secwatch.observer — SEC 8-K summary
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Issuer:     CENTRAL PACIFIC FINANCIAL CORP (CPF)
CIK:        0000701347
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000701347-23-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/701347/000070134723000030/0000701347-23-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/701347/000070134723000030/cpf-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000701347-23-000030

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