Central Pacific Stock Price, News & Analysis

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.

Central Pacific Financial Corp. (NYSE: CPF) reported net income of $17.6 million or $0.64 earnings per share for Q2 2022, a decrease from $18.7 million in Q2 2021. Total loans increased by $126.8 million (2.5%) to $5.30 billion, while deposits rose by $23.0 million (0.3%) to $6.62 billion. The bank's net interest margin improved to 3.05%. A quarterly dividend of $0.26 per share was declared, and Central Pacific Bank was named the Best Bank in Hawaii by Forbes. Despite the gain from Visa stock sale, a pension plan settlement charge impacted earnings.

Central Pacific Financial Corp. (NYSE: CPF) will report its second quarter 2022 earnings on July 27, 2022, before the NYSE opens. The management team will host a conference call and live audio webcast at 1:00 p.m. Eastern Time on the same day to discuss the results. Interested participants can dial 1-844-200-6205 to join or access the webcast via the company's investor relations website. The replay will be available until August 24, 2022. As of March 31, 2022, the company had approximately $7.3 billion in assets and operates 28 branches and 65 ATMs in Hawaii.

Central Pacific Financial Corp. (NYSE: CPF) reported net income of $19.4 million, or $0.70 per diluted share for Q1 2022, up from $18.0 million in Q1 2021. Core loans rose by $120.3 million, marking a 2.4% increase. The bank's nonperforming assets improved to 0.07% of total assets. A quarterly cash dividend of $0.26 per share was approved. The company anticipates earnings growth due to its digital transformation and Banking-as-a-Service strategy. Total assets reached $7.30 billion, with a decline in shareholders' equity to $486.3 million.

Central Pacific Financial Corp. (NYSE: CPF) will announce its Q1 2022 earnings on April 20, 2022, before the NYSE opens. The management will hold a conference call and live audio webcast at 1:00 p.m. ET (7:00 a.m. Hawaii Time) on the same day to discuss the results. Interested parties can join by calling 1-844-200-6205 or via the company's investor relations website. The call replay will be available until May 18, 2022.

As of December 31, 2021, Central Pacific Financial had approximately $7.4 billion in assets and operates 30 branches in Hawaii.

Swell Financial Inc. has secured $10 million in Series A funding, led by Park Cities Asset Management, with participation from Elevate Credit (NYSE:ELVT) and Central Pacific Financial Corp (NYSE:CPF). The funds will support the Swell App, designed to help users manage spending and investments. The partnership encourages innovation in consumer finance, with minimal entry fees for investments. Notably, Swell's advisory board includes leaders from various firms, which is expected to enhance its market position.

Elevate Credit, Inc. (NYSE: ELVT) announces collaboration with Central Pacific Financial Corp. (NYSE: CPF) as it expands into mainland U.S. through a new fintech venture, Swell. Swell will launch a consumer banking app integrating checking and credit services, with Elevate’s Blueprint™ platform offering personal lines of credit at APRs below 24%. Elevate will also invest equity in Swell, aiming to meet growing demand for flexible banking solutions. Central Pacific Bank leverages Elevate's tech to enhance its Banking as a Service (BaaS) initiative following its successful digital checking account launch.