CENTRAL PACIFIC FINANCIAL 3rd Quarter 2024 Earnings Supplement October 30, 2024 Forward-Looking Statements This document may contain forward-looking statements ("FLS") concerning: projections of revenues, expenses, income or loss, earnings or loss per share, capital expenditures, the payment or nonpayment of dividends, capital position, credit losses, net interest margin or other financial items; statements of plans, objectives and expectations of Central Pacific Financial Corp. (the "Company") or its manag ...

For the quarter ended September 2024, Central Pacific Financial (CPF) reported revenue of $66.59 million, up 7.4% over the same period last year. EPS came in at $0.58, compared to $0.49 in the year-ago quarter. The reported revenue represents a surprise of +2.09% over the Zacks Consensus Estimate of $65.22 million. With the consensus EPS estimate being $0.56, the EPS surprise was +3.57%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Central Pacific Financial (CPF) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.57%. A quarter ago, it was expected that this operator of Central Pacific Bank would post earnings of $0.48 per share when it actually produced earnings of $0.58, delivering a surprise of 20.83%. Over t ...

Exhibit 99.1 FOR IMMEDIATE RELEASE | --- | --- | |----------|-----------------------| | | | | Investor | Contact: Ian Tanaka | | | SVP, Treasury Manager | | | (808) 544-3646 | | | ian.tanaka@cpb.bank | | | | | | NEWS RELEASE | Media Contact: Tim Sakahara AVP, Corporate Communications Manager (808) 544-5125 tim.sakahara@cpb.bank CENTRAL PACIFIC FINANCIAL REPORTS THIRD QUARTER 2024 EARNINGS Highlights include: • Net income of $13.3 million, or $0.49 per diluted share. Excluding $3.1 million in pre-tax expense ...

Central Pacific Financial (CPF) shares rallied 6.2% in the last trading session to close at $29.51. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1% gain over the past four weeks. Shares of CPF touched a new 52-week high of $29.55 on Monday. The recent 50 basis points interest rate cut by the Federal Reserve led to an optimistic investor sentiment towards banks. As rates go down, loan demand is expected to ...

Financial Data and Key Metrics Changes - Net income for Q2 2024 was $15.8 million, or $0.58 per diluted share, with a return on average assets of 0.86% and return on average equity of 12.42% [8][9] - The efficiency ratio was reported at 64.26% [9] - Net interest income increased to $51.9 million, up $1.7 million from the prior quarter, with a net interest margin of 2.97%, reflecting a 14 basis point increase sequentially [10][9] Business Line Data and Key Metrics Changes - Total loan portfolio decreased by $17.8 million or 0.3% sequentially, with a notable $19.2 million decrease in Mainland consumer loans [9] - Core deposits grew by $16.7 million during the quarter, while total deposit portfolio decreased by $36.4 million or 0.5% sequentially [9][10] - Non-performing assets were $10.3 million or 0.14% of total assets, remaining flat from the prior quarter [12] Market Data and Key Metrics Changes - Hawaii's overall economic growth is modest, with total statewide visitor arrivals down 1.9% from the prior year, but at 92% of pre-pandemic levels [6][7] - The median single-family home price in Oahu was $1.12 million, reflecting a year-over-year increase of 6.7% [8] - The statewide seasonally adjusted unemployment rate was 2.9%, outperforming the national rate of 4.1% [7] Company Strategy and Development Direction - The company is focused on navigating current economic challenges while maintaining a positive outlook for the rest of the year [5] - There is an emphasis on core deposit growth and optimizing the funding base, particularly in the small business market [16][20] - The company aims to continue executing core strategies while remaining adaptable to market conditions [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about Hawaii's economic outlook, despite challenges in tourism and inflation [6][8] - The company anticipates modest loan growth in the second half of the year, driven by stabilization in the loan portfolio [9][10] - Management highlighted the importance of defense spending in Hawaii as a positive economic driver [38][40] Other Important Information - The effective tax rate was 23.4%, expected to remain in the 23% to 25% range [11] - A quarterly cash dividend of $0.26 per share was declared, payable on September 16 [11] Q&A Session Summary Question: Update on Maui's local economy post-wildfires - Management noted that visitor arrivals are improving, with ongoing rebuilding efforts in the community [14][15] Question: Insights on deposit growth initiatives - Management highlighted success in the small business market and the importance of core deposit growth [16][20] Question: Drivers behind loan growth in C&I on the Mainland - Growth was primarily seen in the SNC portfolio, with opportunities in new and existing credits [23] Question: Outlook for commercial real estate in Hawaii - A good pipeline for commercial real estate transactions was noted, with expectations for continued activity [25] Question: Expectations for net interest margin - Guidance for net interest margin is set at 3% to 3.10%, incorporating anticipated rate cuts [29][30] Question: Credit quality and consumer loan outlook - Management is monitoring the consumer book closely, with a positive outlook for future opportunities [34] Question: Impact of defense spending on growth - Defense spending is expected to benefit both loan and deposit opportunities, positively impacting the local economy [38][40]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |----------------------------------------------------------------|--------------------------------------------------------------------------------------- ...

CENTRAL FINANCIAL 2 nd Quarter 2024 Earnings Supplement July 31, 2024 Forward-Looking Statements This document may contain forward-looking statements ("FLS") concerning: projections of revenues, expenses, income or loss, earnings or loss per share, capital expenditures, the payment or nonpayment of dividends, capital position, credit losses, net interest margin or other financial items; statements of plans, objectives and expectations of Central Pacific Financial Corp. (the "Company") or its management or B ...

This quarterly report represents an earnings surprise of 20.83%. A quarter ago, it was expected that this operator of Central Pacific Bank would post earnings of $0.45 per share when it actually produced earnings of $0.48, delivering a surprise of 6.67%. Central Pacific Financial, which belongs to the Zacks Banks - West industry, posted revenues of $64.04 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.73%. This compares to year-ago revenues of $63.17 million. The compa ...

Highlights include: • Net income of $15.8 million, or $0.58 per diluted share, an increase of 22.2% compared to the $12.9 million earned in the previous quarter • Net interest margin of 2.97% increased by 14 bps from 2.83% in the previous quarter • Total loans of $5.38 billion decreased by $17.8 million from the previous quarter • Core deposits of $5.91 billion increased by $16.7 million from the previous quarter. Total deposits of $6.58 billion decreased by $36.4 million from the previous quarter, which in ...