Bank Of Hawaii Q2 Profit Down, But Tops Estimates

(RTTNews) - Bank of Hawaii Corp. (BOH) reported that its second-quarter net income declined to $38.9 million or $0.98 per share from $56.9 million or $1.40 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share for the quarter. Analysts' estimates typically exclude special items.

Results for the latest-quarter included a provision for credit losses of $40.4 million compared to $4.0 million in the same quarter last year.

Net interest income, on a taxable equivalent basis, for the second quarter of 2020 was $127.0 million, an increase of $2.3 from $124.7 million in the prior year.

Non-interest income was $51.3 million, an increase of $5.8 million from $45.5 million in the previous year.

The company declared a quarterly cash dividend of $0.67 per share . The dividend will be payable on September 15, 2020 to shareholders of record at the close of business on August 31, 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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