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Ohana Pacific Bank doubles earnings in Q3
- Staff Pacific Business News
Ohana Pacific Bank reported earnings doubled in the third quarter to $289,195, as Hawaii's smallest bank prepares to double its number of branches with the opening of a second branch in Kalihi.
The Honolulu Star-Advertiser reports Ohana Pacific President and CEO James Hong attributed the 99.4 percent increase in earnings to a tax credit, improved net interest income and not having to allocate any provisions for loan losses.
The newspaper reports the bank, which opened on Kapiolani Boulevard in 2006, plans to open its new branch at 1070 N. King St. on Nov. 18.
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