Central Pacific Financial Results Presentation Deck
FORWARD LOOKING STATEMENTS
This document may contain forward-looking statements concerning: projections of revenues, expenses, income or loss, earnings or loss per share, capital
expenditures, the payment or nonpayment of dividends, capital position, net interest margin or other financial items; statements of plans, objectives and
expectations of Central Pacific Financial Corp. or its management or Board of Directors, including those relating to business plans, use of capital resources, products
or services and regulatory developments and regulatory actions; statements of future economic performance including anticipated performance results from our
RISE2020 initiative; or any statements of the assumptions underlying or relating to any of the foregoing. Words such as "believes," "plans," "anticipates," "expects,
"intends," "forecasts," "hopes," "targeting," "continue," "remain," "will," "should," "estimates," "may" and other similar expressions are intended to identify forward-
looking statements but are not the exclusive means of identifying such statements.
II
While we believe that our forward-looking statements and the assumptions underlying them are reasonably based, such statements and assumptions are by their
nature subject to risks and uncertainties, and thus could later prove to be inaccurate or incorrect. Accordingly, actual results could differ materially from those
statements or projections for a variety of reasons, including, but not limited to: the adverse effects of the COVID-19 pandemic virus on local, national and
international economies, including, but not limited to, the adverse impact on tourism and construction in the State of Hawaii, our borrowers, customers, third-party
contractors, vendors and employees as well as the effects of government programs and initiatives in response to COVID-19; the increase in inventory or adverse
conditions in the real estate market and deterioration in the construction industry; adverse changes in the financial performance and/or condition of our borrowers
and, as a result, increased loan delinquency rates, deterioration in asset quality, and losses in our loan portfolio; our ability to successfully implement our RISE2020
initiative; the impact of local, national, and international economies and events (including natural disasters such as wildfires, volcanic eruptions, hurricanes,
tsunamis, storms, earthquakes and pandemic virus and disease, including COVID-19) on the Company's business and operations and on tourism, the military, and
other major industries operating within the Hawaii market and any other markets in which the Company does business; deterioration or malaise in domestic
economic conditions, including any destabilization in the financial industry and deterioration of the real estate market, as well as the impact of declining levels of
consumer and business confidence in the state of the economy in general and in financial institutions in particular; changes in estimates of future reserve
requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; the impact of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (the "Dodd-Frank Act"), changes in capital standards, other regulatory reform and federal and state legislation, including but not limited to
regulations promulgated by the Consumer Financial Protection Bureau (the "CFPB"), government-sponsored enterprise reform, and any related rules and regulations
which affect our business operations and competitiveness; the costs and effects of legal and regulatory developments, including legal proceedings or regulatory or
other governmental inquiries and proceedings and the resolution thereof, the results of regulatory examinations or reviews and the effect of, and our ability to
comply with, any regulatory orders or actions we are or may become subject to; ability to successfully implement our initiatives to lower our efficiency ratio; the
effects of and changes in trade, monetary and fiscal policies and laws, including the interest rate policies of the Board of Governors of the Federal Reserve System
(the "FRB" or the "Federal Reserve"); inflation, interest rate, securities market and monetary fluctuations, including the anticipated replacement of the London
Interbank Offered Rate ("LIBOR") Index and the impact on our loans and debt which are tied to that index; negative trends in our market capitalization and adverse
changes in the price of the Company's common stock; political instability; acts of war or terrorism; pandemic virus and disease, including COVID-19; changes in
consumer spending, borrowings and savings habits; failure to maintain effective internal control over financial reporting or disclosure controls and procedures;
cybersecurity and data privacy breaches and the consequence therefrom; the ability to address deficiencies in our internal controls over financial reporting or
disclosure controls and procedures; technological changes and developments; changes in the competitive environment among financial holding companies and other
financial service providers; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company
Accounting Oversight Board, the Financial Accounting Standards Board ("FASB") and other accounting standard setters and the cost and resources required to
implement such changes; our ability to attract and retain key personnel; changes in our organization, compensation and benefit plans; and our success at managing
the risks involved in the foregoing items.
For further information with respect to factors that could cause actual results to materially differ from the expectations or projections stated in the forward-looking
statements, please see the Company's publicly available Securities and Exchange Commission filings, including the Company's Form 10-K for the last fiscal year and,
in particular, the discussion of "Risk Factors" set forth therein. We urge investors to consider all of these factors carefully in evaluating the forward-looking
statements contained in this Form 8-K. Forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to
update any forward-looking statements to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of
unanticipated events except as required by law.
CENTRAL PACIFIC
FINANCIAL CORP
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