Central Pacific Financial Q3 Profit Edges Up

(RTTNews) - Central Pacific Financial Corp. (CPF) Wednesday reported net income of $13.31 million or $0.49 per share for the third quarter compared with $13.14 million, or $0.49 per share in the year-ago quarter.

The latest quarter results were impacted by $3.1 million in pre-tax expenses related to the company's evaluation of a strategic opportunity. Excluding items, earnings were $15.7 million or $0.58 per share.

Net interest income was $53.85 million for the quarter, up from $51.93 million last year.

The company recorded a provision for credit losses of $2.8 million, lower than $4.9 million in the year-ago quarter.

On October 29, the company's Board has declared a quarterly dividend of $0.26 per share payable on December 16 to shareholders of record on November 29.