Bank of Hawaii Corporation reported diluted earnings per common share of $0.93 for the third quarter of 2024, an increase from $0.81 in the linked quarter. Net income for the quarter reached $40.4 million, marking an 18.4% increase from the previous quarter.
Net interest income for the third quarter was $117.6 million, up 2.4% from the linked quarter, with the net interest margin expanding by 3 basis points to 2.18%. Noninterest income also saw an increase, reaching $45.1 million, a 7.2% rise from the linked quarter.
The company maintained strong asset quality, with provision for credit losses at $3.0 million and total non-performing assets at $19.8 million, representing 0.14% of total loans and leases. The Board of Directors declared a quarterly cash dividend of $0.70 per share on common shares, payable on December 13, 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.