Central Pacific Stock Price, News & Analysis

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.

Central Pacific Financial Corp. (NYSE: CPF) reported a strong second quarter in 2021, achieving net income of $18.7 million or $0.66 EPS, a significant increase from $9.9 million or $0.35 EPS in Q2 2020. The company resumed share repurchases, buying 156,600 shares at an average cost of $27.63. Total assets reached $7.18 billion, with loans totaling $5.08 billion. The quarterly cash dividend was declared at $0.24 per share, payable on September 15, 2021. The credit for loan losses was $3.4 million, indicating improved asset quality as Hawaii's economy rebounds.

Central Pacific Financial Corp. (NYSE: CPF) will announce its second quarter 2021 earnings on July 28, 2021, before the NYSE opens. A conference call and live audio webcast will occur at 1:00 p.m. Eastern Time. Interested parties can join the call by calling 1-877-505-7644 or via the investor relations website. The earnings release is significant as the bank holding company, with approximately $7.0 billion in assets and 31 branches in Hawaii, continues to monitor its financial health amid evolving market conditions.