Central Pacific Financial Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total interest income of $42.255 million against $39.916 million a year ago. Net interest income was $39.704 million against $38.194 million a year ago. Income before income taxes was $18.646 million against $17.417 million a year ago. Net income was $12.208 million against $10.932 million a year ago. Diluted earnings per share were $0.39 against $0.34 a year ago. Return on average assets was 0.92% against 0.87% a year ago. Return on average shareholders' equity was 9.46% against 8.68% a year ago. Return on average tangible shareholders' equity was 8.82% against 9.46% a year ago. The effective tax rate for the fourth quarter of 2016 was 34.5%, compared to 37.2% in the year-ago quarter and 35.8% in the previous quarter.

For the year, the company reported total interest income of $167.139 million against $156.035 million a year ago. Net interest income was $157.95 million against $149.528 million a year ago. Income before income taxes was $72.220 million against $72.956 million a year ago. Net income was $46.992 million against $45.868 million a year ago. Diluted earnings per share were $1.50 against $1.40 a year ago. Return on average assets was 0.90% against 0.92% a year ago. Return on average shareholders' equity was 9.16% against 8.91% a year ago. Return on average tangible shareholders' equity was 9.06% against 6.93% a year ago. Book value per common share was $16.39 as on December 31, 2016 $15.77 as on December 31, 2015. Tangible book value per common share was $16.23 as on December 31, 2016 against $15.54 as on December 31, 2015.

For the fourth quarter of 2016, the company reported net charge-offs was $0.108 million against $1.372 million a year ago.