FHB - Earnings call transcript Q3 2021

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Operator

Good day and thank you for standing by. Welcome to the First Hawaiian, Inc.

Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and answer-session. now Investor hand Relations would to conference I Haseyama, Kevin Manager. Instructions] like the to over [Operator Please go ahead.

Kevin Haseyama

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

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

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

Bob Harrison

to everybody. early I’d We a shot. fully did COVID quite with of for at left have two. and dramatically case lot all of Xst in that. virus Kevin. you age joining Hawaii going And starting related come there. the mayors, over is the the neighbor the fully can new our lower on are surge to XX% the September over the see Good increase you, we’re lower. Like of this the here see many actually of population to as one in today. November the a back you talking with capacity both arrival a be the islands, lot all we vaccinated late XX% is part in done job on our about the situation good we’ve update most counts morning, for down that, an a turn has really population Hawaii, the and daily impressive on Delta governor that for increase starting had concern and in to our August in to if so hospitals, numbers There keeping and announced welcoming A ability of expect and month. places, of us -- visitors we’ve XX see least variant Oahu and open and in has officials the bit elected to a Thank directly focused economy of our you to started and control an starting tourism here start slide to Thank on to health on like related very to the are

the as tourists normalized season. to return, to restrictions come a economy So start we of we into off the as and expect more holiday come start

slide three, total downs. PPP to loans net Turning of grew pay

of grow $X.XX the all stable. quality variant. to maintained the continue all noise Our Deposits income $X.XX remained despite segments, results the the the in per and solid were was Board the earnings in and per expenses were Credit diluted share. excellent share non-interest while dividend at quarter, Delta and

current our to we also million go it with financials. $XX.X During of under program. the stock I repurchase over turn will the over quarter, repurchased to And common that, Ravi

Ravi Mallela

Thank you, Bob.

loans $XXX end slide million from down were QX. of billion, to leases Period and four. Turning $XX.X end the

a total several areas, loans, impact the We million. dealer $XXX declining in Excluding had but million. PPP by headwind, some activity of remained good loans increased another $XX flooring

residential, total of estate by home commercial in balances, increases PPP dealer repayments million in and Growth quarter. impacts about and loans the was flooring equity. real $XXX third Excluding the driven grew

delayed loan recovery we in for year. to Looking balances, be up now ahead of quarter, to the to loan total ex-PPP flooring, X% expecting expect we’re but because net flat fourth the growth balances in dealer the

increase the quarter. increase in versus quarter five. by million deposits slide deposit This $XXX was to a a deposits. balances. public $XXX consumer $X.X increase ended in commercial entirely operating was public increase billion balances account the and million $XX.X prior in a and Turning Total The almost at deposits driven in billion, increase

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

interest and from In Turning expect basis income net to points. million, balances. income million net slide to the for decrease decline forgiveness, the we The balances quarter. quarter. due QX, X.XX%, of the previous primarily liquidity impact interest of a investment securities average was our was interest six. PPP higher versus to basis $XXX.X margin XX-basis-point increase margin excluding cash Net higher a $X.X prior was in increase interest Net to X loan X and points excess

asset Turning seven. expenses Non-interest quality. quarter quarter. And a $XXX,XXX XX.X%. Non-interest I was the debt a $X.X were $XXX million quarter $X.X million, over now, in go versus the to turn third previous increase increase ratio prior over million was QX efficiency income it over income the Non-interest Ralph BOLI and to will to benefit. a slide $XX.X the included in million,

Ralph Mesick

Thank you, Ravi.

If I you quality. provide slide a on comments want turn could asset to to eight, few

the decrease attributed moving realized low in down the XX points prior days two good years. were in of XX marginally loan. levels CRE NPA the basis points of closing quarter. continue and in the lower than QX from increase to were to quarter, Loans we an quarter. past annualized assets QX, is due $XXX,XXX a quarter We released QX. days X to and of from at past a the XX prior XX-day single provision remain charge-offs see performance, loans credit saw Net was during total delay XX increased basis charge-off net points, X of due basis Criticized credit increased basis year-to-date, loans extension X.XX% at the the end costs The X.XX%. XX to points this we to this point basis in to rate again

slide to nine. Moving

the million decreased equates level credit X.XX% loans. million to about see for $XXX.X You roll net loans for segments. forward quarter. X.XX% and the of $X.X of allowance This loss a by about of of PPP to disclosure The end the all the by allowance quarter at

In $XX.X consumer we changes $X.X allowance by some million. Our release unfunded million and improvement balance $X.X a FICOs. the in QX, reserve for the through against commitments reported to increased million

the COVID continue credit unchanged, leisure still we the outlook and overlay, the These as Our uncertainties action. impact given uncertainty will the of loss. related as higher of a economy on fiscal maintain for could but in mutation and midyear started well was monetary effects virus anticipate recovery activity, that travel include the new result

the Let turn call me back Bob. now to

Bob Harrison

quarter, Thank excellent. credit remained you, was Ralph. another quality solid This

customer for rising rates. to digital sheet with balance well-positioned and experience open investment our continuing our that, questions. improve up is our in your We’re technology and like And take to and I’d capabilities our it

Operator

Ebrahim Poonawala the [Operator comes Instructions] Bank the line from first America. Your with of of question

line is open. Your

Ebrahim Poonawala

morning, Good

Bob Harrison

Good morning.

Ravi Mallela

Good morning.

Ebrahim Poonawala

of, go to point to so give start you I going update could of sense peak book of year us where year chain the a it out at on how this you ex-PPP, dealer that and full Bob, you just guess bottomed resolved? can a think loan issues -- reference was if there? so next growth, pre-pandemic, be back see understanding here the back may -- just the get has of the What all finance on supply not just large this pace maybe you do again, the of so that one, just mentioned book

Bob Harrison

in today question, pickups. automotive with GM’s good The Good Eb. you, dealer that progress team fact, news Business on Head North shipping we us. they’re making our Thank saw of good America news some shared Sure. said, on

non-stop way work their to So supply margin with start companies their and day straighten big very chain. are and certainly to high they’re working out from they’re vehicles night But these going there. the and

I dealer am flooring plus of the latest the a balances of and bit now million. our substantially peak, number not kind would less were but $XXX Our be XXXX little and sure about, $XXX we’re end normal million

there’s a bit room. of So quite

$XXX down Just this year-to-date. balances year in million we’re

the can’t happen. We chain had thought this. that started increase to bottom really it pick have already Obviously, supply a would didn’t allow You bit. issues on

volume car to with hopefully, purchased and this in be through we will else. a able be watching going that in still that they’re advance. will everybody they start be work as people have But, So to to with along backlog, the produce cars manufacturers

longer flooring start increase. take see lines to a So bit and to will it the balances little

seeing increase. article how of Head like was would they network the in in that, You’re saying dealer to today even see GM their this their inventory

being to point signs that fairly plays we’re mainland those will activity, just not strong. to More production seeing all and loan how, see activity see and increased timing. broadly in So we out how wait in

Oahu couple will Kind lines is seem this decline, projects the be commercial be to we’re C&I estate, down those the loans balances large there’s has been residential an that’s those we’re take but so anymore and residential has quarter -- doing for for last doesn’t by of see revolving that that usage of stabilized in real for so now, months, a finish here will a on than projects. few the on and more on we out Our will construction pulling same side there made up anecdote strong. over that

will some business will primarily will see but that comes moving seems So the some flooring soon potential during see like be there around, upside, see bottom quarter, back. we on just a and to we wait with have at how we’re and but it the

Ebrahim Poonawala

us to economic two how going color activity, hotels perspective many around give we and Thanks, where you think been are fully Bob. about some terms some just restrictions. when it. we opened, going have of us XX% Give of sector, just think hospitality Got COVID slide terms a sense at are normalcy, that? of the in of in terms of we the holiday the And around Are -- in how all you capacity winter. the just -- into you on would season there, provide be

Bob Harrison

holidays that off September in October, as can’t closed. the still see season, vacation. always can’t in we’re I’d arrivals from it what tourist take but fall I summer will typically right hotels then any their think the we the certainly the now, in builds holidays people which a drop normal predict Yeah. into and back what is of bring, are shorter and

major think to open, certainly the adjusting occupancy is. has and their ones they’re on I depending what everybody staffing tried

and ready we everybody’s wait So to have and see. will just

choose families show to holiday season and this to year just it’s we As conversations, previous travel. see booked, Hawaii think But have come many people every are up. the to they and if to just many, will hotel we’ve see and I wait rooms if talked come about have in

Ebrahim Poonawala

for it. PPP -- last can if and And Ravi, end the be I on much in one left one what’s the the XQ balance period at recognized? question -- of end of to is if how Got was fees sneak just what

Ravi Mallela

Yeah.

We million of I second the balances, and sorry, have remaining there. in about terms of a $XXX the little part question Ebrahim, over missed

Ebrahim Poonawala

left are tied that that What $XXX PPP balance? fees to are the million tied to

Ravi Mallela

It’s a $XX.X million.

Ebrahim Poonawala

$XX.X next million quarters, that two and quarters, gets of the expect to forgiven. three most assume you safe that

Ravi Mallela

Yeah.

couple we’ve we at reflection I good a is think, the quarter, at. moving the think, been if last of next look of quarters pace I

So quarters think through the the I it. of over we should two be next majority

Ebrahim Poonawala

Thanks for it. taking Got my questions.

Operator

from comes Alexopoulos Steven JPMorgan. question next Your with

open. is line Your

Steven Alexopoulos

everyone. Hi,

Ralph Mesick

Steve. Good morning,

Bob Harrison

Steve. morning, Good

Steven Alexopoulos

drill wanted saw to you can C&I, and quarter? in stable? you I the utilization, dealer PPP was what and know aside, those then take pipeline notable commitments Any we change you if I C&I it little and put line talk loans increase said was start bit down in a the we in on loans the about

Bob Harrison

the have you do Ralph, number? utilization line

Ralph Mesick

the down a into and gone pre-COVID saw We’ve we it point. I the probably around XX%. was at was It over shade think XX% mid-teens probably what low Yeah.

So bit to a back it started there. come

Bob Harrison

Yeah. seeing… are And we

Steven Alexopoulos

And on yeah. -- commitments

Bob Harrison

in seeing seeing huge some been a some the we’re that’s But corporate area, area. muted. amount, activity but activity not that in We’re

stable. couple wanted or that we’ve just it’s in acquisitions seen and them, but occurred either seen a -- went have but haven’t that the that been we capital it’s fairly of markets not they portfolio, payoffs that We to transaction mergers just

have growth, We as see. in that new starts a few to amount. there deal the and beginning but think will I of -- we and is see typically the months what we haven’t will seen a wait But huge modest making bring amount see just market if we will year, of next the

Steven Alexopoulos

near-term. built cash sizable here, the pretty expecting you’re Okay. Ravi, more maybe looks it That’s helpful. guidance you And over a have than then deposit for, loan like position the growth

that balance securities cash or move liquidity bit, a this Now this your have anticipate into that you appetite, moved expect here? we further of has changed rates more book building to up do should

Ravi Mallela

that those would grown in We’ve a just our we with by as look have We balance we stage. of of you securities us at we’ve think it’s growth -- piece it piece quarter this levels sheet comfortable and with But of kind and take pretty to looking to I feeling and loan see will pretty currently. love know, and liquidity close data, at securities $X $X it about that help portfolio billion. at totality the this billion we’re probably the we sort have level certainly to

So start to are to but like some down. would I have we a feel minus that and little over liquidity that point balances our think plus through as see to come deployed, bit, But with at work get we to or this we’re level see of liquidity we securities going those time. comfortable

Steven Alexopoulos

Okay.

Bob Harrison

And very municipalities is you operating the with in the would fluid. relationship saw I increase has thing large to Steve. is Bob, that it the The only a accounts, various public state that been add in is

to predict. amount of have the cash going coming hard Just in is and out they

Steven Alexopoulos

Got it.

and about every talking have paying to growth been the the about year? this expense here but Bob, a pressure just Thanks. and lot is could then, pressure final impact situation Hawaii, banks Okay. a your a that And wage of over one, in attention I point I mean, just next

Bob Harrison

Yeah. same rate jobless our -- ticked of down Great Steve. did same the seeing issues We question, here. the see some we’re yesterday. And

to went X.X%. it X% from So down

lot jobs, So there’s out hire. activity there’s a a still of to lot but looking people people still for trying there, some of

last been over wage some through business. quite the in there’s and year going frankly So we’ve pressure plus our that

it’s face be So what I going am exactly say not to it, would forward. we predict to won’t but going that hard

Steven Alexopoulos

Okay.

color. Okay. Thanks for the all

Operator

Feaster David next Your from Raymond question James. comes with

Your open. is line

David Feaster

everybody. morning, Good Hi.

Bob Harrison

morning. Good

Ravi Mallela

morning, David. Good

David Feaster

standards standpoint, give saw maybe lot dynamics markets, on just in a also you pricing compare CRE more curious, the well, pulse seeing some competitive structure the mainland growth am some just where but CRE? could from and a of just the strength a you competition I seeing We and also nice contrast -- you’re Hawaiian in curious as you’re and us to I -- wanted quarter. that maybe just just seeing maybe hear if and seeing. the U.S., what the you’re in and

Bob Harrison

I ask pressure this -- comments. Hawaii and maybe Maybe on Ralph will -- Yeah. start continued to is we’re we’ve What see some here pricing. David, Bob, to in add and

banks be quite structure. seems people primarily of been a some it much have just seen mainland, much relations with active haven’t it where It’s too West doing We with be to with the able been there Ralph, on to I direct -- construction relationships transactions we mentioned lot that more in in are headwinds, Coast, more in. the and other over that and up would relations CRE the we anything couple add to projects as time, will earlier paid see in side. expect that? on here participate we’ve of volume but some a QX here large there I you But, will active off

Ralph Mesick

sort type Most mainland No. I good the there where on doing quality would we’re pretty we’ve that estate, is right say now. activity seen of institutional players. real what of type institutional

terms, market. of an as be maybe issue not in loan it would of the in that think terms weakening smaller So it’s of I big

David Feaster

on appetite on helpful. touching maybe some and were to on the in here the of That’s department add getting the much then but several just And fees, pretty then which seen on curious income takes trends fee Okay. card seeing other thoughts your and the there? for just where back have BOLI, there, you’re recovered and puts the your we benefit, color trust too? just the just have banks And BOLI appreciate BOLI

Bob Harrison

ahead. go Ravi, Please,

Ravi Mallela

Sure.

them think just pieces, I is will I David, this in maybe take Ravi.

characterize very here as summer. income card result -- and see to been into mentioned, it’s strong and over and card we as quite small maybe We nice virus pretty been seen of as with fee say of saw again, trend of Bob it a I’d pick trust year and say rest as and little the to Delta season shoulder the the and stable, sort pieces the of, a vacation and I dip what I’d a strong in of it’s see investment of the of numbers and going the will the really consistently very solid bit season. a good up, income, income hopefully income the sort for, has core activity the debit we’ve I’d think just coming which has the I been for investment revenue recurring consistent us of expect bit trust that from a from we place year, last of impact say, and sources, year-and-a-half. side growth there But been with activity. credit

Just about capital in talking at we bit end have that BOLI our top of our for probably from little amount perspective BOLI, can perspective, the the from a of sort portfolio. we’re a

expect to we perform but consistently itself, expect over well it don’t we in the least at this So pretty portfolio BOLI pretty and to environment. add to time

David Feaster

for That’s color. asset one last been guys. phenomenal. quality has just then And Okay. Great helpful, me,

a guys great do You job there.

on Just wanted quality uptick and balances due criticized small, it’s overall thoughts and asset mean, past but touch here? the you’re on to just modest just in I the uptick,

Ralph Mesick

is million. this about Asian at conducted is around, The shared the $XX think, credits really, exams criticized credits, I in five increase downgraded Ralph. banks. national that are got was Dave, about Sure. the during loans that the that And

perspective see think at much sound and look really we we businesses companies regulators flexibility, there. of had from good Now it banks. lost I financial maybe sort These really have the that potential a credits, different the those don’t

happening there. nothing, I don’t So really think

then loan I an really we’ve past was continue XX on at can side, trend of points. basis kind one and think the we’re seen that that on of kind improve. And this to due delinquency administrative

could -- one of the change bit a quite just So, a create statistic. in loan that in

David Feaster

-- any was or industry trends of you’ve one-off? any was, that credits five just kind those -- it within anything or there similar Was

Ralph Mesick

higher in those improving. No. They trends areas, the risk of are actually probably are kind

at they well-defined a come And we deals. and they regulators and downgraded the not there’s And again, annually think look means but -- which essentially were credits. downgraded weakness was those a in I those mention, special it So weakness. necessarily to potential

We have reserve for those credits.

quality we’re So the right comfortable with picture now. asset pretty

David Feaster

Okay. That’s helpful. Thank you.

Operator

Andrew Your question Piper Sandler. with comes next from Liesch

open. is line Your

Andrew Liesch

Good morning, everyone.

Bob Harrison

morning. Good

Ravi Mallela

morning. Good

Ralph Mesick

morning. Good

Andrew Liesch

should expenses you But it next mean be were inflationary into I at X% and to growth which know we year? like reasonable? touch expense pushed look I we be should base of Just at next controlled here, looking want guiding to there the you seems pretty on conversion how for year, pressures. and think next well expense might some sounds off for XXXX, the it all year? timing how going the into I

Ravi Mallela

see is -- little will a we’ve inflationary our we categories about Andrew, this in seen, future that of yet. guidance wages of Yeah. terms profile. But in sort make high demand. of some comment we Ravi. how we I alluded very provide in and the Typically, what pressure Bob don’t on expense some specific in bit comments particular that. I sort XXXX are that to will particularly

So that’s one area.

a the continue technology to I past, to think -- and of this in be investment we’re we future to the our competitive. continue our part talked in in goals about we’ve going invest continuing big for technology, it’s

talk to is about just just area Another the core.

will I the of itself. the of the think closer costs of expense to see, form amortization we’re will into of on. closer go get we training start the implementation cost roll the line eventually in going we we core, will continue And to development capitalization we the when that and as core live, see see to

things where some color, think but we going the future. just that’s color are for not on guidance So some or guidance,

Andrew Liesch

on Got any can there provide conversion? time it. Makes sense. you Is the

Bob Harrison

is this Bob. Andrew,

in. to year half and We’re the first of that looking trying next at pull still

very to we’re the we and delayed good since didn’t want ourselves we’re progress at. We’re the good it about year like we’ve fourth where too being candidly, end. just to relative idea we it by and where want But specific. at made didn’t in But feeling do very to quarter were jinx seem because about good feeling we’re it, a don’t

Andrew Liesch

rapid And buyback, consistent some should be point, capital that How how buyback at funds you asset looking obviously deposit with guys we share the growth, you at put Makes but some of now? growth some to that Understandable. other these direction be public would ratios. be repurchases, pressure with but there. just the have know I may the sense at looking the go should that then, on versus wanted right

Bob Harrison

and Yeah. comments ask as Maybe this Bob any start, Ravi, well. I if has can is he

Clearly, we’re share amount corporate through of have that at return after Something a back critically what and maintain to something we profitability. that. our planning changes any that dividend holding the program. flooring next hopeful will come we’re we’re to very decide loan that how kind point be absorbed we to credit much loans we’re what very our to capital look that’s have and the will steady we our level growth assets. the just on in don’t us. and process, We customers our seeing Certainly, that and see looking we’ve get important repurchase important in certainly at capital idea will the some we on look And risk any that above of is year not have at weighted in would looking bank our investing and we’re capital Ravi? into and this customers target both have technology budgeting line that’s our with of in or that just lines us that portfolio in But process. we the of been know left we’re we will at for will

Ravi Mallela

I anything add. to didn’t have

Andrew Liesch

for will and you questions taking the Got it. Thank right. back. All step I

Operator

Your Fargo. Instructions] next [Operator Shaw with from Jared Wells question comes

Your line is open.

Jared Shaw

Thanks Hi. taking questions. for guys. Good the morning,

Bob Harrison

Good morning.

Jared Shaw

about quarter. be How growth for -- growth, ex-PPP hit ramp-up story that part a in this we a to X% be the as that grown lending overall certainly that, we the percentage resi shifting forward? of the of should -- target seeing looking seems of year, going it Maybe Is loan as bigger at a portfolio? like fourth part mortgages thinking going you’re to

Bob Harrison

actually several in those. we’re other large of as we’ve customers, as Certainly other actually Jared. reason will projects the a a This bump -- escrow for Good morning. are Yeah, quarter, see next three residential loans now, in the that for it a as There’s are completed. for in than fourth couple weeks projects in closing to them Bob. approved completing residential no those going far is be

the itself will volume by that pretty through. boost so that be normal of significant top goes a And on

little many new situation places, pick seeing we’re like three refinance completed kind have addition projects a that, bit a these one-off we in up, in these of So slowdown and than of purchases. But in special with projects to other this completed.

So residential should be quite strong in QX.

Jared Shaw

Okay. to Thanks. enough capacity the return the of the the of state of a COVID? beginning reopening or bit may have the market. And left is reopening at of shifting little labor of people a touched then in But sort require on that labor maybe to state, some that you handle there full state

Bob Harrison

be X%, we’re now To at point. rate. the you on Yeah. it And that. low X% below for before, had don’t something answer have determined, now I or we’re we honest, To and at X.X%, Kevin, great X.X%, be a our X.X%. unemployment X% was

we’re quite the are of you. that return I still will be don’t be jobs out know and absorb to there to demand the candid So with sufficient looking that for to a tourism. few workers

Jared Shaw

we should when looking saying that at just guidance, liquidity is you’re the at of the Okay. the that, excess point? then, finally excluding NIM And liquidity, excess Ravi be thinking this for what me, you’re

Ravi Mallela

to say… hard It’s

Jared Shaw

value dollar Yeah. the Just there.

Ravi Mallela

deposits base impact public basis Bob consumer part those strong off, excess points in pretty the commercial If those, to as move we deposits. of mentioned, X good will the certainly growth Yeah. last It’s it impact I about decline, coming excess hard liquidity. of of we’ve deposit of liquidity that from but seen to also and some was say, start think, quarter

on next what the two. or So will quarter in really depend it happens

Jared Shaw

Okay. Thanks. a lot. Thanks

Operator

Your next with question Hunsicker Compass Point. from comes Laurie

open. Your is line

Laurie Hunsicker

Thanks. Great. Good morning.

Bob Harrison

Good morning, Laurie.

Laurie Hunsicker

What’s in us -- that just the I little color, give wondered costs million litigation a $X.X was? if what the could you

Bob Harrison

touch resolved, our that. commercial it morning, there and and litigation, but Laurie. performing expectations into they Bob. had I to so some just hopeful Yeah. Good we were didn’t very feel have we we can should with And our on unfortunately soon. that dispute vendor got is we’re This

Laurie Hunsicker

$XX.X then still that to expense think out looks And high, other $X.X look there it’s when netting Okay. was items even bucket in million, million, I line, one-time any at about? other that the that

Ravi Mallela

mean things, I that a little in items a of Laurie. nothing small of we had, particular specific, catch-up Nothing lot specific. but couple

Laurie Hunsicker

mean, line would where to million I a we guess, were or think Okay. sort that run, run it to to quarter going should think closer of that? or if we is I about about $XX take how give

Ravi Mallela

hard lot It’s a there’s items that are small that say, to in sort of line. of

$XX bad what think expect show depend it million up isn’t of the but itself. it be, we might number sort in I in terms a such that just to items will one-time on of quarter

Laurie Hunsicker

be then, That’s about rate, would Great. how Okay. helpful. next that we should tax And thinking for year?

Ravi Mallela

I happens think barring anything policy. else that out to there respect with

with trending little downward. a consistent maybe bit relatively think are, where I we

our credits tax to tax housing income as low an in manage engage effective opportunity rate. to continue We

as of there, as kick build takes to opportunities And into that start we so roll down that new we a will sort little bit. time we portfolio. But see that

Laurie Hunsicker

me, your I quarter last release, I for your know incredibly it us am question could in you at number. low update deferral the last deferrals, then give press or see And hoping Great. a $XX I deck in was Okay. million. didn’t

updated Just wondered if on you had number the? an

Ralph Mesick

Yeah.

I million. think what’s left now, $XX is Laurie, Ralph, this about is

Laurie Hunsicker

$XX million.

And of what’s have Okay. chance versus commercial what… split a in buy do terms

Ralph Mesick

residential But Yeah. mortgage. I it’s exclusively almost don’t.

Laurie Hunsicker

Perfect.

much. very you Thank Okay.

Operator

this There now are to further Kevin it turn over questions time. no at Haseyama. will I

Kevin Haseyama

Thanks for me joining you us rest Thank please questions. free interest additional any day. of Hawaiian and again you. First We your if and contact feel your have the in to enjoy appreciate

Operator

This concludes today’s conference call.

You may now disconnect.

First Hawaiian (FHB) 22 Oct 212021 Q3 Earnings call transcript