Q2 2024 First Hawaiian Inc Earnings Call Transcript
Key Points
- Strong financial performance with good loan production and improving deposit trends.
- Credit quality remained excellent with several key credit metrics improving.
- Solid non-interest income and good expense discipline.
- Stable deposit mix with non-interest bearing deposits at 34% of total deposits.
- Well-capitalized with growing capital levels.
- Total visitor arrivals and spending were down compared to 2023 levels.
- Japanese visitor numbers remain well below pre-pandemic levels.
- Total deposits were down by $351 million, driven by a decline in public deposits.
- Higher deposit costs partially offset benefits from asset repricing.
- Uncertainty around the impact of potential rate cuts on net interest income.
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Good day, and thank you for standing by. Welcome to the First Hawaiian Second Quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session.
To ask a question d uring this session, you will need to press star one on your telephone. You within your and automated message advising your hands raised. To withdraw your question, please press star one again. Please be advised that today's conference is being recorded.
I'd now like to hand the conference over to your speaker today. Kevin have Yamaha Investor Relations Manager. Please go ahead.
Thank you, Shannon. Thank you, everyone, for joining us review our financial results for the second quarter of 2024. With me today are Bob Harrison, Chairman, President and CEO, Jamie Moses, Chief Financial Officer, and Bill Morrow, Chief Risk Officer.
We have prepared a slide presentation that we will refer
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