First Hawaiian Inc. Reports Strong Q4 2024 Results

First Hawaiian Inc ( (FHB) ) has released its Q4 earnings. Here is a breakdown of the information First Hawaiian Inc presented to its investors.

First Hawaiian, Inc. is a bank holding company based in Honolulu, Hawaii, operating primarily through its subsidiary, First Hawaiian Bank, which is the largest and oldest financial institution in Hawaii, with branches across Hawaii, Guam, and Saipan. The company offers a wide range of banking services to consumer and commercial clients, including loans, deposits, wealth management, and more.

In its fourth-quarter earnings report for 2024, First Hawaiian, Inc. highlighted strong financial performance, with increases in loan and deposit balances, an expanded net interest margin, and excellent credit quality. The company also announced a quarterly cash dividend and a stock repurchase program, reflecting its commitment to returning value to shareholders.

Key financial metrics for the quarter included a net income of $52.5 million and an increase in net interest income to $158.8 million. The net interest margin expanded to 3.03%, and total loans and leases grew by $166.9 million from the previous quarter. The company also made strategic adjustments to its investment portfolio, recognizing a loss on the sale of certain securities, which is expected to enhance future earnings.

As part of its ongoing efforts to strengthen its financial position, First Hawaiian, Inc. declared a dividend of $0.26 per share and initiated a stock repurchase program worth up to $100 million. These actions, combined with effective cost management and a solid balance sheet, position the company well for future growth.

Looking ahead, the management of First Hawaiian, Inc. remains optimistic about the company’s prospects in 2025, focusing on leveraging its strong market position, enhancing operational efficiency, and continuing to support community initiatives.