Income and Assets Increase at First Hawaiian Bank

By Maui Now Staff

First Hawaiian Bank’s net income for the first half of 2015 was $113.3 million, an increase of 3.8 percent over the first half of 2014, the bank reported last week. The second quarter net income of $56.8 million was up 1.6 percent over the comparable quarter last year. First Hawaiian Bank’s total assets of $18.7 billion increased 6.7 percent over 2014.

The bank’s loan and lease portfolio reached a record $10.3 billion; deposits were $15.2 billion in second quarter 2015, with increases of 6.6 percent and 7.7 percent, respectively, compared to the second quarter of last year.

The announcement was made by Bob Harrison, First Hawaiian Bank chairman and CEO.

“We are very pleased with the bank’s steady performance in the second quarter,” said Harrison. “The results demonstrate First Hawaiian Bank’s commitment to our customers in supporting their needs. Our capital strength and credit quality are among the highest in our market, allowing us to focus on delivering value-added solutions and expertise to our customers for the long-term.”

Compared to the previous year, for the first six months ended June 30, 2015, First Hawaiian achieved the following:

• Total assets: $18.7 billion, up 6.7 percent.
• Total loans and leases: were a record $10.3 billion, up 6.6 percent.
• Total deposits: $15.2 billion, up 7.7 percent.
• Nonperforming assets to total assets: remained one of the lowest in the banking industry at 0.11 percent.
• Efficiency ratio: 44.93 percent, continuing the trend as the most productive bank in Hawai‘i and one of the most efficient in the nation.

In the second quarter of 2015, First Hawaiian Bank noted the following accomplishments and milestones:

• Apple Pay is now available to all First Hawaiian Bank personal credit and debit Mastercard customers including Priority Destinations and Priority Reward card products. Customers can make payments using their compatible Apple iPhone 6 and iPad mobile devices at over 220,000 stores nationwide.
• First Hawaiian Bank became the first company in the state to sign Marcus Mariota, Heisman Trophy winner and NFL Tennessee Titans football quarterback. Mariota will be featured in the bank’s “It All Starts with Yes” branding campaign.
• Eric Yeaman, former Hawaiian Telcom CEO, was named First Hawaiian Bank president and COO. Bob Harrison to continue to serve as First Hawaiian Bank chairman and CEO.
• The First Hawaiian Bank second quarter 2015 Business Activity Report showed Hawai‘i credit and debit card sales volume increased by 6.26 percent with growth in 12 out of 16 sectors. This was the 22nd consecutive quarter of positive growth.

First Hawaiian Bank, founded in 1858, is Hawai‘i’s oldest and largest bank. It is a wholly-owned subsidiary of BNP Paribas, a leading global financial services institution.