- First Hawaiian, Inc. (FHB, Financial) reported Q1 2025 net income of $59.2 million, reflecting a 12.9% increase from the previous quarter.
- Net interest margin improved to 3.08%, with net interest income rising 1.1% to $160.5 million.
- The company declared a quarterly cash dividend of $0.26 per share, payable on May 30, 2025.
First Hawaiian, Inc. (FHB) announced its financial results for the first quarter of 2025, showcasing a significant performance amid mixed economic signals. Net income for the quarter rose to $59.2 million, or $0.47 per diluted share, marking a 12.9% increase from $52.5 million in Q4 2024. The bank also reported a 9.3% year-over-year growth in net income.
Net interest income was up by 1.1%, reaching $160.5 million, which contributed to an improved net interest margin of 3.08%, up by 5 basis points compared to the previous quarter. Despite this growth, the bank saw a decline in total loans and leases, which fell by $115.2 million to $14.3 billion, and deposits, which decreased by $106.4 million to $20.2 billion.
First Hawaiian's credit quality remained strong, with non-performing assets constituting 0.14% of total loans. However, the bank recorded a $10.5 million provision for credit losses, a significant increase from a $0.8 million provision in the previous quarter, indicating a cautious approach in light of economic uncertainties. The allowance for credit losses increased to 1.17% of total loans and leases from 1.11% in the prior quarter.
On April 22, 2025, First Hawaiian's Board of Directors declared a quarterly cash dividend of $0.26 per share, scheduled for payment on May 30, 2025, to shareholders of record as of May 19, 2025. Additionally, the company repurchased 974 thousand shares at an average cost of $25.66 per share, totaling $25.0 million under its stock repurchase program.
