Bank Of Hawaii Shares Rise In Morning Trade

(RTTNews) - Shares of Bank of Hawaii Corporation (BOH) are rising more than 3% Monday morning at $55.71, following quarterly results.

The company reported earnings of $44.09 milion or $1.12 per share for the second quarter, lower than $54.89 million or $1.38 per share in the same quarter a year ago, but in line with the average estimate of analysts polled by Thoson-Reuters of $1.12 per share.

Net interest income for the second quarter was $124.3 million, a decrease of 6.4% from the same quarter of 2022, primarily due to higher funding costs.

The allowance for credit losses on loans and leases was $145.4 million at June 30. 2023 a decrease of $3.1 million from June 30, 2022.

BOH has traded in the range of $30.83 - $85.45 in the last 1 year.