FHB Achieves Record Loan, Deposit, Asset Levels
First Hawaiian Bank recently announced a net income of $59.2 million for the three-month period ending Sept. 30, 2015, an increase of 6.1 percent over the third quarter of 2014.
Net income for the nine months ending Sept. 30, 2015, was $172.5 million, up 4.6 percent over the comparable period of 2014.
FHB grew its total assets to $18.9 billion, an increase of 4.4 percent over 2014.
The bank’s loan and lease portfolio reached $10.5 billion and deposits achieved $15.4 billion for the third quarter of 2015, increases of 6.9% and 5.4%, respectively, compared to the third quarter of 2014.
“First Hawaiian Bank’s strong third quarter performance built on the momentum of the first half of the year,” said Bob Harrison, FHB chairman and CEO. “Asset quality remained solid while we continued to grow our loan portfolio, reaching record levels in loans and deposits.”
Compared to the previous year, for the first nine months ending Sept. 30, 2015, FHB achieved the following:
- Total assets reached a record $18.9 billion, up 4.4 percent.
- Total loans and leases were a record $10.5 billion, up 6.9 percent.
- Total deposits achieved a record $15.4 billion, an increase of 5.4 percent.
- Nonperforming assets to total assets remained one of the lowest in the banking industry at .11 percent.
- Efficiency ratio was 44.50 percent making First Hawaiian the most productive bank in Hawaii and one of the most efficient in the nation.
During the third quarter of 2015, FHB was the first Hawai‘i company to contribute $25,000 to the American Red Cross of the Northern Marianas Islands to support Typhoon Soudelor relief efforts in Saipan.
First Hawaiian’s 41st Annual Business Outlook Forums on Maui, Hawai‘i and Kaua‘i presented economic forecasts for each county, the state and US and global economies. They also presented the 46th annual economic forecast for O‘ahu and the state.
FHB, with $18.9 billion in total assets, was founded in 1858 and is Hawai‘i’s largest bank. It is a wholly-owned subsidiary of BNP Paribas, a leading global financial services institution.