Bank Of Hawaii Q2 Profit Down, But Tops Estimates

(RTTNews) - Bank of Hawaii Corp. (BOH) reported that its second-quarter net income declined to $38.9 million or $0.98 per share from $56.9 million or $1.40 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share for the quarter. Analysts' estimates typically exclude special items.

Results for the latest-quarter included a provision for credit losses of $40.4 million compared to $4.0 million in the same quarter last year.

Net interest income, on a taxable equivalent basis, for the second quarter of 2020 was $127.0 million, an increase of $2.3 from $124.7 million in the prior year.

Non-interest income was $51.3 million, an increase of $5.8 million from $45.5 million in the previous year.

The company declared a quarterly cash dividend of $0.67 per share . The dividend will be payable on September 15, 2020 to shareholders of record at the close of business on August 31, 2020.