Central Pacific Bank reports 9% growth in net income for Q1 2018
Central Pacific Financial Corp., the parent company of Honolulu-based Central Pacific Bank, reported net income of $14.3 million, or 48 cents per diluted share, for the first quarter of 2018, an increase of 9.1 percent compared to last year’s first quarter earnings.
CPB’s net income for last year’s comparable period was $13.1 million, or 42 cents per diluted share.
“It was a strong quarter in terms of growth and net income,” CPB CEO Catherine Ngo told Pacific Business News. “But if…
What Amazon’s new headquarters could mean for rents
Winning the contest could mean a steeper increase in local housing costs over the next decade, a study finds.
The story behind Wapato’s latest unexpected turn
Jordan Schnitzer's last-minute buy gives Homer Williams another shot at using the jail for homeless services.
One owner now controls 123 S. Broad St. in Center City — and has big plans for the building
It took four transactions over the course of two years to finally get to the finish line. The deals involved 123 S. Broad as well as the Witherspoon building, which is vacant and now under consideration as a conversion to apartments.
Broad Avenue project lands approval, despite concerns
A large, mixed-use project in Binghampton is well on its way through the approvals process after receiving the Board of Adjustment's go-ahead Wednesday afternoon.
Developer James Maclin is leading the $50 million project, which is currently set to include a 414-unit apartment complex and about 10,000 square feet of commercial space.
A pair of Binghampton business owners voiced concerns with the project — many of which were shared with the Memphis Business Journal late last month — at the…
Two longtime Portland families reach a $26M deal for downtown plaza
The deal includes a prominent 94,000-square-foot building and more than 300 underground parking spots.
Foxconn gains state DNR approval to use Lake Michigan water
State of Wisconsin officials approved Mount Pleasant’s application to use up to 7 million gallons of Lake Michigan water a day for Foxconn Technology Group’s manufacturing plant and surrounding development.
The Wisconsin Department of Natural Resources approved the Lake Michigan water diversion Wednesday, according to a department release. The DNR on Tuesday separately approved air permits Foxconn needs for the first phase of its $10 billion LCD screen manufacturing plant, which is to begin…
The Pederson Group to develop $40M mixed-use project in Peoria
This high-end project will feature upscale restaurants and retail in the West Valley.
Burton Construction separates president, CEO roles, promotes founder’s son
Houston-based Burton Construction announced two top leadership changes on April 25.
Cullen Burton, son of the company’s late founder, is now the president. Shawn McAlpin, who had held the president title since 2015, has been named CEO.
“Separating the important roles of company president and CEO was a natural step to ensure the expertise and drive of both Cullen and Shawn remain at the heart of Burton as it evolves,” the company said in an April 25 press release.
Founder Brad Burton died…
3 Oahu homes sell for more than $3M in March
Three single-family homes on Oahu sold for more than $3 million in March, including a 5,000-square-foot oceanfront home on Diamond Head that sold for $15.1 million, according to a report by Coldwell Banker Pacific Properties.
A total of 38 luxury homes sold for $1.5 million or more in March, a 19 percent decline from the 47 homes that sold in March 2017. The median sales price for those homes was $1.975 million, an increase of 8 percent from $1.825 million in March 2017.
The report noted that the…