In Brief | Business 2-1-13
First Hawaiian Bank reports income gain
First Hawaiian Bank has reported net income of $53.1 million for the fourth quarter 2012, a 3.1 percent gain over the comparable period of 2011. For the year, the bank’s loan and lease portfolio reached a record $9 billion, while First Hawaiian’s net income was $216.9 million, an increase of 3.8 percent over 2011.
For the 12 months ending Dec. 31, the bank achieved the following over the prior year: Total assets reached $16.6 billion, up 5.1 percent; total deposits were $12.9 billion, an increase of 6.0 percent; total loans and leases were $9 billion, up 7.5 percent; nonperforming assets to total assets remained one of the lowest in the banking industry at 0.25 percent; and its efficiency ratio was 44.31 percent making it the most productive bank in Hawaii and one of the most efficient in the nation, a press release stated.
Health care act information available
The U.S. Small Business Administration has launched a new Web page and blog dedicated to educating small business owners about the Affordable Care Act. The new tools will serve as a gateway for small business owners connecting them with information provided by SBA’s federal partners responsible for implementing the law, including the U.S. Department of Health and Human Services.
“The Affordable Care Act provides small business owners with access and opportunity to provide affordable health care options for their employees,” said SBA Administrator Karen G. Mills. “SBA’s new Affordable Care Act Web page and blog will serve as a resource for small business owners who want to learn more about how to take advantage of these benefits.”
SBA’s new Web page, sba.gov/healthcare, breaks down the key provisions of the act based on business size in the following categories: self-employed, fewer than 25 employees, fewer than 50 employees and more than 50 employees.
The page also provides links to other useful information for small businesses, including a glossary of key health care reform terms, an interactive timeline with dates for when certain reforms will be implemented, a state-by-state breakdown of health care options, and how to learn more about specific tax provisions and regulations. Additional resources will be added as they become available.
The blog, titled Health Care Business Pulse sba.gov/blog, will provide small business owners with continuous updates about the implementation of the act. The blog is for informational purposes only and is not intended as legal or tax advice.