First Hawaiian 3Q earnings grows by 1 percent

Published On: Oct 21 2013 11:10:14 AM HST
Money
HONOLULU -

First Hawaiian Bank says its earnings grew less than 1 percent in the third quarter to nearly $51 million, but profits for the year are down in the first nine months of 2013.

Bank officials said Monday that its earnings of $50.9 million for the July through September period were 0.6 percent more than its net income of $50.6 million during the third quarter last year.

But the bank's net income of $155.4 million for the first nine months of 2013 was 5.1 percent less than the $163.8 million earned during the same time frame last year.

First Hawaiian says its income is down this year because of lower sales of securities, plus a one-time gain last year from selling leased equipment.

The bank says its total assets hit $16.7 billion.

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