Central Pacific Financial Corp New · NYSE:CPF
Central Pacific Financial Corp New — Central Pacific Financial — Q3 2022 Earnings Presentation
12 slides from Central Pacific Financial Corp New's earnings presentation, Oct 21, 2022
Slide 1: 3rd Quarter 2022 Earnings Supplement
3rd Quarter 2022 Earnings Supplement October 21, 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements This document may contain forward-looking statements (“FLS”) 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 oth
Slide 3: Strong Hawaii Economic Position
Strong Hawaii Economic Position Tourism Employment FACTORS FOR A FAVORABLE HAWAII OUTLOOK Visitor arrivals YTD Unemployment Rate Rebound in International visitors expected compared to 2019 August 2022 • Japanese visitors to Hawaii expected to increase as 90% 4.1% travel restrictions have been remove
Slide 4: 3rd Quarter 2022 Financial Highlights
3rd Quarter 2022 3Q 2022 2Q 2022 Financial Highlights NET INCOME / $16.7 Million / $17.6 Million / DILUTED EPS $0.61 $0.64 • Strong loan growth of 9% on an annualized basis TOTAL LOAN +$121 Million +$127 Million GROWTH (+2.3%) (+2.5%) • Net interest income grew by $2.4 million or 4.5% from the prior
Slide 5: Consistent Loan Growth
Loan Portfolio Composition Consistent Loan Growth as of September 30, 2022 C&I Consumer 10% 14% Construction Loan Balances Outstanding-Excluding PPP 3% 5,500 $5.4B 5,000 4,500 $ Millions Coml Mortgage 25% Residential Mortgage 4,000 35% 3,500 3,000 Home Equity 2016 2017 2018 2019 2020 2021 3Q2022 13%
Slide 6: Solid Low-Cost Core Deposit Portfolio
Solid Low-Cost Core Deposit Portfolio Total Deposits $6.6B @ Deposit Portfolio Composition 7,000 0.14% as of September 30, 2022 avg cost Time 6,500 12% Noninterest 6,000 Bearing Demand 33% $ Millions 5,500 5,000 Savings & Money Market 4,500 33% 4,000 Interest Bearing 2016 2017 2018 2019 2020 2021 3Q
Slide 7: Strong Asset Quality
Strong Asset Quality Nonperforming Loans / Total Loans Loans 90+ Days Past Due / Total Loans 1.00% 1.00% 0.80% 0.80% 0.60% 0.60% 0.40% 0.40% 0.20% 0.20% 0.08% 0.03% 0.00% 0.00% 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 ACL / Total Loans 2.00% Strong an
Slide 8: Allowance for Credit Losses
Allowance for Credit Losses • $0.7 million provision for credit loss on loans in 3Q22 driven by loan growth and net charge-offs; partially offset by a $0.3 credit to the reserve for unfunded commitments, for a total provision for credit loss of $0.4 million • ACL coverage ratio at 1.19% for 3Q22 4Q2
Slide 9: Solid Capital Position
Solid Capital Position Regulatory Capital Ratios As of September 30, 2022 STRONG CAPITAL AND SHAREHOLDER RETURN 16.0% $208 13.7% million • Maintained quarterly cash dividend at $0.26 per share which 12.0% 10.6% capital will be payable on December 15, 2022 8.7% cushion to 8.0% well • Consistent histo
Slide 10: Central Pacific Bank ranked #1 Best-in-State Bank in Hawaii for 2022
Central Pacific Bank ranked #1 Best-in-State Bank in Hawaii for 2022 Central Pacific Financial Corp. 10
Slide 11: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) 2021 ESG report can be viewed here: https://www.cpb.bank/esg Central Pacific Financial Corp. 11
Slide 12: Mahalo
Mahalo
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