CPF - Earnings call transcript Q4 2021 | Central Pacific Financial Corp.

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Operator

00:11 Good afternoon, ladies and gentlemen, thank you for standing by, and welcome to the Central Pacific Financial Corp Fourth Quarter 2021 Conference Call.

During today's presentation, all parties will be in listen-only mode.

Following the presentation the conference will be open for questions. This call is being recorded and will be available for replay shortly after its completion on the company's website at www.cpb.bank. 00:39 I'd like to turn the call over to Mr. Officer. Financial Chief Morimoto, David Please go ahead.

David Morimoto

Central Credit Charlie. XX:XX Catherine Chief President are joining Chief fourth Paul Anna you XX:XX Ngo, for for and Yonamine, and Chairman Executive Vice thank as Thank quarter me we Officer; and morning XXXX the Executive you, President us for review all results Chair; Operating Vice Corp. Martines, Chief And Officer. Officer; the this Financial Executive Pacific and Hu, of With financial Arnold

have release in that our our Relations We may During supplemental additional provide management forward-looking presentations of call XX:XX make prepared slide and X statements. the details on today's course website section the earnings at www.cpb.bank. available of are Investor

assumptions, While differ we they results cause from that materially believe to actual may these risks statements reasonable projected. on involve those are based

For forward-looking our CEO, our turn related Chairman to a statements, X the XX:XX our please the And discussion complete of risks Slide I'll Yonamine. now over presentations. to to of call Paul refer and

Paul Yonamine

XX:XX Good everyone. morning,

As your Central in appreciate interest Pacific Corp. Financial we always,

optimism. beginning and with the year much XXXX excitement are We

Our financial are results ever. our for best XXXX among

In this great recession. is before earnings the since fact, report the best

great additional our in a fintech create we a early its provider in fast-growing of November. drive in more surpassed among executive And an to a in sponsorship leverages digital accounts days over are our obvious, generation increase Swell, expectations. Banking-as-a-Service need opportunity is place we checking our beyond digital to franchise. a will on mission institution. also customized mid-XXXX, banking today. needs XX,XXX of market XX:XX addition a is pleased companies a provide January focus effect our products. a our expand is believe scheduled announced today. There To developing. for to this went a of promotions fintech us a in that of is X between After investor reach in we that strong systems and Swell, our pleased evaluation younger future servicing value line Hawaii’s Swell includes our digital type line Shaka allowed today. select other has convenience making paycheck structure that people agreement in strategy, Banking-as-a-Service earnings announce strategies and the is impact has release Shaka app continue opened and programs the the Banking-as-a-Service part market for us initial is X, benefits. to the CPF. that Hawaii be credit our demand strategic the to and us. We with the to to since a value team Banking-as-a-Service early, is only of financial launch providing share announced teams revenue this revenue Our Banking-as-a-Service launch strong from in serving local enhancement Swell’s leverage credit. the the Elevate Swell our and As Banking-as-a-Service into retail offering Swell to beyond provide bank launch we account opportunity new transformation. financial equity we Mainland growth XX/ development test new offering CPF also launch believe is in Elevate that Checking. be quarter The role a And announced It's an energized credit. in-depth we of creates and to for recently launch and as It X to XX:XX the your demand initiative that this the to There and resulting differentiated enter via to to Elevate we Last another of up leadership includes to sharing savvy bank XX:XX ready will Shaka product and an is will key In the services our Hawaii, maximize programs. and account played new Hawaii. first equity that identified company we our audience and differentiated digital starting investment partnering fees of one providing in are we will product our way will details XX:XX morning, major proposition this with Shaka market of will getting market a a a no Shaka strength. far account future and integrated ATM with We tech product drive

new plan and Banking-as-a-Service Hawaii to currently We additional Banking-as-a-Service build initiative, a here. committed even create more and remain announce successful to franchise XXXX. are exciting developments the XX:XX we continuing for announcing and evaluating partnerships further to Finally, value we are in profitable to CPF later

Here to Vice Ngo, and strong Chair. talk Executive is position Catherine here Catherine? economy about the our our Hawaii

Catherine Ngo

XX:XX over an Paul. season through update December. to the air average holiday We Thank in pleased visitor you, daily a have I'll Hawaii XX,XXX with environment. were travel arrivals on start the strong giving by November

related immune to November it, at XX%. through case were has state not decline particularly as vaccination rate XXXX. to Our to rate COVID Omicron the at and strong in continue was And manage while variant, approximately X% our spike to been is the we our able statewide unemployment

also significant single over for recovery. just median in The not any our very price remains economy remains or have track seen on in with hot home the Omicron. Hawaii holding XX:XX Overall, million. market at family Hawaii slowdown to $X business Hawaii activity We investment housing due

assets non-performing Our asset to of quality continues X December strong XX. basis just with as very be total assets points of at

loans were of about Additionally, loans. total criticized X.X% total at

Arnold? our to and we Finally, I'd quarter like President Martines, of call Operating turn to had Arnold Officer. net during the the recoveries XX:XX $XXX,XXX. Chief now over

Arnold Martines

be portfolio or loan loan X% million loan by based Year-over-year The $XXX residential $XXX as very total residential XX:XX XX:XX Thank which increased mortgage million was take to XX%. in financing in the with to sequential was core were of you, categories. all several across Our was home condominium broad Total for by growth million. quarter. quarter, production increased quarter, the of fourth paydowns in the forgiveness by Catherine. core portfolio and PPP XX:XX strong, our quarter million In portfolio CPB the in equity projects almost Honolulu $XXX net large with offset leading our loan continue fourth $XXX core fourth production the mortgage during growth quarter completed out homeowners.

again record XXXX residential production with top December the in of in XX:XX totaling once loan all down lenders through paid XX. we balances to XXXX, and in balances putting us well XX% X.X mortgage Hawaii. of billion, forgiven forgiveness of progress had all originated continues XXXX For mortgage originated XX% near the and of residential PPP the

portfolios of During approximately The unsecured purchase the Both, Mainland Mainland weighted XXX. loans. continued consumer purchases all of As were X.X% the consumer total well. December Hawaii of with established XX, XX:XX purchases our vendors continue during were total and consumer loans unsecured established were and we within auto ongoing average had FICO perform quarter our our to -- flow fourth quarter, all credit basis. score a and on an limits

loans. healthy a we loans, total deposits favorable deposit to XX% with X% we of to pipeline $X in Mainland range or in product commercial our see continue core deposits basis, loan target Hawaii's categories year-over-year inflow deposits strong and expecting is we billion XXXX. front, and growth. of a core have XX:XX With On million increased or including XX%. quarter around $XX total On are continue increasing growth total by trends the by total sequential economic consumer Our steady recovery all loan loan for

deposits success expect Additionally, fourth X total our was differentiated basis we going upon points. our into with account continue. With checking our digital product quarter to strong in growth Finally, we to acceptance average Shaka just cost XXXX. early product and of this plan build a market XX:XX the

new which Chief Officer. complementary call and with the offerings XX% David? We Shaka XX:XX to accounts expanding relationships Morimoto, holders, our further explore to will new be Shaka account over the turn product now our of David represented the I'll Financial the over brand. CPB using

David Morimoto

Thank Arnold. quarter share, was prior on $X.XX per quarter quarter. on Return $X.X fourth assets for average million an fourth Net return was from $XX.X the diluted increase or million income average or XX.XX%. the equity $X.XX of XX:XX in per the you, diluted was and X.XX% share

This $X.X net million XX, interest the X.XX% For income a million NIM the to for the the fourth At $X.X and quarter. the the fees compares prior compared X.XX% to normalized quarter. or as decreased third million per in million full decrease was XXXX. I'm The to PPP quarter was decreased in by fourth X.XX% share fees market PPP to per The NIM or yields million, quarter. Net competition. wines interest which interest from due $X.X the down. net net was share. quarter in margin compared net Net prior X.XX% less PPP The diluted to income $X million pricing income diluted XX:XX $XX.X compared the $XX.X was to driven unearned quarter net quarter loan was prior lower interest quarter for $X.XX in -- normalized year, in include in million. fourth December XXXX the to XX:XX prior $X.XX by PPP in sorry, due income forgiveness process in loan compared income the $XX.X fee

At the and loans income XX:XX in yield income. expect $XX.X portfolio quarter bank-owned we life sensitive. quarter by new remain from quarter. mortgage in to million origination loan fourth $XX.X While The higher to our balance the banking driven slightly market pricing overall operating Other increase competitive, sheet prior insurance our approximated our income loan Fourth was and is increased other yield $X.X higher million $XX.X included one asset the was $X.X for XXXX, for this million, Shaka fourth savings payments, million million Honolulu launch. expense in to the severance our into of $X.X consolidated our consolidation. a non-recurring branch anticipate we branches consolidation from related digital nearby million and $X.X We of promotion million quarter expenses of operating of end expenses XX:XX annualized costs in checking which branch.

quarter XX:XX strategic credit net The million $XX.X losses branch or banking $X.X was continued interest consolidate credit In additional leverage two the to X.XX% strategic invest the XX.X% We operating in modernized quarter, expenses. XX:XX to as as effective branches to XX.X% quarter, With range. the was rate migration initiatives December tax outstanding plan locations, efficiency. provision in be lower the net the ratio loans. efficiency fully and real with including of digital to XX% credit driving positive on tax recoveries focused for At forward, customer to continue PPP the non-recurring developing to expect increased going remain due estate portfolio, well continuing in select the we are XXXX. and and recorded in for loan we we fee XX% $X.X to improve during the to branches. we continue to improvements The same excluding economic fourth acquiring income due an in to XX, time, of our million. our to allowance million losses forecasts the rate in and effective services, continued At to loans, fourth our fourth a quarter successful

up $XX.XX. fourth XXX,XXX of an Yesterday, a Board return of XX:XX Directors of of during $X.X quarter. Our $X.XX approved and Board or of And which at or our new Directors million. of total quarter also share, of remains declared the XX:XX average authorization strong X% I'll dividend the share an million the shares position was quarterly our a from we prior per Finally, cost repurchased per call Paul. to cash increase cost share repurchase a now, $XX to capital $X.XX

Paul Yonamine

XXXX solid and a David. year. Thanks, had Pacific XX:XX Central fourth quarter

our term. in and forward, are which near announced greater had about items long key by summary, cash excited we us quarterly shareholder the position very we us record In XX:XX XXXX and increased Looking the extremely We X%. dividend believe value will today, earnings. we enables we well deliver to

as to continue in address for new time, We to XX:XX to At to as Further, and support economic employees, happy organization. repurchases strategy, this Swell upcoming be $XX customers continue Hawaii, we Mainland expand remain management our of recovery. million have. committed behalf as XX:XX authorization. the board-approved our community our you. investment and any Charlie. and may we providing started with which under will the team will your employees, our will support our our as the confidence fintech launch Back partners. a and through successful thank Thank questions we we with progress launched continued banking checking other selected our to soon in Shaka you, On you you share service well We digital

Operator

of [Operator first Our from question comes XX:XX Piper Instructions] Andrew Liesch Sandler.

open. line ahead. is Your go Please

Andrew Liesch

discussed, good for plan Banking-as-a-Service curious, be the both? this combination a questions deposit Thanks just thinking Hi, But of what XX:XX based initiative. this is for got the on questions. should taking everyone. I on the this growth, morning revenue-sharing that agreement a the we you loan bottom some provide about long-term can -- could question benefit CPF's line? growth, How you. Like how on I'm

Paul Yonamine

launch it Swell, will And adjustments get details year that XX:XX is both, Elevate Yeah. to glad revenue is This as in X the CPF. we with sharing along we you. as our we further have and between Andrew. And have certain and that there Paul And Thank share to It further be between organizations, Yonamine. more arrangement. this we year. structured the we be could learnings, on iterate

Andrew Liesch

right -- in early Certainly. broadly obviously, They -- hearing credit too pretty just a but or more. I into are explain structured? need that bit XX:XX the details you providing Then Look on go is sharing that still is forward that how to and position, guess spot Is Elevate us, protection the first how stages, it to loss little many the now. that.

Paul Yonamine

This XX:XX again. is Sure. Paul

a Credit very Hu, I CPF portfolio. history before to a keeping that first, want our loan I So of Chief commend into pristine get has really Anna Officer.

rest monitoring think in know the look among to Again, very gets to management structured Banking-as-a-Service we a that it of in as very a of guidelines in definitely will those we sponsor we at have managing best X to X closely, terms in And we believe fintech that solid some if bank practices defense. lines daily. take Be And this of operation, organizations baked I really assured the be be for hard not, the a dictate credit even credit. that way and how weekly, credit this to we CPF position we'll XX:XX structure. strategy. I risk, have have the

being Elevate, Strategy Dahlstrom. the Kevin do might by Marketing we have the on former at that proven what Directors a experience. this already, over with that X and CPF, Kevin our particular predecessor here We also the -- is one Board the Chief we led bank have sponsorship add is our serves the Chief years relationships with is Swell that of Elevate Dean organizations. of is former also we of which XX fintech other CPF of leading, Elevate but strengths also have just Chief Officer Board And of I Elevate. John that and lender one Officer at Officer, for and on a Swell, XX:XX CEO the Strategy my of of with the Chairman, also Again, where core

what is real of going digital pure benefit play. of a even end day to So the the relationships it's the at harvest

Andrew Liesch

that for not was great. question that. one detail. Thank of And David. XX:XX I for you aware just you, all That's

go a more guys bit mentioned asset going you I asset the more sheet being Just bit sensitive. such sensitive. you balance little on a have low a key slightly You into think than cost that? little deposit details be to would that slightly base Could

there? factors play are what the different So that

David Morimoto

are slightly they Yeah, Andrew. Hey, Yeah. XX:XX asset sensitive.

Hawaii fixed Hawaii loans residential It’s aware, banks mortgage commonplace balance larger have or tend function the Mainland to banks, and in pretty and a tend to of just and rates. a you're under As say those loans that's in have sheet concentration markets.

are betas about environment have it funded local is XXX on stable plus that's very and portfolio March. our rate a contemplates increasing is XXXX large XX% to X%. modeling fixed modeling deposit XX% our and rate on XX% average base. about banks strong, modeling But has experience. currently to of the income historical occurring say, with similar by net core our in, in other And core X rate. So loan That So, tightenings our XX:XX deposit based first we the current interest -- in

Andrew Liesch

the helpful. Thanks it. very really it. for taking Got today. That's I XX:XX appreciate all questions

Paul Yonamine

XX:XX Thanks, Andrew.

Operator

Feaster next XX:XX of from James. David Our comes Raymond question

ahead. open. go is line Your Please

David Feaster

just XX:XX wanted Appreciate on that maybe to Hey, -- good that morning just following question. I sensitivity. everybody. margin up

reading on and then are to an earning mix. of rising of low we you kind the be like feels point asset you the prepared and your going start about remarks, do between maybe dropped the can Just is start kind lines first getting Do trough? rates hopefully have we quarter we we the that improving it at expanding it, think or think

the of growth the talked given that about? some growth initiatives -- Just you've

Paul Yonamine

Yeah, XX:XX basis. XXX quarters of margin on is guidance a the next couple probably to David. XXX for The core

net where troughed. on is it that has basis core believe interest So we margin a

remarks, As portfolio volume mentioned prepared approximate yields new on portfolio the likewise, in yield, side. the loan the investment the

So that’s margin. the expectation on net interest

David Feaster

growth it's that initiative. you've much And then how us the maybe cross on how success give early going Okay. the account some that maybe front? Could XX:XX far And just generated checking clients seeing deposit you from had think just so insights about have you selling you digital growth those to from Shaka guys great success early on-boarded? you see forward? into the where XX,XXX some you're And

Arnold Martines

product so David, with Yeah. Yes, pretty success the the launch. Arnold. this XX:XX and we're Shaka pleased is the of

As year. last in we just you launched know, that of November

for XX% new of about CPB. cross-sell can account future to I us we probably remarks, that, activating XX:XX the it's on my mentioned probably I customers. mature. accounts new and talk than will the focused As engaging customers a you the about our But as So We and opened these are quarters talk more tell opening in actual that growth. the in growth, early to little balance to start

to here reporting success excited come our future on pretty on in we're and more -- So quarters.

David Feaster

sounds see $XXX that expect of it strong So growth deposit million kind deposit to saw, XX:XX through thus growth we far, only limited starting remain impact you like should of the relatively to that of ’XX? we're growth

Arnold Martines

XX:XX That's correct.

looking said, there'll for deposit In the are we economies outflows deposits. that. to And We'll digit We some feel fact, think about as pretty you subject good we're the in growth -- just start that and we continue our and to as far that even full-year recover. with able created, on guidance with that deposit the mention things year the just growth, that, Shaka I'll of traction we as continue rebrand mid-single span growth vibe have take confidence at the to be confident have customers for we'll see launch, the last feel in But but being we that this year. again. pretty nice grow, doing, we'll

David Feaster

of are just quarter several And in ’XX? talk run rate lot first the hear a well. lot maybe expenses Okay. what be? inflationary higher go We just your how What just expenses we inflationary curious, into pressures I'm year. already into tech initiatives, about maybe ’XX? core weighing you rate, XX:XX about the expenses of And we think obviously, good you for like then, bit Just cognizant expenses got a seasonally did seems it head we But as could as given the industry, about a you ongoing. outlook last run a for rate just might on as

David Morimoto

XX:XX Yeah. It's David. Hey, David. Yeah.

think commentary your right point. I was on

because that the was designed, it we income but it ramp and last our the had knew the previously, year. initiatives was we've we of And Actually, provisioning. last in prior stated year. did we As year, tailwinds investments started credit PPP up

investing tailwinds year. because had those we we started So, last

guide. roughly for the it's flat. to million expenses $XX So $XX I per the is now would probably outlook million is quarter say

what So XXXX. X% year-over-year is a it's to X% looking for we're like plus at increase

David Feaster

XX:XX Okay. everybody. helpful. Thanks That's

Paul Yonamine

David. Thanks, XX:XX

Operator

question of Our Point. Instructions] next from [Operator XX:XX Laurie Compass Hunsicker comes

ahead. line Please Your go is open.

Laurie Hunsicker

XX:XX morning. Hi. Thanks. Good

sticking with on David expenses. Just where was

so netting timing at help branches Can X one-time your run XXXX? of how when $XX close And can $XX just terms us are on see expense obviously million you out million you're that in items. I to planning you're in to rate.

David Morimoto

Laurie. It's Hey, Sure. XX:XX David.

in at branches under X roughly the the $XXX,XXX tend so $XXX,XXX. of about the quarter. is $XXX,XXX. can change, second is is obviously to but be things prospective There quarter. plan branches, consolidations So we're the and prospective have annual planned in of we plan, expense there third annual Though third the smaller consolidation one-time then one-time those looking and savings current pre-tax current savings expense $XXX,XXX, currently And the under

annual at annual from $XXX,XXX an we're savings consolidations the total So about run XXXX on rate looking basis.

Laurie Hunsicker

XX:XX how core should Okay. expense XXXX? we thinking be about And growth for

Paul Yonamine

in like basis we're targeting, say in on a would that which X% now and And growth, the right so to X% say I is COVID, excess I our little XXXX. out, rates, in Laurie, XXXX ways would with uncertainty sheet Annual an Yeah. balance then strategy. but we're XXX to XXX, is XX:XX really is interest range. market but inflation, there annual Banking-as-a-Service regard much liquidity

expenses message lot I a moving been -- this our opportunities. we nimble as the is, XX:XX the going is we're adjust based the there we've last parts to expenses revenue line. think expense So So on line throughout to be several of on years bottom to and plan

So if Banking-as-a-Service is great revenue strategy there -- if gain opportunities, traction. is revenue there

We of will it of has will and commensurate take opportunities. it we that advantage of advantage revenue our to increase expenses take

Laurie Hunsicker

that. go back the makes I numbers. you said. to for XX:XX something just Arnold, a That's Okay. wanted great to That color sense. Thanks on

you loan to when when level? that your should is loans You're at consumer consumer that? thinking targeting your said were XX%, You buck, thought of currently be we XX% how about get on

Arnold Martines

it Good commercial and both includes morning, when XX% Actually XX:XX Laurie. consumer. I said Hi.

it's a our So total portfolio. XX% percentage and consumer as loan commercial of

than in on now, be that the near at Mainland, will that were term. in growing say. range don't about the see would I I and X% us I right So we for mean, X.X% side probably more the we consumer

Laurie Hunsicker

it. Got XX:XX

And you help I -- of just importantly, over all Can you little anything loans the are if like those? what bit think is looking up you're how fintech. the around on I add plan Swell of much And more ramping to you. and Elevates And FICO? XXXX? -- Okay. us for this guess the guess about as duration a and then, can obviously us in help I just you coupons think XXXX

Paul Yonamine

XX:XX Paul. to on start that. going Thanks, I'm Laurie. This is

in you will we as XXXX so, customer default be cost, be review rates. iteration there'll -- process we be as year will well, And up, yields, things acquisition ramping an as this we mentioned

a this But number with of a gas to We you that, deeply Laurie. this. the any become growth. Swell up key will And see on flexibility things our But do you with the part for fintech specifics that digital strategy initiative great of benefits our experience campaign to and part group growth. have had At good lender play, proven that's on continue originations with to And and led again. this over forward. Swell, XX think But Hawaii be marketing the to Elevate, and one step again, in an our XX:XX we individual do XX:XX will Elevate digital very potential who be locally. and believe is will our relationship of a Japan become when will driving our that of that for much future during can here that difficult I us. look once figuring loan investors as working know, into here future of risk opportunities we many years pedal at I Naturally, me it's out Japanese how Swell Swell real again, going terms I see of is of on degree in with tell time, you that future good we'll of with we this with by with with really hopefully coming ad opens XXXX. a also Hawaii provide opportunities

Laurie Hunsicker

XX:XX Okay.

- do No, intending [Multiple subprime Paul And so you [Multiple subprime, I'm we're not unsecured are Speakers] XX:XX sorry. is Speakers]. Elevate Yonamine A to

Laurie Hunsicker

So in FICO? that? line is of going you the help sand understand go the us XX:XX Can low on what you're how to

Paul Yonamine

Right. XX:XX

experience potential worthiness Laurie, terms right but have they years, our So, to prospects. process the you mind look in subprime focus at And near XX IP being considerable of call of the we that, the automated assessing. Elevate assessing space for They what -- roughly credit in now, and is have of prime.

we that And expense showing of existing we be built. And more coming will why it on and need is that to really great It's the so, system. And lending of business Elevate's management alliance leveraging not rebuild. because we're great a our technologies this deal have. feature on is books already current lot we today, another actually, nothing that's of current processes. together There

Laurie Hunsicker

how sorry, And is How think of FICO? that on so if -- your XX:XX what do definition near the about prime? you

Paul Yonamine

XX:XX David, what was the FICO score?

David Morimoto

of just FICO definition the I is, But is to for Laurie, of XXX more necessarily we a near curtain share say, of there will get as launch what this a Yeah. Swell. it's some will we desire now. with will that details to keep closer with XX:XX area. But But prime. be to say and regard to Laurie, behind get going launch happy what near prime as we're in not to I and we

input well their one and the different today credit a inputs. models inputs you're have multiple the of we'll to being that XXX Elevate. rely focused be going is lot while of only experience XX:XX aware, the is sometimes into hundreds As more so, on it on. digital we're And the it of And FICO lending not input, lenders of an online and digital of

Laurie Hunsicker

XX:XX just Okay. question [Multiple Great. Speaker] last And then

Paul Yonamine

Continental again, segment I of again, add, Paul in the is terms credit near in US the prime probably could If today. most the Laurie. segment just XX:XX underserved

fair So of we've done a analysis. amount

prime we're on with that scores. this the their is in David doesn't down with and of what near covered, counting so group. Elevate really years boil FICO XX segment just And has how it as experience And to identify

Laurie Hunsicker

XX:XX Okay.

your see is target best we start do to your What questions. date more then Swell? X guess? launch just your When sheet? Sorry, balance add What’s for these to

Paul Yonamine

Laurie, XX:XX we've disclosed, mid-XXXX. we're as targeting

I'd X:XX. say So

Laurie Hunsicker

can -- XX:XX just Dahlstrom. just with And you us with little then I'm I'm Okay. Great. bit not about Kevin share Kevin. lastly, familiar a

thoughts you high-level any will Just be can share good. us with that Thank you.

Paul Yonamine

Thanks, right. All XX:XX Laurie.

So Kevin for X was with Central years. Pacific Financial Corp

which mortgage driving their marketing lenders. And the Mr. Prior We We the board the with find this a very US, lot well, Chief after the that as that initiative. And are great at one was digital this a prior the involved that becoming Officer. in know each worked to we on have them digital Kevin basically all Chief influencer to Continental Cooper Officer the Mr. -- social bank online important goes bring actually again, stent and extremely he back was and to fortunate where Marketing there, of Cooper sponsor. strength a to also relationships. strategy other, Elevate very of in he Marketing on for as largest I rebranding

that. lot it's thanks a of I so the it's -- of platform a built relationship implementation result very this as and been if which who believe you that to future we're of the but in Financial they platform, to think hitting we a the brings years. of XX:XX Corp, his people now And very a along it critical Android. history was our that fintech’s capabilities. our but -- marketing looking I Kevin Swell Hawaii. that's very And had that discipline follow the type positively sponsor Pacific now matter all X.X and done. that. targets the fact, arena. with -- quite digital Apple of of XX:XX have highest the and of in that's And as we're good we got online lot rated a Kevin of is over we're state executed to rated proud years, about organization past that built us, many the and have a we work, mobile It the And final involved took on of in could success be factor X up Central especially banks new it's

Laurie Hunsicker

Thanks. Great. leave XX:XX there. I'll it

Operator

at There are time. this questions further no XX:XX

over and So remarks. Paul to back I'll call for turn the closing Chairman Yonamine, CEO

Paul Yonamine

XX:XX Thank much look participating Great. you to earnings opportunities for fourth Thank XXXX. to future progress. on of for the We forward our very quarter you. you our update call in

Operator

This XX:XX joining. for call. today's Thank concludes you

lines. disconnect You your may now

Central Pacific Financial (CPF) 26 Jan 222021 Q4 Earnings call transcript