First Hawaiian Reports Record Total Assets

Bob Harrison, President and Chief Operating Officer, First Hawaiian Bank. Courtesy of FHB.

By Sonia Isotov

First Hawaiian Bank today announced its 2012 first quarter results including an increase of 6.5% in total assets, which grew to $16.1 billion, the highest asset total in company history.

First quarter net income o $53.5 million represents a 1.9% increase over the $52.5 million earned in the first quarter of 2011. The announcement was made today by Bob Harrison, First Hawaiian Bank president and chief executive officer.

“Continuing the momentum we achieved in 2011, the bank’s solid first quarter performance represents a 6.2% increase over the previous quarter,” Harrison said.

“We achieved growth in our loan portfolio despite a slow construction sector. We remain optimistic that increases in tourism and consumer confidence will help boost Hawaii’s economy in the future.”

Compared to the previous year, for the first three months ending March 31, 2012, First Hawaiian achieved the following:

• Total assets: grew to $16.1 billion, an increase of 6.5% and the highest asset total in the company’s history.
• Deposits:  were $12.4 billion, up 15.0%.
• Loans and leases:  were $8.4 billion, a 2.8% increase
• Capital (Net Worth):  was in excess of $2.6 billion, and remained well above Hawaii banks and in the top quartile nationally as a percentage of total assets, according to company statement.