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FHB posts 4Q earnings

HONOLULU (AP) — First Hawaiian Inc. (FHB) reported fourth-quarter earnings of $61.7 million last week.

The Honolulu-based bank said it had earnings of 47 cents per share. Earnings, adjusted for nonrecurring costs, were 50 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The bank holding company posted revenue of $195.3 million in the period. Its revenue net of interest expense was $188.8 million, also beating Street forecasts.

For the year, the company reported profit of $185.8 million, or $1.43 per share. Revenue was reported as $733.1 million.

First Hawaiian shares have climbed roughly 8 percent since the beginning of the year. The stock has dropped 11 percent in the last 12 months.