First Hawaiian Bank, the state’s largest bank, has announced that they have seen an increase in the number of individuals and businesses who are applying for and obtaining loans. This is attributed to low interest rates and an improving economy. President and CEO for First Hawaiian Bank, Bob Harrison, stated, “For a couple of years now, we’ve been waiting for a recovery, and now it seems to be finally getting going. Customers are getting the confidence it takes to buy a new car. And in construction you see the confidence it takes for people to invest in a new building or a new project. So having all that happen now is very positive. Some of the (planned) construction projects have started, and our branches are seeing new loan activity. We’re helping consumers finance the purchase of new cars. The only negative pulling us back is the low interest rate environment from the earnings perspective. But we’re still over $50 million in net income, and that makes us one of the most profitable, if not the most profitable, companies (in the state).”
During the first quarter of 2013, First Hawaiian Bank had loaned out $9.1 billion. This was a significant increase from the $8.4 billion loaned during the first quarter of the prior year.
Source: Honolulu Star Advertiser, 4-22-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
