Central Pacific Financial Corp New · NYSE:CPF

Central Pacific Financial Corp New — Central Pacific Financial — Q1 2022 Earnings Presentation

14 slides from Central Pacific Financial Corp New's earnings presentation, Apr 20, 2022

  1. Slide 1: 1st Quarter 2022 Earnings Supplement

    1st Quarter 2022 Earnings Supplement April 20, 2022

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This document may contain forward-looking statements concerning: projections of revenues, expenses, income or loss, earnings or loss per share, capital expenditures, the payment or nonpayment of dividends, capital position, credit losses, net interest margin or other finan

  3. Slide 3: Hawaii Economy Trending Favorably

    Hawaii Economy Trending Favorably RECENT REBOUND IN VISITORS TO OVER 100% OF PRE-PANDEMIC LEVELS STRENGTHS AND RECOVERY FACTORS DAILY PASSENGER COUNTS TO HAWAII* • Hawaii Safe Travels and Safe Access programs which required proof of vaccination or a negative COVID test to avoid quarantine and enter

  4. Slide 4: 1st Quarter 2022 Financial Highlights

    1st Quarter 2022 1Q 2022 4Q 2021 Financial Highlights NET INCOME / $19.4 Million / $22.3 Million / DILUTED EPS $0.70 $0.80 PRE-TAX, PRE- • Stable pre-tax, pre-provision income in the PROVISION INCOME $22.3 Million $22.2 Million 1Q compared to the 4Q (PTPP) CORE LOAN • Strong core loan growth, and mo

  5. Slide 5: Consistent Loan Growth

    Consistent Loan Growth 1Q 2022 Core Loan Growth by Type Loan Balances Outstanding-Excluding PPP Quarterly Loan Growth in $ Millions 5,500 $5.1B 5,000 Consumer, $45.1 +7% Home Equity, $39.1 +6% 4,500 $ Millions Coml Mtge, $23.3 +2% 4,000 C&I, $14.3 +3% 3,500 Construction, $0.4 Resi Mtge, $(2.0) 3,000

  6. Slide 6: Net Interest Margin & Rate Sensitivity

    Net Interest Margin & Rate Sensitivity 4.00% • NIM impacted by low interest rate 3.75% environment and excess liquidity 3.50% • Cost of total deposits currently just 0.06% 3.25% • Balance sheet is slightly asset sensitive 3.00% 2.97% 2.85% (+100 bps shock estimated to increase 2.75% NII by 5%) and d

  7. Slide 7: Strong Asset Quality

    Strong Asset Quality Loans 90+ Days Past Due / Total Loans Nonperforming Loans / Total Loans 1.00% 1.00% 0.80% 0.80% 0.60% 0.60% 0.40% 0.40% 0.20% 0.20% 0.10% 0.03% 0.00% 0.00% 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Classified Assets + OREO/ Tier 1

  8. Slide 8: Allowance for Credit Losses on Loans

    Allowance for Credit Losses on Loans • $2.9 million Provision release in 1Q22 driven by continued improvements in the loan portfolio and economic forecast • ACL coverage ratio (excluding PPP) at 1.26% for 1Q22 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Beginning Balance 80.5 83.3 81.6 77.8 74.6 68.1 Less: Net ch

  9. Slide 9: Solid Capital Position

    Solid Capital Position Capital Ratios TOTAL RISK BASED 16.0% CAPITAL STRONG CAPITAL 14.2% 14.0% • Maintained quarterly cash dividend at $0.26 per share which 2.3% will be payable on June 15, 2022 12.0% 1.0% • $220 million capital cushion to the well-capitalized Total 10.0% TIER 1 LEVERAGE* TANGIBLE

  10. Slide 10: Mahalo

    Mahalo

  11. Slide 11: Appendix

    Appendix Central Pacific Financial Corp. 11

  12. Slide 12: Environmental, Social & Governance (ESG)

    Environmental, Social & Governance (ESG) 2021 ESG report can be viewed here: https://www.cpb.bank/esg Central Pacific Financial Corp. 12

  13. Slide 13: SBA Paycheck Protection Program (PPP)

    SBA Paycheck Protection Program (PPP) IN $ MILLIONS (except for loan ROUND 1 & 2 ROUND 3 count) (2020) (2021) As of 3/31/22 $558.9 $320.9 FUNDED $/COUNT ~7,200 LOANS ~4,600 LOANS FORGIVENESS/ $556.0 $277.8 PAYDOWNS TO DATE EARNED NET FEES $19.1 $15.7 TO DATE UNEARNED NET $0 $1.7 FEES 3/31/22 NET BAL

  14. Slide 14: Non-GAAP Financial Measures

    Non-GAAP Financial Measures The Company believes the following non-GAAP financial measures provides useful information about our operating results and enhances the overall understanding of our past performance and future performance. Investors should consider our performance and financial condition

Central Pacific Financial — Q1 2022 Earnings Presentation on 6ix