Central Pacific Financial Corp. (NYSE:CPF) Q3 2023 Results Conference Call October 25, 2023 1:00 PM ET

Company Participants

Dayna Matsumoto - Group Senior Vice President and Director of Finance and Accounting

Arnold Martines - President and Chief Executive Officer

David Morimoto - Senior Executive, Vice President and Chief Financial Officer

Anna Hu - Executive Vice President and Chief Credit Officer

Conference Call Participants

Andrew Liesch - Piper Sandler

David Feaster - Raymond James

Operator

Good afternoon, ladies and gentlemen. Thank you for standing by. And welcome to the Central Pacific Financial Corporation Third Quarter 2023 Conference Call [Operator Instructions]. This call is being recorded and will be available for a replay shortly after its completion on the company's Web site at www.cpb.bank.

I'd like to turn the call over to Ms. Dayna Matsumoto, Group Senior Vice President and Director of Finance and Accounting. Please go ahead.

Dayna Matsumoto

Thank you, Abby, and thank you all for joining us as we review the financial results of the third quarter of 2023 for Central Pacific Financial Corp. With me this morning are Arnold Martines, President and Chief Executive Officer; David Morimoto, Senior Executive, Vice President and Chief Financial Officer; and Anna Hu, Executive Vice President and Chief Credit Officer. We have prepared a supplemental slide presentation that provides additional details on our release and is available in the Investor Relations section of our Web site at cpb.bank. During the course of today's call, management may make forward-looking statements. While we believe these statements are based on reasonable assumptions, they involve risks that may cause actual results to differ materially from those projected. For a complete discussion of the risks related to our forward-looking statements please refer to Slide 2 of our presentation.

And now I'll turn the call over to our President and CEO, Arnold Martines.

Arnold Martines

Thank you, Dayna, and aloha, everyone. We appreciate your interest in Central Pacific Financial Corp. As we normally do, I'll start with an update on the Hawaii market, then I'll turn it over to the team to provide additional detail and insights on our financial and credit metrics as well as other key updates. The wildfire in Lahaina, Maui in August was devastating, and I want to first thank our employees, customers and all of you for your continued support. While it will be a long road to recovery, Maui is strong and resilient. Central Pacific Bank is committed to servicing and supporting our Maui community to the fullest. We were fortunate that our Lahaina branch was unimpacted by the fires and reopened late August, which enabled us to help meet the needs of the community. The Hawaii tourism industry has been affected by the Maui wildfires with a significant drop in visitor arrivals to Maui in August compared to a year ago. With government officials now encouraging visitors back to Maui, we hope the negative impacts will be short lived and Maui visitor counts will return to normal. Fortunately, we continue to see increases in visitors to the other islands, and overall, the Hawaii state economy is expected to have limited impact.