CENTRAL PACIFIC FINANCIAL CORP
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 26, 2025
CPF$39.11+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (Dollars in thousands, except per share data) | |||
| Interest income: | |||
| Interest and fees on loans | $258,192 | $243,315 | $200,280 |
| Interest and dividends on investment securities: | |||
| Taxable investment securities | 33,278 | 28,789 | 28,041 |
| Tax-exempt investment securities | 2,527 | 2,912 | 3,204 |
| Dividend income on investment securities | — | — | 21 |
| Interest on deposits in other financial institutions | 11,593 | 7,163 | 740 |
| Dividend income on FHLB stock | 509 | 478 | 370 |
| Total interest income | 306,099 | 282,657 | 232,656 |
| Interest expense: | |||
| Interest on deposits: | |||
| Demand | 2,159 | 1,701 | 806 |
| Savings and money market | 37,043 | 21,979 | 4,188 |
| Time | 46,084 | 39,205 | 6,114 |
| Interest on short-term borrowings | 1 | 1,139 | 1,055 |
| Interest on long-term debt | 9,079 | 8,633 | 4,930 |
| Total interest expense | 94,366 | 72,657 | 17,093 |
| Net interest income | 211,733 | 210,000 | 215,563 |
| Provision (credit) for credit losses | 9,826 | 15,698 | (1,273) |
| Net interest income after provision for credit losses | 201,907 | 194,302 | 216,836 |
| Other operating income: | |||
| Mortgage banking income | 3,388 | 2,592 | 3,810 |
| Service charges on deposit accounts | 8,656 | 8,753 | 8,197 |
| Other service charges and fees | 22,553 | 20,531 | 19,025 |
| Income from fiduciary activities | 5,761 | 4,895 | 4,565 |
| Income from bank-owned life insurance | 6,619 | 4,870 | 1,865 |
| Net (losses) gains on sales of investment securities | (9,934) | (2,074) | 8,506 |
| Other | 1,680 | 7,096 | 1,951 |
| Total other operating income | 38,723 | 46,663 | 47,919 |
| Other operating expense: | |||
| Salaries and employee benefits | 85,941 | 82,050 | 88,781 |
| Net occupancy | 18,001 | 18,185 | 16,963 |
| Equipment | 3,881 | 3,958 | 4,238 |
| Communication | 3,177 | 3,010 | 2,958 |
| Legal and professional services | 9,790 | 9,959 | 10,792 |
| Computer software | 18,015 | 17,726 | 14,840 |
| Advertising | 3,615 | 3,888 | 4,151 |
| Other | 30,171 | 25,367 | 23,263 |
| Total other operating expense | 172,591 | 164,143 | 165,986 |
| Income before income taxes | 68,039 | 76,822 | 98,769 |
| Income tax expense | 14,627 | 18,153 | 24,841 |
| Net income | $53,412 | $58,669 | $73,928 |
| Per common share data: | |||
| Basic earnings per share | $1.97 | $2.17 | $2.70 |
| Diluted earnings per share | 1.97 | 2.17 | 2.68 |
| Cash dividends declared | 1.04 | 1.04 | 1.04 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.