Central Pacific Financial Corp. (CPF) 10-Year Financial Performance & Capital Metrics

CPF • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutCentral Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit. The company's lending activities comprise commercial loans, financial and agricultural loans, commercial and residential mortgages, and construction loans to small and medium-sized companies, business professionals, and real estate investors and developers, as well as home equity, and consumer loans to local homebuyers and individuals. It also provides debit cards, internet and mobile banking, cash management, full-service ATMs, digital banking services, traveler's checks, safe deposit boxes, international banking services, night depository facilities, foreign exchange and wire transfers, trust services, and retail brokerage services. In addition, the company offers wealth management products and services, including non-deposit investment products, annuities, insurance, investment management, asset custody, and general consultation and planning services. As of December 31, 2021, it operated 30 branches and 69 automated teller machines in the state of Hawaii. The company was incorporated in 1954 and is headquartered in Honolulu, Hawaii.Show more

Net Interest Income $211M +0.8%
Total Revenue $340M +6.5%
Net Income $53M -9.0%
Return on Equity 10.25% -16.4%
Net Interest Margin 2.83% +3.1%
Efficiency Ratio 49.47% +2.1%
ROA 0.71% -9.2%
Equity / Assets 7.21% +9.3%
Book Value per Share 19.80 +6.4%
Tangible BV/Share 19.49 +6.6%
Debt/Equity 0.35 -5.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 49.5% efficiency ratio
✓Healthy dividend yield of 3.2%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.98%

5Y5.69%

3Y9.43%

TTM-

Profit (Net Income) CAGR

10Y2.82%

5Y-1.74%

3Y-12.56%

TTM15.84%

EPS CAGR

10Y6.29%

5Y-0.6%

3Y-11.37%

TTM16.19%

ROCE

10Y Avg11%

5Y Avg10.51%

3Y Avg10.83%

Latest8.54%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	608.64M	18.83	85.59	45.45%	2.94%	11.23%	8.17%	0.17
CWBCCommunity West Bancshares	447.97M	23.38	51.96	51.89%	4.67%	6.95%	3.83%	0.56
GBCIGlacier Bancorp, Inc.	6.29B	48.39	28.80	11.64%	15.27%	6.57%	3.34%	1.18
GBFHGBank Financial Holdings Inc.	465.21M	32.36	23.28	2%	30.99%	11.8%	5.65%	0.22
BOHBank of Hawaii Corporation	2.86B	71.86	20.77	6.6%	14.57%	10.28%	5.9%	0.45
HFWAHeritage Financial Corporation	867.93M	25.56	20.61	4.64%	13.64%	6.33%	7.03%	0.47
HTBKHeritage Commerce Corp	786.28M	12.82	19.42	3.35%	16.12%	6.19%	4.75%	0.06
NRIMNorthrim BanCorp, Inc.	640.63M	29.00	17.47	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	149.41M	157.73M	167.53M	172.72M	183.05M	197.13M	210.73M	215.17M	209.52M	211.22M
NII Growth %	0.04%	0.06%	0.06%	0.03%	0.06%	0.08%	0.07%	0.02%	-0.03%	0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	155.91M	166.92M	182.39M	198.02M	215.36M	211.87M	218.44M	232.26M	282.18M	305.59M
Interest Expense	6.51M	9.19M	14.86M	25.3M	32.31M	14.73M	7.71M	17.09M	72.66M	94.37M
Loan Loss Provision	-15.67M	-7.09M	-3.14M	-2.12M	6.35M	42.11M	-14.85M	-1.55M	15.26M	9.64M
Non-Interest Income+	34.34M	33.99M	32.2M	34.12M	42.83M	45.75M	41.42M	44.78M	37.45M	34.89M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	190.26M	200.91M	214.58M	232.13M	258.18M	257.62M	259.86M	277.04M	319.63M	340.48M
Revenue Growth %	-0%	0.06%	0.07%	0.08%	0.11%	-0%	0.01%	0.07%	0.15%	0.07%
Non-Interest Expense	126.46M	125.54M	127.06M	130.71M	141.6M	151.74M	161.34M	162.73M	154.89M	168.44M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	72.96M	73.27M	75.8M	78.24M	77.93M	49.03M	105.65M	98.77M	76.82M	68.04M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.2%	0%	0.03%	0.03%	-0%	-0.37%	1.15%	-0.07%	-0.22%	-0.11%
Pretax Income+	72.96M	73.27M	75.8M	78.24M	77.93M	49.03M	105.65M	98.77M	76.82M	68.04M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	27.09M	26.27M	34.6M	18.76M	19.61M	11.76M	25.76M	24.84M	18.15M	14.63M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	45.87M	46.99M	41.2M	59.49M	58.32M	37.27M	79.89M	73.93M	58.67M	53.41M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.13%	0.02%	-0.12%	0.44%	-0.02%	-0.36%	1.14%	-0.07%	-0.21%	-0.09%
Net Income (Continuing)	45.87M	46.99M	41.2M	59.49M	58.32M	37.27M	79.89M	73.93M	58.67M	53.41M
EPS (Diluted)+	1.40	1.50	1.34	2.01	2.03	1.32	2.83	2.68	2.17	1.97
EPS Growth %	0.31%	0.07%	-0.11%	0.5%	0.01%	-0.35%	1.14%	-0.05%	-0.19%	-0.09%
EPS (Basic)	1.42	1.52	1.36	2.02	2.05	1.33	2.85	2.70	2.17	1.97
Diluted Shares Outstanding	32.65M	31.23M	30.64M	29.61M	28.68M	28.18M	28.26M	27.57M	27.08M	27.2M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	80.19M	84.34M	82.29M	102.19M	102.97M	104.07M	328.91M	112.04M	522.44M	380.94M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	4.69B	4.97B	5.24B	5.41B	5.56B	6.11B	6.7B	6.88B	6.7B	6.67B
Investments Growth %	0.08%	0.06%	0.05%	0.03%	0.03%	0.1%	0.1%	0.03%	-0.03%	-0%
Long-Term Investments	3.42B	3.72B	3.94B	4.2B	4.43B	4.93B	5.07B	6.2B	6.05B	6.12B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	25.15M	20.46M	17.85M	15.6M	14.72M	11.87M	9.74M	9.07M	8.7M	8.47M
PP&E (Net)	49.16M	48.26M	48.35M	45.28M	98.69M	111.14M	119.8M	126.62M	125.9M	135.17M
Other Assets	273.23M	246.96M	217.96M	221.04M	223.91M	235.83M	245.48M	288.53M	266.33M	257.8M
Total Current Assets	1.37B	1.34B	1.4B	1.32B	1.25B	1.31B	1.98B	804.18M	1.19B	948.17M
Total Non-Current Assets	3.76B	4.04B	4.22B	4.48B	4.77B	5.29B	5.44B	6.63B	6.45B	6.52B
Total Assets+	5.13B	5.38B	5.62B	5.81B	6.01B	6.59B	7.42B	7.43B	7.64B	7.47B
Asset Growth %	0.06%	0.05%	0.04%	0.03%	0.04%	0.1%	0.13%	0%	0.03%	-0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	4.74M	18.95M	10.05M
Total Debt+	161.78M	227.78M	124.78M	319.17M	304.18M	174.58M	146.35M	146.75M	186.74M	188.37M
Net Debt	81.59M	143.44M	42.49M	216.98M	201.21M	70.51M	-182.56M	34.7M	-335.7M	-192.57M
Long-Term Debt	92.78M	92.78M	92.78M	122.17M	101.55M	105.39M	105.62M	105.86M	156.1M	156.34M
Short-Term Debt	69M	135M	32M	197M	150M	22M	0	5M	0	0
Other Liabilities	41.42M	43.58M	42.53M	49.65M	59.95M	77.16M	75.32M	92.18M	85.7M	91.28M
Total Current Liabilities	4.5B	4.74B	4.99B	5.14B	5.27B	5.82B	6.64B	6.75B	6.87B	6.65B
Total Non-Current Liabilities	134.21M	136.36M	135.32M	171.81M	214.13M	229.73M	221.66M	233.93M	272.44M	279.65M
Total Liabilities	4.64B	4.88B	5.12B	5.32B	5.48B	6.05B	6.86B	6.98B	7.14B	6.93B
Total Equity+	494.64M	504.68M	500.04M	491.73M	528.52M	546.73M	558.27M	452.87M	503.81M	538.38M
Equity Growth %	-0.13%	0.02%	-0.01%	-0.02%	0.07%	0.03%	0.02%	-0.19%	0.11%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.09%	0.08%	0.12%	0.11%	0.07%	0.14%	0.15%	0.12%	0.1%
Book Value per Share	15.15	16.16	16.32	16.61	18.43	19.40	19.76	16.43	18.60	19.80
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	548.88M	530.93M	503.99M	470.66M	447.6M	442.63M	426.09M	408.07M	405.44M	404.49M
Additional Paid-in Capital	82.85M	84.18M	86.1M	88.88M	91.61M	94.84M	98.07M	101.35M	102.98M	105.05M
Retained Earnings	-137.31M	-108.94M	-89.04M	-51.72M	-19.1M	-10.92M	42.02M	87.44M	117.99M	143.26M
Accumulated OCI	203K	-1.52M	-1.04M	-16.09M	8.41M	20.13M	-7.96M	-143.98M	-122.6M	-114.42M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	74.5M	76.48M	96.78M	103.49M	72.19M	76.79M	110.49M	114.12M	105.11M	90.52M
Operating CF Growth %	0.04%	0.03%	0.27%	0.07%	-0.3%	0.06%	0.44%	0.03%	-0.08%	-0.14%
Net Income	45.87M	46.99M	41.2M	59.49M	58.32M	37.27M	79.89M	73.93M	58.67M	53.41M
Depreciation & Amortization	12.73M	13.79M	11.4M	10.15M	8.6M	12.39M	10.45M	8.16M	7.65M	9.12M
Deferred Taxes	26.08M	24.43M	32.21M	7.87M	-3.96M	-13.09M	10.83M	25.81M	11.21M	8.77M
Other Non-Cash Items	-8.37M	-14.86M	25.7M	20.78M	7.69M	39.87M	3.74M	-8.76M	10.23M	12.86M
Working Capital Changes	-4.94M	4.8M	-15.65M	2.42M	-1.19M	-2.88M	2.35M	11.71M	15.71M	4.29M
Cash from Investing+	-315.14M	-277.22M	-296.13M	-211.14M	-128.97M	-596.95M	-662.3M	-384.48M	179.66M	654K
Purchase of Investments	-381.81M	-197.1M	-356.89M	-85.37M	-55.01M	-589.45M	-1.07B	-119.35M	-49.04M	-272.4M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-5K	-114K	-3.3M	-1.22M	-8.44M	-2.91M	0	0	0
Other Investing	-237.03M	-309.63M	-241.84M	-315.87M	-374.11M	-504.35M	-135.88M	-456.89M	112.18M	92.53M
Cash from Financing+	234.82M	204.88M	197.29M	127.55M	57.57M	521.25M	776.65M	53.5M	125.62M	-232.67M
Dividends Paid	-26.14M	-18.62M	-21.3M	-24.14M	-25.71M	-25.93M	-26.96M	-28.5M	-28.12M	-28.14M
Share Repurchases	-93.53M	-18.21M	-26.56M	-32.82M	-22.79M	-4.75M	-18.67M	-20.74M	-2.63M	-945K
Stock Issued	360K	941K	0	0	151K	0	1.24M	679K	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	0
Other Financing	323.14M	174.76M	348.15M	-9.86M	173.53M	676.1M	843.04M	97.06M	111.37M	-203.58M
Net Change in Cash+	-5.81M	4.15M	-2.05M	19.89M	786K	1.09M	224.84M	-216.86M	410.39M	-141.5M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	86.01M	80.19M	84.34M	82.29M	102.19M	102.97M	104.07M	328.91M	112.04M	522.44M
Cash at End	80.19M	84.34M	82.29M	102.19M	102.97M	104.07M	328.91M	112.04M	522.44M	380.94M
Interest Paid	6.45M	8.71M	12.72M	23.94M	33.07M	17.3M	8.32M	13.48M	58.45M	103.26M
Income Taxes Paid	1.64M	0	8.4M	23K	24.1M	20.04M	22.67M	5.58M	7.31M	0
Free Cash Flow+	68.69M	70.59M	90.25M	100.26M	65M	50.8M	88.33M	95.68M	92.46M	75.43M
FCF Growth %	0.05%	0.03%	0.28%	0.11%	-0.35%	-0.22%	0.74%	0.08%	-0.03%	-0.18%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.63%	9.4%	8.2%	12%	11.43%	6.93%	14.46%	14.62%	12.26%	10.25%
Return on Assets (ROA)	0.92%	0.89%	0.75%	1.04%	0.99%	0.59%	1.14%	1%	0.78%	0.71%
Net Interest Margin	2.91%	2.93%	2.98%	2.97%	3.04%	2.99%	2.84%	2.89%	2.74%	2.83%
Efficiency Ratio	66.47%	62.49%	59.21%	56.31%	54.85%	58.9%	62.09%	58.74%	48.46%	49.47%
Equity / Assets	9.64%	9.37%	8.89%	8.47%	8.79%	8.29%	7.52%	6.09%	6.59%	7.21%
Book Value / Share	15.15	16.16	16.32	16.61	18.43	19.4	19.76	16.43	18.6	19.8
NII Growth	4.23%	5.57%	6.21%	3.1%	5.98%	7.7%	6.9%	2.11%	-2.63%	0.81%
Dividend Payout	57%	39.62%	51.69%	40.59%	44.08%	69.58%	33.74%	38.56%	47.92%	52.69%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Other Service Charges and Fees	11.08M	12.44M	11.62M	15.28M	16.58M	20.53M	22.55M
Other Service Charges and Fees Growth	-	12.25%	-6.55%	31.49%	8.51%	23.82%	9.85%
Service Charges on Deposit Accounts	8.41M	8.41M	6.23M	6.36M	8.2M	8.75M	8.66M
Service Charges on Deposit Accounts Growth	-	0.00%	-25.84%	1.99%	28.92%	6.78%	-1.11%
Income from Bank-owned Life Insurance	-	-	-	-	-	-	6.62M
Income from Bank-owned Life Insurance Growth	-	-	-	-	-	-	-
Income from Fiduciary Activities	4.25M	4.39M	4.83M	5.08M	4.57M	4.89M	5.76M
Income from Fiduciary Activities Growth	-	3.53%	9.87%	5.09%	-10.05%	7.23%	17.69%
Mortgage Banking Income	-	-	1.13M	1.99M	1.06M	2.59M	3.39M
Mortgage Banking Income Growth	-	-	-	76.68%	-46.81%	144.53%	30.71%
Other	-	-	-	-	-	9.89M	1.68M
Other Growth	-	-	-	-	-	-	-83.02%
Net Gain (Loss) on Sale of Foreclosed Assets	747K	-145K	-15K	-	-	-	-
Net Gain (Loss) on Sale of Foreclosed Assets Growth	-	-119.41%	89.66%	-	-	-	-
Loan Placement Fees	110K	702K	-	-	-	-	-
Loan Placement Fees Growth	-	538.18%	-	-	-	-	-
Fees on Foreign Exchange	-	101K	-	-	-	-	-
Fees on Foreign Exchange Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Central Pacific Financial Corp. (CPF) has a price-to-earnings (P/E) ratio of 16.4x. This is roughly in line with market averages.

Growth & Financials

Central Pacific Financial Corp. (CPF) grew revenue by 6.5% over the past year. This is steady growth.

Yes, Central Pacific Financial Corp. (CPF) is profitable, generating $66.0M in net income for fiscal year 2024 (15.7% net margin).

Dividend & Returns

Yes, Central Pacific Financial Corp. (CPF) pays a dividend with a yield of 3.20%. This makes it attractive for income-focused investors.

Central Pacific Financial Corp. (CPF) has a return on equity (ROE) of 10.2%. This is reasonable for most industries.

Industry Metrics

Central Pacific Financial Corp. (CPF) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

Central Pacific Financial Corp. (CPF) has an efficiency ratio of 49.5%. This is excellent, indicating strong cost control.

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