Bank of Hawaii Corporation Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 25, 2016 at 01:37 pm
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Bank of Hawaii Corporation announced consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total interest income of $111,370,000 compared to $106,169,000 a year ago. Net interest income was $101,644,000 compared to $96,632,000 a year ago. Income before provision for income taxes was $59,683,000 compared to $61,210,000 a year ago. Net income was $42,832,000 or $0.99 per diluted share compared to $41,191,000 or $0.94 per diluted share a year ago. Return on average assets was 1.11% compared to 1.10% a year ago. Return on average shareholders' equity was 15.41% compared to 15.33% a year ago. As at December 31, 2015, the company's book value per share was $25.79 compared to $24.13 a year ago. As at December 31, 2015, the company's tangible book value per share was $25.06 compared to $23.41 a year ago.
For the year, the company reported total interest income of $432,110,000 compared to $417,633,000 a year ago. Net interest income was $394,087,000 compared to $379,656,000 a year ago. Income before provision for income taxes was $231,202,000 compared to $237,638,000 a year ago. Net income was $160,704,000 or $3.70 per diluted share compared to $163,042,000 or $3.69 per diluted share a year ago. Return on average assets was 1.06% compared to 1.14% a year ago. Return on average shareholders' equity was 14.82% compared to 15.50% a year ago.
Bank of Hawaii Corporation is a bank holding company. The Company provides a range of financial products and services primarily to customers in Hawaii, Guam, and other Pacific Islands. It is also engaged in securities brokerage, investment advisory services and providing credit insurance. It operates through three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers a range of financial products and services, including loan, deposit and insurance products; private banking and international client banking services; trust services; investment management; and institutional investment advisory services. The Commercial Banking segment offers products, including corporate banking, commercial real estate loans, commercial lease financing, auto dealer financing and deposit products. The Treasury consists of corporate asset and liability management activities, including interest rate risk management and a foreign currency exchange business.