First Hawaiian, Inc. reported net income of $52.5 million, or $0.41 diluted earnings per share, for the fourth quarter ended December 31, 2024. Net interest income increased by $2.0 million, or 1.3%, to $158.8 million compared to the prior quarter, driven by an 8 basis point expansion in net interest margin to 3.03%.
The company's loan and deposit balances grew, with gross loans and leases increasing by $166.9 million, or 1.2%, to $14.4 billion, and total deposits rising by $94.5 million, or 0.5%, to $20.3 billion. Noninterest income was $29.4 million, impacted by a $26.2 million loss on the sale of investment securities, while noninterest expense decreased by $2.0 million to $124.1 million.
First Hawaiian's Board of Directors declared a quarterly cash dividend of $0.26 per share and adopted a new stock repurchase program for up to $100.0 million of its outstanding common stock during 2025. The company repurchased $40.0 million of common stock in the fourth quarter of 2024, demonstrating a commitment to shareholder returns.
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