Central Pacific Stock Price, News & Analysis

Central Pacific Financial Corp. (NYSE: CPF) reported a net income of $16.2 million, or $0.60 per diluted share for Q1 2023. This reflects a decrease from $20.2 million or $0.74 in Q4 2022. Total loans rose to $5.56 billion, with deposits at $6.75 billion, showing minor increases. Nonperforming assets stayed stable at $5.3 million, representing 0.07% of total assets. The company declared a quarterly cash dividend of $0.26 per share. Despite challenges in the banking industry, management highlighted strong asset quality, liquidity with $198.8 million in cash, and a robust capital position. However, net interest income declined by 3.7% from the previous quarter to $54.2 million. The efficiency ratio increased to 64.58%.

Central Pacific Financial Corp. (NYSE: CPF) is set to release its first quarter 2023 earnings on April 26, 2023, before the market opens. A conference call and live audio webcast will take place at 1 p.m. Eastern Time on the same day to discuss the results. Individuals can listen by calling 1-833-470-1428 or via the company's investor relations website. The company, based in Hawaii, had approximately $7.43 billion in assets as of December 31, 2022, with its main subsidiary, Central Pacific Bank, operating 27 branches and 64 ATMs across the state.

Central Pacific Financial Corp. (NYSE: CPF) reported a net income of $20.2 million for Q4 2022, marking a 21% increase from Q3, yet an 8% decrease year-over-year. The company's full-year net income was $73.9 million, down from $79.9 million in 2021. Total loans rose by 2.5% in Q4, totaling $5.56 billion, with an annual increase of 8.9%. Total deposits increased by 2.7% to $6.74 billion in the quarter. The Board approved a cash dividend of $0.26 per share and a $25 million stock repurchase program. Despite robust asset quality, the rise in unrealized losses from securities amid increasing interest rates impacted shareholder equity.

Central Pacific Financial Corp. (NYSE: CPF) will release its fourth quarter 2022 earnings on January 25, 2023, before the market opens. A conference call will follow at 1 p.m. ET to discuss results. As of September 30, 2022, the company reported approximately $7.34 billion in assets. Investors can participate by calling 1-844-200-6205 or through a live audio webcast on the company’s investor relations website. A replay will be available until February 24, 2023.

Central Pacific Financial Corp. (NYSE: CPF) has appointed Jason Fujimoto to its Board of Directors, effective January 1, 2023. Fujimoto, president and CEO of HPM Building Supply, will also serve on the Audit Committees of both CPF and Central Pacific Bank. His experience in supporting small businesses, particularly in the construction sector, aligns with CPF’s mission. With approximately $7.34 billion in assets, CPF continues to focus on community support and effective customer service in Hawaii.

Central Pacific Financial Corp. (CPF) reported a net income of $16.7 million for Q3 2022, equating to $0.61 per diluted share. Total loans grew by 2.3% to $5.42 billion, while net interest income rose 4.5% from the previous quarter to $55.4 million. The net interest margin improved to 3.17%. The Board approved a $0.26 quarterly dividend, payable on December 15, 2022. Arnold Martines will succeed Paul Yonamine as CEO effective January 1, 2023, highlighting a strategic shift towards a digital-first banking approach.

Central Pacific Financial (NYSE CPF) announced the appointment of Arnold Martines as the new CEO of both CPF and Central Pacific Bank, effective January 1, 2023. Martines, who has over 25 years of banking experience and has been with CPB since 2004, succeeds Paul Yonamine, who is retiring. During his tenure, Martines led the bank's efforts in the PPP during the pandemic, originating 11,833 loans worth $870 million. He also oversaw a $40 million renovation and rebranding initiative. Catherine Ngo will serve as Chair of both boards.

Central Pacific Financial Corp. (NYSE: CPF) will release its third quarter 2022 earnings on October 21, 2022, before the New York Stock Exchange opens. Management will hold a conference call and live audio webcast at 1 p.m. Eastern Time (7 a.m. Hawaii Time) to discuss the results. Interested parties can listen by calling 1-844-200-6205 (access code: 420241) or via the webcast. A replay will be available until November 21, 2022.