Reported by Star-Bulletin staff & wire
Thursday, February 6, 1997
Reported by Star-Bulletin staff & wire
Thursday, February 6, 1997
Earnings at Hawaii National Bancshares Inc. declined 31.9 percent in 1996. The parent of Hawaii National Bank said it earned $711,000 last year, down from $1.044 million in 1995. Hawaii National
sees earnings drop 31.9%On a per-share basis, Hawaii National netted $1 last year, down from 1995's $1.47.
The company attributed the decline to the weak Hawaii economy, saying that many customers remain cautious about adding on more debt.
At year-end, Hawaii National had total assets of $296 million and total deposits of $265 million. The company, which operates 12 branches in the state, had total loans and leases of $207 million.
NEWARK, Calif. - Ross Stores Inc. said it plans to split its stock two for one, boost its dividend and buy back an additional 1.5 million shares. Ross Stores to
split stock, boost dividendThe discount clothing retailer also said its same-store sales, or sales in stores open at least a year, rose 15 percent in January from January 1995, according to Bloomberg News.
The split will be paid on or about March 5 to stockholders of record on Feb. 11. The board also approved a 29 percent increase in the quarterly cash dividend to 9 cents a share, or 4.5 cents a share after the stock split. The dividend will be paid on or about April 7 to stockholders of record on March 10.
Ross Stores operates about 309 off-price outlets in 18 states, including the Ross Dress for Less stores in Hawaii.
Thirty-year mortgages drop
WASHINGTON - Thirty-year, fixed-rate mortgages averaged 7.74 percent this week, down from 7.88 percent last week, according to a national survey released today by the Federal Home Loan Mortgage Corp.
to 7.74 percentOn one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.51 percent, down from 5.55 percent last week and the lowest in nine weeks. Fifteen-year mortgages averaged 7.25 percent this week, down from 7.38 percent a week earlier.
The rates do not include add-on fees known as points.
