News Column

BRIEF: Bankoh beats analysts' forecasts despite dip in earnings

January 27, 2014

By Dave Segal, The Honolulu Star-Advertiser

Jan. 27 -- Bank of Hawaii Corp. said today its net income slipped 3.1 percent in the fourth quarter as mortgage banking revenue dropped sharply from the year-earlier period. The state's second-largest bank still beat analysts' forecasts, however, as it posted a profit of $39.1 million , or 88 cents a share, compared with $40.3 million , or 90 cents a share, a year ago. Analysts were estimating an average of 86 cents a share for last quarter. Bankoh's noninterest income, which includes the mortgage banking revenue, fell 14.5 percent to $45.3 million from $53 million . It had mortgage banking revenue of $2.8 million in the fourth quarter, down 75 percent from $11.3 million a year ago. In other areas, the bank's assets rose 2.6 percent to $14.1 billion , loans and leases increased 4.1 percent to $6.1 billion and deposits were up 3.3 percent to $11.9 billion . ___ (c)2014 The Honolulu Star-Advertiser Visit The Honolulu Star-Advertiser at Distributed by MCT Information Services

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Source: Honolulu Star-Advertiser (HI)

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