Central Pacific Financial Q1 net income $19.4M, EPS $0.70; core loans grow 2.4% QoQ; dividend $0.26

CENTRAL PACIFIC FINANCIAL CORP

2022-Q1 EPS reported $0.70 revenue$7,113,000

Net income of $19.4M ($0.70 diluted EPS) vs $18.0M ($0.64) a year ago and $22.3M ($0.80) prior quarter.
Core loans (non-PPP) grew $120.3M, or 2.4% (9.6% annualized), QoQ; PPP loans declined $47.1M.
Net interest margin 2.97% vs 3.19% a year ago; net interest income $50.9M vs $49.8M YoY.
Credit provision of $3.2M; nonperforming assets improved to 0.07% of total assets from 0.08%.
Board declared $0.26/share quarterly dividend; company repurchased 234,981 shares at avg $28.65 in Q1.

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