Central Pacific Financial Q1 earnings: $12.9M net income, EPS $0.48; deposits fall $228.7M

CENTRAL PACIFIC FINANCIAL CORP

2024-Q1 EPS reported $0.48 revenue$11,244,000

Net income $12.9M, diluted EPS $0.48 vs $0.55 prior quarter and $0.60 year ago.
Net interest margin 2.83% vs 2.84% prior quarter and 3.08% year ago.
Total loans $5.40B (-$37.6M QoQ); total deposits $6.62B (-$228.7M QoQ, incl. $139.1M government time deposit runoff).
Board declared $0.26/share quarterly cash dividend payable June 17, 2024 to holders of record May 31, 2024.
Nonperforming assets $10.1M (0.14% of assets) vs $7.0M prior quarter; net charge-offs $4.5M.

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 0.97

CENTRAL PACIFIC FINANCIAL CORP reported for the quarter ended March 31, 2024 results: net income net income of $12.9 million, EPS fully diluted earnings per share ("EPS") of $0.48.

Period: for the quarter ended March 31, 2024
Net income: net income of $12.9 million
EPS: fully diluted earnings per share ("EPS") of $0.48
Result: reported results

Exact text from the filing

Central Pacific Financial Corp. (NYSE: CPF) (the "Company"), parent company of Central Pacific Bank (the "Bank" or "CPB"), today reported net income of $12.9 million, or fully diluted earnings per share ("EPS") of $0.48 for the first quarter of 2024, compared to net income of $14.9 million, or EPS of $0.55 in the previous quarter and net income of $16.2 million, or EPS of $0.60 in the year-ago quarter.

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Source: SEC EDGAR

accession 0000701347-24-000014

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