FHB - Earnings call transcript Q2 2021

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Operator

Good day, and thank you for standing by. Welcome to the First Hawaiian Inc. Quarter 2 2021 Earnings Conference Call [Operator Instructions]. I would now like to hand the conference over to your first speaker for today, Investor Relations Manager, Kevin Haseyama. Thank you. ahead. go Please

Kevin Haseyama

President And we Anne. quarter everyone, joining Risk Harrison, for XXXX. and Mallela, Thank Mesick, Ralph our thank financial as Chief Chairman, Bob are review me second CEO; results us Ravi With CFO; you, Officer. today you, and for of the

section. our that the We presentation downloading for is presentation refer Web at in in we on fhb.com site prepared Relations have slide our to Investor available and will a remarks The viewing today.

today's be for comparable please safe to I'll now also During will presentation refer of non-GAAP to measures. call harbor Bob. the may contains turn so we forward-looking statements, this these financial financial call, making We appendix measurements. non-GAAP Slide our discuss over directly measurements GAAP And to reconciliations most The to X certain statement. the

Bob Harrison

thanks you, the update joining for us morning, today. of quick X State the Good Hawaii. Slide Thank like a on start is in Kevin. with and to I'd This deck.

see to in July in XXX% are pre-pandemic Mainland a increase continue when travel on further vaccinated We Xth and eased US. almost individuals from without the were were housing starting market unemployment to remains strong. the to levels being Mainland month economy the on and X.X% XX low visitor approaching transpacific with fell arrivals a Restrictions also pre-travel in The enter to recover US test. Hawaii rate COVID steady the allowed continues as June, a

according and by we increases of governor. at XX% positivity point, are are rest new which have the expected closely be which authorities We restrictions test are make country, monitoring. the to cases the in the the of all continuing to statements vaccinated, recently rate, population seen to towards removed the having Similar of progress COVID goal to

briefly over Slide our to I'll X, results. quarter Turning second go

remained Deposit impact paydowns deposits. to of excellent. income We the loan be driven PPP broad share. quality with the Total Diluted pickup excluding categories. $X.XX commercial We Board good by $XXX $X.XX activity, in maintained consumer a rebound at coming noninterest by EPS very in have grew was deposit and while growth, in growth million, continued based loan a a multiple saw dividend credit quarter. the strong loans per growth and

We stock share also of repurchased program. million to to turn the go now common over current it $XX.X I'll repurchase under Ravi financials. the And over

Ravi Mallela

Bob. Thanks,

the Slide PPP loans leases to were billion, X. Turning Period balances $XXX from $XX.X end end QX. down $XXX and million. declined of million

declined million balances. balances, PPP due flooring Excluding C&I decrease $XXX by million, $XXX in dealer to primarily

impacts the commercial or loans were second forgiveness flooring dealer pleased We many real in PPP the see categories, total including and quarter Excluding growth of we balances, grew X.X% year construction the good million to is digit this quarter. low $XXX loan and full growing $XXX growth estate, by The building million. our loans, excluding that single pipeline range. will PPP loan view and over residential each reiterate be in in

and increase commercial the million quarter. to deposits. X. in driven balances by consumer partially increase $XX million This Turning by Total ended $XXX quarter was the decrease deposits billion, $XX.X Slide prior million a $XXX at in versus and offset deposit public

Our cost basis point fell basis points the in to of deposits X X quarter.

compression. points investment about margin X due prior interest versus basis X. liability X.XX%, basis repricing from time of rates a increase of asset contributed $X.X deposits. while to increase point previous was basis interest excess liquidity decrease and income primarily balances on and income points $XXX.X compression, about NIM Core quarter. caused Net the X and quarter. million, interest X million was was average securities additional Net net higher Slide to a the in of lower Turning The balances

net due NIM consider reminder, currently was by QX, and quarter, to the to PPP impact excess The X the balance in $XXX higher our X excluding loan liquidity margin prior forgiveness, decline margin over of versus loans basis the higher decline which as income forgiven points. interest net points. balances In a million. basis PPP of X interest by liquidity about excess to we partially Just increased offset we expect

than million, the Turning $X were was quarter. expenses, to which million income year-to-date by The our was $X.X and in this a expenses and was about million Slide On $XXX,XXX higher $X.X service higher increase million a a increased QX in onetime quarter. of Noninterest and $X.X primarily the same in over was $XX.X are merchant X. was incentives ratio sales last and card activity. a customers. to contributed Noninterest BOLI increase higher million, $X.X approximately from total by and million The quarter. than basis, income commercial salaries million remaining which Swap driven efficiency the nice and rewards Other previous in onetime fees was year. higher $XX.X charges fees the driven was income running million, X.X% interchange, increase to generated charge million benefits trust The $X.X paid higher in quarter. XX.X%. previous card Noninterest $X.X of services in the credit by increase increased expenses this by driven $XXX,XXX quarter. increase period increased which due fees debit

XXXX. expenses to year about to higher now to over And quality. X% it go full Ralph than in However, turn expect we I'll asset continue over be

Ralph Mesick

Thank you, Ravi.

Slide on to turn credit. a make I'll could few X, comments you If

were well recovery the the quality million quarter. recorded strong the $X.X $X.X Asset in offs is up the tourists. the a and of to prior underway with return Mainland continues below for QX, In million, charge hold quarter net

dropping as prior XX from quarter rate quarter. X.XX% net X QX. Bank basis XX the past a decline and of points than end recorded declined provision points. the points marginally to to X the in is due this negative quarter at basis to annualized days Criticized loans past for Loans QX well, in significantly to with point charge-off levels decrease from total lower XX of X basis basis XXXX assets due XXXX. to million year-to-date NPAs at loans day points, XX Our $XX and a X.XX% in down XX basis QX. continued were the

Moving credit quality. recorded net I'll a over provision the the in negative with to forward quarter portfolio Slide more the The segments. million this we the for $XXX.X to And which $XX.X roll $XX to and X.XX% allowance turn loans loans. and by X.XX% decreased of million of the quarter came that, call The improvement allowance all PPP X, you by Bob. is see outlook disclosure on optimistic of million, a

Bob Harrison

Thanks, Ralph.

and new to will Thompson Kelly of Their planning, areas the the two in seen Jim Board, we provide you e-commerce the week our of directors Finally, guidance insight to and the may addition risk have digital execute last and Moffat. valuable strategic as expertise announcement transformation. technology, management combined

mobile introduced are such well last Web a party of increased engagement. redesigned we improvements financial site have highlights. as number new and the of includes As I features our longer higher Web staying mentioned fhb.com app as received third been has The and they site a on and our banking that levels call, with visitors account integration personal to

being offering. financial increase year We the new third users to take seen management XXXX. your for the previous mention questions. I be the our we'd our back in of versus also first XXX% have pushed our conversion quarter with an And active of tool, is want initially part that personal this core to also Money happy to Map over that, targeted for

Operator

We Instructions] line from of [Operator question from J.P. have first Morgan. our the Steven Alexopoulos

Steven Alexopoulos

for US of as so start, much loan seen Bob, to companies, the growth deposit but at strong for been parts been banks we've wanted great not reopen, growth. has other for sales have I increased so which

or comes loan portfolio? need should impact this guidance? to And you can online, up digit to the us As Hawaii through low what do increasingly the how see back move walk single from really could we

Bob Harrison

The Residential is been exception this we commercial What real expecting with the Hawaii in we're a the has in to growth Mainland of we somewhat I strong projects see the has as calls on call, seeing coming talked growth we're the loan about, later, have believe, are the started first Hawaii runoff. in the of very of of last been certainly have loan ahead in to couple that's of Mainland parts and what well. we and residential. it see here the last maybe is as staying the number in construction and on ongoing estate The that challenge as is the Hawaii country. here many is then and

to cars and money, has work we will we're going gets to forward, the more when we've on started, there activity spending see, little recovery a loan credit follow side, in lending look numbers consumer people back we a there's As be area, will think are as to that more the Hawaii cards indirect really seen purchase.

on, will that businesses and things the their then well. doing to that we'll some first go the money see. have managing high think they these kind run And as of and through I see back deposit we'll borrowing be balances later

So a little that recovery starts. the after while will take

Steven Alexopoulos

on you one of for right, know more have my guys. don't prices this. any think you're know benefit land with you want development. were supply, given I there X for involved slide I issues more in up the about tough Bob, was give been side? where XX% more which the that And just there of talked caught to on over I one thing way, in locals calls home I price the But increase, up eye markets. traction some Are would the Is zoning

Bob Harrison

in it complicated a topic as that's is cities. Yes, many very

focused the the take thing certainly and the of are the government market. people the local out first on I just county because on focused level better managing that of think does Airbnb are supply BRBO a lot

the to on, counties first certainly focused many on in here here very Oahu extent, lesser Hawaii that's think and I in Maui. are a on step

that you've next some their [Technical whole accelerating of thing is Ridge projects plans. large seen time development the Difficulty] approved were couple a ago, So

in And So so also push those that given trying then are about high that that on strongly. Oahu number lastly, the a seeing strong, been here talked to interest we projects residential ahead. have are of that market continued condominiums ahead they're rise moving is

that helps. So all together

looking zoning Looking of for process have topic. ag a term at land our the longer way at changing we to how that's reform urban, and

Steven Alexopoulos

Maybe a final question Ravi. for

bit this securities of rates, on On given here down able this the of the you quarter. I'm to And do growth appetite curious you quarter? a the in yield quite an less bit again you to step continue in of a add what's book, what saw were adding? have a

Ravi Mallela

$XXX volume the to around at of new we're buying. rates duration of coming $XXX have been in million depending on the Sort securities the

balances think about the up security I billion $X.X investment we're on in to side.

really to But to want don't can starts deploy when growth grow it's had Bob manage the to towards during liquidity think we up, I that too those pick in as available. feel, Certainly, time. we what's mentioned a loan those opportunities to depend the it earlier our of opportunities. and portfolio advantage use we call lever much liquidity want we will on as take this loan

comfortable right it now, the it where up is environment we are depend might billion, very So with going around a feel we will on like what maybe really little bit but tick $X.X forward.

Bob Harrison

my out million average from the I maybe a there. Steve, key flooring, committed amount And and hasn't and driven. supply our for to right XXXX, capacity changed is dealer really lines to four earlier much. forgot of is year point ending answer $XXX we're make balance down that's there, It all The follow-on that about

on both So here to deliver you'll see that ability manufacturer's mainland in in as recovery a particular and recovery pretty product, a see cars, in Hawaii that portfolio. the strong the you

Steven Alexopoulos

do get the where it questions. return this which guess is. you dollar but better at I I they think inventory my levels I is to were, Thanks taking should question point, for hear where knows dealers anybody from that it there And million don't

Operator

Our Bohlen next line the from question comes of KBW. Jackie from

Jackie Bohlen

in wanted I drove a background little and systems timing? with of just what shift conversion expenses on the the start get bit to the

Ravi Mallela

bit a little of on Maybe background expenses.

we think talked about a drivers I the little quarter-over-quarter. bit

implementation I in think delay XXXX expenses. core the really change for didn't the our outlook

typically we end And X% when I comfortable gave. certainly we at guidance of look we'll with that think to So we that guidance we do feel give XXXX, the year. the as pretty

Jackie Bohlen

anything or And that internally -- the it the shift was was conversion driven timing? there caused in I guess externally

Bob Harrison

cautious we're we It really a partner, things behind wanted little conversation where is we're to with were be. and a having our technology had them and

we this be just little very a ourselves to could successfully we to and time. give more So do sure want want

It's quarter. The quarter we doing have want is about. issue just just fourth of conversion whole comfortable a weren't other that the other externalities bunch the we brings fourth that didn't to in in worry to

Jackie Bohlen

would going just any consider Difficulty] assuming where efforts of terms of today But back which to then past and stand what announcements. versus kind the are and be aside everything having employment [Technical of employee as the might full just up? And wondering where how base you that just separate you in wakes relates the you I'm you sit kind recruitment from

Bob Harrison

go of place, Having let didn't said our took people didn't as et redirected closed replace during cetera. as areas branches normal to other We Covet. them just the retiring, anybody people also we bank. necessarily that, moving, XX% attrition we We of

So in now there moderately still out is though out market. do tough But what that different to a on have of job, and think difficult easy have to us, everybody a course, right but we're we're huge we've don't that been even find challenges. for depending just and not different challenge jobs the right the successful trying it's I environment we always employees, there now. right needs, It's it's

Jackie Bohlen

recruitment more entry broad or spectrum, is in positions kind based? geared upper And middle are one any meaning versus or your the it toward level of efforts place management, more

Bob Harrison

think and there entry I more probably are it's specialized level certain areas.

can always someone course, for right grab Of we more with that's away. set, we're that it's certain time challenge. level. tend we technology find typically them area, But in always to and entry the people a Any skill looking

Operator

next of Our question America. Ebrahim from from Poonawala of comes the line Bank

Ebrahim Poonawala

finance. just a the We following on dealer question another guess decline. I up on saw

the your it balances any Bob, half or XXXX balances -- is a improvement event you stabilized? see all point? year, So comments you heard I the for of think do And this any earlier, meaningful have in those room that at do back

Bob Harrison

trying to hard great first on factors pick promotion. manufacturing when predict. all, moderate. is It's to about, address talked of to will That's The your the question, we And two hard and congratulations capacity demand news. the increase will part

where looks the to seen affecting So still chips is the see be are seems in which with The those semiconductor going the although, either help semiconductor like of half. so starting to making back, issue of quite customers, more and gets many the predicting we're starting be, come talking some see to for that of bunch will expect normal of up inventory half that's to a return back the demand to cars, back enough we early our strong. It haven't all towards and probably whole kind year to keep but question companies between you're our manufacturers. West mix should that Coast here, to be What in of back the a of it they the levels until pivot to hearing is conversations customers is XXXX. the nobody

Ebrahim Poonawala

close terms just pre-pandemic you are of revenue, outlook about customer when in I seen we've guess, for revenue just activity quickly fee And fair as fee you and amount about think of, I to How thinking recovery, fees? a impacts activity the levels. it guess,

Bob Harrison

start it can Ravi. I Maybe and I'll to off hand

speak of have that to, our international piece here, can Ravi back activity that's and course, which we're until in lot generally we over missing that is Japan the travelers yet this of primarily think traveler spending the Canada. And the travelers. I and seeing past of has year, it's driven, a early next and don't end been won't but higher year, of XX% be also our

So positive Ravi, for can maybe that's address what's a But happening indication there. you later.

Ravi Mallela

get very rest line continues our to support year. of to we good I fee reflection a and continuing Frankly, the saw the That's dinner days item income in about in credit that for along a of see hard extent think And merchant a nice with and it's services we these of we really interchange. Certainly, here. activity the that that debit on that Honolulu. level card uptick activity, fees, reservation economic continue to feel to

other Some trust the of has onetime course the us generated our charges, types lines, see been income always about expect that talked typically number to of service investment we of quarter-over-quarter, see and customers, onetime over strong we consistent fees And items over the other we opportunities on. rates onetime a are we those continue income and year. by commercial year. the nice to investments of and for And that in to quarter, are mark-to-market a really course the quarter. to that had certainly, that, primarily due about continue recovery little we long will pretty good feel stay stable, relatively BOLI, that And of go too. this as have as saw we the line, pickup some And feel we portfolio this there swap

I on income see to growth think see side, commercial we'll that's of swap was hopefully, to loan a as more we continue from rebound previously. where it start reflection, the

for feel to range things million you when $XX together, the $XX next So about a good pretty million all EB, we quarter. of those put

Operator

comes from James. Raymond from question next of Our Feaster David line the

David Feaster

appreciate prepared in on commentary of remarks. I follow-up the the wanted on I the to kind pipeline just that.

a been puts get mean and with how pay floor loan payoffs You and we talked to downs I is And an how have strength? the growth. you're takes there of well about trended notable that pipeline, were the but dealer growth we it saw the balanced that? the of the of sense similarly composition the segments some just and in originations plan have quarter or like seeing any offset

Bob Harrison

customers help things, couple make those are And and maybe, customers comment our David. transitions I'll is we've in able to this who been to fortunate a comments. seeing be with couple dealer some ask portfolio, transitions. are We're Ralph some to of them buying selling Bob, maybe and of and new A

seeing estate and growth balances, the given here that lesser both customers level for good some nice opportunity area has in later on than led real flooring in some to depressed that’s Coast. line and also extent some for more a of So it loan activity, West an although, as today. of that's the a couple growth new We're commercial is well,

is we're that ongoing. construction have And that projects side, year. up the on to with now finish is activity on funding, several commercial been we're for that lending place estate expecting So of some time the real deals in then that are this later that

the and is finishing into it of to add construction before was part equity now actually this anything go And the bank going more you cycle project But Ralph, to sales. in they doing that? they're actually draws. So the the before the money their where of it's want

Ralph Mesick

up I think sums growth. areas much pretty that seeing that we're No, the

David Feaster

is of just How quarter both the to was follow construction of versus I just projects underwriting on new this environment? just And want commitments on comments in deals? in I inflationary your approach labor on this and on how do you construction. pressures much the growth prior up curious, light building materials drawing

Ralph Mesick

I be that run, think projects a work in what that fact that short will down of this cost. to the a but we through, of behind that bit to short But got -- happened, are its we are I that year also they we're trying originated loans -- could a little we late I the some had because think, think were originating new way closing But fund. earlier was that start seeing uplift. just loans. lock And

So activity. have to continue is that aggressive one continues takeout The sort thing a which bit starting unusual is to be there pace. of of it to going a looks sort to like we're more see, we're that

actually, complete. in people was to now coming And situations coming And before where actually to then we seeing us the in project. loan, project the the an started we're in would would people is So the we way see happen the see complete. what we and through all started we're once stabilization and looking the apartment was paying refinance of the and loan hold project to past, doing off

to out of it credit that's think a of there today. I level So talks supply

David Feaster

the you guys do how pretty like technology. it structure. I'd been mean And API that that is just on in this about shift an any a I doing And being make whether that to you have leverage fintech and embed Just play talked this? open investments what opportunity about impressive, and in can partnerships even think thoughts to to lot fintech that you I'm just any gears or you your front. platform? into and guys there's curious,

Bob Harrison

certainly are future. looking invest some and that's look at in at partner probably we Dave, closely. to something very the first point We

can. fintechs We that aren't less do are non-fintech, quite better faster, partner very but looking and technology that they at different do other we expensive ways even to and yet but can much partners stage to things than with actively at we

Ravi Mallela

available where API David, open just and tremendous maybe is the of with and the them the set we able flexibility. we'll and that quickly us, we actually have we're building them us that we're Ravi gives that products I'd up, have be to our amount a be infrastructure able breed the And capability fintechs fintechs towards the when with closely. so have building to to that add they towards this best best-of-breed work partner with partner we'll of architecture a

Operator

from Liesch comes question Andrew line Sandler. next of Piper the from Our

Andrew Liesch

could one on think you negative point But ratio the allowance releases there or you're this where some reserve and is level. this CECL be it the do the where you'd still reserve grow point, line? above down is Question comfortable into provision think level at day other a the you now at

Ralph Mesick

we're how think next have I to to than would that of starting have today, we is be we to -- our the rates. better important variant households the into will the translates seeing see that's customers higher much we're that couple infection which anticipated, then is have sustainable. is performance quarters. evaluate think And over rebound business to I and for going happening have know We

happens have to know up. I And continue there. want once away think to we the hold kind and go we happens relief what programs our see see the finally, consumers we to of if stimulus So what

and think has improving. is was economy release of now, hat I the a the think reflective how pretty say I it quickly rebounded here hard kind t So it's and of to right was but big outlook

Andrew Liesch

basis excess points. been excluding margin have you think that somewhat looking the the for has seeing you front, Ravi, then at to still X and any you so all forgiveness PDP And Is expect liquidity what seen -- the there but said, I On there? early liquidity alleviated flow of impact to X be I the that are in far? quarter, mean, know what I down it's

Ravi Mallela

quarter, think that course continue forgiveness money I we of good is mean commercial to flow a to sort clip, we to the quarter-over-quarter of balance see extent the up loan mentioned sheet back over deposits in form of pretty at liquidity. consumer going and of that on I PPP our were some the the

I before, are think early certainly, say to a so we go. mentioned levels quite as a And it's little have we to liquidity But where going bit of capital.

We see growth. have balance for it. to we're of plenty of able we the room opportunities come, those on to sheet take loan going And be when advantage

Operator

Our Instructions] Fargo. from [Operator next line comes question the from Shaw Jared of Wells

Jared Shaw

loan the persistent any guess, longer more sort of residential a your saw in with of flooring, this and but what period for appetite quarter beyond the percentage as book time? loan to or we I book of from maybe change retain loans, headwinds growth a

Ravi Mallela

sheet loans. we to was good for loans. more those quarter-over-quarter balance the or Certainly, in bump the those appropriate, the selling. $XXX of when million I in And and the balance is, will sort retaining here, of of those of the sheet. I put We either see like move market what we reflection The residential a And we'd feel shifts a more quality slowly it's refi, like the like on starting marketplace. of market. marketplace from reflection moves from that it we think and see purchase think, towards we'll purchase as us loans be on to

Bob Harrison

out average of add is where a here the pricing is given at, quickly Freddie to and price of Just that, home Fannie category Hawaii. moving in to

the least Fannie. new or is so able loan origination lot And for to Freddie a sold of at not be

Jared Shaw

sort into of looking relatively your here of were even And are then called first, year I we from expenses stay full guess, flat dollars where expenses, that out. those guidance items on of assumes some that backing with

conversion delaying 'XX of As of or expense main conversion, the any the are from with expenses core that timing of expense, now in that 'XX, to move the of with 'XX? look that, will we there the were sort move associated the

Ravi Mallela

staff out sort us and I that's it to more moving will there's XXXX. for one Certainly, frontline Certainly, going associated training into stretched our some costs a to here sort benefit but training But so it lot a think money it's time. with of and of program at little -- a spend parts impact. of that have different our of a point that's we, bit some there. to in is example, shift the

On with side, the technology existing line of we're the some flip to next get relationships the across extending providers year. finish

when And there's of look puts feel guidance a really a and and material intact going good that and to XXXX still pretty feel for impact it. these we be doesn't on We this have so our about lot takes we at overall puts year. takes

Jared Shaw

to for have And conversion still a or determined? do you that is the date be set

Bob Harrison

works with still out looking working We're if everything on that our technology but partner, for QX XXXX, of well.

Operator

Compass the Point. from comes question of line from Hunsicker Laurie next Our

Laurie Hunsicker

Just an didn't are at last numbers in any of update deferrals or seen your deferrals, was us quarter million. very, any give see is just $XX on Can you we low looking wondered credit your deferral where with deferrals? very

Ralph Mesick

$XX we're is million residential deferrals. of think it's $XX at million And mortgages. about now, Right I that, in

of been had the So granted think, on what last billion I deferrals loans that have sort is from, of $X.X that's we down year. books

Laurie Hunsicker

if could all should much $XX how And The appreciate then is back I PPP remaining just wondered the PPP, the detail. loans, be half thinking the million how about million back How the of year? pace this should of we that? forgiven we majority of think that the round that $XX unamortized that piece potentially in forgiveness, that's we Or the one? go on I of is about

Ravi Mallela

we to be coming when out. it's little think to going hard It's a say

million. $X that really I really around to low. balances one two, partnership came round think it's sort a of round are and one, round related with the we And had in which

bulk QX. it the in so came of in latest round And really the

it that what have QX the take get shifted out. plays helping we did is we'll our just forgiveness it'll pipeline how extent the in process, time as to the the go to start which of and to going, through we so And just customers forgiveness see we our attention

Bob Harrison

kind under. $XXX,XXX loans, sophisticated Just the a the What in to work kind of engaged is the the now We've more which [easy] customers. a in barbelling, the with larger we're is add to have with bit. very them. forgiveness because doing been group And CFO, then And been answer very we're to staff, easier middle. and Ravi's of those accounting

So have more work with the bit holding little just hand to it's and we're customers. taking that going through a to

Laurie Hunsicker

some on number of that we past is still put our is question can about running and kind that core look challenges e is there's that? obviously better of is, on three all we a there thinking just and then margin. right we're And at you last on quarters margin us be whatever PPP, guide the or as way to together If or this give $X.XX, out the

Ravi Mallela

I on factors. will depend number it of different a think

respect the and think investment securities that for will some levels I depend general what and forward just on with we appetite deploying of of liquidity it portfolio, see going to loan liquidity. our

probably it's there, on we down But go things So could a it's from. depending to good change, see. up what or number from start

Operator

question comes the of Bohlen. next from line Our Jackie

Jackie Bohlen

like ratio on refresher much capital didn't and I really a but feel I rapidly change wanted ratios. targets economy is just evolving. the I know quarter-to-quarter the

a ratios how capital the pretty you're if on level? So think just and update quarter's was an repurchases the pace you of targeting, indicative about

Bob Harrison

this hand is and start I'll Jackie, Bob. to Ravi. over Maybe it

X common changed equity our We're of any haven't still Tier XX%. looking targets. at We at

as we're can well And tell. still that, so you above

And kind to challenges to predict and hard other this of see to as at a be Ravi, early there love used as little then the Will as stimulus bit to lastly, far we'd credit it that anything wears But off capital that figure support a continue growth. it's things? mentioned, had will add? little level, out. to where various And it's loan Ralph being quality. As the

Ravi Mallela

share just about kind think I'd quarter in did Jackie, I share the call line puts that's mentioned in quarter. We to and authorized add that million the the think a that of pace good during the $XX are do in pretty with million that the us we of repurchases year. repurchases for we we $XX.X in

the of over through moving consistently year. we And given confident course levels so capital where kind are, about feel that of the

Operator

Thank like turn I now Mr. you. back would Haseyama. conference the to Kevin to And over

Kevin Haseyama

Vandervliet have in Anne, more I we question X queue. the Brock from think

Operator

more question from we Brock Vandervliet So have UBS. one from

Unidentified Analyst

filing for is Sean on This Brock.

quarters? and in Going of the credits the [NCL] have about clean of What back should couple next think recovery. we terms to profile

Ralph Mesick

you profile, is what Sean? The said, NPA that

Unidentified Analyst

[NCL]? The

Ralph Mesick

we going would as sort I provisions of anticipated thought think the losses. those taking and we have in, seeing this through provisions eventually flow

today, You low. very look are where NPAs the they're at of level

have year, going So happens to if I continues, lot I losses of strong saw. a that and the kind mean we go is trend at this households that said, we're to see of away. to recovery with the not once programs this point, extent what this we how consumers stimulus But as and not see our

provision a of in quite take the loss to bit prepared we're So today.

fairly I think level would large. sort It's look of more of points basis XXX that's a of net of as something you something that that PPP, at provisioning. about be indicative recessionary of

Operator

now Thank you. I back Haseyama. to Kevin call Mr. And the will turn over

Kevin Haseyama

Hawaiian, have contact weekend. First in me appreciate and today. you us a We interest if of day, that, the have everyone, Thanks, rest questions. your feel good to additional joining free and enjoy With your any please for

Operator

this gentlemen, today's call. conference participating. and Thank concludes for Ladies you

now may You disconnect.

First Hawaiian (FHB) 23 Jul 212021 Q2 Earnings call transcript