Central Pacific Financial ( (CPF) ) has provided an update.
Central Pacific Financial Corp. reported third-quarter 2024 earnings with a net income of $13.3 million, or $0.49 per diluted share. Despite a $3.1 million expense from a strategic opportunity, adjusted earnings reached $15.7 million. The company saw a rise in net interest margin to 3.07% and a boost in core deposits by $53.9 million. However, total loans decreased by $41 million. The firm continues to focus on growth strategies while supporting community initiatives, such as opening a new branch in Kahului.
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