First Hawaiian, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total interest income of $138,313,000 against $122,107,000 a year ago. Income before provision for income taxes was $93,868,000 against $80,616,000 a year ago. Net income was $56,552,000 or $0.41 per basic and diluted share against $50,211,000 or $0.36 per basic and diluted share a year ago. Return on average total assets was 1.14% against 1.04% a year ago. Core return on average total assets (non-GAAP) was 1.13% against 1.03% a year ago. Return on average tangible assets was 1.20% against 1.09% a year ago. Core return on average tangible assets (non-GAAP) was 1.19% against 1.09% a year ago. Return on average total stockholders' equity was 8.96% against 7.23% a year ago. Core return on average total stockholders' equity (non-GAAP) was 8.88% against 7.17% a year ago. Return on average tangible stockholders' equity was 14.88% against 11.31% a year ago. Core return on average tangible stockholders' equity (non-GAAP) was 14.73% against 11.22% a year ago. Core net income (non-GAAP) was $56,001,000 or $0.40 per basic and diluted share against $49,834,000 or $0.36 per basic and diluted share a year ago. The increases in net interest income compared to the third quarter of 2016 and the fourth quarter of 2015 were due to higher average balances of loans and investment securities and higher yields on investment securities, partially offset by higher average deposit balances.

For the year, the company reported total interest income of $518,520,000 against $483,846,000 a year ago. Income before provision for income taxes was of $371,829,000 against $343,227,000 a year ago. Net income was $230,178,000 or $1.65 per basic and diluted share against $213,780,000 or $1.53 per basic and diluted share a year ago. Return on average total assets was 1.19% against 1.14% a year ago. Core return on average total assets (non-GAAP) was 1.12% against 1.05% a year ago. Return on average tangible assets was 1.26% against 1.20% a year ago. Core return on average tangible assets (non-GAAP) was 1.18% against 1.10% a year ago. Return on average total stockholders' equity was 8.96% against 7.81% a year ago. Core return on average total stockholders' equity (non-GAAP) was 8.45% against 7.18% a year ago. Return on average tangible stockholders' equity was 14.64% against 12.28% a year ago. Core return on average tangible stockholders' equity (non-GAAP) was 13.80% against 11.28% a year ago. Book value per share was $17.75 against $19.63 a year ago. Tangible book value per share was $10.62 against $12.49 a year ago. Core net income (non-GAAP) was $217,111,000 or $1.56 per basic and diluted share against $196,315,000 or $1.41 per basic and diluted share a year ago.

Net charge offs for the quarter ended December 31, 2016 were $3.4 million, or 0.12% of average loans and leases on an annualized basis, compared to $3.4 million, or 0.12% of average loans and leases on an annualized basis for the quarter ended September 30, 2016 and $2.5 million, or 0.09% of average loans and leases on an annualized basis for the quarter ended December 31, 2015.