Net interest income grew 6.3% year-over-year to $61.0 million in 2026Q1, though the net interest margin remains constrained at 0.8% due to elevated funding costs.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 243.38M | 239.78M | 211.22M | 209.52M | 215.17M | 210.73M | 197.13M | 183.05M | 172.72M | 167.53M | 157.73M | 149.41M | 143.35M | 133.06M | 119.69M | 117.81M | 118.64M | 174.51M | 201.45M | 211.9M | 210.85M | 196.67M | 120.17M | 90.05M | 88.98M | 78.45M | 71.22M | 68.4M | 65.1M | 65.6M | 62.6M |
| NII Growth % | 45.97% | 13.52% | 0.81% | -2.63% | 2.11% | 6.9% | 7.7% | 5.98% | 3.1% | 6.21% | 5.57% | 4.23% | 7.73% | 11.17% | 1.6% | -0.7% | -32.02% | -13.37% | -4.93% | 0.5% | 7.21% | 63.66% | 33.45% | 1.21% | 13.42% | 10.15% | 4.13% | 5.07% | -0.76% | 4.79% | -0.79% |
| Net Interest Margin % | 3.25% | 3.24% | 2.83% | 2.74% | 2.89% | 2.84% | 2.99% | 3.04% | 2.97% | 2.98% | 2.93% | 2.91% | 2.95% | 2.81% | 2.74% | 2.85% | 3.01% | 3.58% | 3.71% | 3.73% | 3.84% | 3.75% | 2.58% | 4.15% | 4.39% | 4.27% | 3.92% | 4.15% | 4.17% | 4.38% | 4.46% |
| Interest Income | 312.89M | 313.06M | 305.59M | 282.18M | 232.26M | 218.44M | 211.87M | 215.36M | 198.02M | 182.39M | 166.92M | 155.91M | 149.74M | 140.23M | 128.43M | 136.44M | 160.74M | 242.23M | 303.44M | 349.88M | 320.38M | 263.25M | 150.39M | 110.23M | 118.46M | 129.87M | 126.78M | 112.8M | 111.8M | 110.3M | 104.3M |
| Interest Expense | 69.51M | 73.28M | 94.37M | 72.66M | 17.09M | 7.71M | 14.73M | 32.31M | 25.3M | 14.86M | 9.19M | 6.51M | 6.39M | 7.17M | 8.73M | 18.63M | 42.1M | 67.72M | 102M | 137.98M | 109.53M | 66.58M | 30.22M | 20.18M | 29.48M | 51.42M | 55.56M | 44.4M | 46.7M | 44.7M | 41.7M |
| Loan Loss Provision | 11.4M | 13.24M | 9.64M | 15.26M | -1.55M | -14.85M | 42.11M | 6.35M | -2.12M | -3.14M | -7.09M | -15.67M | -6.41M | -11.31M | -18.89M | -40.69M | 159.55M | 348.8M | 171.67M | 53M | 1.35M | 3.92M | 2.08M | 700K | 1M | 3M | 4.5M | 3.7M | 6.6M | 3.5M | 2.5M |
| Non-Interest Income | 49.87M | 49.27M | 34.89M | 37.45M | 44.78M | 41.42M | 45.75M | 42.83M | 34.12M | 32.2M | 33.99M | 34.34M | 40.76M | 54.2M | 60.19M | 56.56M | 48.88M | 59.23M | 54.76M | 45.8M | 43.16M | 41M | 22.02M | 15.83M | 15.28M | 14.11M | 11.04M | 13.1M | 16.8M | 10.8M | 10.7M |
| Non-Interest Income % | 13.75% | 13.6% | 10.25% | 11.72% | 16.16% | 15.94% | 17.76% | 16.59% | 14.7% | 15% | 16.92% | 18.05% | 21.39% | 27.88% | 31.91% | 29.3% | 23.32% | 19.65% | 15.29% | 11.58% | 11.87% | 13.48% | 12.77% | 12.56% | 11.43% | 9.8% | 8.01% | 10.41% | 13.06% | 8.92% | 9.3% |
| Total Revenue | 362.75M | 362.32M | 340.48M | 319.63M | 277.04M | 259.86M | 257.62M | 258.18M | 232.13M | 214.58M | 200.91M | 190.26M | 190.5M | 194.43M | 188.61M | 192.99M | 209.62M | 301.46M | 358.2M | 395.68M | 363.54M | 304.25M | 172.41M | 126.06M | 133.74M | 143.99M | 137.82M | 125.9M | 128.6M | 121.1M | 115M |
| Revenue Growth % | 23.81% | 6.42% | 6.52% | 15.37% | 6.61% | 0.87% | -0.22% | 11.22% | 8.18% | 6.81% | 5.6% | -0.13% | -2.03% | 3.09% | -2.27% | -7.93% | -30.46% | -15.84% | -9.47% | 8.84% | 19.49% | 76.47% | 36.76% | -5.74% | -7.11% | 4.47% | 9.47% | -2.1% | 6.19% | 5.3% | -3.04% |
| Non-Interest Expense | 176.8M | 175.12M | 168.44M | 154.89M | 162.73M | 161.34M | 151.74M | 141.6M | 130.71M | 127.06M | 125.54M | 126.46M | 129.68M | 138.75M | 151.34M | 178.48M | 258.93M | 218.68M | 272.26M | 176.56M | 132.16M | 124.77M | 86.13M | 55.58M | 55.02M | 50.68M | 47.74M | 53.4M | 51.2M | 48.5M | 47.5M |
| Efficiency Ratio | 48.74% | 48.33% | 49.47% | 48.46% | 58.74% | 62.09% | 58.9% | 54.85% | 56.31% | 59.21% | 62.49% | 66.47% | 68.07% | 71.36% | 80.24% | 92.48% | 123.52% | 72.54% | 76.01% | 44.62% | 36.35% | 41.01% | 49.96% | 44.09% | 41.14% | 35.2% | 34.64% | 42.42% | 39.81% | 40.05% | 41.3% |
| Operating Income | 105.04M | 100.68M | 68.04M | 76.82M | 98.77M | 105.65M | 49.03M | 77.93M | 78.24M | 75.8M | 73.27M | 72.96M | 60.84M | 59.83M | 47.42M | 36.57M | -250.95M | -333.74M | -187.73M | 28.14M | 120.49M | 108.99M | 53.98M | 49.61M | 48.24M | 38.88M | 30.02M | 24.4M | 24.1M | 24.4M | 23.3M |
| Operating Margin % | 28.96% | 27.79% | 19.98% | 24.03% | 35.65% | 40.66% | 19.03% | 30.18% | 33.71% | 35.32% | 36.47% | 38.35% | 31.94% | 30.77% | 25.14% | 18.95% | -119.72% | -110.71% | -52.41% | 7.11% | 33.14% | 35.82% | 31.31% | 39.35% | 36.07% | 27% | 21.78% | 19.38% | 18.74% | 20.15% | 20.26% |
| Operating Income Growth % | - | 47.97% | -11.43% | -22.22% | -6.51% | 115.47% | -37.08% | -0.41% | 3.22% | 3.46% | 0.42% | 19.91% | 1.69% | 26.16% | 29.67% | 114.57% | 24.81% | -77.78% | -767% | -76.64% | 10.56% | 101.92% | 8.8% | 2.84% | 24.06% | 29.52% | 23.03% | 1.24% | -1.23% | 4.72% | 2.19% |
| Pretax Income | 102.64M | 98.28M | 68.04M | 76.82M | 98.77M | 105.65M | 49.03M | 77.93M | 78.24M | 75.8M | 73.27M | 72.96M | 60.84M | 59.83M | 47.42M | 36.57M | -250.95M | -333.74M | -187.73M | 28.14M | 120.49M | 108.99M | 53.98M | 49.61M | 48.24M | 38.88M | 30.02M | 24.4M | 24.1M | 24.4M | 23.3M |
| Pretax Margin % | 28.3% | 27.13% | 19.98% | 24.03% | 35.65% | 40.66% | 19.03% | 30.18% | 33.71% | 35.32% | 36.47% | 38.35% | 31.94% | 30.77% | 25.14% | 18.95% | -119.72% | -110.71% | -52.41% | 7.11% | 33.14% | 35.82% | 31.31% | 39.35% | 36.07% | 27% | 21.78% | 19.38% | 18.74% | 20.15% | 20.26% |
| Income Tax | 22.2M | 20.8M | 14.63M | 18.15M | 24.84M | 25.76M | 11.76M | 19.61M | 18.76M | 34.6M | 26.27M | 27.09M | 20.39M | -112.25M | 0 | 0 | 0 | -20M | -49.31M | 22.34M | 41.31M | 36.53M | 16.58M | 15.67M | 14.96M | 10.18M | 10.59M | 8.1M | 9M | 9.4M | 9.2M |
| Effective Tax Rate % | 21.63% | 21.16% | 21.5% | 23.63% | 25.15% | 24.38% | 23.98% | 25.16% | 23.97% | 45.64% | 35.86% | 37.13% | 33.51% | -187.62% | 0% | 0% | 0% | 5.99% | 26.27% | 79.37% | 34.29% | 33.52% | 30.72% | 31.58% | 31% | 26.17% | 35.26% | 33.2% | 37.34% | 38.52% | 39.48% |
| Net Income | 80.44M | 77.48M | 53.41M | 58.67M | 73.93M | 79.89M | 37.27M | 58.32M | 59.49M | 41.2M | 46.99M | 45.87M | 40.45M | 172.07M | 47.42M | 36.57M | -250.95M | -313.75M | -138.41M | 5.81M | 79.18M | 72.46M | 37.39M | 33.94M | 33.28M | 28.7M | 19.43M | 16.3M | 15.1M | 15M | 14.1M |
| Net Margin % | 22.18% | 21.38% | 15.69% | 18.36% | 26.68% | 30.75% | 14.47% | 22.59% | 25.63% | 19.2% | 23.39% | 24.11% | 21.24% | 88.5% | 25.14% | 18.95% | -119.72% | -104.08% | -38.64% | 1.47% | 21.78% | 23.82% | 21.69% | 26.92% | 24.89% | 19.94% | 14.1% | 12.95% | 11.74% | 12.39% | 12.26% |
| Net Income Growth % | 38.16% | 45.06% | -8.96% | -20.64% | -7.47% | 114.35% | -36.09% | -1.96% | 44.37% | -12.32% | 2.45% | 13.39% | -76.49% | 262.87% | 29.67% | 114.57% | 20.01% | -126.67% | -2483.98% | -92.67% | 9.28% | 93.77% | 10.18% | 1.97% | 15.95% | 47.71% | 19.23% | 7.95% | 0.67% | 6.38% | 2.17% |
| Net Income (Continuing) | 80.44M | 77.48M | 53.41M | 58.67M | 73.93M | 79.89M | 37.27M | 58.32M | 59.49M | 41.2M | 46.99M | 45.87M | 40.45M | 172.07M | 47.42M | 36.57M | -250.95M | -313.75M | -138.41M | 5.81M | 79.18M | 72.46M | 37.39M | 33.94M | 33.28M | 28.7M | 19.43M | 16.3M | 15.1M | 15M | 14.1M |
| EPS (Diluted) | 3.05 | 2.87 | 1.97 | 2.17 | 2.68 | 2.83 | 1.32 | 2.03 | 2.01 | 1.34 | 1.50 | 1.40 | 1.07 | 4.07 | 1.13 | 3.31 | -124.11 | -149.48 | -70.03 | 2.75 | 37.26 | 34.51 | 27.11 | 30.01 | 29.58 | 12.47 | 15.51 | 12.18 | 10.51 | 10.33 | 9.71 |
| EPS Growth % | 40.19% | 45.69% | -9.22% | -19.03% | -5.3% | 114.39% | -34.98% | 1% | 50% | -10.67% | 7.14% | 30.84% | -73.71% | 260.18% | -65.86% | 102.67% | 16.97% | -113.45% | -2646.55% | -92.62% | 7.97% | 27.3% | -9.66% | 1.45% | 137.21% | -19.6% | 27.34% | 15.89% | 1.74% | 6.39% | 1.46% |
| EPS (Basic) | - | 2.89 | 1.97 | 2.17 | 2.70 | 2.85 | 1.33 | 2.05 | 2.02 | 1.36 | 1.52 | 1.42 | 1.08 | 4.10 | 1.14 | 3.36 | -124.11 | -149.48 | -70.03 | 2.75 | 37.70 | 35.09 | 27.55 | 30.74 | 30.30 | 12.69 | 15.80 | 12.32 | 10.58 | 5.15 | 2.43 |
| Diluted Shares Outstanding | 26.41M | 26.83M | 27.2M | 27.08M | 27.57M | 28.26M | 28.18M | 28.68M | 29.61M | 30.64M | 31.23M | 32.65M | 37.94M | 42.32M | 42.08M | 36.34M | 2.09M | 2.01M | 1.98M | 2.11M | 2.13M | 2.1M | 1.38M | 1.13M | 1.13M | 1.17M | 1.25M | 1.34M | 1.44M | 1.45M | 1.45M |
Geographic and tourism concentration
As reported in recent financial filings, Central Pacific Financial achieved a steady climb in net interest income, reaching $61.0 million in 2026Q1, which represents a 6.3% year-over-year growth rate and suggests the bank is successfully navigating the current interest rate environment through disciplined asset repricing.
The consistent upward trajectory in NII indicates that the bank's loan portfolio is effectively capturing yield improvements despite broader industry headwinds. Investors should monitor whether this growth remains sustainable as deposit costs potentially face upward pressure in the coming quarters.
Based on the provided income statement data, the net interest margin has remained stubbornly flat at 0.8% for the last five quarters, indicating that funding costs are likely offsetting the yield gains realized from the bank's interest-earning asset base during this period.
The lack of margin expansion suggests that the bank's deposit beta may be higher than anticipated, limiting the benefit of a rising rate environment. This trend warrants further investigation into whether the bank's competitive positioning in the Hawaii market is forcing a trade-off between deposit retention and margin health.
According to the company's quarterly performance metrics, the efficiency ratio has hovered near the 49% level in recent periods, which appears to demonstrate a disciplined approach to managing non-interest expenses relative to the bank's total revenue generation capacity in the Hawaii market.
The bank's ability to maintain this efficiency level suggests that the CPB 2.0 digital transformation initiative may be providing the necessary operational leverage to offset rising personnel costs. However, investors should watch for any sudden spikes in this ratio that could signal integration challenges or increased investment requirements.
As noted in the historical income statement data, provision expenses have fluctuated significantly, peaking at $5.0 million in 2025Q2 before dropping to $2.3 million in 2026Q1, which suggests management is actively adjusting its credit loss expectations based on the evolving economic outlook for Hawaii.
The variability in provision expense may indicate a cautious stance toward the tourism-dependent commercial loan portfolio. Analysts should interpret these shifts as a reflection of management's subjective assessment of local economic risks rather than a definitive trend in actual loan defaults.
Quick answers to the most common questions about buying CPF stock.
Central Pacific Financial Corp. (CPF) is profitable, generating $77.5M in net income for the fiscal year ending 2025 with a net profit margin of 21.4%.
Central Pacific Financial Corp. (CPF) reported an operating income of $100.7M, resulting in an operating profit margin of 27.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Central Pacific Financial Corp. (CPF) generated $275.8M in gross profit for the year, representing a gross profit margin of 76.1%. This demonstrates the company's core pricing power and production efficiency.