First Hawaiian Q1 net income $54.2 million, $0.42 a share, up from prior quarter
First Hawaiian reported first-quarter 2024 net income of $54.2 million, or $0.42 per diluted share, up from $47.5 million, or $0.37 per share, in the fourth quarter of 2023 but down from $66.8 million, or $0.52 per share, a year earlier. The company also declared a quarterly dividend of $0.26 per share, payable May 31, 2024, and reported total deposits down $663.2 million from the prior quarter.
- Net income $54.2 million, $0.42 per diluted share, versus $0.37 in Q4 2023 and $0.52 in Q1 2023
- Net interest margin rose 10 basis points to 2.91%; net interest income $154.4 million, up 1.7% from prior quarter
- Total deposits fell $663.2 million to $20.7 billion; noninterest expense $128.8 million, down $13.5 million
- Board declared $0.26 per share dividend on April 24, 2024; payable May 31 to holders of record May 20; no shares repurchased in Q1