This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bank Of Hawaii's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Our comments today will refer to the financial information included in the earnings announcement this morning. Before we get started, let me remind you that today's conference call will contain some forward-looking statements, and while we believe our assumptions are reasonable, there are a variety of reasons the actual results may differ materially from those projected.

And now, I'd like to turn the call over to Peter Ho.

Peter Ho

Thanks, Cindy. Good morning or good afternoon everyone. We certainly appreciate your interest in listening in today. I’m going to provide you with some general comments to begin and then I'll turn the call over to Kent, who'll provide color on the quarter's financials. As customary, we'll then provide an update on risk for the quarter and I'll finish up with some concluding thoughts and then certainly we'll be delighted to answer whatever questions you might have.

Bank of Hawaii posted solid results for the fourth quarter of 2011. Despite continued revenue headwinds confronting the industry, Bank of Hawaii was able to generate fully diluted earnings per share modestly ahead of fourth quarter 2010 levels. Loans were up nicely in the quarter in almost all categories. Average core deposits were up meaningfully in both our consumer and commercial businesses. The number of demand accounts grew 10% and 4% respectively in our consumer and commercial businesses in 2011. Our credit capital and liquidity positions remained strong and our hallmark of our franchise.

And now let me turn the call over to Kent. Kent?

Kent Lucien

Thank you, Peter. Good morning. Net income for the fourth quarter was $39.2 million or $0.85 per share, compared to $43.3 million or $0.92 per share in the third quarter and $40.6 million or $0.84 per share in the fourth quarter of 2010.

The return on assets in the fourth quarter was 1.17%, and return on equity was 15.2%. We reduced our share count by 1.3% in the fourth quarter and by 4% for the full year.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs