Central Pacific Financial (US:CPF)2024-10-30 17:24Financial Performance - Net income was $133 million, but adjusted net income, excluding $31 million in strategic opportunity expenses, reached $157 million[3] - Pre-provision net revenue (PPNR) was $199 million, increasing to $230 million on a non-GAAP basis[3] - Net interest margin (NIM) expanded by 10 basis points sequentially[3] - Core deposits grew by $539 million from the prior quarter[3] Financial Ratios and Capital - Tangible common equity (TCE) ratio improved to 731%[3] - Return on assets (ROA) was 072%, and adjusted ROA was 085%[3] - Return on equity (ROE) was 1002%, with an adjusted ROE of 1175%[3] - The company maintained a quarterly cash dividend of $026 per share[3] Loan and Deposit Portfolio - The loan portfolio is diversified, with nearly 80% secured by real estate[8] - The overall portfolio yield improved by 9 basis points to 489% in 3Q24[8] - 58% of deposits are FDIC insured, increasing to 63% when including collateralized deposits[11] Asset Quality - The allowance for credit losses (ACL) coverage ratio was 115% for 3Q24[21] - Delinquencies (90+ days) on total loans were 005%[17]