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CPB INC. ANNOUNCES FOURTH QUARTER EARNINGS

 HONOLULU, Jan. 12 /PRNewswire/ -- Yoshiharu Satoh, chairman of the board and chief executive officer of CPB Inc., (NASDAQ: CPBI), holding company of Central Pacific Bank, announced fourth quarter financial results, as follows:
 CPB INC.
 Financial Highlights -- CPB Inc. and Subsidiary
 (Unaudited)
 (In thousands, except per share data)
 As of Dec. 31 1992 1991 Pct. Change
 Assets $1,253,663 $1,134,589 +10.5 pct.
 Deposits 1,074,055 990,862 +8.4
 Net loans 886,168 821,817 +7.8
 Stockholders' equity $100,733 $89,706 +12.3
 Number of shares
 outstanding 5,196 5,186 +0.2
 Book value per share $19.39 $17.30 +12.1
 Three months ended Dec. 31
 Net income $3,782 $3,282 +15.2
 per share .73 .64 +14.1
 Cash dividends declared 1,039 933 +11.4
 per share .20 .18 +11.1
 Twelve months ended Dec. 31
 Net income $14,602 $12,707 +14.9
 per share 2.81 2.51 +12.0
 Cash dividends declared 4,155 3,553 +16.9
 per share .80 .70 +14.3
 Satoh noted that despite the recession, sluggish tourism and construction activity, and low interest rate environment, CPB Inc. and Central Pacific Bank performed well in 1992, largely because of cost containment measures and increased mortgage loan activity.
 Central Pacific Bank is Hawaii's third largest commercial bank with more than $1.2 billion in assets and 18 branches statewide.
 -0- 1/12/93
 /CONTACT: Wayne Kirihara, VP-manager, Marketing Division of Central Pacific Bank, 808-544-0500/
 (CPBI)


CO: CPB Inc. ST: Hawaii IN: FIN SU: ERN

MS-BP -- LA022 -- 4126 01/12/93 14:48 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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