First Hawaiian Q2 Net Income Rises, NIM Expands to 3.25%
FHB sits 28% above its 52-week low of $22.645.
Summary
First Hawaiian reported Q2 net income of $73.4 million, or $0.60 per share, with net interest margin expanding 6 basis points to 3.25%. Loans grew $136.5 million sequentially, and the credit loss provision was a modest $5.6 million. This follows the recent announcement of the $2 billion all-stock acquisition of TriCo Bancshares, which will significantly expand the bank's California footprint. The earnings show steady core performance ahead of that integration, with improving profitability metrics. The quarterly dividend was held unchanged.
At the time of this announcement, FHB was trading at $29.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $22.65 to $30.58. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.