Q1 2025 First Hawaiian Inc Earnings Call Transcript
Key Points
- Net interest income increased versus the prior quarter, driven by declining deposit costs and investment portfolio restructuring.
- Retail deposits increased by $105 million, indicating strong customer relationships and growth.
- Credit quality remained excellent with low credit risk and stable metrics.
- The bank maintained a strong balance sheet with ample liquidity and capital, supporting customer needs.
- First Hawaiian Inc (FHB) repurchased approximately 974,000 shares, reflecting confidence in the company's financial position.
- Total loans declined by $115 million, primarily due to commercial real estate loan payoffs.
- Total deposits declined slightly, with commercial deposits falling by $167 million.
- Increased macroeconomic uncertainty led to a $10.5 million provision for credit losses.
- The company faces uncertainties related to international arrivals and consumer confidence, impacting the local economy.
- The competitive landscape for deposits remains challenging, with limited room to further reduce deposit costs.
Thank you for standing by, and welcome to the First Hawaiian Bank First Quarter 2025 Earnings Conference Call. (Operator Instructions) As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Jamie Moses, CFO. Please go ahead, sir.
Thank you, Jonathan, and thank you, everyone, for joining us as we review our financial results for the first quarter of 2025. With me today are Bob Harrison, Chairman, President and CEO; and Lea Nakamura, our Chief Risk Officer.
We have prepared a slide presentation that we will refer to in our remarks today. The presentation is available for downloading and viewing on our website at fhb.com in the Investor Relations section. During today's call, we will be making forward-looking statements, so please refer to slide 1 for our safe harbor statement. We may also discuss certain non-GAAP financial measures. The appendix to this presentation contains reconciliations of these non-GAAP financial
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