Earnings Call Excerpt
Central Pacific Financial Corp. (CPF)
Q2 2008 Earnings Call Transcript
July 31, 2008 1:00 pm ET
Executives
David Morimoto – SVP and Treasurer
Clint Arnoldus – President and CEO
Ronald Migita – New President and CEO
Dean Hirata – Vice Chairman and CFO
Curtis Chinn – EVP and Chief Risk Officer
Analysts
Brett Rabatin – FTN Midwest Research
Fred Cannon – KBW
Dave King – RBC Capital Markets
Aaron Deer – Sandler O'Neill & Partners
Brian Hagler – Kennedy Capital
Brian Roman – Robeco Investment Management
Tim O'Brien – Sandler O'Neill & Partners
Presentation
Operator
Good afternoon, ladies and gentlemen. Welcome to the Central Pacific Financial Corp. second quarter 2008 conference call. During today's presentation, all parties will be in listen-only mode. Following the presentation, the conference will be open for questions. (Operator instructions) This conference is being recorded, and will be available for replay shortly after its completion on the company's website at www.centralpacificbank.com.
I'd now like to turn the call over to Mr. David Morimoto, Senior Vice President, Investor Relations. Please go ahead, sir.
David Morimoto
Thanks, Andrea. And thank you everyone for joining us this morning. With us today from management are Clint Arnoldus, President and Chief Executive Officer, Dean Hirata, Vice Chairman and Chief Financial Officer, and Curtis Chinn, Executive Vice President and Chief Risk Officer.
Today's call will refer to a power point presentation that can be found on our Investor Relations Web site at http://investor.centralpacificbank.com. Clint and Dean will begin by reviewing our second quarter results, and then we will open the call up for questions.
During the course of today's call, management may make forward-looking statements with respect to the financial conditions, results of operations, and the business of Central Pacific Financial Corp. These forward-looking statements involve risks that may cause actual results to differ materially from those projected. For a complete discussion of the risks related to forward-looking statements, please see our earnings release issued this morning and our other recent documents filed with the SEC.
At this time, I would like to turn the call over to Clint Arnoldus.
Clint Arnoldus
Thanks very much, David, and thank you all for joining us today to review Central Pacific Financial Corp's financial performance for the quarter ended June 30th, 2008.
I will be addressing the highlights of our company, and the marketplace, including updating you on the progress we've made in aggressively downsizing our California loan portfolio, and strengthening our capital position. Our Chief Financial Officer, Dean Hirata, will follow me with a detailed financial report of our second quarter results, including a discussion on the California residential construction loan portfolio. And after we have completed our remarks, we would be happy to take your questions.
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