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CPB INC. THIRD QUARTER EARNINGS UP 18.4 PERCENT

 CPB INC. THIRD QUARTER EARNINGS UP 18.4 PERCENT
 HONOLULU, Oct. 13 /PRNewswire/ -- Yoshiharu Satoh, chairman of


the board and chief executive officer of CPB Inc. (NASDAQ: CPBI), holding company of Central Pacific Bank, today announced third quarter financial results as follows:
 CPB INC. AND SUBSIDIARY
 Financial Highlights
 (Unaudited)
 (In thousands except per share data)
 As of Sept. 30,
 1992 1991 Pct. Change
 Assets $1,215,696 $1,053,524 15.4 pct.
 Deposits 1,026,210 941,128 9.0 pct.
 Net loans 866,126 785,763 10.2 pct.
 Stockholders' equity $97,478 $86,417 12.8 pct.
 Number of shares outstanding 5,194 5,047 2.9 pct.
 Book value per share $18.77 $17.12 9.6 pct.
 Three Months Ended Sept. 30,
 Net income $3,759 $3,176 18.4 pct.
 Per share 0.72 0.63 14.3 pct.
 Cash dividends declared 1,038 909 14.2 pct.
 Per share 0.20 0.18 11.1 pct.
 Nine Months Ended Sept. 30,
 Net income $10,820 $9,425 14.8 pct.
 Per share 2.08 1.87 11.2 pct.
 Cash dividends declared 3,116 2,619 19.0 pct.
 Per share 0.60 0.52 15.4 pct.
 Satoh noted that despite the flat economic climate in Hawaii during the third quarter, CPB Inc. sustained a stable rate of growth by maintaining its focus on cost containment and customer-service delivery.
 Central Pacific Bank is Hawaii's third-largest commercial bank with more than $1.2 billion in assets and 18 branches statewide.
 -0- 10/13/92
 /CONTACT: Wayne Kirihara, VP and manager-marketing division of Central Pacific Bank, 808-544-0500/
 (CPBI) CO: Central Pacific Bank ST: Hawaii IN: FIN SU: ERN


LS-EH -- LA024 -- 9407 10/13/92 14:25 EDT
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Date:Oct 13, 1992
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