CPF - Central Pacific Financial GAAP EPS of $0.60 beats by $0.03 revenue of $65.2M in-line

2023-04-26 06:41:44 ET

• Central Pacific Financial press release ( NYSE: CPF ): Q1 GAAP EPS of $0.60 beats by $0.03 .
• Revenue of $65.2M (+7.8% Y/Y) in-line.
• ROA of 0.87% and ROE of 13.97% for the quarter.
• Total loans of $5.56 billion increased by $1.9 million in the first quarter.
• Total deposits of $6.75 billion increased by $10.7 million in the first quarter. 66% of total deposits are FDIC-insured or fully collateralized as of March 31, 2023.
• Asset quality remains strong as nonperforming assets totaled $5.3 million, or 0.07% of total assets.

• The efficiency ratio for the first quarter of 2023 was 64.58%, compared to 59.56% in the previous quarter and 63.16% in the year-ago quarter.

• The effective tax rate for the first quarter of 2023 was 23.8%, compared to 24.9% in the previous quarter and 23.7% in the year-ago quarter.

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