First Hawaiian Q1 Net Income $67.8M; Deposits Up $261.7M, $0.26 Dividend
First Hawaiian reported first-quarter net income of $67.8 million, or $0.55 per share, on total assets of $24.3 billion and saw loans rise by $128.3 million while deposits climbed $261.7 million. Net interest margin dipped two basis points to 3.19% and the board declared a $0.26 quarterly dividend.
1. First-Quarter Performance
First Hawaiian posted net income of $67.8 million (EPS $0.55) in Q1 2026, with net interest income of $167.5 million and net interest margin of 3.19%, down two basis points. Total loans reached $14.4 billion, up $128.3 million, while deposits increased by $261.7 million to $20.8 billion, boosting total assets to $24.3 billion.
2. Asset Quality
Credit quality remained solid with a $5.0 million provision for credit losses, down from $7.7 million in the prior quarter. The allowance for credit losses was $169.3 million (1.17% of loans), net charge-offs were $4.9 million (0.14% of average loans), and non-performing assets fell to $39.7 million (0.27% of loans and OREO).
3. Capital Management
The board declared a $0.26 per share quarterly cash dividend payable May 29 with a May 18 record date. The bank repurchased approximately 1.3 million shares for $32.0 million at an average cost of $24.47 per share under its share buyback program.