CPF Q2 net income $14.5M ($0.53 EPS) down 18% YoY; NIM slips 12bps to 2.96%

CENTRAL PACIFIC FINANCIAL CORP

2023-Q2 EPS reported $1.13 revenue$21,444,000

Net income $14.5M ($0.53 diluted) vs $16.2M ($0.60) in Q1 2023 and $17.6M ($0.64) in Q2 2022.
Net interest margin contracted 12 bps sequentially to 2.96% as deposit costs outpaced loan yields.
Total deposits rose $58.8M to $6.81B; core deposits up $10.1M. 65% of deposits are FDIC-insured or collateralized.
Nonperforming assets increased to $11.1M (0.15% of assets) from $5.3M, driven by two Hawaii construction loans later paid off in July.
Capital ratios improved; board declared $0.26 quarterly dividend, payable Sept 15, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CENTRAL PACIFIC FINANCIAL CORP reported the quarter ended June 30, 2023 results: net income $14.5 million, EPS $0.53 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $14.5 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

On July 26, 2023, Central Pacific Financial Corp. (the "Company") issued a press release regarding its results of operations and financial condition for the quarter ended June 30, 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

CENTRAL PACIFIC FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000701347-23-000030

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