Earnings Call Excerpt
Central Pacific Financial Corp. (CPF)
Q3 2008 Earnings Call
October 31, 2008 11:00 am ET
Executives
David Morimoto – SVP and Treasurer
Ronald Migita – New President and CEO
Glen Fujimoto – Vice Chairman, Hawaii Market
Dean Hirata – Vice Chairman and CFO
Curtis Chinn – EVP and Chief Risk Officer
Analysts
Brett Rabatin – FTN Midwest Research
Joe Morford – RBC Capital Markets
Bobby Bowen – KBW
Eileen [Lipsky] – Sandler O’Neill & Partners
Brett Rabatin – FTN Midwest
Charles Phipps – Palm Desert National Bank
Al [Sevastano] – Unknown Firm
Presentation
Operator
Welcome to the Central Pacific Financial Corp. third quarter 2008 conference call. During today’s presentation all parties will be in listen-only mode. (Operator Instructions)
I'd now like to turn the call over to Mr. David Morimoto, Senior Vice President, Investor Relations. Please go ahead, sir.
David Morimoto
Good morning everyone from Hawaii. With us today are Ron Migita, President and Chief Executive Officer; Dean Hirata, Vice President and Chief Financial Officer; Glen Fujimoto, Vice Chairman Hawaii Market and Curtis Chinn, Executive Vice President and Chief Risk Officer.
Today's call will refer to a PowerPoint presentation that can be found on our Investor Relations web site. Ron and Dean will begin by reviewing our third 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 these forward-looking statements, please see our earnings release issued this morning and our other recent documents filed with the SEC.
Now I would like to turn the call over to Ron Migita.
Ronald Migita
Thank you all for joining us today to review Central Pacific Financial Corporation’s financial performance for the quarter ended September 30, 2008. I will be addressing the highlights of our company and the marketplace including updating you on the progress we have made in our California loan portfolio.
Our Chief Financial Officer, Dean Hirata, will follow with a detailed financial report of our third quarter results. After we have completed our remarks we will be happy to take your questions.
Central Pacific Bank is a company with strong roots in Hawaii. I have been on the job for about three months now and it is indeed an honor and a privilege to serve as CEO of Central Pacific Financial Corporation and Central Pacific Bank. I enjoy spending time with many of our customers to see how we can address their needs and concerns. I have also been impressed by the dedication of our employees. As you all know these continue to be challenging times for our bank and the entire financial industry.
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