This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: BOH

Year-to-date, net income was $160 million or $3.39 per share compared to $183.9 million or $3.80 per share in 2010. We realized $6.4 million in securities gains this year, compared to $42.8 million last year. Year-to-date, return on assets was 1.22%, and return on equity was 15.7%.

Our net interest margin in the fourth quarter was 3.04% compared to 3.09% in the third quarter and 3.15% in the fourth quarter of 2010. Year-to-date, net interest margin was 3.13% compared to 3.41% last year. The lower margin is due mainly to the lower interest rate environment.

The credit provision in the fourth quarter was $2.2 million, the same as the third quarter, and was $5.3 million in the fourth quarter of 2010. The credit provision for the fourth quarter of 2011 included net charge-offs of $7 million and a $4.8 million decrease to the allowance. The credit provision for the third quarter included net charge-offs of $3.7 million, and a $1.6 million decrease to the allowance.

The credit provision equaled net charge-offs for the fourth quarter of 2010. Our allowance for loan and lease losses at the end of the fourth quarter was $138.6 million or 2.5% of outstanding loan and leases. Non-performing assets were $40.8 million at the end of the fourth quarter, up $3 million from the third quarter, and down $3 million from the end of the fourth quarter of 2010. Included in non-performing loans are $25.3 million in residential mortgage loans as of the end of the year.

Non-interest income for the fourth quarter was $43.4 million compared to $50.9 million in the third quarter, and $51.5 million in the fourth quarter of 2010. The decrease was primarily due to lower debit interchange revenue as a result of the Durbin Amendment, and a decrease in mortgage banking income. We retained $34 million in salable residential mortgages in the fourth quarter and thus maintained an overall ratio of 40% of residential mortgages to total loans.

Read the rest of this transcript for free on

3 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs