Central Pacific Financial Corp New · NYSE:CPF
Central Pacific Financial Corp New — Central Pacific Financial — Q3 2021 Earnings Presentation
15 slides from Central Pacific Financial Corp New's earnings presentation, Oct 27, 2021
Slide 1: 3rd Quarter 2021 Earnings Supplement
3rd Quarter 2021 Earnings Supplement October 27, 2021
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
Slide 3: 3rd Quarter 2021 Highlights
3rd Quarter 2021 Highlights 3Q 2021 2Q 2021 • Quarterly net income increased by $2.1 NET INCOME / $20.8 Million / $18.7 Million / DILUTED EPS $0.74 $0.66 million from the prior quarter +$184 Million +$103 Million CORE LOAN (+4.0%) (+2.3%) • Strong core loan and deposit growth GROWTH (excluding PPP)
Slide 4: Consistent Loan Growth
Consistent Loan Growth Loan Balances Outstanding-Excluding PPP 3Q 2021 Loan Growth (excluding PPP) by Type 5,500 Consumer, $62 +11% 5,000 $4.8B Resi Mtge, $37 +2% 4,500 Home Equity, $36 +6% $ Millions C&I, $33 +7% 4,000 Coml Mtge, $22 +2% Construction 3,500 , $(5) $(10) $- $10 $20 $30 $40 $50 $60 $7
Slide 5: Strong Asset Quality
Strong Asset Quality CLASSIFIED ASSETS ALLOWANCE FOR CREDIT LOSSES (ACL)* 15.00% $100 1.90% $100 13.00% $80 1.70% $80 11.00% 1.50% $60 $60 9.00% 1.30% $40 $40 7.00% 1.10% $20 5.00% $20 0.90% $0 3.00% $0 3Q20 4Q20 1Q21 2Q21 3Q21 3Q20 4Q20 1Q21 2Q21 3Q21 ACL in $ Millions (right) ACL/Total Loans, excl
Slide 6: Innovation & Digital Banking Accomplishments
Innovation & Digital Banking Accomplishments New ‘Shaka’ Digital Online Chat Checking Account Online Account Opening Online chat to enhance CX Public Launch available since April 2021 November 2021 Consumer platform to open deposit accounts and term Online/Mobile Banking loans launched January 2021
Slide 7: Shaka Digital Checking
Shaka Digital Checking • Hawaii’s first fully digital bank account launches early November 2021 • Exciting social media buzz with over 2,000 on the waitlist • Market differentiating features: 2 day early Use of any bank Attractive Open online in direct deposit ATMs with fee interest rate 5 minutes p
Slide 8: Resilient Hawaii Market
DAILY PASSENGER COUNTS TO HAWAII* Resilient Hawaii Market STRENGTHS AND RECOVERY FACTORS • Notwithstanding the recent uptick in case counts, Hawaii still has the 2nd lowest per capita COVID-19 case rate in the nation1 • Approximately 70.7% of Hawaii residents are fully vaccinated2 • Visitor arrivals
Slide 9: Solid Capital Position
Solid Capital Position Capital Ratios TOTAL RISK BASED 16.0% CAPITAL 14.6% STRONG CAPITAL 14.0% 2.4% • Increased quarterly cash dividend by $0.01 to $0.25 per share 12.0% which will be payable on December 15, 2021 1.0% 10.0% TIER 1 • $230 million capital cushion to the well-capitalized Total LEVERAG
Slide 10: Total Loan Portfolio
Total Loan Portfolio TOTAL LOAN PORTFOLIO OF $5,046MM OUTSTANDING BALANCE AS OF 9/30/2021 $ IN MILLIONS LOAN PORTFOLIO HIGHLIGHTS Consumer Commercial & Industrial $603 / 12% $519 / 10% • Conservative and Diversified Loan Portfolio PPP $219 / 4% – 41% Commercial Construction – 47% Residential $129 /
Slide 11: Mahalo
Mahalo
Slide 12: Appendix
Appendix Central Pacific Financial Corp. 12
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 9/30/21 $558.9 $320.9 FUNDED $/COUNT ~7,200 LOANS ~4,600 LOANS FORGIVENESS/ $522.2 $131.0 PAYDOWNS TO DATE EARNED NET FEES $18.7 $9.8 TO DATE UNEARNED NET $0.4 $7.5 FEES 9/30/21 NET BA
Slide 14: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) 2020 ESG report can be viewed here: https://www.cpb.bank/esg Includes the 4 pillars below: Central Pacific Financial Corp. 14
Slide 15: Non-GAAP Financial Measures - Excluding PPP
Non-GAAP Financial Measures - Excluding PPP 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 fina
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