Central Pacific Financial Q3 Profit Declines, But Tops Estimates

RTTNews | 951 dni temu
Central Pacific Financial Q3 Profit Declines, But Tops Estimates

(RTTNews) - Central Pacific Financial Corp. (CPF) the parent company of Central Pacific Bank, on Friday reported that net income for the third quarter declined to $16.72 million or $0.61 per share from $20.82 million or $0.74 per share in the prior-year quarter.

The company recorded a provision for credit loss of $0.36 million, compared to a benefit of $2.64 million last year.

Net interest income declined to $55.37 million from $56.09 million in the year-ago quarter. Other operating income also decreased to $9.63 million from $10.25 million a year ago.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share on revenues of $55.41 million for the quarter. Analysts' estimates typically exclude special items.

On Thursday, the Company's Board of Directors declared a quarterly cash dividend of $0.26 per share on its outstanding common shares, payable on December 15, 2022 to shareholders of record at the close of business on November 30, 2022.

The Company also announced the promotion of President and Chief Operating Officer Arnold Martines to Chief Executive Officer of both the Company and the Bank, succeeding Paul Yonamine who will become Chairman Emeritus of the Company and the Bank, as well as an advisor to Martines.

Also, Catherine Ngo, presently Executive Vice Chair, will become Chair of the Board of Directors of both the Company and the Bank. All changes will be effective January 1, 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Central Pacific Financial Q2 Profit Declines, But Meets Estimates

Central Pacific Financial Q2 Profit Declines, But Meets Estimates

Central Pacific Financial Corp. (CPF) the parent company of Central Pacific Bank, on Wednesday reported that net income for the second quarter declined to $14.48 million or $0.53 per share from $17.59 million or $0.64 per share in the prior-year quarter.
RTTNews | 673 dni temu
Central Pacific Financial Q4 Profit Declines, But Tops Estimates

Central Pacific Financial Q4 Profit Declines, But Tops Estimates

Central Pacific Financial Corp. (CPF) the parent company of Central Pacific Bank, on Wednesday reported that net income for the fourth quarter declined to $20.18 million or $0.74 per share from $22.33 million or $0.80 per share in the prior-year quarter.
RTTNews | 855 dni temu
U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.
RTTNews | 4g 45 minut temu
U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.
RTTNews | 4g 48 minut temu
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | 5g 22 minut temu
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | 5g 50 minut temu
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | 6g 4 minut temu