290,057

 

 

195,057

 

 

165,000

 

 

188,000

 

 

214,950

Different time deposits larger than $250,000

 

 

371,000

 

 

325,040

 

 

301,439

 

 

289,988

 

 

266,325

Whole time deposits larger than $250,000

 

 

661,057

 

 

520,097

 

 

466,439

 

 

477,988

 

 

481,275

Whole deposits

 

$

6,736,223

 

$

6,556,434

 

$

6,622,061

 

$

6,599,031

 

$

6,639,158

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Nonperforming Property, Previous Due and Restructured Loans

(Unaudited)

TABLE 8

 

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

({Dollars} in 1000’s)

 

2022

 

2022

 

2022

 

2022

 

2021

Nonaccrual loans: [1]

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural – Different

 

$

297

 

 

$

277

 

 

$

333

 

 

$

293

 

 

$

183

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Residential mortgage

 

 

3,808

 

 

 

2,771

 

 

 

3,490

 

 

 

3,804

 

 

 

4,623

 

House fairness

 

 

570

 

 

 

584

 

 

 

592

 

 

 

820

 

 

 

786

 

Shopper

 

 

576

 

 

 

588

 

 

 

568

 

 

 

419

 

 

 

289

 

Whole nonaccrual loans

 

 

5,251

 

 

 

4,220

 

 

 

4,983

 

 

 

5,336

 

 

 

5,881

 

Different actual property owned (“OREO”):

 

 

 

 

 

 

 

 

 

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Whole OREO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Whole nonperforming belongings (“NPAs”)

 

 

5,251

 

 

 

4,220

 

 

 

4,983

 

 

 

5,336

 

 

 

5,881

 

Loans delinquent for 90 days or extra nonetheless accruing curiosity: [1]

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural – Different

 

 

39

 

 

 

669

 

 

 

309

 

 

 

592

 

 

 

945

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Residential mortgage

 

 

559

 

 

 

503

 

 

 

 

 

 

111

 

 

 

 

House fairness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

44

 

Shopper

 

 

1,240

 

 

 

623

 

 

 

842

 

 

 

621

 

 

 

374

 

Whole loans delinquent for 90 days or extra nonetheless accruing curiosity

 

 

1,838

 

 

 

1,795

 

 

 

1,151

 

 

 

1,324

 

 

 

1,363

 

Restructured loans nonetheless accruing curiosity: [1]

 

 

 

 

 

 

 

 

 

 

Actual property:

 

 

 

 

 

 

 

 

 

 

Residential mortgage

 

 

1,845

 

 

 

2,030

 

 

 

2,006

 

 

 

2,751

 

 

 

3,768

 

Business mortgage

 

 

886

 

 

 

925

 

 

 

965

 

 

 

1,004

 

 

 

1,043

 

Shopper

 

 

62

 

 

 

69

 

 

 

76

 

 

 

83

 

 

 

92

 

Whole restructured loans nonetheless accruing curiosity

 

 

2,793

 

 

 

3,024

 

 

 

3,047

 

 

 

3,838

 

 

 

4,903

 

Whole NPAs and loans delinquent for 90 days or extra and restructured loans nonetheless accruing curiosity

 

$

9,882

 

 

$

9,039

 

 

$

9,181

 

 

$

10,498

 

 

$

12,147

 

 

 

 

 

 

 

 

 

 

 

 

Whole nonaccrual loans as a proportion of whole loans

 

 

0.09

%

 

 

0.08

%

 

 

0.09

%

 

 

0.10

%

 

 

0.12

%

Whole NPAs as a proportion of whole loans and OREO

 

 

0.09

%

 

 

0.08

%

 

 

0.09

%

 

 

0.10

%

 

 

0.12

%

Whole NPAs and loans delinquent for 90 days or extra nonetheless accruing curiosity as a proportion of whole loans and OREO

 

 

0.13

%

 

 

0.11

%

 

 

0.12

%

 

 

0.13

%

 

 

0.14

%

Whole NPAs, loans delinquent for 90 days or extra and restructured loans nonetheless accruing curiosity as a proportion of whole loans and OREO

 

 

0.18

%

 

 

0.17

%

 

 

0.17

%

 

 

0.20

%

 

 

0.24

%

 

 

 

 

 

 

 

 

 

 

 

Quarter-to-quarter adjustments in NPAs:

 

 

 

 

 

 

 

 

 

 

Stability at starting of quarter

 

$

4,220

 

 

$

4,983

 

 

$

5,336

 

 

$

5,881

 

 

$

7,237

 

Additions

 

 

2,162

 

 

 

1,072

 

 

 

1,881

 

 

 

1,659

 

 

 

1,375

 

Reductions:

 

 

 

 

 

 

 

 

 

 

Funds

 

 

(198

)

 

 

(329

)

 

 

(285

)

 

 

(1,598

)

 

 

(933

)

Return to accrual standing

 

 

(44

)

 

 

(616

)

 

 

(979

)

 

 

(38

)

 

 

(1,034

)

Cost-offs, valuation and different changes

 

 

(889

)

 

 

(890

)

 

 

(970

)

 

 

(568

)

 

 

(764

)

Whole reductions

 

 

(1,131

)

 

 

(1,835

)

 

 

(2,234

)

 

 

(2,204

)

 

 

(2,731

)

Stability at finish of quarter

 

$

5,251

 

 

$

4,220

 

 

$

4,983

 

 

$

5,336

 

 

$

5,881

 

 

 

 

 

 

 

 

 

 

 

 

[1] Part 4013 of the CARES Act and the revised Interagency Assertion had been utilized to mortgage modifications associated to the COVID-19 pandemic as eligible and relevant. This reduction ended on January 1, 2022. These mortgage modifications weren’t included within the delinquent or restructured mortgage balances introduced above.

 

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Allowance for Credit score Losses on Loans

(Unaudited)

TABLE 9

 

 

 

Three Months Ended

 

12 months Ended

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

 

December 31,

({Dollars} in 1000’s)

 

2022

 

2022

 

2022

 

2022

 

2021

 

2022

 

2021

Allowance for credit score losses (“ACL”):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACL at starting of interval

 

$

64,382

 

 

$

65,211

 

 

$

64,754

 

 

$

68,097

 

 

$

74,587

 

 

$

68,097

 

 

$

83,269

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision (credit score) for credit score losses on loans [1]

 

 

1,032

 

 

 

731

 

 

 

1,456

 

 

 

(2,931

)

 

 

(7,417

)

 

 

288

 

 

 

(14,323

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost-offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural – Different

 

 

678

 

 

 

550

 

 

 

487

 

 

 

254

 

 

 

379

 

 

 

1,969

 

 

 

1,723

 

Shopper

 

 

1,881

 

 

 

1,912

 

 

 

1,390

 

 

 

1,216

 

 

 

952

 

 

 

6,399

 

 

 

4,402

 

Whole charge-offs

 

 

2,559

 

 

 

2,462

 

 

 

1,877

 

 

 

1,470

 

 

 

1,331

 

 

 

8,368

 

 

 

6,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recoveries:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business, monetary and agricultural – Different

 

 

210

 

 

 

220

 

 

 

215

 

 

 

350

 

 

 

358

 

 

 

995

 

 

 

1,004

 

Actual property:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Development

 

 

 

 

 

14

 

 

 

62

 

 

 

 

 

 

1,159

 

 

 

76

 

 

 

1,159

 

Residential mortgage

 

 

133

 

 

 

14

 

 

 

36

 

 

 

112

 

 

 

13

 

 

 

295

 

 

 

358

 

House fairness

 

 

 

 

 

36

 

 

 

 

 

 

 

 

 

 

 

 

36

 

 

 

9

 

Business mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

73

 

Shopper

 

 

540

 

 

 

618

 

 

 

565

 

 

 

596

 

 

 

728

 

 

 

2,319

 

 

 

2,673

 

Whole recoveries

 

 

883

 

 

 

902

 

 

 

878

 

 

 

1,058

 

 

 

2,258

 

 

 

3,721

 

 

 

5,276

 

Internet charge-offs (recoveries)

 

 

1,676

 

 

 

1,560

 

 

 

999

 

 

 

412

 

 

 

(927

)

 

 

4,647

 

 

 

849

 

ACL at finish of interval

 

$

63,738

 

 

$

64,382

 

 

$

65,211

 

 

$

64,754

 

 

$

68,097

 

 

$

63,738

 

 

$

68,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common loans, web of deferred charges and prices

 

$

5,498,800

 

 

$

5,355,088

 

 

$

5,221,300

 

 

$

5,114,260

 

 

$

5,073,069

 

 

$

5,298,573

 

 

$

5,071,516

 

Annualized ratio of web charge-offs to common loans

 

 

0.12

%

 

 

0.12

%

 

 

0.08

%

 

 

0.03

%

 

 

(0.07

) %

 

 

0.09

%

 

 

0.02

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1] As of January 1, 2021, the availability for credit score losses on off-balance sheet credit score exposures (beforehand included in different working expense) is included within the provision for credit score losses line on the consolidated statements of revenue. The allowance for off-balance sheet credit score exposures continues to be included in different liabilities. For roll-forward functions, on this desk we exclude the availability for credit score losses on off-balance sheet credit score exposures.

 
CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES

Reconciliation of Non-GAAP Monetary Measures

(Unaudited)

TABLE 10

 

The next desk units forth a reconciliation of web curiosity revenue and web curiosity margin (“NIM”), excluding the affect of SBA Paycheck Safety Program (“PPP”) loans and its associated web curiosity revenue and costs, for every of the durations indicated:

 

 

 

Three Months Ended

 

12 months Ended

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

 

December 31,

 

 

2022

 

2022

 

2022

 

2022

 

2021

 

2022

 

2021

Internet curiosity revenue, reported

 

$

56,285

 

 

$

55,365

 

 

$

52,978

 

 

$

50,935

 

 

$

53,096

 

 

$

215,563

 

 

$

211,047

 

Much less: Internet curiosity revenue on PPP loans

 

 

(140

)

 

 

(667

)

 

 

(890

)

 

 

(1,941

)

 

 

(4,685

)

 

 

(3,638

)

 

 

(26,352

)

Internet revenue revenue, excl. PPP loans

 

$

56,145

 

 

$

54,698

 

 

$

52,088

 

 

$

48,994

 

 

$

48,411

 

 

$

211,925

 

 

$

184,695

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common interest-earning belongings, reported

 

$

7,103,841

 

 

$

6,991,773

 

 

$

6,982,556

 

 

$

6,932,649

 

 

$

6,890,829

 

 

$

7,003,232

 

 

$

6,643,193

 

Much less: Common PPP loans

 

 

(3,615

)

 

 

(12,406

)

 

 

(33,022

)

 

 

(68,657

)

 

 

(153,792

)

 

 

(29,200

)

 

 

(389,795

)

Common interest-earning belongings, excl. PPP

 

$

7,100,226

 

 

$

6,979,367

 

 

$

6,949,534

 

 

$

6,863,992

 

 

$

6,737,037

 

 

$

6,974,032

 

 

$

6,253,398

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet curiosity margin, reported

 

 

3.17

%

 

 

3.17

%

 

 

3.05

%

 

 

2.97

%

 

 

3.08

%

 

 

3.09

%

 

 

3.18

%

Much less: Influence of PPP loans on web curiosity margin

 

 

(0.01

) %

 

 

(0.04

) %

 

 

(0.04

) %

 

 

(0.08

) %

 

 

(0.21

) %

 

 

(0.04

) %

 

 

(0.22

) %

Internet curiosity margin, excl. PPP

 

 

3.16

%

 

 

3.13

%

 

 

3.01

%

 

 

2.89

%

 

 

2.87

%

 

 

3.05

%

 

 

2.96

%

 

The next desk units for a reconciliation of pre-tax pre-provision (“PTPP”) earnings, excluding web curiosity revenue and costs on PPP loans, for every of the durations indicated:

 

 

 

Three Months Ended

 

12 months Ended

 

 

Dec 31,

 

Sep 30,

 

Jun 30,

 

Mar 31,

 

Dec 31,

 

December 31,

({Dollars} in 1000’s)

 

2022

 

2022

 

2022

 

2022

 

2021

 

2022

 

2021

Internet revenue

 

$

20,181

 

 

$

16,715

 

 

$

17,594

 

 

$

19,438

 

 

$

22,327

 

 

$

73,928

 

 

$

79,894

 

Add: Earnings tax expense

 

 

6,700

 

 

 

5,919

 

 

 

6,184

 

 

 

6,038

 

 

 

7,605

 

 

 

24,841

 

 

 

25,758

 

Earnings earlier than taxes

 

 

26,881

 

 

 

22,634

 

 

 

23,778

 

 

 

25,476

 

 

 

29,932

 

 

 

98,769

 

 

 

105,652

 

Add: (Credit score) provision for credit score losses

 

 

571

 

 

 

362

 

 

 

989

 

 

 

(3,195

)

 

 

(7,692

)

 

 

(1,273

)

 

 

(14,591

)

PTPP earnings

 

 

27,452

 

 

 

22,996

 

 

 

24,767

 

 

 

22,281

 

 

 

22,240

 

 

 

97,496

 

 

 

91,061

 

Much less: Internet curiosity revenue on PPP loans

 

 

(140

)

 

 

(667

)

 

 

(890

)

 

 

(1,941

)

 

 

(4,685

)

 

 

(3,638

)

 

 

(26,352

)

PTPP earnings, excluding web curiosity revenue on PPP loans

 

$

27,312

 

 

$

22,329

 

 

$

23,877

 

 

$

20,340

 

 

$

17,555

 

 

$

93,858

 

 

$

64,709

 

 

Enterprise Wire 2023

All information about CENTRAL PACIFIC FINANCIAL CORP.

Analyst Suggestions on CENTRAL PACIFIC FINANCIAL CORP.

Gross sales 2022 254 M

Internet revenue 2022 70,1 M

Internet Debt 2022

P/E ratio 2022 8,23x
Yield 2022 4,98%
Capitalization 569 M
569 M
Capi. / Gross sales 2022 2,24x
Capi. / Gross sales 2023 2,06x
Nbr of Workers 790
Free-Float 96,6%

Chart CENTRAL PACIFIC FINANCIAL CORP.



Length :


Interval :




Central Pacific Financial Corp. Technical Analysis Chart | MarketScreener

Technical evaluation traits CENTRAL PACIFIC FINANCIAL CORP.

Quick Time period Mid-Time period Lengthy Time period
Traits Impartial Impartial Bearish

Earnings Assertion Evolution

Promote

Purchase

Imply consensus HOLD
Variety of Analysts 3
Final Shut Worth 20,90 $
Common goal worth 23,00 $
Unfold / Common Goal 10,0%


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