HONOLULU (AP) — Central Pacific Financial Inc. (CPF) on Wednesday reported second-quarter profit of $9.9 million.
The Honolulu-based bank said it had earnings of 35 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The operator of Central Pacific Bank posted revenue of $63.6 million in the period. Its revenue net of interest expense was $60 million, also topping Street forecasts.
Central Pacific Financial shares have fallen 51% since the beginning of the year. The stock has dropped 50% in the last 12 months.