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CENTRAL PACIFIC FINANCIAL NEWS RELEASE Central Pacific Financial Corp. Reports $ 20.8 Million Third Quarter Earnings And Increases Cash Dividend 10/27/2021 - Net income of $ 20.8 million , or $ 0.74 per diluted share . - ROA of 1.15 % and ROE of 14.83 % . - Core loans increased by $ 184.4 million in the third quarter , while PPP loans decreased by $ 215.9 million for a net decrease in total loans of $ 31.5 million from the second quarter of 2021 . - Core deposits of $ 6.09 billion increased by $ 266.6 million , or 4.6 % from the second quarter of 2021. Total deposits of $ 6.52 billion increased by $ 118.7 million , or 1.9 % from the second quarter of 2021 . - Cost of average total deposits declined to 0.05 % in the third quarter . - Board of Directors increased quarterly cash dividend by 4.2 % to $ 0.25 per share . - Repurchased 234,700 shares of the Company's common stock , at a total cost of $ 5.9 million . HONOLULU , Oct. 27 , 2021 / PRNewswire / -- Central Pacific Financial Corp. ( NYSE : CPF ) ( the " Company " ) , parent company of Central Pacific Bank ( the " Bank " ) , today reported net income in the third quarter of 2021 of $ 20.8 million , or fully diluted earnings per share ( " EPS " ) of $ 0.74 , compared to net income in the third quarter of 2020 of $ 6.9 million , or EPS of $ 0.24 , and net income in the second quarter of 2021 of $ 18.7 million , or EPS of $ 0.66 . " We are very pleased with our third quarter results which were driven by the investments in talent , technology and infrastructure we have made over the last two years , " said Paul Yonamine , Chairman and Chief Executive Officer . " Our results include solid core loan and deposit growth , as well as an increase in net interest margin . We continue to be highly focused on digital innovation and we believe our upcoming new offerings will further position us as a leader in our market . " " While we grow and innovate , we remain committed to maintaining our robust capital , liquidity and asset quality position . Additionally , we remain steadfast in our dedication to support our community's needs as we rebound from the pandemic , " said Catherine Ngo , President . On October 26 , 2021 , the Company's Board of Directors declared a quarterly cash dividend of $ 0.25 per share on its outstanding common shares . This represents a 4.2 % increase from the dividend paid of $ 0.24 per share in the third quarter of 2021 and will be payable on December 15 , 2021 to shareholders of record at the close of business on November 30 , 2021 . 1