First Hawaiian, Inc. reported net income of $59.2 million, or $0.47 diluted earnings per share, for the first quarter ended March 31, 2025. This represents a 6.8% increase in net income compared to $54.2 million in the same period of 2024.
Net interest income rose by 4% year-over-year to $160.5 million, with the net interest margin expanding by 17 basis points to 3.08%. Noninterest expense decreased by 4% to $123.6 million, primarily due to lower regulatory assessment fees and contracted services.
Loan and lease balances saw a modest 1% decrease from December 31, 2024, totaling $14.3 billion, while deposit balances also decreased slightly by 1% to $20.2 billion. The allowance for credit losses increased to $166.6 million, or 1.17% of total loans and leases, driven by macroeconomic uncertainty captured in modeling rather than observed portfolio weakness. The company repurchased $25 million of its common stock during the quarter.
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