First Hawaiian Bank has announced that they have reached $10 billion in loans for the first time in their company's history, and attribute this to a growing level of consumer confidence and a resurgence in the construction industry. Bob Harrison, the chairman, president and CEO of First Hawaiian, stated, "We're seeing good growth in the lending portfolio, which leads to growth in net interest income. We also saw good expense control, as we have had throughout the year, and we had gains from securities sales (in the bank's investment portfolio)."
Deposits have also grown over the last 12 months to $14.7 billion from $13.6 billion. Harrison commented, "Deposits are really a reflection of the bank's relationship strategy as we continue to grow and the economy continues to improve here. That's how deposits grow. It's been unusually high, even we're a little surprised at how high the deposit growth has been going. We're seeing that on the consumer side in terms of borrowing and deposit growth. It also has been strong in the construction portfolio. Clearly, we're seeing growth in our construction loans and, secondly, with those people in the construction industry that are working, you're seeing growth and confidence in their own personal lives. Those are generally well-paying jobs."
Source: Honolulu Star Advertiser, 1-23-2015, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC