Mar 31, 2024

First Hawaiian Q1 2024 Earnings Report

Reported a solid first quarter with strong earnings, excellent credit quality, and capital growth.

Key Takeaways

First Hawaiian, Inc. reported a net income of $54.2 million, or $0.42 per diluted share, for the quarter ended March 31, 2024. The company saw a slight decrease in total loans and leases, and a decrease in total deposits. The net interest margin increased by 10 basis points to 2.91%.

Net income was $54.2 million, or $0.42 per diluted share.

Total loans and leases decreased by $33.3 million versus the prior quarter.

Total deposits decreased by $663.2 million versus the prior quarter.

Net interest margin increased 10 basis points to 2.91%.

Total Revenue
$206M
Previous year: $216M
-4.8%
EPS
$0.42
Previous year: $0.52
-19.2%
Efficiency Ratio
62.15%
Previous year: 54.46%
+14.1%
Net Interest Margin
2.91%
Previous year: 3.11%
-6.4%
Tier 1 Leverage Ratio
8.8%
Previous year: 8.26%
+6.5%
Gross Profit
$296M
Previous year: $208M
+42.3%
Cash and Equivalents
$202M
Previous year: $866M
-76.6%
Total Assets
$24.3B
Previous year: $24.9B
-2.4%

First Hawaiian

First Hawaiian

Forward Guidance

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance.