Shares of First Hawaiian Inc. (NASDAQ:FHB) fell around 4% in premarket trading on Friday after the bank reported first-quarter results that exceeded earnings expectations but missed on revenue.
Earnings Beat, Revenue Falls Short
The Hawaii-based lender posted adjusted earnings per share of $0.55, slightly above the $0.54 consensus estimate.
Revenue came in at $220.35 million, below analyst forecasts of $221.04 million, though still up from $211 million in the same quarter last year.
Net income reached $67.8 million for the quarter ended March 31, 2026, compared with $59.2 million a year earlier.
Margins and Income Trends
Net interest margin narrowed by 2 basis points to 3.19%, down from 3.21% in the prior quarter.
Net interest income declined by $2.8 million to $167.5 million, while the provision for credit losses decreased to $5 million from $7.7 million in the fourth quarter of 2025.
“I’m pleased to report that First Hawaiian started 2026 with a strong first quarter,” said Bob Harrison. “We had good growth in loans and deposits, and credit quality remained excellent.”
Loan and Deposit Growth
Total loans and leases increased by $128.3 million to $14.4 billion during the quarter.
Deposits rose by $261.7 million to $20.8 billion, reflecting continued balance sheet expansion.
Expenses and Capital Return
Noninterest income declined by $2.7 million to $52.8 million compared with the previous quarter, while noninterest expenses increased by $2.8 million to $127.9 million.
The board declared a quarterly dividend of $0.26 per share, payable on May 29, 2026.
First Hawaiian also repurchased approximately 1.3 million shares during the quarter for a total of $32 million, at an average price of $24.47 per share.