Central Pacific Financial Corp New (CPF) Financial Statements (2024 and earlier)

Company Profile

Business Address 220 S KING ST
HONOLULU, HI 96813
State of Incorp. HI
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments112,044328,907105,418104,099102,18682,293
Cash and cash equivalents112,044328,907104,067102,972102,18682,293
Short-term investments   1,3511,127  
Financing receivable, accrued interest, after allowance for credit loss16,000  
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss1,300  
Total current assets:129,344328,907105,418104,099102,18682,293
Noncurrent Assets
Operating lease, right-of-use asset34,98539,44145,85752,348
Property, plant and equipment91,63480,35465,27846,34345,28548,348
Long-term investments and receivables46,64129,67929,96817,11514,0087,088
Long-term investments46,64129,67929,96817,11514,0087,088
Intangible assets, net (including goodwill) 9,074 11,86514,71815,59619,855
Intangible assets, net (excluding goodwill) 9,074 11,86514,71815,59619,855
Total noncurrent assets:182,334149,474152,968130,52474,88975,291
Other undisclosed assets7,121,0856,940,7086,336,1975,778,0495,629,9515,466,124
TOTAL ASSETS:7,432,7637,419,0896,594,5836,012,6725,807,0265,623,708
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 5,000 22,000150,000197,00032,000
Total current liabilities: 5,000 22,000150,000197,00032,000
Noncurrent Liabilities
Long-term debt and lease obligation 51,547     
Long-term debt, excluding current maturities 51,547     
Total noncurrent liabilities: 51,547     
Other undisclosed liabilities6,923,3456,860,8226,025,8505,334,1525,118,3015,091,673
Total liabilities:6,979,8926,860,8226,047,8505,484,1525,315,3015,123,673
Equity
Equity, attributable to parent452,871558,219546,685528,520491,725500,011
Common stock408,071426,091442,635447,602470,660503,988
Additional paid in capital101,34698,07394,84291,61188,87686,098
Accumulated other comprehensive income (loss)(143,984)(7,960)20,1288,409(16,093)(1,039)
Retained earnings (accumulated deficit)87,43842,015(10,920)(19,102)(51,718)(89,036)
Equity, attributable to noncontrolling interest  4848  24
Total equity:452,871558,267546,733528,520491,725500,035
TOTAL LIABILITIES AND EQUITY:7,432,7637,419,0896,594,5836,012,6725,807,0265,623,708

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues232,286218,517211,938215,419202,045184,700
Net investment income232,286218,517211,938215,419198,079182,436
Cost of revenue
(Amortization of Mortgage Servicing Rights (MSRs))
   (6,167)(2,460)(1,859)(2,288)
Gross profit:232,286218,517205,771212,959200,186182,412
Operating expenses(34,864)(35,351)(37,380)   
Operating income:197,422183,166168,391212,959200,186182,412
Nonoperating income1,8653,4933,8033,8603,0223,917
Investment income, nonoperating      
Gain, foreign currency transaction, before tax    755905529
Bank owned life insurance income 1,8653,4933,8033,1052,1173,388
Interest and debt expense(17,093)(7,715)(14,735)(32,309)(25,296)(14,859)
Income (loss) from continuing operations before equity method investments, income taxes:182,194178,944157,459184,510177,912171,470
Income from equity method investments   415257233602
Other undisclosed income (loss) from continuing operations before income taxes(83,425)(73,292)(108,841)(106,840)(99,901)(97,016)
Income from continuing operations before income taxes:98,769105,65249,03377,92778,24475,056
Income tax expense(24,841)(25,758)(11,760)(19,605)(18,758)(33,852)
Income from continuing operations:73,92879,89437,27358,32259,48641,204
Income before gain (loss) on sale of properties:79,89437,27358,32259,48641,204
Net income available to common stockholders, diluted:73,92879,89437,27358,32259,48641,204

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:73,92879,89437,27358,32259,48641,204
Other comprehensive income (loss)(136,024)(28,088)11,71927,602(13,079)482
Comprehensive income (loss), net of tax, attributable to parent:(62,096)51,80648,99285,92446,40741,686

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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