Central Pacific Financial Q2 net income $17.6M, EPS $0.64; loan growth 10% annualized

CENTRAL PACIFIC FINANCIAL CORP

2022-Q2 EPS reported $1.33 revenue$14,916,000

Net income $17.6M ($0.64 diluted EPS) vs $18.7M ($0.66) in Q2 2021; ROA 0.96%, ROE 14.93%.
Total loans $5.30B, up $126.8M (10.0% annualized) QoQ; net interest margin expanded 8bp to 3.05%.
Includes $8.5M gain on sale of Visa Class B stock, partially offset by $4.9M non-cash pension settlement charge.
Nonperforming assets $5.0M (0.07% of assets); allowance for credit losses 1.23% of loans.
Board declares $0.26 quarterly dividend (payable Sept 15, record Aug 31); repurchased 174,429 shares in Q2.

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