Jun 30, 2024

First Hawaiian Q2 2024 Earnings Report

First Hawaiian's financial performance remained strong driven by solid revenues, disciplined expense control, and excellent credit quality.

Key Takeaways

First Hawaiian, Inc. reported a net income of $61.9 million, or $0.48 per diluted share, for the second quarter of 2024. The company's performance was driven by solid revenues, disciplined expense control, and continued excellent credit quality. Total loans and leases increased by $39.7 million, while total deposits decreased by $350.6 million. The net interest margin increased by 1 basis point to 2.92%.

Net income was $61.9 million, or $0.48 per diluted share.

Total loans and leases increased $39.7 million versus prior quarter.

Total deposits decreased $350.6 million versus prior quarter.

Net interest margin increased 1 basis point to 2.92%.

Total Revenue
$205M
Previous year: $207M
-1.3%
EPS
$0.48
Previous year: $0.49
-2.0%
Efficiency Ratio
59.22%
Previous year: 58%
+2.1%
Tier 1 Leverage Ratio
9.03%
Previous year: 8.3%
+8.8%
CET1 Capital Ratio
12.73%
Previous year: 12.05%
+5.6%
Gross Profit
$297M
Previous year: $200M
+48.6%
Cash and Equivalents
$1.11B
Previous year: $558M
+99.7%
Total Assets
$24B
Previous year: $24.5B
-2.1%

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.