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  FOR IMMEDIATE RELEASE
   
Investor Contact:Jayrald RabagoMedia Contact:Tim Sakahara
 Senior Strategic Financial OfficerCorporate Communications Manager
 (808) 544-3556(808) 544-5125
 jayrald.rabago@cpb.banktim.sakahara@cpb.bank
 
NEWS RELEASE

CENTRAL PACIFIC FINANCIAL REPORTS THIRD QUARTER 2025 EARNINGS OF $18.6 MILLION

3rd Quarter Highlights:
•Net income of $18.6 million, or $0.69 per diluted share.
•Adjusted net income (non-GAAP), excluding $1.5 million in pre-tax expenses related to the consolidation of the Company's operations center, was $19.7 million, or $0.73 per diluted share.
•Return on average assets of 1.01%; return on average equity of 12.89%
•Net interest margin of 3.49%, increased by 5 bps from 3.44% in the prior quarter
•Total loans of $5.37 billion, increased by $77.4 million from the prior quarter
•Total deposits of $6.58 billion, increased by $32.7 million from the prior quarter
•Repurchased 78,255 shares of common stock at a total cost of $2.3 million during the quarter, and 258,648 shares at a total cost of $7.0 million year-to-date
Other Highlights:
•Central Pacific partnered with The Kyoto Shinkin Bank to expand its presence in Japan by fostering relationship-building opportunities among small to mid-sized customers of both institutions
•Central Pacific to redeem $55.0 million in subordinated notes at par during the fourth quarter
•CPF Board of Directors approved an increase in the quarterly cash dividend to $0.28 per share

HONOLULU, HI, October 29, 2025 – Central Pacific Financial Corp. (NYSE: CPF) (the "Company"), parent company of Central Pacific Bank (the "Bank" or "CPB"), today reported net income of $18.6 million, or $0.69 per fully diluted earnings share ("EPS"), for the third quarter of 2025. This compares to net income of $18.3 million, or EPS of $0.67, in the prior quarter and $13.3 million, or EPS of $0.49, in the same quarter last year. Results for the third quarter of 2025 included $1.5 million in pre-tax expenses related to the consolidation of the Company's former operations center into its main office. Excluding this item, adjusted net income (non-GAAP) for the third quarter of 2025 was $19.7 million, or EPS (non-GAAP) of $0.73.

"Central Pacific delivered another strong quarter, highlighted by continued margin expansion, solid earnings, and growth in both loans and deposits," said Arnold Martines, Chairman, President and CEO. "Our net interest margin increased to 3.49%, reflecting disciplined balance sheet management and improved asset yields. With our strong earnings and capital position, in the fourth quarter we will redeem our subordinated debt and increase our quarterly cash dividend. Additionally, our new partnership with Kyoto Shinkin Bank marks an exciting step forward in deepening Hawaii–Japan business ties and expanding our international reach. These


Central Pacific Financial Reports Third Quarter 2025 Earnings of $18.6 Million
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achievements reflect our continued positive momentum and commitment to providing exceptional service to our customers, and delivering long-term value to our shareholders."

Earnings Highlights
Net interest income for the third quarter of 2025 totaled $61.3 million, which increased by $1.5 million, or 2.5% from the prior quarter, and increased by $7.5 million, or 13.8%, compared to the same quarter last year. Net interest margin ("NIM") for the third quarter of 2025 was 3.49%, an increase of 5 basis points ("bp" or "bps") from the prior quarter, and an increase of 42 bps from the same quarter last year. The sequential quarter increase in net interest income and NIM was primarily driven by higher average yields earned on loans, up 5 bps, and investment securities, up 3 bps, partially offset by a 2 bps increase in average rates paid on interest-bearing deposits.

The Company recorded a provision for credit losses of $4.2 million in the third quarter of 2025, compared to a provision of $5.0 million in the prior quarter, and a provision of $2.8 million in the same quarter last year. The current quarter provision for credit losses included $3.4 million for credit losses on loans and $0.8 million for off-balance sheet exposures. The decrease from prior quarter was primarily driven by lower net charge-offs.

Other operating income for the third quarter of 2025 totaled $13.5 million, compared to $13.0 million in the prior quarter, and $12.7 million in the same quarter last year. The increase was largely driven by a $0.5 million increase in investment services income, included in other service charges and fees.

Other operating expense for the third quarter of 2025 totaled $47.0 million, compared to $43.9 million in the prior quarter, and $46.7 million in the same quarter last year. The increase was primarily attributable to higher salaries and employee benefits of $2.1 million related to incentive accruals and commissions, and $1.5 million in one-time expenses related to the operations center consolidation.

The efficiency ratio was 62.84% in the third quarter of 2025, compared to 60.36% in the prior quarter and 70.12% in the same quarter last year. Excluding the $1.5 million in expenses related to the operations center consolidation, the adjusted efficiency ratio (non-GAAP) was 60.81% for the third quarter of 2025.

The effective tax rate for the third quarter of 2025 was 21.4%, compared to 23.5% in the prior quarter, and 22.0% in the same quarter last year. The decrease in the Company's effective tax rate in the third quarter of 2025 was primarily attributable to the impact of the donation of real estate in connection with the consolidation of its operations center, and an increase in projected tax-exempt income.

Balance Sheet Highlights
As of September 30, 2025, total assets were $7.42 billion, which increased by $51.9 million, or 0.7% from $7.37 billion at June 30, 2025, and an increase of $6.0 million, or 0.08% from $7.42 billion at September 30, 2024.

Total loans, net of deferred fees and costs, were $5.37 billion at September 30, 2025, which increased by $77.4 million, or 1.5% from $5.29 billion at June 30, 2025, and increased by $24.6 million, or 0.5% from $5.34 billion at September 30, 2024. The average yield earned on loans during the third quarter of 2025 was 5.01%, compared to 4.96% in the prior quarter and 4.89% in the same quarter last year.

Total deposits were $6.58 billion at September 30, 2025, which increased by $32.7 million or 0.5% from $6.54 billion at June 30, 2025, and decreased by $5.3 million, or 0.1% from $6.58 billion at September 30, 2024. Core deposits, which include demand deposits, savings and money market deposits and time deposits up to $250,000, totaled $5.98 billion at September 30, 2025. Core deposits increased by $24.6 million, or 0.4% from $5.96 billion at June 30, 2025, and increased by $15.2 million, or 0.3% from $5.97 billion at September 30, 2024. The average rate paid on total deposits during the third quarter of 2025 was 1.02%, compared to 1.02% in the prior quarter, and 1.32% in the same quarter last year.

Asset Quality
Nonperforming assets totaled $14.3 million, or 0.19% of total assets at September 30, 2025, compared to $14.9 million, or 0.20% of total assets at June 30, 2025 and $11.6 million, or 0.16% of total assets at September 30, 2024.

Net charge-offs in the third quarter of 2025 totaled $2.7 million, compared to net charge-offs of $4.7 million in the prior quarter, and net charge-offs of $3.6 million in the same quarter last year. The decrease in net charge-offs was primarily due to a $2.0 million full charge-off of a commercial and industrial loan during the second quarter of 2025. On an annualized basis, net charge-offs as a


Central Pacific Financial Reports Third Quarter 2025 Earnings of $18.6 Million
Page 3

percentage of average loans was 0.20% in the third quarter of 2025, compared to 0.35% in the prior quarter, and 0.27% in the same quarter last year.

The allowance for credit losses on loans was 1.13% of total loans as of September 30, 2025, compared to 1.13% at June 30, 2025, and 1.15% at September 30, 2024.

Capital
Total shareholders' equity at September 30, 2025 was $588.1 million, compared to $568.9 million at June 30, 2025 and $543.7 million at September 30, 2024.

During the third quarter of 2025, the Company repurchased 78,255 shares of common stock at a total cost of $2.3 million, or an average price of $29.95 per share. As of September 30, 2025, $23.0 million remained available under the Company's share repurchase authorization.

The Company's regulatory capital ratios remained strong, with leverage ratio of 9.7%, a Common Equity Tier 1 ratio of 12.6%, a Tier 1 risk-based capital ratio of 13.5%, and a total risk-based capital ratio of 15.7% at September 30, 2025.

On October 1, 2025, the Company notified holders of its 4.75% fixed-to-floating rate subordinated notes due 2030, that it would be redeeming the notes in full on the November 1, 2025 call date. These notes, which currently total $55.0 million in principal outstanding, will be redeemed at par.

On October 28, 2025, the Board of Directors declared a quarterly cash dividend of $0.28 per share. The dividend represents an increase of 3.7% from $0.27 per share in the third quarter of 2025 and will be payable on December 15, 2025, to shareholders of record as of November 28, 2025.

Strategic Partnership
On October 6, 2025, Central Pacific Bank ("CPB") entered into a strategic partnership with The Kyoto Shinkin Bank ("KSB"), with the signing of a Memorandum of Understanding, to create a stronger economic bridge between Hawaii and Japan. The partnership will expand business opportunities and connect customers of both institutions across the Pacific for the benefit of both banks.

Conference Call
The Company's management will host a conference call today at 2:00 p.m. Eastern Time (8:00 a.m. Hawaii Time) to discuss its third quarter of 2025 financial results. Individuals are encouraged to listen to the live webcast of the presentation by visiting the investor relations page of the Company's website at http://ir.cpb.bank. Alternatively, investors may participate in the live call by dialing 1-800-715-9871 and entering the conference ID: 6299769.

A replay of the call will be available through November 28, 2025, by dialing 1-800-770-2030 and entering the same conference ID: 6299769, and on the Company's website. Information which may be discussed in the conference call is provided in an earnings supplement presentation on the Company's website at http://ir.cpb.bank.

About Central Pacific Financial Corp.
Central Pacific Financial Corp. is a Hawaii-based bank holding company with approximately $7.42 billion in assets as of September 30, 2025. Its primary subsidiary, Central Pacific Bank, operates 27 branches and 55 ATMs in the State of Hawaii. Central Pacific Financial Corp. is listed on the New York Stock Exchange under the symbol "CPF." For additional information, please visit: cpb.bank.


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Central Pacific Financial Reports Third Quarter 2025 Earnings of $18.6 Million
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Forward-Looking Statements
This document may contain forward-looking statements ("FLS") concerning, among other things: projections of revenues, expenses, income or loss, earnings or loss per share, capital expenditures, payment or nonpayment of dividends, net interest income, capital position, credit losses, net interest margin, or other financial items. These statement may also include the plans, objectives, and expectations of Central Pacific Financial Corp. (the "Company") or its management or Board of Directors, including those relating to business plans, use of capital resources, products or services, and regulatory developments or actions. In addition, such statements may address anticipated economic performance, the expected impact of business initiatives, and the assumptions underlying any of the foregoing.

Words such as "believe," "plan," "anticipate," "aim," "seek," "expect," "intend," "forecast," "hope," "target," "continue," "remain," "estimate," "will," "should," "may," and other similar expressions are intended to identify FLS, although such terminology is not the exclusive means of doing so.

While we believe that our FLS and their underlying assumptions are reasonably based, such statements are inherently subject to risks and uncertainties that may cause actual results to differ materially from expectations. Factors that may lead to such differences, include, but are not limited to: the persistence or resurgence of inflationary pressures in the United States and our market areas, and their effect on market interest rates, economic conditions, and credit quality; the impact of the current U.S. administration’s economic policies, including potential international tariffs, and other cost cutting initiatives; the adverse effects of bank failures on customer confidence, deposit behavior, liquidity, and regulatory responses; the effects of pandemics, epidemics, and other public health emergencies, including their impact on Hawaii's tourism and construction sectors and on our borrowers, customers, vendors and employees; supply chain disruptions, labor contract disputes, strikes; adverse trends in the real estate or construction industries, including rising inventory levels or declining property values; deterioration in borrowers' financial performance leading to increased loan delinquencies, asset quality issues, or loan losses; the impact of local, national, and international economic conditions and natural disasters (such as wildfires, volcanic eruptions, hurricanes, tsunamis, storms, or earthquakes) on our markets and major industries within Hawaii; weakness in domestic economic conditions, including instability in the financial industry, deterioration in real estate markets, and declines in consumer or business confidence; revisions to estimates of reserve requirements under applicable regulatory and accounting standards; the impact of legislative and regulatory developments, including the Dodd-Frank Act, changing capital and consumer protection rules, and new regulations affecting our operations and competitiveness; legal and regulatory proceedings, including actual or threatened litigation and the efforts of governmental and regulatory exams and orders, as well as the costs of ongoing or potential compliance efforts; the effects of accounting standard changes adopted by regulatory agencies, the PCAOB, or the FASB, and the cost and resources associated with implementation; changes in trade, monetary, or fiscal policy, including actions by the Federal Reserve; market volatility and monetary fluctuations, including the transition away from the LIBOR Index; declines in our market capitalization or the price of our common stock; the effects and cost of acquisitions, dispositions, or strategic transactions we may make or evaluate; political instability, acts of war, terrorism, or other geopolitical conflicts; shifts in consumer spending, borrowing, and savings behaviors; technological changes and developments; cybersecurity incidents, data privacy breaches, or fraud involving us or third-party vendors; deficiencies in internal control over financial reporting or disclosure controls, and our ability to remediate them; increased competition among financial institutions and other financial service providers; our ability to achieve efficiency ratio improvement goals; our ability to attract and retain key personnel; changes in our personnel, organization, compensation and benefit plans; and related reputational or regulatory exposures; and risks related to the United States fiscal debt, deficit, and budget uncertainties.

For further information on factors that could cause actual results to differ materially from the expectations or projections expressed in our FLS, please refer to the Company's filings with the U.S. Securities and Exchange Commission, including the Company's most recent Forms 10-Q and 10-K, particularly, the discussion of "Risk Factors" set forth therein.

We urge investors to consider all of these factors carefully in evaluating the FLS contained in this document. FLS speak only as of the date on which such statements are made. We undertake no obligation to update any FLS to reflect events or circumstances occurring after the date on which such statements are made, or to reflect the occurrence of unanticipated events, except as required by law.


CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Financial Highlights
(Unaudited)TABLE 1
 
 Three Months EndedNine Months Ended
(Dollars in thousands, Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,
except for per share amounts)2025202520252024202420252024
CONDENSED INCOME STATEMENT     
Net interest income$61,301 $59,796 $57,699 $55,774 $53,851 $178,796 $155,959 
Provision for credit losses 4,157 4,987 4,172 818 2,833 13,316 9,008 
Total other operating income13,507 13,013 11,096 2,624 12,734 37,616 36,099 
Total other operating expense 47,009 43,946 42,072 44,177 46,687 133,027 128,414 
Income tax expense5,068 5,605 4,791 2,058 3,760 15,464 12,569 
Net income18,574 18,271 17,760 11,345 13,305 54,605 42,067 
Basic earnings per share$0.69 $0.68 $0.66 $0.42 $0.49 $2.02 $1.55 
Diluted earnings per share0.69 0.67 0.65 0.42 0.49 2.01 1.55 
Dividends declared per share0.27 0.27 0.27 0.26 0.26 0.81 0.78 
PERFORMANCE RATIOS       
Return on average assets (ROA) [1]1.01 %1.00 %0.96 %0.62 %0.72 %0.99 %0.76 %
Return on average equity (ROE) [1]12.89 13.04 13.04 8.37 10.02 12.99 10.91 
Average equity to average assets7.85 7.66 7.37 7.35 7.23 7.63 6.97 
Efficiency ratio [2]62.84 60.36 61.16 75.65 70.12 61.47 66.86 
Net interest margin (NIM) [1]3.49 3.44 3.31 3.17 3.07 3.41 2.95 
Dividend payout ratio [3]39.13 40.30 41.54 61.90 53.06 40.30 50.32 
SELECTED AVERAGE BALANCES       
Average loans, including loans held for sale$5,332,656 $5,307,946 $5,311,610 $5,315,802 $5,330,810 $5,317,481 $5,372,247 
Average interest-earning assets7,011,753 6,985,097 7,054,488 7,052,296 7,022,910 7,016,957 7,065,075 
Average assets7,341,281 7,314,144 7,388,783 7,377,398 7,347,403 7,347,895 7,378,479 
Average deposits6,509,692 6,503,463 6,561,100 6,546,616 6,535,422 6,524,563 6,579,174 
Average interest-bearing liabilities4,807,225 4,807,669 4,914,398 4,906,623 4,904,460 4,842,703 4,941,530 
Average equity576,531 560,248 544,888 542,135 530,928 560,671 513,914 
[1] ROA and ROE are annualized based on a 30/360 day convention. Annualized net interest income and expense in the NIM calculation are based on the day count interest payment conventions at the interest-earning asset or interest-bearing liability level (i.e. 30/360, actual/actual).
[2] Efficiency ratio is defined as total other operating expense divided by total revenue (net interest income and total other operating income).
[3] Dividend payout ratio is defined as dividends declared per share divided by diluted earnings per share.

CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Financial Highlights
(Unaudited)TABLE 1 (CONTINUED)
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
20252025202520242024
REGULATORY CAPITAL RATIOS
Central Pacific Financial Corp.
Leverage ratio9.7 %9.6 %9.4 %9.3 %9.5 %
Common equity tier 1 capital ratio12.6 12.6 12.4 12.3 12.1 
Tier 1 risk-based capital ratio13.5 13.5 13.4 13.2 13.1 
Total risk-based capital ratio15.7 15.8 15.6 15.4 15.3 
Central Pacific Bank
Leverage ratio10.2 10.1 9.8 9.7 9.8 
Common equity tier 1 capital ratio14.1 14.1 14.0 13.8 13.6 
Tier 1 risk-based capital ratio14.1 14.1 14.0 13.8 13.6 
Total risk-based capital ratio15.3 15.3 15.2 14.9 14.8 


Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(dollars in thousands, except for per share amounts)20252025202520242024
BALANCE SHEET   
Total loans, net of deferred fees and costs$5,367,202 $5,289,809 $5,334,547 $5,332,852 $5,342,609 
Total assets7,421,478 7,369,567 7,405,239 7,472,096 7,415,430 
Total deposits6,577,684 6,544,989 6,596,048 6,644,011 6,583,013 
Long-term debt131,527 131,466 131,405 156,345 156,284 
Total equity588,066 568,874 557,376 538,385 543,725 
Total equity to total assets7.92 %7.72 %7.53 %7.21 %7.33 %
Tangible common equity to tangible assets [4]7.92 %7.72 %7.53 %7.21 %7.31 %
ASSET QUALITY     
Allowance for credit losses (ACL)$60,393 $59,611 $60,469 $59,182 $61,647 
Nonaccrual loans14,319 14,895 11,085 11,018 11,597 
Non-performing assets (NPA)14,319 14,895 11,085 11,018 11,597 
Ratio of ACL to total loans1.13 %1.13 %1.13 %1.11 %1.15 %
Ratio of NPA to total assets0.19 %0.20 %0.15 %0.15 %0.16 %
PER SHARE OF COMMON STOCK OUTSTANDING     
Book value per common share$21.86 $21.08 $20.60 $19.89 $20.09 
Closing market price per common share30.34 28.03 27.04 29.05 29.51 
[4] The tangible common equity ratio is a non-GAAP measure which should be read in conjunction with the Company’s GAAP financial information. Comparison of our ratio with those of other companies may not be possible because other companies may calculate the ratio differently. See Reconciliation of Non-GAAP Financial Measures in Table 10.



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Consolidated Balance Sheets
(Unaudited)TABLE 2
 
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands, except share data)20252025202520242024
ASSETS   
Cash and due from financial institutions$102,859 $110,935 $106,670 $77,774 $100,064 
Interest-bearing deposits in other financial institutions207,034 206,035 170,226 303,167 226,505 
Investment securities:  
Debt securities available-for-sale, at fair value758,683 765,213 780,379 737,658 723,453 
Debt securities held-to-maturity, at amortized cost; fair value of: $500,859 at September 30, 2025, $499,833 at June 30, 2025, $511,717 at March 31, 2025, $506,681 at December 31, 2024, and $546,990 at September 30, 2024570,886 580,476 589,688 596,930 606,117 
Total investment securities1,329,569 1,345,689 1,370,067 1,334,588 1,329,570 
Loans held for sale1,557 — 2,788 5,662 1,609 
Loans, net of deferred fees and costs5,367,202 5,289,809 5,334,547 5,332,852 5,342,609 
Less: allowance for credit losses(60,393)(59,611)(60,469)(59,182)(61,647)
Loans, net of allowance for credit losses5,306,809 5,230,198 5,274,078 5,273,670 5,280,962 
Premises and equipment, net100,992 103,657 103,490 104,342 104,575 
Accrued interest receivable25,232 23,518 24,743 23,378 23,942 
Investment in unconsolidated entities52,987 49,370 50,885 52,417 54,836 
Mortgage servicing rights8,459 8,436 8,418 8,473 8,513 
Bank-owned life insurance179,743 177,639 176,846 176,216 175,914 
Federal Home Loan Bank of Des Moines ("FHLB") and Federal Reserve Bank ("FRB") stock25,215 24,816 24,163 6,929 6,929 
Right-of-use lease assets25,570 30,693 29,829 30,824 32,192 
Other assets55,452 58,581 63,036 74,656 69,819 
Total assets$7,421,478 $7,369,567 $7,405,239 $7,472,096 $7,415,430 
LIABILITIES     
Deposits:     
Noninterest-bearing demand$1,903,614 $1,938,226 $1,854,241 $1,888,937 $1,838,009 
Interest-bearing demand1,340,725 1,336,620 1,368,519 1,338,719 1,255,382 
Savings and money market2,292,881 2,242,122 2,316,416 2,329,170 2,336,323 
Time1,040,464 1,028,021 1,056,872 1,087,185 1,153,299 
Total deposits6,577,684 6,544,989 6,596,048 6,644,011 6,583,013 
Long-term debt, net of unamortized debt issuance costs131,527 131,466 131,405 156,345 156,284 
Lease liabilities26,288 31,981 31,057 32,025 33,807 
Accrued interest payable8,604 8,755 8,757 10,051 12,980 
Other liabilities89,309 83,502 80,596 91,279 85,621 
Total liabilities6,833,412 6,800,693 6,847,863 6,933,711 6,871,705 
EQUITY
Preferred stock, no par value, authorized 1,000,000 shares; issued and outstanding: none at September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024— — — — — 
Common stock, no par value, authorized 185,000,000 shares; issued and outstanding: 26,903,512 at September 30, 2025, 26,981,436 at June 30, 2025, 27,061,589 at March 31, 2025, 27,065,570 at December 31, 2024, and 27,064,501 at September 30, 2024397,479 399,823 402,400 404,494 404,494 
Additional paid-in capital106,675 106,033 104,849 105,054 104,794 
Retained earnings175,968 164,676 153,692 143,259 138,951 
Accumulated other comprehensive loss(92,056)(101,658)(103,565)(114,422)(104,514)
Total equity588,066 568,874 557,376 538,385 543,725 
Total liabilities and equity$7,421,478 $7,369,567 $7,405,239 $7,472,096 $7,415,430 



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES 
Consolidated Statements of Income 
(Unaudited)TABLE 3
 Three Months EndedNine Months Ended
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,
(Dollars in thousands, except per share data)2025202520252024202420252024
Interest income:     
Interest and fees on loans$67,222 $65,668 $64,119 $65,482 $65,469 $197,009 $192,710 
Interest and dividends on investment securities:
Taxable investment securities9,776 9,871 9,801 8,626 8,975 29,448 24,652 
Tax-exempt investment securities709 709 708 723 551 2,126 1,804 
Interest on deposits in other financial institutions1,857 1,484 2,254 3,004 2,775 5,595 8,589 
Dividend income on FHLB and FRB stock395 388 324 125 127 1,107 384 
Total interest income79,959 78,120 77,206 77,960 77,897 235,285 228,139 
Interest expense:       
Interest on deposits:       
Interest-bearing demand490 443 452 686 484 1,385 1,473 
Savings and money market8,898 8,414 8,862 9,388 10,235 26,174 27,655 
Time7,410 7,616 8,107 9,881 11,040 23,133 36,203 
Interest on FHLB advances and other short-term borrowings— — — — — — 1 
Interest on long-term debt1,860 1,851 2,086 2,231 2,287 5,797 6,848 
Total interest expense18,658 18,324 19,507 22,186 24,046 56,489 72,180 
Net interest income61,301 59,796 57,699 55,774 53,851 178,796 155,959 
Provision for credit losses4,157 4,987 4,172 818 2,833 13,316 9,008 
Net interest income after provision for credit losses57,144 54,809 53,527 54,956 51,018 165,480 146,951 
Other operating income:       
Mortgage banking income958 744 597 913 822 2,299 2,475 
Service charges on deposit accounts2,330 2,124 2,147 2,251 2,167 6,601 6,405 
Other service charges and fees6,472 5,957 5,766 5,476 5,947 18,195 17,077 
Income from fiduciary activities1,547 1,501 1,624 1,430 1,447 4,672 4,331 
Income from bank-owned life insurance1,879 2,260 497 1,966 1,897 4,636 4,653 
Net loss on sales of investment securities(30)— — (9,934)— (30)— 
Other351 427 465 522 454 1,243 1,158 
Total other operating income13,507 13,013 11,096 2,624 12,734 37,616 36,099 
Other operating expense:       
Salaries and employee benefits24,749 22,696 21,819 21,661 22,299 69,264 64,280 
Net occupancy4,598 4,253 4,392 4,192 4,612 13,243 13,809 
Computer software5,151 5,320 4,714 4,757 4,590 15,185 13,258 
Legal and professional services2,669 2,873 2,798 2,504 2,460 8,340 7,286 
Equipment867 950 1,082 904 972 2,899 2,977 
Advertising730 832 887 911 889 2,449 2,704 
Communication791 901 1,033 943 740 2,725 2,234 
Other7,454 6,121 5,347 8,305 10,125 18,922 21,866 
Total other operating expense47,009 43,946 42,072 44,177 46,687 133,027 128,414 
Income before income taxes23,642 23,876 22,551 13,403 17,065 70,069 54,636 
Income tax expense5,068 5,605 4,791 2,058 3,760 15,464 12,569 
Net income$18,574 $18,271 $17,760 $11,345 $13,305 $54,605 $42,067 
Per common share data:       
Basic earnings per share$0.69 $0.68 $0.66 $0.42 $0.49 $2.02 $1.55 
Diluted earnings per share0.69 0.67 0.65 0.42 0.49 2.01 1.55 
Cash dividends declared0.27 0.27 0.27 0.26 0.26 0.81 0.78 
Basic weighted average shares outstanding26,968,163 26,988,169 27,087,154 27,065,047 27,064,035 27,014,059 27,054,737 
Diluted weighted average shares outstanding27,083,280 27,069,677 27,213,406 27,221,121 27,194,625 27,118,824 27,137,985 



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES 
Average Balances, Interest Income & Expense, Yields and Rates (Taxable Equivalent) 
(Unaudited)TABLE 4
 Three Months EndedThree Months EndedThree Months Ended
September 30, 2025June 30, 2025September 30, 2024
 AverageAverage AverageAverage AverageAverage 
(Dollars in thousands)BalanceYield/RateInterestBalanceYield/RateInterestBalanceYield/RateInterest
ASSETS
Interest-earning assets:         
Interest-bearing deposits in other financial institutions$167,247 4.41 %$1,857 $134,270 4.43 %$1,484 $203,657 5.42 %$2,775 
Investment securities:
Taxable1,348,314 2.90 9,776 1,379,213 2.86 9,871 1,340,347 2.68 8,975 
Tax-exempt [1]138,470 2.59 898 139,103 2.58 897 141,168 1.98 697 
Total investment securities1,486,784 2.87 10,674 1,518,316 2.84 10,768 1,481,515 2.61 9,672 
Loans, including loans held for sale5,332,656 5.01 67,222 5,307,946 4.96 65,668 5,330,810 4.89 65,469 
FHLB and FRB stock25,066 6.30 395 24,565 6.33 388 6,928 7.31 127 
Total interest-earning assets7,011,753 4.55 80,148 6,985,097 4.49 78,308 7,022,910 4.43 78,043 
Noninterest-earning assets329,528   329,047   324,493   
Total assets$7,341,281   $7,314,144   $7,347,403   
LIABILITIES AND EQUITY
Interest-bearing liabilities:        
Interest-bearing demand deposits$1,358,837 0.14 %$490 $1,357,049 0.13 %$443 $1,267,135 0.15 %$484 
Savings and money market deposits2,293,452 1.54 8,898 2,275,799 1.48 8,414 2,298,853 1.77 10,235 
Time deposits up to $250,000437,192 2.28 2,509 439,738 2.32 2,546 534,497 3.15 4,238 
Time deposits over $250,000586,251 3.32 4,901 603,652 3.37 5,070 647,728 4.18 6,802 
Total interest-bearing deposits4,675,732 1.43 16,798 4,676,238 1.41 16,473 4,748,213 1.82 21,759 
Long-term debt131,493 5.61 1,860 131,431 5.65 1,851 156,247 5.82 2,287 
Total interest-bearing liabilities4,807,225 1.54 18,658 4,807,669 1.53 18,324 4,904,460 1.95 24,046 
Noninterest-bearing deposits1,833,960   1,827,225   1,787,209   
Other liabilities123,565   119,002   124,806   
Total liabilities6,764,750   6,753,896   6,816,475   
Total equity576,531   560,248   530,928   
Total liabilities and equity$7,341,281   $7,314,144   $7,347,403   
Net interest income (taxable-equivalent)  61,490   59,984   53,997 
Taxable-equivalent adjustment(189)(188)(146)
Net interest income (GAAP)$61,301 $59,796 $53,851 
Interest rate spread3.01 %2.96 %2.48 %
Net interest margin (taxable-equivalent) 3.49 %  3.44 %  3.07 % 
[1] Interest income and resultant yield information for tax-exempt investment securities is expressed on a taxable-equivalent basis using a federal statutory tax rate of 21%.



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES 
Average Balances, Interest Income & Expense, Yields and Rates (Taxable Equivalent) 
(Unaudited)TABLE 5
 Nine Months EndedNine Months Ended
September 30, 2025September 30, 2024
 AverageAverage AverageAverage 
(Dollars in thousands)BalanceYield/RateInterestBalanceYield/RateInterest
ASSETS
Interest-earning assets:      
Interest-bearing deposits in other financial institutions$169,066 4.42 %$5,595 $210,464 5.45 %$8,589 
Investment securities:
Taxable1,367,968 2.87 29,448 1,333,394 2.47 24,652 
Tax-exempt [1]139,050 2.58 2,691 142,085 2.14 2,284 
Total investment securities1,507,018 2.84 32,139 1,475,479 2.43 26,936 
Loans, including loans held for sale5,317,481 4.95 197,009 5,372,247 4.79 192,710 
FHLB and FRB stock23,392 6.31 1,107 6,885 7.43 384 
Total interest-earning assets7,016,957 4.49 235,850 7,065,075 4.32 228,619 
Noninterest-earning assets330,938   313,404   
Total assets$7,347,895   $7,378,479   
LIABILITIES AND EQUITY
Interest-bearing liabilities:      
Interest-bearing demand deposits$1,357,095 0.14 %$1,385 $1,279,256 0.15 %$1,473 
Savings and money market deposits2,304,708 1.52 26,174 2,246,478 1.64 27,655 
Time deposits up to $250,000444,726 2.37 7,887 544,823 3.22 13,125 
Time deposits over $250,000597,876 3.41 15,246 714,763 4.31 23,078 
Total interest-bearing deposits4,704,405 1.44 50,692 4,785,320 1.82 65,331 
FHLB advances and other short-term borrowings— — — 22 5.60 1 
Long-term debt138,298 5.60 5,797 156,188 5.86 6,848 
Total interest-bearing liabilities4,842,703 1.56 56,489 4,941,530 1.95 72,180 
Noninterest-bearing deposits1,820,158   1,793,854   
Other liabilities124,363   129,181   
Total liabilities6,787,224   6,864,565   
Total equity560,671   513,914   
Total liabilities and equity$7,347,895   $7,378,479   
Net interest income (taxable-equivalent)  179,361   156,439 
Taxable-equivalent adjustment(565)(480)
Net interest income (GAAP)$178,796 $155,959 
Interest rate spread2.93 %2.37 %
Net interest margin (taxable-equivalent) 3.41 %  2.95 % 
[1] Interest income and resultant yield information for tax-exempt investment securities is expressed on a taxable-equivalent basis using a federal statutory tax rate of 21%.



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Loans by Geographic Distribution
(Unaudited)TABLE 6
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands)20252025202520242024
HAWAII:     
Commercial and industrial$464,797 $455,372 $461,020 $430,167 $411,209 
Construction176,067 172,382 159,081 145,182 134,043 
Residential mortgage1,839,535 1,851,690 1,870,239 1,892,520 1,897,919 
Home equity610,889 627,834 655,237 676,982 697,123 
Commercial mortgage1,169,568 1,161,244 1,174,573 1,165,060 1,157,625 
Consumer223,065 224,085 219,941 274,712 277,849 
Total loans, net of deferred fees and costs4,483,921 4,492,607 4,540,091 4,584,623 4,575,768 
Less: Allowance for credit losses(44,762)(44,372)(45,937)(45,967)(47,789)
Loans, net of allowance for credit losses$4,439,159 $4,448,235 $4,494,154 $4,538,656 $4,527,979 
U.S. MAINLAND: [1]     
Commercial and industrial$144,017 $152,758 $173,600 $176,769 $188,238 
Construction41,543 17,626 1,011 29 24,083 
Commercial mortgage443,619 379,279 377,866 335,620 312,685 
Consumer254,102 247,539 241,979 235,811 241,835 
Total loans, net of deferred fees and costs883,281 797,202 794,456 748,229 766,841 
Less: Allowance for credit losses(15,631)(15,239)(14,532)(13,215)(13,858)
Loans, net of allowance for credit losses$867,650 $781,963 $779,924 $735,014 $752,983 
TOTAL:     
Commercial and industrial$608,814 $608,130 $634,620 $606,936 $599,447 
Construction217,610 190,008 160,092 145,211 158,126 
Residential mortgage1,839,535 1,851,690 1,870,239 1,892,520 1,897,919 
Home equity610,889 627,834 655,237 676,982 697,123 
Commercial mortgage1,613,187 1,540,523 1,552,439 1,500,680 1,470,310 
Consumer477,167 471,624 461,920 510,523 519,684 
Total loans, net of deferred fees and costs5,367,202 5,289,809 5,334,547 5,332,852 5,342,609 
Less: Allowance for credit losses(60,393)(59,611)(60,469)(59,182)(61,647)
Loans, net of allowance for credit losses$5,306,809 $5,230,198 $5,274,078 $5,273,670 $5,280,962 
[1] U.S. Mainland includes territories of the United States.



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Deposits
(Unaudited)TABLE 7
 
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands)20252025202520242024
Noninterest-bearing demand$1,903,614 $1,938,226 $1,854,241 $1,888,937 $1,838,009 
Interest-bearing demand1,340,725 1,336,620 1,368,519 1,338,719 1,255,382 
Savings and money market2,292,881 2,242,122 2,316,416 2,329,170 2,336,323 
Time deposits up to $250,000444,005 439,687 436,437 483,378 536,316 
Core deposits5,981,225 5,956,655 5,975,613 6,040,204 5,966,030 
Other time deposits greater than $250,000458,339 459,945 475,861 500,693 492,221 
Government time deposits138,120 128,389 144,574 103,114 124,762 
Total time deposits greater than $250,000596,459 588,334 620,435 603,807 616,983 
Total deposits$6,577,684 $6,544,989 $6,596,048 $6,644,011 $6,583,013 



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Nonperforming Assets and Accruing Loans 90+ Days Past Due
(Unaudited)TABLE 8
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,
(Dollars in thousands)20252025202520242024
Nonaccrual loans:
Commercial and industrial$357 $110 $531 $414 $376 
Real estate:
Residential mortgage11,413 12,327 9,199 9,044 9,680 
Home equity2,119 1,889 746 952 915 
Commercial mortgage— — — — — 
Consumer430 569 609 608 626 
Total nonaccrual loans14,319 14,895 11,085 11,018 11,597 
Other real estate owned ("OREO")— — — — — 
Total nonperforming assets ("NPAs")14,319 14,895 11,085 11,018 11,597 
Accruing loans 90+ days past due:     
Real estate:  
Residential mortgage1,159 1,625 — 323 13 
Home equity— 21 87 78 135 
Consumer349 418 670 373 481 
Total accruing loans 90+ days past due1,508 2,064 757 774 629 
Total NPAs and accruing loans 90+ days past due$15,827 $16,959 $11,842 $11,792 $12,226 
Ratio of total nonaccrual loans to total loans0.27 %0.28 %0.21 %0.21 %0.22 %
Ratio of total NPAs to total assets0.19 0.20 0.15 0.15 0.16 
Ratio of total NPAs to total loans and OREO0.27 0.28 0.21 0.21 0.22 
Ratio of total NPAs and accruing loans 90+ days past due to total loans and OREO0.29 0.32 0.22 0.22 0.23 
Quarter-to-quarter changes in NPAs:    
Balance at beginning of quarter$14,895 $11,085 $11,018 $11,597 $10,257 
Additions838 5,879 2,397 1,436 3,484 
Reductions:  
Payments(286)(585)(614)(763)(602)
Return to accrual status(821)(861)(558)(71)(354)
Charge-offs, valuation adjustments and other reductions(307)(623)(1,158)(1,181)(1,188)
Total reductions(1,414)(2,069)(2,330)(2,015)(2,144)
Balance at end of quarter$14,319 $14,895 $11,085 $11,018 $11,597 



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Allowance for Credit Losses on Loans
(Unaudited)TABLE 9
 
 Three Months EndedNine Months Ended
 Sep 30,Jun 30,Mar 31,Dec 31,Sep 30,Sep 30,
(Dollars in thousands)2025202520252024202420252024
Allowance for credit losses ("ACL") on loans:     
Balance at beginning of period$59,611 $60,469 $59,182 $61,647 $62,225 $59,182 $63,934 
Provision for credit losses on loans3,440 3,810 3,905 1,353 3,040 11,155 9,609 
Charge-offs: 
Commercial and industrial(1,071)(2,858)(580)(1,113)(663)(4,509)(1,864)
Real estate:
Residential mortgage— — — — (99)— (383)
Consumer(2,824)(2,864)(2,977)(3,727)(3,956)(8,665)(13,139)
Total charge-offs(3,895)(5,722)(3,557)(4,840)(4,718)(13,174)(15,386)
Recoveries:     
Commercial and industrial204 195 171 158 158 570 378 
Real estate:
Construction— 3 — — — 3 — 
Residential mortgage8 7 10 11 8 25 25 
Home equity9 9 3 — — 21 6 
Consumer1,016 840 755 853 934 2,611 3,081 
Total recoveries1,237 1,054 939 1,022 1,100 3,230 3,490 
Net charge-offs
(2,658)(4,668)(2,618)(3,818)(3,618)(9,944)(11,896)
Balance at end of period$60,393 $59,611 $60,469 $59,182 $61,647 $60,393 $61,647 
Average loans, net of deferred fees and costs$5,332,656 $5,307,946 $5,311,610 $5,315,802 $5,330,810 $5,317,481 $5,372,247 
Ratio of annualized net charge-offs to average loans0.20 %0.35 %0.20 %0.29 %0.27 %0.25 %0.30 %
Ratio of ACL to total loans1.13 1.13 1.13 1.11 1.15 1.13 1.15 



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures
(Unaudited)TABLE 10

To supplement its consolidated financial information, the Company utilizes certain non-GAAP financial measures. These measures are not intended to be considered in isolation or as a substitute for comparable GAAP results. The Company believes these non-GAAP financial measures provide meaningful insight to investors and other stakeholders in understanding its financial performance and position, by excluding certain transactions that may be non-recurring, non-operational, or not indicative of ongoing results. The Company believes that these non-GAAP measures offer a useful perspective for evaluating performance trends over time and are intended to support period-to-period comparisons. The Company believes they are valuable tools for both investors and management in assessing historical results and forecasting future performance.

Non-GAAP financial measures may not be comparable to similarly entitled measures reported by other companies. The following reconciling adjustments from GAAP to non-GAAP adjusted financial measures are limited to: (1) net pre-tax expenses of $1.5 million related to the consolidation of the Company's former operations center into its main office during the three months ended September 30, 2025, and (2) pre-tax expenses of $3.1 million related to the evaluation and assessment of a strategic opportunity during the three months ended September 30, 2024.

Management does not consider these transactions to be representative of the Company's core operating performance. The related income tax effects were calculated using an assumed effective tax rate of 23%.

Three Months Ended
September 30, 2025September 30, 2024
(dollars in thousands,GAAPNon-GAAPNon-GAAPGAAPNon-GAAPNon-GAAP
except per share data)ReportedAdjustmentAdjustedReportedAdjustmentAdjusted
Financial measures:
Net income$18,574 $1,167 $19,741 $13,305 $2,362 $15,667 
Diluted earnings per share ("EPS")$0.69 $0.04 $0.73 $0.49 $0.09 $0.58 
Efficiency ratio (non-GAAP)62.84 %(2.03)%60.81 %70.12 %(4.61)%65.51 %
Return on average assets ("ROA")1.01 %0.07 %1.08 %0.72 %0.13 %0.85 %
Return on average equity ("ROE")12.89 %0.78 %13.67 %10.02 %1.73 %11.75 %
As of September 30, 2025 and 2024:
Tangible common equity ("TCE") ratio (non-GAAP)7.92 %0.02 %7.94 %7.31 %0.03 %7.34 %

Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
(dollars in thousands,Non-GAAPNon-GAAP
except per share data)ReportedAdjustmentAdjustedReportedAdjustmentAdjusted
Financial measures:
Net income$54,605 $1,167 $55,772 $42,067 $2,362 $44,429 
EPS$2.01 $0.05 $2.06 $1.55 $0.09 $1.64 
Efficiency ratio (non-GAAP)61.47 %(0.70)%60.77 %66.86 %(1.60)%65.26 %
ROA0.99 %0.02 %1.01 %0.76 %0.04 %0.80 %
ROE12.99 %0.26 %13.25 %10.91 %0.61 %11.52 %
As of September 30, 2025 and 2024:
TCE ratio (non-GAAP)7.92 %0.02 %7.94 %7.31 %0.03 %7.34 %



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures
(Unaudited)TABLE 10 (CONTINUED)

The following table presents a reconciliation of the non-GAAP adjusted net income and adjusted EPS for the periods indicated, excluding the reconciling adjustments discussed above.

Three Months EndedNine Months Ended
(dollars in thousands, except per share data)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
GAAP net income$18,574 $13,305 $54,605 $42,067 
Add: Expenses related to the consolidation of operations center1,516 — 1,516 — 
Add: Expenses related to a strategic opportunity— 3,068 — 3,068 
Non-GAAP pre-tax adjustments1,516 3,068 1,516 3,068 
Less: Income tax effect (assumes 23% ETR)(349)(706)(349)(706)
Non-GAAP adjustments, net of tax1,167 2,362 1,167 2,362 
Adjusted net income (non-GAAP)$19,741 $15,667 $55,772 $44,429 
Diluted weighted average shares outstanding27,083,280 27,194,625 27,118,824 27,137,985 
GAAP EPS$0.69 $0.49 $2.01 $1.55 
Add: Non-GAAP adjustments, net of tax0.04 0.09 0.05 0.09 
Adjusted EPS (non-GAAP)$0.73 $0.58 $2.06 $1.64 


A key measure of operating efficiency monitored by the Company is the efficiency ratio, which is derived from GAAP-based amounts. It is calculated by dividing total other operating expenses by total pre-provision revenue (defined as net interest income plus total other operating income). The Company believes that the efficiency ratio, a non-GAAP financial measure, provides a useful supplemental metric that enhances understanding of its business performance and operating efficiency. However, this ratio should not be viewed as a substitute for GAAP results and may not be comparable to similarly titled measures reported by other companies. The following table presents the Company's efficiency ratio and adjusted efficiency ratio for the periods indicated:

Three Months EndedNine Months Ended
(dollars in thousands)Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Total other operating expense$47,009 $46,687 $133,027 $128,414 
Less: Expenses related to the consolidation of operations center(1,516)— (1,516)— 
Less: Expenses related to a strategic opportunity— (3,068)— (3,068)
Non-GAAP other operating expense adjustments(1,516)(3,068)(1,516)(3,068)
Adjusted total other operating expense (non-GAAP)$45,493 $43,619 $131,511 $125,346 
Net interest income$61,301 $53,851 $178,796 $155,959 
Total other operating income13,507 12,734 37,616 36,099 
Total revenue$74,808 $66,585 $216,412 $192,058 
Efficiency ratio (non-GAAP)62.84 %70.12 %61.47 %66.86 %
Less: Non-GAAP pre-tax adjustments(2.03)%(4.61)%(0.70)%(1.60)%
Adjusted efficiency ratio (non-GAAP)60.81 %65.51 %60.77 %65.26 %



CENTRAL PACIFIC FINANCIAL CORP. AND SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures
(Unaudited)TABLE 10 (CONTINUED)

The table below provides a recalculation of the non-GAAP adjusted ROA and adjusted ROE for the periods indicated, excluding the reconciling adjustments discussed above.

Three Months EndedNine Months Ended
(dollars in thousands)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Average assets$7,341,281 $7,347,403 $7,347,895 $7,378,479 
Add: Non-GAAP adjustments, net of tax1,167 2,362 389 787 
Adjusted average assets (non-GAAP)$7,342,448 $7,349,765 $7,348,284 $7,379,266 
ROA1.01 %0.72 %0.99 %0.76 %
Add: Non-GAAP adjustments, net of tax0.07 0.13 0.02 0.04 
Adjusted ROA (non-GAAP)1.08 %0.85 %1.01 %0.80 %
Average equity$576,531 $530,928 $560,671 $513,914 
Add: Non-GAAP adjustments, net of tax1,167 2,362 389 787 
Adjusted average equity (non-GAAP)$577,698 $533,290 $561,060 $514,701 
ROE12.89 %10.02 %12.99 %10.91 %
Add: Non-GAAP adjustments, net of tax0.78 1.73 0.26 0.61 
Adjusted ROE (non-GAAP)13.67 %11.75 %13.25 %11.52 %


The table below presents the Tangible Common Equity ("TCE") ratio and adjusted TCE ratio, both of which are non-GAAP financial measures, as of the dates indicated. The TCE ratio is calculated by dividing tangible common equity by tangible assets.

(dollars in thousands)Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024
Total equity$588,066 $568,874 $557,376 $538,385 $543,725 
Less: Intangible assets— — — — (1,390)
TCE$588,066 $568,874 $557,376 $538,385 $542,335 
Add: Non-GAAP adjustments, net of tax1,167 — — 10,011 2,362 
Adjusted TCE (non-GAAP)$589,233 $568,874 $557,376 $548,396 $544,697 
Total assets$7,421,478 $7,369,567 $7,405,239 $7,472,096 $7,415,430 
Less: Intangible assets— — — — (1,390)
Tangible assets$7,421,478 $7,369,567 $7,405,239 $7,472,096 $7,414,040 
Add: Non-GAAP adjustments, net of tax1,167 — — 10,011 2,362 
Adjusted tangible assets (non-GAAP)$7,422,645 $7,369,567 $7,405,239 $7,482,107 $7,416,402 
TCE ratio (non-GAAP)7.92 %7.72 %7.53 %7.21 %7.31 %
Add: Non-GAAP adjustments, net of tax0.02 — — 0.12 0.03 
Adjusted TCE ratio (non-GAAP)7.94 %7.72 %7.53 %7.33 %7.34 %