First Hawaiian (FHB) announced the completion of a restructuring related to its available-for-sale investment securities portfolio. The Company executed the sale of $293 million of its lower-yielding available-for-sale debt securities for an estimated after-tax loss of $19.7 million. Proceeds from the sale were reinvested in $293 million of debt securities currently yielding 309 basis points more than the securities that were sold. The transaction is projected to increase net interest income by approximately $8.6 million and net interest margin by approximately 4 basis points in 2025. The transaction is projected to increase net interest income by approximately $0.5 million and net interest margin by approximately 1 basis point in the fourth quarter of 2024.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FHB:
- First Hawaiian price target raised to $27 from $25 at Barclays
- First Hawaiian price target raised to $22 from $21 at Wells Fargo
- First Hawaiian initiated with an Equal Weight at Stephens
- First Hawaiian price target raised to $21 from $20 at Wells Fargo
- First Hawaiian reports Q3 EPS 48c, consensus 44c