First Hawaiian Bank has reported net income of $53.1 million for the fourth quarter 2012, a 3.1 percent gain over the comparable period of 2011. For the year, the bank's loan and lease portfolio reached a record $9 billion, while First Hawaiian's net income was $216.9 million, an increase of 3.8 percent over 2011. First Hawaiian Bank president and CEO Bob Harrison made the announcement.
"We had a solid fourth quarter and finished the year with strong loan and deposit growth," said Harrison. "Despite a competitive marketplace, we were able to grow our loan volume throughout 2012, making more than $3.6 billion in total loans. With tourism clearly re-bounding and construction projects beginning in the market, we are optimistic that we will continue to see steady economic growth in 2013."
For the 12 months ending Dec. 31, 2012, First Hawaiian Bank achieved the following over the prior year: total assets reached $16.6 billion, up 5.1 percent; total deposits were $12.9 billion, an increase of 6.0 percent, total loans and leases were $9.0 billion up 7.5 percent, non-performing assets to total assets remained one of the lowest in the banking industry at 0.25 percent and the efficiency ratio was 44.31 percent, making First Hawaiian the most productive bank in Hawai'i and one of the most efficient in the nation.