First Hawaiian, Inc. reported a net income of $67.8 million for the first quarter of 2026, reflecting a 14% increase from $59.2 million in the same period of 2025. This growth translated to basic and diluted earnings per share of $0.55, up from $0.47 a year earlier. The increase in net income was primarily driven by a $7.0 million rise in net interest income, a $5.5 million reduction in the provision for credit losses, and a $2.3 million increase in noninterest income. However, these gains were partially offset by a $4.3 million increase in noninterest expenses and a $2.0 million rise in the provision for income taxes.

In terms of financial performance, total interest income decreased to $229.7 million from $235.2 million year-over-year, while interest expense fell to $62.2 million from $74.6 million. The net interest income after accounting for credit losses was $162.5 million, compared to $150.0 million in the previous year. The provision for credit losses was $5.0 million, significantly lower than the $10.5 million recorded in the first quarter of 2025. The company’s net interest margin improved to 3.19%, up from 3.08% in the prior year.

Operationally, First Hawaiian, Inc. saw total loans and leases increase to $14.4 billion as of March 31, 2026, a rise of $128.3 million or 1% from the end of 2025. This growth was attributed to increases in commercial real estate and industrial loans, as well as consumer loans, although there were declines in construction and residential real estate loans. The allowance for credit losses stood at $169.3 million, representing 1.17% of total loans and leases, slightly down from 1.18% at the end of 2025.

The company also maintained a strong capital position, with a Common Equity Tier 1 (CET1) capital ratio of 13.12% as of March 31, 2026, a slight decrease from 13.17% at the end of the previous year. Total deposits increased to $20.8 billion, up $261.7 million from December 31, 2025, primarily due to growth in savings deposits. First Hawaiian, Inc. continues to focus on maintaining high liquidity levels and adequate reserves for credit losses, positioning itself well for future economic challenges. The company has announced a stock repurchase program of up to $250 million for 2026, with $32 million already utilized in the first quarter.

About FIRST HAWAIIAN, INC.

First Hawaiian, Inc. is a bank holding company based in Honolulu, Hawaii, owning First Hawaiian Bank, the state's largest full-service bank. It provides consumer and commercial banking, lending, wealth management, trust services, and merchant processing across Hawaii, Guam, and Saipan. The company focuses on building long-term customer relationships through diversified financial products, high-quality service, and a strong community presence.

This description was generated via AI from an annual report. Updated 8 months ago.

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