<p>第一夏威夷公司（First Hawaiian Inc (FHB)）已召开第一季度财报电话会议。请继续阅读会议的主要亮点。</p>
<h3>在 TipRanks 上享受 30% 的折扣</h3>
<ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以做出更聪明、更精准的决策</li>
<li>发现表现优异的股票投资理念，并升级为市场领先者的投资组合，使用智能投资者精选</li>
</ul>
<p>第一夏威夷公司以谨慎的强势开局，贷款和存款增长稳健，盈利能力和信用指标保持良好。管理层承认，由于 12 月降息和非利息收入疲软，净利息收入和利差面临适度压力，但强调保守的信贷、充足的资本和积极的前景是该公司运营的关键支撑。</p>
<h2>贷款和存款增长</h2>
<p>第一夏威夷在第一季度的总贷款增长超过 1.28 亿美元，年化增长率约为 3.6%，尽管某些投资组合出现了流失。存款增加了 2.62 亿美元，主要受到公共运营余额增加 2.44 亿美元的推动，这有助于支撑银行的资金基础。</p>
<h2>资本实力和回购</h2>
<p>该银行强调其资本充足，同时继续通过回购向股东返还现金。在本季度回购了约 130 万股，花费约 3200 万至 3400 万美元，并且仍有 2.5 亿美元的回购授权可用，为管理层在估值保持吸引力时提供灵活性。</p>
<h2>盈利能力保持稳定</h2>
<p>盈利能力指标保持健康，平均有形资产回报率为 1.2%，平均有形股本回报率为 15.3%。22.5% 的有效税率支持了这些结果，表明该公司在利率环境下仍能产生稳健的盈利能力。</p>
<h2>存款成本降低，资金结构稳定</h2>
<p>资金趋势是一个亮点，存款的总成本在本季度下降了 7 个基点，降至 1.22%，3 月份的水平约为 1.20%。31% 的非利息存款比例突显了核心低成本资金的强劲，为第一夏威夷提供了一定的保护，以应对利差压力。</p>
<h2>信用质量保持良好</h2>
<p>资产质量保持强劲，受批评资产下降 21 个基点，非表现资产加上 90 天逾期贷款仅占总贷款的 30 个基点。净冲销为 490 万美元，或平均贷款的 14 个基点，与前一季度持平，突显了严格的承销标准。</p>
<h2>准备金保持保守</h2>
<p>信用损失准备金增加了不到 100 万美元，达到 1.69 亿美元，覆盖总贷款和租赁的 1.17%。管理层强调银行的准备金保持保守，反映出当前信用状况良好，并对未来潜在压力持谨慎态度。</p>
<h2>业务线显示出势头</h2>
<p>商业和工业贷款是一个关键驱动因素，C&amp;I 余额增加了 7100 万美元，包括约 2400 万美元的经销商库存增长。商业房地产贷款也有所贡献，而财富管理和信用卡费用业务表现稳定，显示出平衡的公司势头。</p>
<h2>住宅和建筑贷款流失</h2>
<p>贷款扩张部分被住宅投资组合的流失和建筑贷款的偿还所抵消。建筑转永久贷款的转换也减少了报告的建筑余额，尽管核心商业类别有所扩张，但整体贷款增长受到抑制。</p>
<h2>净利息收入和利差面临利率压力</h2>
<p>净利息收入下降至 1.675 亿美元，比前一季度减少 280 万美元，因 12 月降息的全面影响反映在结果中。净利息利差下降 2 个基点至 3.19%，显示出较低的利率和竞争动态对利差的影响。</p>
<h2>非利息收入回落被视为时机问题</h2>
<p>非利息收入总计 5280 万美元，较前一季度下降，主要由于银行拥有的寿险收入减少和掉期费用活动减少。管理层将这些因素视为主要与时机相关，而不是收费业务结构性疲软的表现。</p>
<h2>费用基数预计上升</h2>
<p>非利息费用在本季度为 1.279 亿美元，与管理层的全年指导一致。高管重申全年费用预期约为 5.2 亿美元，表明预计全年将广泛增加，包括计划中的招聘和业务投资。</p>
<h2>外部和竞争压力</h2>
<p>管理层指出，最近在夏威夷、关岛和塞班岛的洪水和台风带来的不确定性，表示目前还为时尚早，无法判断对旅游和地方经济的影响。该银行还提到，内地和夏威夷的定价竞争加剧，流动性充裕的机构积极竞标交易，挑战利差。</p>
<h2>定期存款到期和证券策略</h2>
<p>约 10 亿美元的定期存款将在第二季度到期，从平均利率接近 2.90% 转向约 2.50%，如果没有与高收益资产匹配，可能会对利差造成压力。由于证券收益仍然较低，管理层计划不扩展投资组合，而是将预计的现金流约 6 亿美元进行再投资。</p>
<h2>指导和前景展望</h2>
<p>第一夏威夷预计全年贷款增长为 3%-4%，全年净利息利差在 3.22% 至 3.23% 之间，预计第二季度将有适度的 2-3 个基点的顺序 NIM 上升。该银行还预计非利息收入约为 2.2 亿美元，费用约为 5.2 亿美元，并继续享受资产负债表重新定价的好处，得益于可预测的现金流、稳定的存款成本和保守的信贷假设。</p>
<p>第一夏威夷的财报电话会议描绘了一家银行在健康增长和强劲信贷之间取得平衡的图景，同时对利润率、费用和支出压力保持现实的看法。对于投资者而言，这个故事是稳健执行、严格资本管理和适度乐观的结合，但也受到宏观不确定性和竞争的影响，这将考验银行维持当前盈利水平的能力。</p>

第一夏威夷

<p>第一夏威夷公司在第一季度报告了稳健的贷款和存款增长，总贷款增加超过 1.28 亿美元，存款增加 2.62 亿美元。尽管由于 12 月降息，净利息收入和利差受到了一定压力，但该银行资本充足，并通过回购向股东返还现金。盈利能力指标保持健康，平均有形资产回报率为 1.2%。然而，非利息收入下降，管理层预计费用将上升。该银行面临外部挑战，包括近期的洪水和加剧的竞争</p>

<p>First Hawaiian Inc ((FHB)) has held its Q1 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>第一夏威夷公司（First Hawaiian Inc (FHB)）已召开第一季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<div class="lb-trans"><h3>在 TipRanks 上享受 30% 的折扣</h3>
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<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以做出更聪明、更精准的决策</li>
<li>发现表现优异的股票投资理念，并升级为市场领先者的投资组合，使用智能投资者精选</li>
</ul>
</div><p>First Hawaiian Inc. opened the year from a position of cautious strength, pairing solid loan and deposit growth with resilient profitability and pristine credit metrics. Management acknowledged modest pressure on net interest income and margin from the December rate cut and softer noninterest income, but stressed conservative credit, ample capital and a constructive outlook as key supports for the franchise.</p>
<div class="lb-trans"><p>第一夏威夷公司以谨慎的强势开局，贷款和存款增长稳健，盈利能力和信用指标保持良好。管理层承认，由于 12 月降息和非利息收入疲软，净利息收入和利差面临适度压力，但强调保守的信贷、充足的资本和积极的前景是该公司运营的关键支撑。</p>
</div><h2>Loans and Deposits Advance</h2>
<div class="lb-trans"><h2>贷款和存款增长</h2>
</div><p>First Hawaiian posted total loan growth of more than $128 million in the first quarter, equivalent to roughly 3.6% on an annualized basis despite runoff in certain portfolios. Deposits climbed by $262 million, fueled largely by a $244 million jump in public operating balances that helped underpin the bank’s funding base.</p>
<div class="lb-trans"><p>第一夏威夷在第一季度的总贷款增长超过 1.28 亿美元，年化增长率约为 3.6%，尽管某些投资组合出现了流失。存款增加了 2.62 亿美元，主要受到公共运营余额增加 2.44 亿美元的推动，这有助于支撑银行的资金基础。</p>
</div><h2>Capital Strength and Buybacks</h2>
<div class="lb-trans"><h2>资本实力和回购</h2>
</div><p>The bank underscored that it remains well capitalized while continuing to return cash to shareholders through repurchases. It bought back about 1.3 million shares in the quarter for roughly $32–$34 million and still has a sizable $250 million repurchase authorization available, giving management flexibility if valuations remain attractive.</p>
<div class="lb-trans"><p>该银行强调其资本充足，同时继续通过回购向股东返还现金。在本季度回购了约 130 万股，花费约 3200 万至 3400 万美元，并且仍有 2.5 亿美元的回购授权可用，为管理层在估值保持吸引力时提供灵活性。</p>
</div><h2>Profitability Holds Up</h2>
<div class="lb-trans"><h2>盈利能力保持稳定</h2>
</div><p>Profitability metrics stayed healthy, with return on average tangible assets coming in at 1.2% and return on average tangible equity at 15.3%. The effective tax rate of 22.5% supported these results, signaling that the franchise continues to generate solid earnings power despite the rate environment.</p>
<div class="lb-trans"><p>盈利能力指标保持健康，平均有形资产回报率为 1.2%，平均有形股本回报率为 15.3%。22.5% 的有效税率支持了这些结果，表明该公司在利率环境下仍能产生稳健的盈利能力。</p>
</div><h2>Deposit Costs Ease, Funding Mix Stable</h2>
<div class="lb-trans"><h2>存款成本降低，资金结构稳定</h2>
</div><p>Funding trends were a bright spot as the total cost of deposits declined 7 basis points to 1.22% in the quarter, with March exiting at roughly 1.20%. A noninterest-bearing deposit ratio of 31% underscored the strength of core, low-cost funding, giving First Hawaiian some protection against margin pressure.</p>
<div class="lb-trans"><p>资金趋势是一个亮点，存款的总成本在本季度下降了 7 个基点，降至 1.22%，3 月份的水平约为 1.20%。31% 的非利息存款比例突显了核心低成本资金的强劲，为第一夏威夷提供了一定的保护，以应对利差压力。</p>
</div><h2>Credit Quality Remains Pristine</h2>
<div class="lb-trans"><h2>信用质量保持良好</h2>
</div><p>Asset quality stayed strong, with criticized assets down 21 basis points and nonperforming assets plus 90-day past-due loans at just 30 basis points of total loans. Net charge-offs were $4.9 million, or 14 basis points of average loans, unchanged from the prior quarter and highlighting disciplined underwriting.</p>
<div class="lb-trans"><p>资产质量保持强劲，受批评资产下降 21 个基点，非表现资产加上 90 天逾期贷款仅占总贷款的 30 个基点。净冲销为 490 万美元，或平均贷款的 14 个基点，与前一季度持平，突显了严格的承销标准。</p>
</div><h2>Reserves Positioned Conservatively</h2>
<div class="lb-trans"><h2>准备金保持保守</h2>
</div><p>The allowance for credit losses increased by just under $1 million to $169 million, representing coverage of 1.17% of total loans and leases. Management emphasized that the bank is conservatively reserved, reflecting both sound current credit and a cautious stance toward potential future stress.</p>
<div class="lb-trans"><p>信用损失准备金增加了不到 100 万美元，达到 1.69 亿美元，覆盖总贷款和租赁的 1.17%。管理层强调银行的准备金保持保守，反映出当前信用状况良好，并对未来潜在压力持谨慎态度。</p>
</div><h2>Business Lines Show Momentum</h2>
<div class="lb-trans"><h2>业务线显示出势头</h2>
</div><p>Commercial and industrial lending was a key driver, with C&amp;I balances up $71 million, including about $24 million of dealer floor-plan growth. Commercial real estate loans also contributed, while wealth management and credit card fee businesses delivered stable performance, pointing to balanced franchise momentum.</p>
<div class="lb-trans"><p>商业和工业贷款是一个关键驱动因素，C&amp;I 余额增加了 7100 万美元，包括约 2400 万美元的经销商库存增长。商业房地产贷款也有所贡献，而财富管理和信用卡费用业务表现稳定，显示出平衡的公司势头。</p>
</div><h2>Residential and Construction Runoff</h2>
<div class="lb-trans"><h2>住宅和建筑贷款流失</h2>
</div><p>Loan expansion was partially offset by runoff in the residential portfolio and paydowns in construction lending. Construction-to-permanent loan conversions also reduced reported construction balances, tempering overall loan growth even as core commercial categories expanded.</p>
<div class="lb-trans"><p>贷款扩张部分被住宅投资组合的流失和建筑贷款的偿还所抵消。建筑转永久贷款的转换也减少了报告的建筑余额，尽管核心商业类别有所扩张，但整体贷款增长受到抑制。</p>
</div><h2>NII and NIM Face Rate-Driven Pressure</h2>
<div class="lb-trans"><h2>净利息收入和利差面临利率压力</h2>
</div><p>Net interest income slipped to $167.5 million, down $2.8 million from the prior quarter, as the full-quarter impact of the December rate cut flowed through results. Net interest margin edged down 2 basis points to 3.19%, illustrating how lower rates and competitive dynamics are weighing on spreads.</p>
<div class="lb-trans"><p>净利息收入下降至 1.675 亿美元，比前一季度减少 280 万美元，因 12 月降息的全面影响反映在结果中。净利息利差下降 2 个基点至 3.19%，显示出较低的利率和竞争动态对利差的影响。</p>
</div><h2>Noninterest Income Pullback Seen as Timing</h2>
<div class="lb-trans"><h2>非利息收入回落被视为时机问题</h2>
</div><p>Noninterest income totaled $52.8 million, declining from the prior quarter primarily because of lower income from bank-owned life insurance and reduced swap fee activity. Management framed these factors as mainly timing-related rather than indicative of structural weakness in fee-generating businesses.</p>
<div class="lb-trans"><p>非利息收入总计 5280 万美元，较前一季度下降，主要由于银行拥有的寿险收入减少和掉期费用活动减少。管理层将这些因素视为主要与时机相关，而不是收费业务结构性疲软的表现。</p>
</div><h2>Expense Base Set to Rise</h2>
<div class="lb-trans"><h2>费用基数预计上升</h2>
</div><p>Noninterest expense came in at $127.9 million in the quarter, consistent with management’s full-year guidance. Executives reaffirmed an annual expense outlook of about $520 million, signaling expectations for a broad-based ramp through the year that includes planned hiring and investment in the business.</p>
<div class="lb-trans"><p>非利息费用在本季度为 1.279 亿美元，与管理层的全年指导一致。高管重申全年费用预期约为 5.2 亿美元，表明预计全年将广泛增加，包括计划中的招聘和业务投资。</p>
</div><h2>External and Competitive Headwinds</h2>
<div class="lb-trans"><h2>外部和竞争压力</h2>
</div><p>Management flagged uncertainty stemming from recent flooding and typhoons across Hawaii, Guam and Saipan, noting it is still early to judge the effect on tourism and local economies. The bank also cited intensified pricing competition both on the Mainland and in Hawaii, as liquidity-rich institutions bid aggressively for deals and challenge spreads.</p>
<div class="lb-trans"><p>管理层指出，最近在夏威夷、关岛和塞班岛的洪水和台风带来的不确定性，表示目前还为时尚早，无法判断对旅游和地方经济的影响。该银行还提到，内地和夏威夷的定价竞争加剧，流动性充裕的机构积极竞标交易，挑战利差。</p>
</div><h2>CD Rolloffs and Securities Strategy</h2>
<div class="lb-trans"><h2>定期存款到期和证券策略</h2>
</div><p>Around $1 billion of certificates of deposit are scheduled to mature in the second quarter, rolling from an average rate near 2.90% toward about 2.50%, which could pressure margins if not matched with higher-yielding assets. With securities yields still low, management plans no expansion of the portfolio, instead reinvesting about $600 million of expected cash flows as they roll off.</p>
<div class="lb-trans"><p>约 10 亿美元的定期存款将在第二季度到期，从平均利率接近 2.90% 转向约 2.50%，如果没有与高收益资产匹配，可能会对利差造成压力。由于证券收益仍然较低，管理层计划不扩展投资组合，而是将预计的现金流约 6 亿美元进行再投资。</p>
</div><h2>Guidance and Forward Outlook</h2>
<div class="lb-trans"><h2>指导和前景展望</h2>
</div><p>First Hawaiian guided to full-year loan growth of 3%–4% and a full-year net interest margin between 3.22% and 3.23%, with a modest 2–3 basis point sequential NIM uptick expected in the second quarter. The bank also projected about $220 million in noninterest income, roughly $520 million in expenses and continued balance-sheet repricing benefits, supported by predictable cash flows, stable deposit costs and conservative credit assumptions.</p>
<div class="lb-trans"><p>第一夏威夷预计全年贷款增长为 3%-4%，全年净利息利差在 3.22% 至 3.23% 之间，预计第二季度将有适度的 2-3 个基点的顺序 NIM 上升。该银行还预计非利息收入约为 2.2 亿美元，费用约为 5.2 亿美元，并继续享受资产负债表重新定价的好处，得益于可预测的现金流、稳定的存款成本和保守的信贷假设。</p>
</div><p>First Hawaiian’s earnings call painted the picture of a bank balancing healthy growth and strong credit with a realistic view of margin, fee and expense pressures. For investors, the story is one of steady execution, disciplined capital management and measured optimism, tempered by macro uncertainty and competition that will test the bank’s ability to sustain current profitability levels.</p>
<div class="lb-trans"><p>第一夏威夷的财报电话会议描绘了一家银行在健康增长和强劲信贷之间取得平衡的图景，同时对利润率、费用和支出压力保持现实的看法。对于投资者而言，这个故事是稳健执行、严格资本管理和适度乐观的结合，但也受到宏观不确定性和竞争的影响，这将考验银行维持当前盈利水平的能力。</p>
</div>

第一夏威夷公司在增长与利润率压力之间取得平衡