Central Pacific Financial Corp
NYSE:CPF

  • LAST PRICE
    21.4800
  • TODAY'S CHANGE (%)
    0.0900 (0.4208%)
  • Bid / Lots
    21.1400/ 1
  • Ask / Lots
    27.2600/ 1
  • Open / Previous Close
    21.4400 / 21.3900
  • Day Range
    21.3900
    21.6600
  • 52 Week Range
    14.2200
    22.0000
  • Volume
    92,274

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  • Apr 24, 2024

      Show headlines and story abstract

    • 6:33AM ET on Wednesday Apr 24, 2024 by MT Newswires
      Companies Mentioned: CPF
      06:33 AM EDT, 04/24/2024 (MT Newswires) -- ...

    • 6:30AM ET on Wednesday Apr 24, 2024 by Business Wire
      Companies Mentioned: CPF

      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.

    • 6:30AM ET on Wednesday Apr 24, 2024 by Dow Jones
      Companies Mentioned: CPF

    • 6:30AM ET on Wednesday Apr 24, 2024 by Dow Jones
      Companies Mentioned: CPF
      Nonperforming Assets and Accruing Loans 90+ Days Past Due (Unaudited) TABLE 7 ------------------------------------------------------------------ ------------------------ Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (Dollars in thousands) 2024 2023 2023 2023 2023 ----------- ----------- ----------- ----------- ----------- Nonaccrual loans: Commercial and industrial $ 357 $ 432 $ 352 $ 319 $ 264 Real estate: Construction -- -- -- 4,851 -- Residential mortgage 7,979 4,962 4,949 4,385 3,445 Home equity 929 834 677 797 712 Commercial mortgage 77 77 77 77 77 Consumer 790 703 597 632 815 ------ ------ ------ ------ ------ Total nonaccrual loans 10,132 7,008 6,652 11,061 5,313 ------ ------ ------ ------ ------ Other real estate owned ("OREO") -- -- -- -- -- ------ ------ ------ ------ ------ Total nonperforming assets ("NPAs") 10,132 7,008 6,652 11,061 5,313 ------ ------ ------ ------ ------ Accruing loans 90+ days past due: Real estate: Construction 588 -- -- -- -- Residential mortgage 386 -- 794 959 -- Home equity 560 229 -- 133 -- Consumer 924 1,083 2,120 2,207 1,908 ------ ------ ------ ------ ------ Total accruing loans 90+ days past due 2,458 1,312 2,914 3,299 1,908 ------ ------ ------ ------ ------ Total NPAs and accruing loans 90+ days past due $12,590 $ 8,320 $ 9,566 $14,360 $ 7,221 ====== ====== ====== ====== ====== Ratio of total nonaccrual loans to total loans 0.19% 0.13% 0.12% 0.20% 0.10% Ratio of total NPAs to total assets 0.14 0.09 0.09 0.15 0.07 Ratio of total NPAs to total loans and OREO 0.19 0.13 0.12 0.20 0.10 Ratio of total NPAs and accruing loans 90+ days past due to total loans and OREO 0.23 0.15 0.17 0.26 0.13 Quarter-to-quarter changes in NPAs: Balance at beginning of quarter $ 7,008 $ 6,652 $11,061 $ 5,313 $ 5,251 Additions 4,792 1,836 2,311 7,105 1,609 Reductions: Payments (263) (268) (5,718) (290) (505) Return to accrual status (198) (137) (207) (212) (14) Net charge-offs, valuation and other adjustments (1,207) (1,075) (795) (855) (1,028) ------ ------ ------ ------ ------ Total reductions (1,668) (1,480) (6,720) (1,357) (1,547) ------ ------ ------ ------ ------ Balance at end of quarter $10,132 $ 7,008 $ 6,652 $11,061 $ 5,313 ====== ====== ====== ====== ====== CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES Allowance for Credit Losses on Loans (Unaudited) TABLE 8 ----------------------------------------------------------------------------- ------------------------------ Three Months Ended ------------------------------------------------------------------------------ Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (Dollars in thousands) 2024 2023 2023 2023 2023 -------------- -------------- -------------- -------------- -------------- Allowance for credit losses: Balance at beginning of period $ 63,934 $ 64,517 $ 63,849 $ 63,099 $ 63,738 Provision for credit losses on loans 4,121 4,959 4,526 4,135 1,615 Charge-offs: Commercial and industrial (682) (419) (402) (362) (779) Consumer (4,838) (5,976) (4,710) (3,873) (2,686) --------- --------- --------- --------- --------- Total charge-offs (5,520) (6,395) (5,112) (4,235) (3,465) Recoveries: Commercial and industrial 90 84 261 125 250 Real estate: Construction -- -- 1 -- -- Residential mortgage 8 7 10 7 53 Home equity 6 42 -- 15 -- Consumer 893 720 982 703 908 --------- --------- --------- --------- --------- Total recoveries 997 853 1,254 850 1,211 --------- --------- --------- --------- --------- Net charge-offs (4,523) (5,542) (3,858) (3,385) (2,254) --------- --------- --------- --------- --------- Balance at end of period $ 63,532 $ 63,934 $ 64,517 $ 63,849 $ 63,099 ========= ========= ========= ========= ========= Average loans, net of deferred fees and costs $5,400,558 $5,458,245 $5,507,248 $5,543,398 $5,525,988 Ratio of annualized net charge-offs to average loans 0.34% 0.41% 0.28% 0.24% 0.16% Ratio of ACL to total loans 1.18 1.18 1.17 1.16 1.14

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