First Hawaiian COO Chris Dods to Resign in March 2025

HONOLULU - First Hawaiian, Inc. (NASDAQ: FHB), a prominent bank holding company with a market capitalization of $3.35 billion, has announced the resignation of its Vice Chairman and Chief Operating Officer, Christopher L. Dods, effective March 31, 2025. Dods, who has been with First Hawaiian Bank since 2007, will continue his duties through the first quarter of 2025 to facilitate a seamless transition of his responsibilities. According to InvestingPro data, the company's stock has shown strong momentum with a 31% gain over the past six months.

During his tenure at First Hawaiian Bank, Dods played a pivotal role in the company's growth and technological advancement. Starting in the Card Services Division, he was responsible for overseeing the development, operations, and compliance of credit and debit card products. His role expanded over the years to encompass marketing, corporate communications, digital banking, and consumer products. In 2021, Dods was promoted to Vice Chairman and COO, where he took on additional responsibilities including Enterprise Technology Management, Enterprise Operations Services, Data and Analytics, and Strategy and Transformation. Under the current leadership team, First Hawaiian maintains a solid financial position with a P/E ratio of 14.8 and has consistently paid dividends for 9 consecutive years, as reported by InvestingPro.

Bob Harrison, Chairman, President, and CEO of First Hawaiian, acknowledged Dods' significant impact on the institution, stating, "Under his leadership, we have made great strides in modernizing the bank and creating a user-friendly, highly functional digital experience for both our consumer and business customers." Harrison expressed gratitude for Dods' contributions and extended best wishes for his future endeavors.

Reflecting on his career, Dods shared his pride in working for First Hawaiian Bank and his deep appreciation for the organization and its people. He described his time at the bank as a privilege and highlighted the bank's storied history and community presence.

First Hawaiian, Inc. is the parent company of First Hawaiian Bank, which is recognized as Hawaii's largest financial institution. Founded in 1858 as Bishop & Company, it operates branches throughout Hawaii, Guam, and Saipan. The company offers a comprehensive range of banking services, including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card, and merchant processing services. Customers have access to their accounts via ATMs, online, and mobile banking channels.

This announcement is based on a press release statement from First Hawaiian, Inc.

In other recent news, First Hawaiian Inc (NASDAQ:FHB). reported a mixed financial performance for Q3 2024. Despite a decrease in tourism, the bank saw an increase in net interest income, reaching $156.7 million, while maintaining a stable credit quality. However, the bank experienced a decline in loan volumes due to unexpected payoffs and a slight decrease in deposits.

First Hawaiian Inc. has plans to resume share repurchases, with a $40 million authorization slated for 2024. The bank also anticipates growth opportunities in commercial real estate and dealer floor plans. Fee income, particularly from credit and debit card fees, remains robust, contributing to a projected $50 million in Q4.

The bank expects a modest decline in net interest margin in Q4, and aims to maintain non-interest-bearing deposits at pre-pandemic levels. Despite some challenges, such as competitive pressures in loan growth and a slight decrease in securities portfolio yields, First Hawaiian Inc. remains resilient, leveraging its strong capital position and fee income to navigate the current economic landscape. These are among the recent developments for the company.

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