First Hawaiian (FHB) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on th ...

Noninterest income was $51.8 million in the second quarter of 2024, an increase of $0.4 million compared to noninterest income of $51.4 million in the prior quarter. Noninterest Expense The effective tax rate was 23.3% for the quarters ended June 30, 2024 and March 31, 2024. The allowance for credit losses was $160.5 million, or 1.12% of total loans and leases, as of June 30, 2024, compared to $159.8 million, or 1.12% of total loans and leases, as of March 31, 2024. The reserve for unfunded commitments was ...

First Hawaiian, Inc. (NASDAQ:FHB) is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii's oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and mer ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-14585 FIRST HAWAIIAN, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 99-0156159 (State or Other Jur ...

Financial Data and Key Metrics Changes - The company reported net income of $54.3 million or $0.42 per share, with a return on average tangible assets of 0.94% and a return on average tangible common equity of 14.53% [40] - Total loans and leases were $14.3 billion, approximately $33 million lower than the previous quarter, with net interest income increasing by $2.6 million to $154.4 million [27][30] - The net interest margin (NIM) increased by 10 basis points to 2.91%, with a projected NIM of about 2.89% for the next quarter [30][40] Business Line Data and Key Metrics Changes - Construction loans increased by $72 million, driven by line draws for ongoing projects, while the company faced headwinds from a slowdown in the residential real estate market and a run-off in the indirect auto portfolio [27] - Non-interest income was $51.4 million, a decrease of $7 million from the prior quarter, primarily due to non-recurring income from insurance proceeds related to the Lahaina wildfires [31] Market Data and Key Metrics Changes - The statewide unemployment rate in Hawaii was 3.1%, lower than the national rate of 3.8%, indicating a stable local economy [38] - Visitor arrivals were down 0.6% and spending down 1.9% compared to 2023 levels, primarily due to declines on Maui, although excluding Maui, arrivals and spending were above 2023 levels [38] Company Strategy and Development Direction - The company continues to execute balance sheet optimization, having sold $526 million of investment securities to pay down higher-cost public time deposits [41] - The focus remains on supporting customers and managing the balance sheet effectively in response to changing interest rates [51][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in loan demand picking up in the second half of the year, with full-year growth expected in the low-single-digit range [27] - The company is cautious about the residential market, indicating that while improvements are hoped for, they are not forecasted [84] Other Important Information - The allowance for credit losses increased by $3.3 million to $159.8 million, with coverage rising to 1.12% of total loans and leases [45] - The company recorded a $6.3 million provision in the first quarter, reflecting a proactive approach to potential credit risks [45] Q&A Session Summary Question: What occurred in the criticized loans portfolio? - Management clarified that a significant portion of criticized loans was related to multi-family construction, which has since been paid off, indicating strong credit quality [2][3] Question: What is the expected insurance benefit from outstanding claims related to the Maui wildfires? - The company confirmed that the insurance benefit received this quarter was related to their branch that burned down, with further claims expected as rebuilding progresses [7][35] Question: How does the company view the balance sheet management in the current rate environment? - Management indicated that they are focused on managing the balance sheet effectively, considering the current economic conditions and interest rate outlook [49][62] Question: What are the expectations for loan growth and the commercial pipeline? - The company noted ongoing deal flow from commercial real estate and expects to see strength in construction loans, with a cautious outlook on overall loan growth [73][74] Question: How is the credit quality performing in the Shared National Credit portfolio? - Management acknowledged some weakness but expressed confidence in the overall strength of the portfolio, with no loans on non-accrual status [88]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------|-----------|-----------|---------|---------|-----------|--------------|-----------|------------| | ($ in 000's) | C&I | CRE | Const | Lease | Mortgage | Home Equity | Consumer | Total | | 12/31/2023 | 14,956 | 43,944 | 10,392 | 1,754 | 36,880 | 11,728 | 36,879 | 156,533 | | Charge-offs -909 - - - - - -4,854 -5,763 | | | | | | | | | | Recoveries 211 - - - 30 44 1,689 1,974 | | | | | | | | | | Provision | 2,829 ...

First Hawaiian (FHB) reported $205.8 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.8%. EPS of $0.42 for the same period compares to $0.52 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $202.41 million, representing a surprise of +1.67%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.42.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

First Hawaiian (FHB) came out with quarterly earnings of $0.42 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this bank holding company would post earnings of $0.45 per share when it actually produced earnings of $0.37, delivering a surprise of -17.78%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.First Hawaiian, whi ...

EXHIBIT 99.1 For Immediate Release First Hawaiian, Inc. Reports First Quarter 2024 Financial Results and Declares Dividend HONOLULU, Hawaii April 26, 2024--(Globe Newswire)--First Hawaiian, Inc. (NASDAQ:FHB), ("First Hawaiian" or the "Company") today reported financial results for its quarter ended March 31, 2024. "I'm pleased to report that we started 2024 with a solid first quarter," said Bob Harrison, Chairman, President, and CEO. "We had strong earnings, continued excellent credit quality and continued ...

HONOLULU, April 26, 2024 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ:FHB), ("First Hawaiian" or the "Company") today reported financial results for its quarter ended March 31, 2024. "I'm pleased to report that we started 2024 with a solid first quarter," said Bob Harrison, Chairman, President, and CEO. "We had strong earnings, continued excellent credit quality and continued to grow our capital levels."  On April 24, 2024, the Company's Board of Directors declared a quarterly cash dividend of $0.26 per ...