Earnings call transcript: Central Pacific Financial beats Q2 2025 earnings forecasts

Central Pacific Financial Corp. reported second-quarter earnings for 2025 that surpassed market expectations, with an earnings per share (EPS) of $0.67, beating the forecast of $0.64. The company’s revenue also exceeded predictions, reaching $72.81 million against a forecast of $71.8 million. Despite these positive results, the stock price saw a slight decline of 0.83% to close at $27.86. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates, with 2 analysts recently revising their earnings expectations upward for the upcoming period. This movement positions the stock closer to its 52-week low of $23.16, indicating a cautious market sentiment despite the earnings beat.

Key Takeaways

• EPS surpassed expectations by 4.69%, with actuals at $0.67 against a $0.64 forecast.
• Revenue came in at $72.81 million, exceeding forecasts by 1.41%.
• Stock price decreased by 0.83% in post-earnings trading.
• Continued focus on expanding customer relationships and deposit initiatives in Asia.
• Named "Best Bank in Hawaii" by Forbes for the fourth consecutive year.

Company Performance

Central Pacific Financial Corp. demonstrated robust performance in the second quarter of 2025, with net income reaching $18.3 million. The company achieved a return on average assets of 1% and a return on average equity of 13.04%. The efficiency ratio improved to 60.36%, reflecting enhanced operational effectiveness. InvestingPro data reveals the company has maintained dividend payments for 13 consecutive years, currently offering a 3.91% yield, while maintaining a moderate P/E ratio of 12.44. Net interest income rose by 3.6% from the previous quarter, supported by a 13 basis point expansion in net interest margin to 3.44%.

Financial Highlights

• Revenue: $72.81 million, up from forecasted $71.8 million.
• Earnings per share: $0.67, surpassing the expected $0.64.
• Net interest income: $59.8 million, a 3.6% quarter-over-quarter increase.
• Total deposits: $6.54 billion.
• Loan portfolio: $5.29 billion.

Earnings vs. Forecast

Central Pacific Financial Corp.’s EPS of $0.67 exceeded the forecast of $0.64, resulting in a positive surprise of 4.69%. This marks a notable achievement compared to previous quarters, where the company has consistently met or slightly exceeded earnings expectations. The revenue of $72.81 million also surpassed expectations, indicating strong business momentum.

Market Reaction

Despite the earnings beat, Central Pacific Financial’s stock experienced a decline of 0.83% in the immediate aftermath of the earnings release, closing at $27.86. This movement suggests a cautious market outlook, possibly influenced by broader economic conditions or sector-specific trends. The stock remains within its 52-week range, closer to the low end.

Outlook & Guidance

The company maintains a cautiously optimistic outlook for Hawaii’s economy, targeting low single-digit growth in loans and deposits for 2025. Expense guidance is set between $43.5 million and $44.5 million per quarter, with a continued focus on managing deposit costs. Potential Federal Reserve rate cuts are anticipated, which could impact future earnings.

Executive Commentary

"Hawaii’s fundamental economic drivers remain sound and have proven to be resilient," stated CEO Arnon Martinez, highlighting the company’s confidence in the local market. Vice Chairman David Morimoto reiterated the strategy of targeting low single-digit growth for loans and deposits. CFO Dana Matsumoto expressed satisfaction with the net interest margin expansion, emphasizing the company’s proactive balance sheet management.

Risks and Challenges

• Potential macroeconomic pressures affecting Hawaii’s tourism-dependent economy.
• Rising competition in the banking sector within Hawaii.
• Regulatory changes that could impact operational costs or profitability.
• Interest rate fluctuations affecting net interest income and margin.
• Economic uncertainties in key international markets, particularly Japan and Korea.

Q&A

During the earnings call, analysts inquired about the company’s loan pipeline and growth expectations, credit quality, and strategies for managing deposit costs. Executives detailed the minimal systemic risk to credit quality and clarified new loan production yields, which stand at approximately 7.2%.

Central Pacific Financial Corp. continues to demonstrate resilience and strategic foresight, positioning itself as a stable player in Hawaii’s competitive banking landscape.

Full transcript - Central Pacific Financial Corp (CPF) Q2 2025:

Conference Operator: Good afternoon, and gentlemen. Thank you for standing by, and welcome to the Central Pacific Financial Corp. Second Quarter twenty twenty five Conference Call. During today’s presentation, all parties will be in a listen only mode. Following the presentation, the conference will be open for questions.

This call is being recorded and will be available for replay shortly after its completion on the company’s website at www.cpb.bank. I’d like to turn the call over to Ms. Dana Matsumoto, EVP, Chief Financial Officer. Please go ahead.

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Thank you, Rebecca, and thank you all for joining us as we review the financial results of the 2025 for Central Pacific Financial Corp. With me this morning are Arnon Martinez, Chairman, President and Chief Executive Officer David Morimoto, Vice Chairman and Chief Operating Officer Ralph Miesek, Senior Executive Vice President and Chief Risk Officer and Anna Hu, Executive Vice President and Chief Credit Officer. We have prepared a supplemental slide presentation that provides additional details on our earnings release and is available in the Investor Relations section of our website at cpb.bank. During the course of today’s call, management may make forward looking statements. While we believe these statements are based on reasonable assumptions, they involve risks that may cause actual results to differ materially from those projected.

For a complete discussion of the risks related to our forward looking statements, please refer to Slide two of our presentation. And now, I’ll turn the call over to our Chairman, President and CEO, Arnaud Martinez.

Arnon Martinez, Chairman, President and Chief Executive Officer, Central Pacific Financial Corp.: Thank you, Dana, and aloha, everyone. Before diving into our quarterly results, I’d like to take a moment to proudly share that CPB was named the best bank in Hawaii by Forbes Magazine in 2025. This is the fourth consecutive year the bank has made the Forbes list. Our second quarter financial results demonstrate the continued strength of our core business and ability to execute effectively in a dynamic market environment. The bank’s strong asset quality, capital and liquidity positions will enable us to grow our business by continuing to support the needs of our customers and the markets we serve.

I want to thank our dedicated employees, customers, community and shareholders for your continued support of our bank. Turning to our Hawaii market update. The state’s economy continues to demonstrate resilience across multiple sectors. The construction industry remains solid with completed construction in the state reaching 14,000,000,000 in 2024. Activity in 2025 is expected to show steady growth driven by several major infrastructure and residential developments.

Tourism, a key driver of our economy shows encouraging trends. Through May year to date, visitor arrivals were up 2.8% from the prior year and down just 3.9% from pre pandemic twenty nineteen. Total visitor spending was up 6.5% from the same prior year period and up 24.3% from the same period in 2019. The majority of the growth is from domestic travelers, while the recovery of Japanese visitors continues to be low. Hawaii’s statewide seasonally adjusted unemployment rate remained very low at 2.8% in June and continued to outperform the national unemployment rate of 4.1%.

The strong labor market continues to support consumer confidence and spending in our local economy. The Hawaii residential real estate market remains steady. Single family home prices in Hawaii rose 0.4% in June with a $1,130,000 median sales price. Home sales volumes for June year to date dipped 2.1% for single family homes and dipped 6% for condos compared to the same prior year period. The housing supply in Hawaii continues to be tight, but has picked up in recent periods and now has a positive outlook with a number of large housing projects in development.

Looking ahead, we maintain a cautiously optimistic outlook for Hawaii’s economy. While we’re mindful of potential headwinds from global and domestic economic conditions, Hawaii’s fundamental economic drivers remain sound and have proven to be resilient. Overall, we feel good about our core business environment and the opportunities ahead. With that said, I’ll now turn the call over to David, who will talk about our growth strategy and outlook. David?

David Morimoto, Vice Chairman and Chief Operating Officer, Central Pacific Financial Corp.: Thank you, Arnold. Our loan and deposit growth strategy continues to focus on deepening customer relationships and growing market share in Hawaii, in select Mainland markets and in Asia. While growth was muted in the 2025 as anticipated, the outlook for the second half of the year looks favorable. We continue to target low single digit full year growth for both loans and deposits in 2025. In the second quarter, our loan portfolio declined slightly and ended at $5,290,000,000 By segment, growth was achieved in construction and consumer loans, while declines occurred in all other categories.

Average yields earned on loans during the second quarter increased to 4.96% from 4.88 in the prior quarter as we continue to add new loans at current market rates. Our loan pipeline remains healthy including several CRE and construction loans that we are booking in early third quarter, which will provide revenue lift for the second half of the year. On the deposit front, we ended the second quarter with total deposits of $6,540,000,000 which also declined slightly from the prior quarter. The deposit mix continued to shift favorably with an increase in noninterest bearing DDA deposits. Our teams remain focused on growing core deposits while managing the cost of funds in this competitive environment.

Additionally, our deposit generation initiatives related to Japan and Korea are gaining traction and play a role in our overall growth strategy. I’ll now turn the call over to Dana, who will provide an update on our financials. Dana?

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Thanks, David. Our financial results continue to trend positively for the second quarter of twenty twenty five. Starting with our core earnings metrics, we reported net income of $18,300,000 or $0.67 per diluted share. Return on average assets was 1% and return on average equity was 13.04%. We achieved an improved efficiency ratio of 60.36% as the focus continues to be on driving positive operating leverage through revenue expansion, internal efficiencies and expense management.

Net interest income showed strong performance increasing 3.6 quarter over quarter to $59,800,000 Our net interest margin expanded by 13 basis points to 3.44% driven by the loan portfolio yield increasing by eight basis points combined with total deposit costs declining by six basis points. Our total cost of deposits was just 1.02% in the second quarter. We are pleased with our NIM expansion and continue to manage our balance sheet in the current rate environment while maintaining a disciplined approach to pricing. Total other operating income was $13,000,000 in the second quarter. There was a $1,900,000 increase quarter over quarter primarily due to higher BOLI income resulting from equity market gains.

Total other operating expense was $43,900,000 in the second quarter, which was an increase of 1,900,000 quarter over quarter due to higher deferred compensation expense also related to equity market gains as well as higher computer software expense. The computer software increase was driven by our new data center, which had offsets in several other expense line items and was slightly elevated this quarter due to overlap of services during conversion. The exit of our Operations Center building discussed on our prior quarter call is expected to happen by year end and will result in a one time pretax write off of 2,000,000 to $2,500,000 Going forward, we expect to realize total annual savings from reduced lease, operating and maintenance expenses of approximately $1,000,000 Our effective tax rate was 23.5% in the second quarter and is expected to remain in the range of 22% to 24%. During the second quarter of twenty twenty five, we repurchased approximately 103,000 shares of common stock at a total cost of $2,600,000 or $25 per share. As of June 30, 25,300,000.0 in share repurchase authorization remains available.

Finally, our Board of Directors declared a quarterly cash dividend of $0.27 per share, which will be payable on September 15 to shareholders of record on August 29. I’ll now turn the call over to Ralph.

Ralph Miesek, Senior Executive Vice President and Chief Risk Officer, Central Pacific Financial Corp.: Thank you, Dana. Strong credit performance and asset quality continued in the second quarter. Credit costs were up within our expected operating range and the level of NPAs, past dues and criticized assets remained low. Net charge offs were $4,700,000 or 35 basis points annualized on average loans. The increase in net charge offs this quarter was related to the write off of a single commercial loan after the borrower lost a legal dispute and effectively ceased operations.

Losses in the consumer book were relatively flat to the prior quarter and down year over year. Non performing assets were $14,900,000 or 20 basis points of total assets at quarter end, an increase of five basis points from the prior quarter. The increase came in the residential mortgage and HELOC portfolio. Residential mortgages comprise the bulk of our NPAs. Past due loans, ninety days plus, increased $2,100,000 and represent four basis points of total loans.

Criticized loans increased to 180 basis points of total loans, but remained at low levels. As part of the enhanced monitoring effort we implemented at the start of the tariff declaration, we downgraded two large loans this quarter, a hotel participation and an owner occupied CRE loan. Both loans are performing and adequately collateralized. The provision expense was $5,000,000 In the quarter, we added $3,800,000 to the allowance, an additional $1,200,000 to the reserve for unfunded commitments. The higher provision was primarily driven by increases in the construction loan commitments combined with higher net charge offs incurred this quarter.

We continue to maintain a strong level of capital as additional support. Total risk based capital was 15.8% at the end of the second quarter. At these levels, the bank can readily absorb the financial impacts that may result from a period of prolonged stress. Looking ahead, we will continue to rely on a well tested management approach that considers risk through a cycle, anticipates a range of outcomes and builds a margin of safety to deal with adverse conditions. With that, let me now turn the call back to Arnold for closing remarks.

Arnon Martinez, Chairman, President and Chief Executive Officer, Central Pacific Financial Corp.: Thank you, Ralph. As we conclude, I want to emphasize the solid performance we’ve delivered. It demonstrates our ability to optimize performance in a dynamic market environment. I want to express my gratitude to our employees whose voyaging spirit navigates us through these uncertain times. To our customers, thank you for your continued trust and loyalty.

And to our shareholders, thank you for your ongoing support and confidence in our strategy and execution. At this time, we will be happy to address any questions you may have.

Conference Operator: And your first question comes from the line of David Feeter with Raymond James.

David Feeter, Analyst, Raymond James: Hey, good morning everybody. Good morning, David. I wanted to start on the growth side. I mean, it sounds like there’s some pretty encouraging trends here heading in the back half of the year, the pipeline is healthy. I was just kind of curious maybe what you saw in the quarter.

I mean how’s the pulse of your client? How’s demand trending? Or is this more of a function of payoffs and paydowns offsetting otherwise solid originations? So just kind of curious on that, just again, the pulse of the competitive landscape from your perspective.

Arnon Martinez, Chairman, President and Chief Executive Officer, Central Pacific Financial Corp.: Yeah. David, this is Arnold. Let me just start, and I’ll turn it over to Dave David Muramoto for for more color. Yeah. You know, the the loan growth for the first half was fairly muted, but that’s expected given the, you know, the operating environment.

The team has done a really good job in working together and engaging, you know, the marketplace and and our customers and prospects. And we feel, you know, we feel good about the the second half of the year. We we are still looking at low single digit percent range growth for the full year. David can talk a little bit about what he’s seeing and what we expect in the

David Morimoto, Vice Chairman and Chief Operating Officer, Central Pacific Financial Corp.: next quarter or two. Hey, David. Yeah. In the second quarter, there was a continued runoff of the expected continued runoff of the residential mortgage and HELOC portfolios, and and that likely will continue. We did see a a few payoffs in the, mainland shared national credit portfolio, but that was, you know, that that was by by design.

We had a couple deals where the deals were recut, and we just chose not to continue participating because we have other, growth opportunities, growth levers. On on the positive side, we have a robust pipeline, and we had a handful of deals that were expected to close late second quarter that slipped into the third quarter. And, as we mentioned in our prepared remarks, we did, close a handful of loans, in in the July, and we have strong net loan growth already in July that will help revenue growth for the full full year, full full year, the back half of the year.

David Feeter, Analyst, Raymond James: Okay. Okay. That’s helpful. And then, again, how how’s how’s just competition? I mean, are are you seeing much competition increase?

And then, again, you know, of along the same lines to some degree, I mean, there’s been a lot of disruption on the islands recently. I’m just curious how you think about your positioning to to capitalize that, maybe gain share and dis dislocate maybe some talent and clients.

David Morimoto, Vice Chairman and Chief Operating Officer, Central Pacific Financial Corp.: Yeah, David. It’s, David again. On the competition front, you know, there there always is, you know, good competition in in the local Hawaii banking market. I wouldn’t say it’s any any, you know, stronger or weaker. I think it’s pretty pretty been pretty average.

And then on the second part of the question about the, recent changes in the Hawaii banking market, I haven’t noticed any change with regard to, territorial or American. You know, they they remain, you know, solid competitors, but, no real change in strategy that I’ve noticed.

David Feeter, Analyst, Raymond James: Okay. Okay. Maybe shifting gears to the other side of the balance sheet. Your your your non interest bearing deposit growth was extremely impressive. I’m curious maybe where where do you find that you’re having more success driving that?

And then, as we think about your margin trajectory over the next couple of quarters, how much deposit cost leverage do you have to support that? Or is it primarily going to be loan growth and back book repricing driven as you think about the margin side?

Arnon Martinez, Chairman, President and Chief Executive Officer, Central Pacific Financial Corp.: David, let me just start. This is Arnold, and then I’ll turn it back over to David. But I just wanted to comment that I think our team has done a really good job in keeping close to our customers, ensuring that we’re meeting the needs of our customers, as well as focusing on prospecting. And and we’re doing that in collaboration internally to really manage, you know, manage, you know, the the balance between deposit growth and margin, and it shows in our core operating results. So I’m really pleased with that.

But David can comment on, you know, kind of what we’re looking at and the outlook and kind of what we’re seeing that’s kind of translating to, you know, our results.

David Morimoto, Vice Chairman and Chief Operating Officer, Central Pacific Financial Corp.: Yeah. Thanks, Arnold. Yeah, David. We we we have a good plan to grow core deposits, low cost core deposits. And as every as as you know, to grow core deposits, it’s really, you know, moving relationships.

And so it’s it’s really blocking and tackling, prospecting. And, we’re ramping up our efforts on that front, and we’re seeing early success. And I think that’s what you saw in the second quarter with the positive mix shift in deposits.

David Feeter, Analyst, Raymond James: Okay. On expense side, Dana, you touched on it a bit. There’s some puts and takes there, with the BOLI stuff, the lease savings. Could you help us think through maybe what’s a good core expense run rate as we look forward? And maybe what are some of the areas that you’re investing in?

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Sure, David. Thanks for the question. So on the expense side, yes, we are pretty pleased with our progress on the efficiency ratio and driving positive operating leverage. As we had noted previously, we do continue to invest in the business, including in technology, facilities, as well as people, you know, where it makes sense strategically. And those investments are to create efficiency savings and ultimately drive greater revenue.

So with all of that said, you know, pulling it together, our near term guidance for total other operating expense is going to be in the range of 43,500,000.0 to $44,500,000 per quarter, and that would be excluding any onetime impacts.

David Feeter, Analyst, Raymond James: Okay. Okay. That’s helpful. And then maybe just last one for me. Ralph, circling back to you to get hit the whole team.

Just your I appreciate your commentary on the credit side. I’m just curious, maybe high level, we had one larger loss this quarter, it sounds kind of idiosyncratic and it seems like the consumer side is kind of stabilized. I’m just high level, is there anything that you’re seeing that’s making you a bit nervous or cautious on or just kind of your thoughts the credit side more broadly?

Ralph Miesek, Senior Executive Vice President and Chief Risk Officer, Central Pacific Financial Corp.: Yeah, David. You know, the uptick in the AQ metrics is really a function of being at a low starting point. I think if you consider the endpoint, we’re well within our risk appetite. And then I I would not extrapolate the charge off or the two downgrades to be related to anything systemic. The circumstances around the three credits, that we highlighted were specific to each name.

And I think that perspective is kind of reflected in the reserve actions we took this quarter. The level of expected loss we see in the portfolio is relatively unchanged. And then I think if you think about those losses based on the composition of our loan book, we expect credit losses between twenty five and fifty basis points. And if you look at our incurred losses over the last few years, they run between ten and forty basis points. We were at maybe the higher part of that range this quarter annualized.

But if you back out that one credit, which was unexpected, the incurred losses would have been at the lower end of that range. You know, we’re continuing to call on our customers, regularly. We we are looking at large exposures very frequently. I think the cadence has become more rigorous because of where we’re at in the cycle. And I think when you look at those two credits that were downgraded, you know, that that is really a function of the outlook we have today.

We’ve identified some weakness that warrants closer attention, but we’ve evaluated those loans for impairment, and and they’re well collateralized. We don’t anticipate any losses, and it’s important to point out that both credits are performing. Your

Conference Operator: next question comes from the line of Matthew Clark with Piper Sandler.

Arnon Martinez, Chairman, President and Chief Executive Officer, Central Pacific Financial Corp.: Hey, good morning everyone. Hi, Matthew.

Matthew Clark, Analyst, Piper Sandler: Maybe just starting on the margin, nice lift there this quarter again. Deposit cost down. Just want to get a sense for exiting the quarter where the spot rate was on deposit costs if you had it at the June. And then if you also had the average margin in the month of June, that would be helpful.

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Hi, Matthew. It’s Dana. So, yeah, I can start with the spot rates. So the the spot deposit cost on June 30, it was point 98%. And then for the month of June, our margin was 3.49.

Matthew Clark, Analyst, Piper Sandler: Okay. Great. And then, can you remind us what you have coming due on the CD repricing side? You know, how much you have over the next couple of quarters that are maturing and the rates that they’re maturing at and where you’re offering new CDs?

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Sure. So on the CD portfolio, we have about four thirty million maturing in the third quarter and then another about three fifty million maturing in the fourth quarter. This excludes our government CDs. As far as the roll off rates on a weighted average basis, it’s about 3.6%. And our current CD promotional rate that we’re offering, it’s at 3.4%.

So we we continue to have some opportunity to lower our CD costs as those roll over.

Matthew Clark, Analyst, Piper Sandler: Okay. And then assuming we get a couple of rate cuts in the back half of this year, any thoughts around the beta that you might realize with those cuts? I mean, your cycle to date beta on interest bearing, I think, is about 42%, which is better than it’s more than on the way up, I should say. But, yeah, just curious how how much of the, Fed rate cuts you might be able to pass through on the deposit side.

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Sure. So when the Fed cuts rates, we believe we can continue to successfully lower our deposit costs, with with a pretty minimal timing lag. The the deposit pricing market here continues to be pretty rational. As far as the the betas, you’re correct. So far, it’s been about 42% on the total interest bearing deposits.

When you look specifically at our more rate sensitive deposits, the money markets and the CDs, the beta has been close to 100%. So with the upcoming Fed rate cuts, we expect it to be similar on the betas, and we think we’ll continue to be successful with our pricing strategies and continued discipline.

Matthew Clark, Analyst, Piper Sandler: Great. Okay. Thank you. And then on the loan yields, up nicely here, up six basis points, I believe, at least by our calculation. Can you give us a sense for the new loan production?

What kind of rates you’re getting maybe on a weighted average basis? Just trying to get a sense for the lift on loan growth.

David Morimoto, Vice Chairman and Chief Operating Officer, Central Pacific Financial Corp.: Hey, Matthew. It’s David Marimoto. In the second quarter, the weighted average new loan yield was roughly 7.2, which obviously compares favorably to the portfolio yield that you mentioned is just about 5%.

Matthew Clark, Analyst, Piper Sandler: Okay, great. And then on the net charge offs, I think you mentioned kind of without this one C and I credit, it would have been toward the lower end of the range in terms of net charge offs. But can you just quantify, I’d have to go

David Morimoto, Vice Chairman and Chief Operating Officer, Central Pacific Financial Corp.: back I can go back

Matthew Clark, Analyst, Piper Sandler: to the transcript. But if you could just quantify the amount of, net charge offs associated with that one credit dollar terms?

Ralph Miesek, Senior Executive Vice President and Chief Risk Officer, Central Pacific Financial Corp.: Yeah. It was about, 21 basis points of of the amount. So if you back that up, we would have been at about 14 basis points.

Matthew Clark, Analyst, Piper Sandler: Okay. Perfect. And then just the increase in criticized, you called out those two credits. I think one was the hotel participation. The other one, like, I can’t recall.

But, can you just give us some more color on on, you know, what’s what’s happening with those two credits and kind of plan for resolution and timing?

Ralph Miesek, Senior Executive Vice President and Chief Risk Officer, Central Pacific Financial Corp.: Yeah. You know, I I wanna be as transparent as possible, but I I need to be sensitive to the information we disclose on these calls. So I I can’t really say more than that, and I think it would it would be inappropriate for me to say, you know, provide more details. But as I as I said, we we do not expect, any losses on these two credits, And we do believe that there will be some resolution in the coming couple of quarters.

Matthew Clark, Analyst, Piper Sandler: Okay. Thank you. And then last one for me. Just on the mainland SNC portfolio, can you remind us how large that portfolio is?

Ralph Miesek, Senior Executive Vice President and Chief Risk Officer, Central Pacific Financial Corp.: Let’s say it’s about 300 and I’m sorry. About $4.00 $3,000,000 and that breaks out roughly $152,000,000 of that is DNI.

Arnon Martinez, Chairman, President and Chief Executive Officer, Central Pacific Financial Corp.: Okay. Perfect. Thank you. Thank you, Matthew.

Conference Operator: And at this time, there are no further questions. I will now turn the call back over to Dana Matsumoto for closing remarks.

Dana Matsumoto, EVP, Chief Financial Officer, Central Pacific Financial Corp.: Thank you very much for participating in our earnings call for the second quarter of twenty twenty five. We look forward to sharing our progress with you next quarter. Thank you.

Conference Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.