CENTRAL PACIFIC FINANCIAL CORP CPF
Central Pacific Financial Corp. is a Hawaii corporation and a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the "BHC Act"). CPF was organized on February 1, 1982, and serves as the holding company for its principal subsidiary, Central Pacific Bank. The Bank was incorporated in its present form in the State of Hawaii on March 16, 1982, following a holding company reorganization. Its predecessor entity was originally incorporated in the State of Hawaii on January 15, 1954.
CPF reports financial results on a fiscal year ending December 31, and operates as a single reportable segment: banking operations.
Throughout this document, "Central Pacific Bank" is referred to as "our Bank" or "the Bank" and "the Company," "we," "us" or "our," refers to Central Pacific Financial Corp. on a consolidated basis. The terms "Central Pacific Financial Corp.," "CPF," or "the holding company", refers to the parent company on a standalone basis.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.6M | $35.5M | $32.9M | $30.4M | $28.7M | $23.8M | $26.0M | $198.3M | $182.6M | $167.1M |
| Interest expense | $240.9M | $211.7M | $210.0M | $215.6M | $7.7M | $14.7M | $32.3M | $25.3M | $14.9M | $9.2M |
| Pre-tax income | $98.3M | $68.0M | $76.8M | $98.8M | $105.7M | $49.0M | $77.9M | $78.2M | $75.8M | $73.3M |
| Income tax | $20.8M | $14.6M | $18.2M | $24.8M | $25.8M | $11.8M | $19.6M | $18.8M | $34.6M | $26.3M |
| Net income | $77.5M | $53.4M | $58.7M | $73.9M | $79.9M | $37.3M | $58.3M | $59.5M | $41.2M | $47.0M |
| EPS, basic | 2.88 | 1.97 | 2.17 | 2.70 | 2.85 | 1.33 | 2.05 | 2.02 | 1.36 | 1.52 |
| EPS, diluted | 2.86 | 1.97 | 2.17 | 2.68 | 2.83 | 1.32 | 2.03 | 2.01 | 1.34 | 1.50 |
| Shares, diluted (wtd. avg.) | $27.0M | $27.2M | $27.1M | $27.6M | $28.3M | $28.2M | $28.7M | $29.6M | $30.6M | $31.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $378.7M | $380.9M | $522.4M | $112.0M | $328.9M | $104.1M | $103.0M | $102.2M | $82.3M | $84.3M |
| Property, plant and equipment | $100.6M | $104.3M | $96.2M | $91.6M | $80.4M | $65.3M | $46.3M | $45.3M | $48.3M | $48.3M |
| Other intangibles | — | $1.5M | $1.5M | $9.1M | $9.7M | $11.9M | $14.7M | $15.6M | $17.8M | $20.5M |
| Total assets | $7.41B | $7.47B | $7.64B | $7.43B | $7.42B | $6.59B | $6.01B | $5.81B | $5.62B | $5.38B |
| Short-term debt | $0 | $0 | $0 | $5.0M | $0 | $22.0M | $150.0M | $197.0M | $32.0M | $135.0M |
| Long-term debt | $76.5M | $156.3M | $156.1M | $105.9M | $105.6M | $0 | $101.5M | $122.2M | $92.8M | $92.8M |
| Total liabilities | $6.82B | $6.93B | $7.14B | $6.98B | $6.86B | $6.05B | $5.48B | $5.32B | $5.12B | $4.88B |
| Retained earnings | $191.4M | $143.3M | $118.0M | $87.4M | $42.0M | -$10.9M | -$19.1M | -$51.7M | -$89.0M | -$108.9M |
| Total equity | $592.6M | $538.4M | $503.8M | $452.9M | $558.3M | $546.7M | $528.5M | $491.7M | $500.0M | $504.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $97.5M | $90.5M | $105.1M | $114.1M | $110.5M | $76.8M | $72.2M | $103.5M | $96.8M | $76.5M |
| Depreciation and amortisation | $7.1M | $6.9M | $6.9M | $6.9M | $7.0M | $6.2M | $6.1M | $6.3M | $6.4M | $6.0M |
| Stock-based compensation | $2.3M | $2.1M | $1.6M | $3.3M | $3.2M | $3.2M | $2.7M | $2.8M | $1.9M | $1.3M |
| Capital expenditure | $5.2M | $15.1M | $12.7M | $18.4M | $22.2M | $26.0M | $7.2M | $3.2M | $6.5M | $5.9M |
| Investing cash flow | $67.2M | $654.0K | $179.7M | -$384.5M | -$662.3M | -$596.9M | -$129.0M | -$211.1M | -$296.1M | -$277.2M |
| Financing cash flow | -$166.9M | -$232.7M | $125.6M | $53.5M | $776.6M | $521.2M | $57.6M | $127.5M | $197.3M | $204.9M |
| Dividends paid | $29.4M | $28.1M | $28.1M | $28.5M | $27.0M | $25.9M | $25.7M | $24.1M | $21.3M | $18.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000701347-26-000021.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |