Welcome to our dedicated page for Central Pacific news (Ticker: CPF), a resource for investors and traders seeking the latest updates and insights on Central Pacific stock.
Central Pacific Financial Corp. reports recurring developments for a Hawaii-based bank holding company whose primary subsidiary, Central Pacific Bank, provides commercial banking services in the state. Company updates center on quarterly and annual earnings, net interest and fee income, loan and deposit activity, asset quality, liquidity, regulatory capital ratios, and operating expenses.
News also covers capital actions such as common-stock repurchases, earnings-call scheduling, branch and ATM network references, and recognition tied to small-business lending. The company’s disclosures place its banking operations within a single operating segment focused on deposits, commercial and residential lending, construction lending, consumer loans, investment securities, and related service fees.
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.
Central Pacific Financial Corp. (NYSE: CPF) reported record net income of $22.3 million for Q4 2021, translating to earnings per share (EPS) of $0.80, a significant increase from $12.2 million or $0.43 EPS in Q4 2020. For the full year, net income reached $79.9 million ($2.83 EPS), up from $37.3 million ($1.32 EPS) in 2020. The Company launched a Banking-as-a-Service initiative and plans to invest in fintech. A quarterly cash dividend of $0.26 was declared, with a 4% increase from the prior quarter. Additionally, a $30 million share repurchase program was authorized.
Central Pacific Financial Corp. (NYSE: CPF) will announce its fourth quarter 2021 earnings on January 26, 2022, prior to the NYSE opening. Management will host a conference call and live audio webcast at 1:00 p.m. Eastern Time to discuss the results. Interested parties can join the call by calling 1-844-200-6205 (access code: 319900) or via the company's investor relations website. A replay will be accessible until February 25, 2022 by calling 1-866-813-9403 (access code: 961340).
Central Pacific Financial Corp. (NYSE: CPF) has appointed Jonathan B. Kindred as a new director, enhancing its board from 11 to 12 members effective November 1, 2021. Kindred brings over 35 years of experience in financial services, including a significant leadership role at Morgan Stanley Japan. His appointment aims to leverage his extensive knowledge across the financial landscape, supporting CPF’s core business strategies and digital initiatives. The bank, with approximately $7.3 billion in assets as of September 30, 2021, continues to strengthen its leadership team.
Central Pacific Financial Corp. (NYSE: CPF) reported a net income of $20.8 million for Q3 2021, with fully diluted EPS of $0.74, significantly up from $6.9 million or $0.24 in Q3 2020. The growth was attributed to strong core loan and deposit increases and improved net interest margins at 3.31%. A quarterly cash dividend of $0.25 per share was declared, a 4.2% increase from the previous quarter. The company returned $30.2 million to shareholders in 2021 via dividends and share repurchases, maintaining a robust capital position while focusing on digital innovation.
Central Pacific Financial (NYSE CPF) announced executive leadership promotions, effective January 1, 2022. Arnold Martines will transition from Executive Vice President to President and COO, while David Morimoto becomes Senior Executive Vice President and CFO. Kevin Dahlstrom is appointed Chief Strategy Officer. Catherine Ngo will now serve as Executive Vice Chair. These changes aim to enhance operational efficiencies and build on the bank's success in implementing the RISE2020 initiative, a $40 million investment plan. Central Pacific Bank has assets totaling approximately $7.2 billion as of June 30, 2021.
Central Pacific Financial Corp. (NYSE: CPF) will announce its third quarter 2021 earnings on October 27, 2021, prior to the NYSE opening. A conference call and live audio webcast will follow at 1:00 p.m. Eastern Time to review the results. Interested parties can join the call by dialing 1-877-505-7644 or via the company's investor relations website. The replay will be available until November 27, 2021. As of June 30, 2021, the company reported approximately $7.2 billion in assets.