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Central Pacific Financial Q1 Profit Declines

April 24, 2024 — 07:08 am EDT

Written by RTTNews.com for RTTNews->

(RTTNews) - Central Pacific Financial Corp. (CPF) Wednesday reported net income of $12.95 million, or $0.48 per share for the first quarter, lower than $16.19 million, or $0.60 per share in the year-ago quarter.

Net interest income was $50.19 million for the quarter, a decline of 7.4 percent from last year.

The Company recorded a provision for credit losses of $3.94 million in the first quarter, compared to $1.85 million a year ago.

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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Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
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