Financial Performance - Net income for the year ended December 31, 2024, was $230,129 thousand, down from $234,983 thousand in 2023, a decrease of 2.0%[23] - Net income for Q4 2024 was $52,496,000, down from $61,492,000 in Q3 2024, representing a decrease of 16.3%[25] - Basic earnings per share for Q4 2024 was $0.41, compared to $0.48 in Q4 2023, reflecting a decline of 14.6%[23] - Return on average total assets for Q4 2024 was 0.88%, down from 1.02% in Q3 2024, indicating a decline in asset efficiency[42] Assets and Liabilities - Total assets reached $23.8 billion as of December 31, 2024, unchanged from September 30, 2024[5] - Total assets as of December 31, 2024, were $23,828,186 thousand, slightly down from $24,926,474 thousand as of December 31, 2023, a decrease of 4.4%[24] - Total liabilities as of December 31, 2024, were $21,210,700,000, a slight increase from $21,132,251,000 as of September 30, 2024[26] - Stockholders' equity decreased to $2,617,486,000 as of December 31, 2024, from $2,648,034,000 as of September 30, 2024[26] Loans and Deposits - Gross loans and leases increased by $166.9 million, or 1.2%, to $14.4 billion compared to the prior quarter[5] - Total deposits rose by $94.5 million, or 0.5%, to $20.3 billion from the previous quarter[5] - Total loans and leases amounted to $14,408,258 thousand as of December 31, 2024, showing an increase from $14,241,370 thousand as of September 30, 2024[35] - Total deposits reached $20,322,216 thousand as of December 31, 2024, compared to $20,227,702 thousand as of September 30, 2024[36] Income and Expenses - Net interest income for Q4 2024 was $158.8 million, up $2.0 million, or 1.3%, from $156.7 million in Q3 2024[6] - Noninterest income decreased by $23.9 million to $29.4 million in Q4 2024, primarily due to a $26.2 million loss on the sale of investment securities[10] - Noninterest expense was $124.1 million in Q4 2024, a decrease of $2.0 million from the prior quarter[11] - Total interest income for Q4 2024 was $240,162,000, a decrease of 3.3% from $249,996,000 in Q3 2024[25] Credit Quality - A negative provision for credit losses of $0.8 million was recorded in Q4 2024, compared to a $7.4 million provision in Q3 2024[7] - The allowance for credit losses was $160,393,000 as of December 31, 2024, down from $163,700,000 as of September 30, 2024[26] - Non-performing assets totaled $20,679 thousand as of December 31, 2024, an increase from $17,834 thousand as of September 30, 2024[37] - The ratio of net loans and leases charged-off to average loans and leases outstanding was 0.09% for the three months ended December 31, 2024, down from 0.11% in the previous quarter[38] Capital and Dividends - The Board of Directors declared a quarterly cash dividend of $0.26 per share, payable on February 28, 2025[2] - The Common Equity Tier 1 Capital Ratio was 12.80% as of December 31, 2024, down from 12.39% as of December 31, 2023[24] - The average tangible stockholders' equity for Q4 2024 was $1,634,108 thousand, up from $1,593,314 thousand in Q3 2024, reflecting an increase of approximately 2.6%[42] Operational Efficiency - The efficiency ratio for Q4 2024 was 65.51%, an increase from 59.48% in Q4 2023, indicating a decline in operational efficiency[23] - Average total assets decreased to $23,795,735 thousand in Q4 2024 from $24,046,696 thousand in Q3 2024, a reduction of approximately 1.0%[42]

Core Insights - First Hawaiian, Inc. reported strong financial results for Q4 2024, with growth in loan and deposit balances, an expanded net interest margin, controlled expenses, and excellent credit quality [2][12]. Financial Performance - Total assets reached $23.8 billion as of December 31, 2024, unchanged from the previous quarter [5]. - Gross loans and leases increased by $166.9 million, or 1.2%, to $14.4 billion [5]. - Total deposits rose by $94.5 million, or 0.5%, to $20.3 billion [5]. - Net interest income for Q4 2024 was $158.8 million, up $2.0 million, or 1.3%, from the prior quarter [6]. - The net interest margin improved to 3.03%, an increase of 8 basis points from 2.95% in the previous quarter [6]. Credit Quality - The company recorded a negative provision for credit losses of $0.8 million in Q4 2024, compared to a provision of $7.4 million in the prior quarter [7][12]. - The allowance for credit losses was $160.4 million, or 1.11% of total loans and leases, down from 1.15% in the previous quarter [11]. Noninterest Income and Expenses - Noninterest income decreased to $29.4 million in Q4 2024, down $23.9 million from $53.3 million in the prior quarter, primarily due to a $26.2 million loss on the sale of investment securities [8][12]. - Noninterest expense was $124.1 million, a decrease of $2.0 million from $126.1 million in the prior quarter [9]. Capital Management - The Board of Directors declared a quarterly cash dividend of $0.26 per share, payable on February 28, 2025 [2]. - A stock repurchase program was adopted for up to $100 million of outstanding common stock during 2025 [3][16]. - The company repurchased 1.5 million shares at a total cost of $40 million in Q4 2024, with an average cost of $27.14 per share [15]. Efficiency and Ratios - The efficiency ratio for Q4 2024 was 65.5%, compared to 59.8% in the prior quarter [9]. - The effective tax rate was 18.9%, down from 19.6% in the previous quarter [10]. - Return on average total assets was 0.88%, while return on average tangible stockholders' equity was 12.78% [24].

Company Overview - First Hawaiian (FHB) is expected to report a year-over-year increase in earnings of +8.1%, with earnings projected at $0.40 per share, despite a revenue decline of 11.4% to $186.28 million for the quarter ended December 2024 [3][12]. Earnings Expectations - The earnings report is scheduled for January 31, 2025, and could influence stock movement based on whether the results exceed or fall short of expectations [2][12]. - The consensus EPS estimate has been revised 1.64% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Most Accurate Estimate for First Hawaiian is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -27.50%, suggesting a bearish outlook from analysts [10][11]. - Despite the negative Earnings ESP, First Hawaiian holds a Zacks Rank of 1 (Strong Buy), complicating predictions regarding an earnings beat [11]. Historical Performance - In the last reported quarter, First Hawaiian exceeded the consensus EPS estimate by +9.09%, with actual earnings of $0.48 per share compared to an expected $0.44 [12]. - Over the past four quarters, the company has beaten consensus EPS estimates two times [13]. Industry Context - In the Zacks Banks - West industry, Preferred Bank (PFBC) is expected to report earnings of $2.42 per share, reflecting a year-over-year decline of -6.9%, with revenues projected at $70 million, down 2.1% [17]. - The consensus EPS estimate for Preferred Bank has been revised 3.4% higher, but a lower Most Accurate Estimate results in an Earnings ESP of -0.62%, indicating uncertainty about beating the consensus [18].

HONOLULU, Jan. 10, 2025 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ: FHB) announced today that it plans to release its fourth quarter 2024 financial results on Friday, January 31, 2025 before the market opens. First Hawaiian will host a conference call to discuss the company’s results on the same day at 1:00 p.m. Eastern Time (8:00 a.m. Hawaii Time). To access the call by phone, participants will need to click on the following registration link: https://register.vevent.com/register/BI80003c73e95b445aa5 ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, January 9:Gain Therapeutics, Inc. (GANX) : This biotechnology company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.8% over the last 60 days.Gain Therapeutics' shares gained 23.9% over the last three months compared with the S&P 500’s advanced of 2.2%. The company possesses a Momentum Score of B.First Hawaiian, Inc. (FHB) : This bank holding com ...

Group 1 - TDK Corporation (TTDKY) has seen a significant increase in the Zacks Consensus Estimate for its current year earnings, rising by 77.8% over the last 60 days [1] - First Hawaiian, Inc. (FHB) has experienced a 3.4% increase in the Zacks Consensus Estimate for its current year earnings in the last 60 days [2] - Fresenius Medical Care AG (FMS), a dialysis service provider, has had a 1.3% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4] Group 2 - A Zacks Rank 1 company has a dividend yield of 2.0%, significantly higher than the industry average of 0.0% [6] - Another Zacks Rank 1 company has a dividend yield of 1.1%, also above the industry average of 0.0% [7] - A different Zacks Rank 1 company boasts a dividend yield of 4.0%, compared to the industry average of 2.7% [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 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 001-14585 FIRST HAWAIIAN, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 99-0156159 (State or Other ...

Financial Data and Key Metrics Changes - The overall Hawaii economy remains resilient, with a September unemployment rate of 2.9%, compared to the national rate of 4.1% [3] - Total loans decreased by $119 million compared to the prior quarter, with unexpected loan payoffs impacting growth [6] - Net interest income was $156.7 million, an increase of $3.9 million from the prior quarter, with a margin increase of 3 basis points [7][8] - Non-interest income rose to $53.3 million, about $1.5 million more than the prior quarter, driven by higher credit and debit card fees [8] Business Line Data and Key Metrics Changes - Total deposits decreased by $91 million, primarily due to a $112 million decline in public deposits, while commercial deposits increased by $112 million [6] - The bank's credit risk metrics remain strong, with no broad signs of weakness observed in consumer or commercial books [9] - Classified assets increased by $64.6 million, mainly due to downgrades, but the loans are well-collateralized [10] Market Data and Key Metrics Changes - Visitor arrivals in Hawaii were down 2.2% and spending down 2.3% compared to 2023 levels [3] - The median sales price for a single-family home on Oahu was $1.1 million, a 6% increase from last year, while condo prices decreased by 2.8% [3] Company Strategy and Development Direction - The company plans to focus on growth opportunities in commercial real estate and dealer floor plans, particularly in Hawaii and the West Coast [13] - The bank intends to resume share repurchases in the fourth quarter due to strong capital levels [5] Management's Comments on Operating Environment and Future Outlook - Management noted that the pipeline for loans remains strong, despite flat loan growth expected for the full year due to unexpected payoffs [6][13] - The company is proactively managing deposit rates in anticipation of Fed rate cuts, with expectations of a modest decline in net interest margin in the fourth quarter [7][15] Other Important Information - The bank's capital levels continue to grow due to strong earnings and favorable changes in accumulated other comprehensive income (AOCI) [5] - The company expects full-year expenses to be in the $500 million range, with a focus on maintaining discipline in expense management [8][26] Q&A Session Summary Question: Follow-up on growth outlook and competitive landscape - Management indicated that opportunities for growth are primarily in commercial real estate and dealer floor plans, with some new relationships being onboarded [13] Question: Provision for consumer and home equity books - Management clarified that the reserve build was not concerning and was based on modeling adjustments rather than specific portfolio weaknesses [22][24] Question: Impact of payoffs on loan growth - Management estimated that unexpected payoffs weighed approximately $90 million to $95 million on loan growth in the third quarter [39] Question: Expectations for non-interest-bearing deposits - Management expressed hope that the percentage of non-interest-bearing deposits would stabilize around 34% [40] Question: Dynamics of loan growth and payoff cadence - Management noted that cash flow forecasts for fixed-rate loans are independent of unexpected payoffs, but elevated payoffs could pose risks [42]

For the quarter ended September 2024, First Hawaiian (FHB) reported revenue of $210 million, up 3.3% over the same period last year. EPS came in at $0.48, compared to $0.46 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $204.83 million, representing a surprise of +2.52%. The company delivered an EPS surprise of +9.09%, with the consensus EPS estimate being $0.44. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

First Hawaiian (FHB) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.09%. A quarter ago, it was expected that this bank holding company would post earnings of $0.42 per share when it actually produced earnings of $0.48, delivering a surprise of 14.29%.Over the last four quarters, th ...