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First Hawaiian earns $51.5M in 4Q

HONOLULU (AP) — First Hawaiian Bank said its profits dropped 3 percent to $51.5 million during the fourth quarter of 2013 as the company set a record for total assets.

Bank officials said Friday that First Hawaiian’s total assets grew to $17.1 billion as of Dec. 31.

First Hawaiian CEO Bob Harrison said the asset growth has been steady year by year. He expects steady growth to continue in 2014 with construction projects underway and the economy improving.

The bank had $13.6 billion in deposits and $9.5 billion in loans and leases as of the end of the October-December reporting period.

Bank officials said its profits dropped 4.6 percent for all of 2013 to $206.9 million. The company cited a 2012 gain and lower securities sales in 2013.


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