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For Immediate Release First Hawaiian , Inc. Reports Third Quarter 2021 Financial Results and Declares Dividend First Hawaiian , Inc. HONOLULU , Hawaii October 22 , 2021 -- ( Globe Newswire ) --First Hawaiian , Inc. ( NASDAQ : FHB ) , ( “ First Hawaiian " or the " Company " ) today reported financial results for its quarter ended September 30 , 2021 . " We are pleased with the bank's solid performance in the third quarter . It was also a milestone quarter , as total assets exceeded $ 25 billion at quarter - end for the first time in our history , " said Bob Harrison , Chairman , President and CEO . " We had good growth in deposit balances , credit quality remained excellent , and we are seeing an increase in loan activity . " On October 20 , 2021 the Company's Board of Directors declared a quarterly cash dividend of $ 0.26 per share . The dividend will be payable on December 3 , 2021 to stockholders of record at the close of business on November 22 , 2021 . Third Quarter 2021 Highlights : ● Net income of $ 64.3 million , or $ 0.50 per diluted share Total loans and leases decreased $ 269.4 million versus prior quarter , reflecting a $ 308.0 million decline in PPP loans Total deposits increased $ 1.3 billion versus prior quarter Recorded a $ 4.0 million negative provision for credit losses Board of Directors declared a quarterly dividend of $ 0.26 per share Repurchased $ 21.6 million of stock under share repurchase program Balance Sheet Total assets were $ 25.5 billion as of September 30 , 2021 , compared to $ 24.2 billion as of June 30 , 2021 . Gross loans and leases were $ 12.8 billion as of September 30 , 2021 , a decrease of $ 269.4 million , or 2.1 % , from $ 13.1 billion as of June 30 , 2021 . Total deposits were $ 22.1 billion as of September 30 , 2021 , an increase of $ 1.3 billion , or 6.2 % , from $ 20.8 billion as of June 30 , 2021 . Net Interest Income Net interest income for the third quarter of 2021 was $ 132.6 million , an increase of $ 1.1 million , or 0.8 % , compared to $ 131.5 million for the prior quarter . The net interest margin ( NIM ) was 2.36 % in the third quarter of 2021 , a decrease of 10 basis points compared to 2.46 % in the second quarter of 2021 . Provision Expense During the quarter ended September 30 , 2021 , we recorded a $ 4.0 million negative provision for credit losses . In the quarter ended June 30 , 2021 we recorded a $ 35.0 million negative provision for credit losses . Noninterest Income Noninterest income was $ 50.1 million in the third quarter of 2021 , an increase of $ 0.7 million compared to noninterest income of $ 49.4 million in the second quarter of 2021 .