Welcome to our dedicated page for Central Pacific Financial Corporation news (Ticker: CPF), a resource for investors and traders seeking the latest updates and insights on Central Pacific Financial Corporation stock.
Central Pacific Financial Corporation (CPF) is a well-established financial institution that has been serving the community since 1954. Headquartered in Hawaii, Central Pacific Financial Corporation operates under its primary subsidiary, Central Pacific Bank, which boasts a robust presence with branches spread across the state. The company's mission is deeply rooted in delivering exceptional service to its customers while significantly contributing to the community.
Core Services and Products
- Banking Services: Central Pacific Bank offers a comprehensive array of commercial banking products and services. These include time and demand deposits, which provide customers a variety of savings and checking account options.
- Loan Origination: The bank specializes in various types of loans such as commercial loans, construction loans, commercial and residential mortgage loans, and consumer loans. This diverse portfolio helps support both individual clients and businesses in their financial endeavors.
- Investment Services: Central Pacific Bank also generates income through interest on investment securities. This contributes to the bank's overall financial stability and growth.
- Fee-Based Services: The institution earns additional revenue from fees associated with loans, deposits, and other banking services, further solidifying its comprehensive service model.
Insurance and Regulations
Central Pacific Bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to the applicable limits, ensuring a high level of security for its customers. However, it's noteworthy that the bank is not a member of the Federal Reserve System.
Community and Values
Central Pacific Financial Corporation is committed to creating value for its customers, employees, community, and shareholders. The company’s core values—teamwork, integrity, and exceptional service—are evident in its daily operations and long-term strategies. The bank also encourages career growth and offers excellent opportunities and benefits to its employees. For more information on career opportunities, visit their careers page.
Recent Achievements and Projects
The bank continually evolves to meet the dynamic needs of its clients. Some of its recent achievements and ongoing projects reflect its dedication to financial innovation and community service. Stay tuned for the latest updates and news about Central Pacific Financial Corporation as it continues to expand its footprint in the financial sector.
Central Pacific Financial Corp. (NYSE: CPF) reported record net income of $22.3 million for Q4 2021, translating to earnings per share (EPS) of $0.80, a significant increase from $12.2 million or $0.43 EPS in Q4 2020. For the full year, net income reached $79.9 million ($2.83 EPS), up from $37.3 million ($1.32 EPS) in 2020. The Company launched a Banking-as-a-Service initiative and plans to invest in fintech. A quarterly cash dividend of $0.26 was declared, with a 4% increase from the prior quarter. Additionally, a $30 million share repurchase program was authorized.
Central Pacific Financial Corp. (NYSE: CPF) will announce its fourth quarter 2021 earnings on January 26, 2022, prior to the NYSE opening. Management will host a conference call and live audio webcast at 1:00 p.m. Eastern Time to discuss the results. Interested parties can join the call by calling 1-844-200-6205 (access code: 319900) or via the company's investor relations website. A replay will be accessible until February 25, 2022 by calling 1-866-813-9403 (access code: 961340).
Central Pacific Financial Corp. (NYSE: CPF) has appointed Jonathan B. Kindred as a new director, enhancing its board from 11 to 12 members effective November 1, 2021. Kindred brings over 35 years of experience in financial services, including a significant leadership role at Morgan Stanley Japan. His appointment aims to leverage his extensive knowledge across the financial landscape, supporting CPF’s core business strategies and digital initiatives. The bank, with approximately $7.3 billion in assets as of September 30, 2021, continues to strengthen its leadership team.
Central Pacific Financial Corp. (NYSE: CPF) reported a net income of $20.8 million for Q3 2021, with fully diluted EPS of $0.74, significantly up from $6.9 million or $0.24 in Q3 2020. The growth was attributed to strong core loan and deposit increases and improved net interest margins at 3.31%. A quarterly cash dividend of $0.25 per share was declared, a 4.2% increase from the previous quarter. The company returned $30.2 million to shareholders in 2021 via dividends and share repurchases, maintaining a robust capital position while focusing on digital innovation.
Central Pacific Financial (NYSE CPF) announced executive leadership promotions, effective January 1, 2022. Arnold Martines will transition from Executive Vice President to President and COO, while David Morimoto becomes Senior Executive Vice President and CFO. Kevin Dahlstrom is appointed Chief Strategy Officer. Catherine Ngo will now serve as Executive Vice Chair. These changes aim to enhance operational efficiencies and build on the bank's success in implementing the RISE2020 initiative, a $40 million investment plan. Central Pacific Bank has assets totaling approximately $7.2 billion as of June 30, 2021.
Central Pacific Financial Corp. (NYSE: CPF) will announce its third quarter 2021 earnings on October 27, 2021, prior to the NYSE opening. A conference call and live audio webcast will follow at 1:00 p.m. Eastern Time to review the results. Interested parties can join the call by dialing 1-877-505-7644 or via the company's investor relations website. The replay will be available until November 27, 2021. As of June 30, 2021, the company reported approximately $7.2 billion in assets.
Central Pacific Financial Corp. (NYSE: CPF) reported a strong second quarter in 2021, achieving net income of $18.7 million or $0.66 EPS, a significant increase from $9.9 million or $0.35 EPS in Q2 2020. The company resumed share repurchases, buying 156,600 shares at an average cost of $27.63. Total assets reached $7.18 billion, with loans totaling $5.08 billion. The quarterly cash dividend was declared at $0.24 per share, payable on September 15, 2021. The credit for loan losses was $3.4 million, indicating improved asset quality as Hawaii's economy rebounds.
Central Pacific Financial Corp. (NYSE: CPF) will announce its second quarter 2021 earnings on July 28, 2021, before the NYSE opens. A conference call and live audio webcast will occur at 1:00 p.m. Eastern Time. Interested parties can join the call by calling 1-877-505-7644 or via the investor relations website. The earnings release is significant as the bank holding company, with approximately $7.0 billion in assets and 31 branches in Hawaii, continues to monitor its financial health amid evolving market conditions.
Central Pacific Financial Corp. (NYSE: CPF) reported a strong first quarter 2021, with net income of $18.0 million and EPS of $0.64, marking a significant increase from $8.3 million and EPS of $0.29 in Q1 2020. The board declared a cash dividend of $0.24 per share, up 4.3% from the previous quarter. Notably, net interest income was $49.8 million, down from $51.5 million in the prior quarter. Total assets rose to $6.98 billion, a 14.3% increase year-over-year, while the loan-to-deposit ratio stood at 82.8%.
Central Pacific Financial Corp. (NYSE: CPF) will announce its Q1 2021 earnings on April 28, 2021, prior to the NYSE opening. Management will host a conference call at 1:00 p.m. ET to discuss the results, available via webcast on the company’s investor relations website. Central Pacific Financial, based in Hawaii, holds approximately $6.6 billion in assets and operates 31 branches and 69 ATMs across the state as of December 31, 2020. A replay of the call will be accessible until May 28, 2021.
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