Financial Data and Key Metrics Changes - Net income for the third quarter was $13.1 million or $0.49 per diluted share, with a return on average assets of 0.70% and return on average equity of 10.95% [27] - Net interest income for the third quarter was $51.9 million, a decrease of $0.8 million from the prior quarter, primarily due to higher funding costs [27] - The net interest margin was 2.88% in the third quarter, a decline of 8 basis points sequentially [27] Business Line Data and Key Metrics Changes - The loan portfolio remained relatively flat during the quarter, with selective growth in certain portfolios [27] - Nonperforming assets were at 9 basis points of total assets, and criticized loans were at 1.09% of total loans [16] - The Mainland loan portfolio declined to 16% of total loans, with the consumer portfolio decreasing to $345 million or 6% of total loans [16] Market Data and Key Metrics Changes - In August, Hawaii saw 769,000 visitors, down 7% from a year ago, with total visitor spending at $1.58 billion, down 9% [6][7] - The statewide unemployment rate was 2.8% in September, outperforming the national rate of 3.8% [7] - Real estate values in Hawaii remained strong, with the Oahu median single-family home price at $1.1 million [7] Company Strategy and Development Direction - The company is focused on growing relationship-based deposits and managing loan growth cautiously [8] - There is a commitment to support the Maui community post-wildfires, with a focus on rebuilding and economic recovery [5] - The company is optimistic about future opportunities as the operating environment improves [27] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding net interest margin performance, projecting a trough in the first half of 2024 [19] - The company is monitoring the economic environment closely and remains selective in loan additions [28] - There are no anticipated material credit impacts from the Maui wildfires, with ongoing support for affected borrowers [28] Other Important Information - The effective tax rate was 24.9% in the third quarter, expected to remain in the 24% to 25% range going forward [9] - A quarterly cash dividend of $0.26 per share was declared, payable on December 15th [9] Q&A Session Summary Question: Margin guidance and expectations - Management is pleased with margin performance and has adjusted guidance to a range of 2.75% to 2.85% for the next couple of quarters, with hopes to stay above 2.80% [18][19] Question: Loan growth and production pipeline - New loan yields in the third quarter were 7.5%, compared to a portfolio yield of 4.5%, indicating significant upward repricing [20] Question: Balance sheet management in a higher interest rate environment - Management is cautiously optimistic about margin expansion, depending on the stabilization of deposit balances and growth in core deposits [36][40]

| --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------|-------|----------|-------|---------|-------|----------| | | | | | | | | | Nine Months Ended September 30, 2023 | | | | | | | | Net change in fair value of investment securities: | | | | | | | | Net unrealized losses on AFS investment securities arising during the period | $ | (17,675) | $ | (4,696) | $ | (12,979) | | Less: Reclassification adjustments from AOCI realized in net ...

Central Pacific Financial Corp (NYSE:CPF) Q2 2023 Earnings Conference Call July 26, 2023 1:00 PM ET Company Participants Dayna Matsumoto - Group Senior Vice President and Director of Finance and Accounting Arnold Martines - President and Chief Executive Officer David Morimoto - Senior Executive Vice President and Chief Financial Officer Anna Hu - Executive Vice President and Chief Credit Officer Conference Call Participants Andrew Liesch - Piper Sandler David Feaster - Raymond James Operator Good afternoon, ...

Table of Contents Table of Contents Date: July 26, 2023 /s/ Arnold D. Martines Arnold D. Martines President and Chief Executive Of icer (Principal Executive Officer) Table of Contents In March 2022, the Company transferred 41 investment securities that were classified as AFS to HTM. The investment securities had an amortized cost basis of $361.8 million and a fair market value of $329.5 million. On the date of transfer, these securities had a total net unrealized loss of $32.3 million. There was no impact t ...

Central Pacific Financial Corp (NYSE:CPF) Q1 2023 Earnings Conference Call April 26, 2023 1:00 PM ET Company Participants David Morimoto - Senior Executive VP & CFO Arnold Martines - President, CEO & Director Anna Hu - EVP & Chief Credit Officer Conference Call Participants David Feaster - Raymond James & Associates Andrew Liesch - Piper Sandler & Co. Operator Good afternoon, ladies and gentlemen. Thank you for standing by, and welcome to the Central Pacific Financial Corp. First Quarter 2023 Conference Cal ...

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 March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-31567 CENTRAL PACIFIC FINANCIAL CORP. (Exact name of registrant as specified in its charter) (State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number: 001-31567 Central Pacific Financial Corp. (Exact name of registrant as specified in its charter) Hawaii 99-0212597 (State or other jurisdiction of incorporation or organi ...

Forward-Looking Statements Central Pacific Financial Corp. 2 3.3% • Japanese visitors to Hawaii expected to increase with travel restrictions lifted and strengthening yen Continued housing strength and development Financial Highlights • Net interest income grew by $0.9 million from the prior quarter * Excludes $0.1 Mil, $0.7 Mil and $3.6 Mil in net PPP interest and fees in 4Q22, 3Q22 and 2022Y respectively. Also excludes $3.6 Mil, $12.4 Mil and $29.2 Mil in average PPP balances from interest earning assets ...

Central Pacific Financial Corp. (NYSE:CPF) Q4 2022 Earnings Conference Call January 25, 2023 1:00 PM ET Company Participants David Morimoto - Senior Executive Vice President and Chief Financial Officer Arnold Martines - President and Chief Executive Officer Anna Hu - Executive Vice President and Chief Credit Officer Conference Call Participants David Feaster - Raymond James Andrew Liesch - Piper Sandler Laurie Hunsicker - Compass Point Operator Good afternoon, ladies and gentlemen. Thank you for standing by ...

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 September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-31567 CENTRAL PACIFIC FINANCIAL CORP. (Exact name of registrant as specified in its charter) Hawaii 99-0212597 (State or oth ...