Central Pacific Financial Corp.: Q4 2024 Earnings Report
Central Pacific Financial Corp. (CPF), the parent company of Central Pacific Bank (CPB), recently released its earnings report for the fourth quarter of 2024. The company reported a net income of $11.3 million, or fully diluted earnings per share (EPS) of $0.42.
Fourth Quarter Results
In comparison to the previous quarter, the net income and EPS decreased by $2 million and $0.07 respectively. This decline can be attributed to a decrease in net interest income and non-interest income. The net interest income for Q4 2024 was $36.4 million, a decrease of $2.9 million from the previous quarter. Non-interest income was $12.1 million, a decrease of $1.4 million from Q3 2024.
Full Year Results
Despite the decline in Q4 2024 earnings, the company reported a net income of $53.4 million and EPS of $1.97 for the full year 2024. This represents a decrease in net income of $9.5 million and EPS of $0.18 compared to the previous year.
Impact on Shareholders
The decline in earnings for Q4 2024 and the full year 2024 may negatively impact shareholders. A lower EPS may result in a lower stock price, potentially decreasing the value of their investment. However, it is important to note that one quarter’s or even one year’s earnings do not necessarily indicate the long-term health of a company.
Impact on the Economy
Central Pacific Financial Corp. is just one component of the larger financial sector. A decline in earnings for this company could potentially indicate broader economic trends. For example, a decrease in net interest income may indicate a decrease in borrowing and lending activity, which could negatively impact economic growth. However, it is important to note that one company’s earnings report does not necessarily indicate the overall health of the economy.
Conclusion
Central Pacific Financial Corp.’s Q4 2024 earnings report showed a decrease in net income and EPS compared to the previous quarter and year-ago quarter. This decline was due in part to a decrease in net interest income and non-interest income. Shareholders may be negatively impacted by this decline, but it is important to remember that one quarter’s earnings do not necessarily indicate the long-term health of a company. Additionally, the impact on the economy as a whole is unclear, and further analysis is needed to determine any potential broader implications.
- Central Pacific Financial Corp. reported net income of $11.3 million and EPS of $0.42 for Q4 2024
- Net income and EPS for the full year 2024 were $53.4 million and $1.97 respectively
- Decline in net interest income and non-interest income contributed to the decrease in earnings
- Impact on shareholders and the economy is unclear and requires further analysis
