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PARENT COMPANY AND REGULATORY RESTRICTIONS (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of actual and required capital ratios as well as the minimum capital adequacy requirements applicable generally to all financial institutions | The following table sets forth actual and required capital and capital ratios for the Company and the bank, as well as the minimum capital adequacy requirements applicable generally to all financial institutions as of the dates indicated.
| Actual |  | Minimum required for capital adequacy purposes |  | Minimum required to be well-capitalized
| Amount |  | Ratio |  | Amount |  | Ratio (1) |  | Amount |  | Ratio
| (Dollars in thousands)
Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital to avg. assets (leverage ratio) | $ | 570,260 |  |  | 9.9 | % |  | $ | 230,847 |  |  | 4.0 | % |  |  |  |  | N/A
Tier 1 capital to risk-weighted assets | 570,260 |  |  | 13.5 |  |  | 252,921 |  |  | 6.0 |  |  |  |  |  | N/A
Total capital to risk-weighted assets | 619,419 |  |  | 14.7 |  |  | 337,228 |  |  | 8.0 |  |  |  |  |  | N/A
Common equity tier 1 ("CET1") capital to risk-weighted assets | 500,260 |  |  | 11.9 |  |  | 189,691 |  |  | 4.5 |  |  |  |  |  | N/A
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital to avg. assets (leverage ratio) | 578,607 |  |  | 10.4 |  |  | 223,646 |  |  | 4.0 |  |  |  |  |  | N/A
Tier 1 capital to risk-weighted assets | 578,607 |  |  | 14.7 |  |  | 236,721 |  |  | 6.0 |  |  |  |  |  | N/A
Total capital to risk-weighted assets | 628,068 |  |  | 15.9 |  |  | 315,628 |  |  | 8.0 |  |  |  |  |  | N/A
CET1 capital to risk-weighted assets | 490,861 |  |  | 12.4 |  |  | 177,541 |  |  | 4.5 |  |  |  |  |  | N/A
Central Pacific Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital to avg. assets (leverage ratio) | $ | 533,166 |  |  | 9.3 | % |  | $ | 230,638 |  |  | 4.0 | % |  | $ | 288,298 |  |  | 5.0 | %
Tier 1 capital to risk-weighted assets | 533,166 |  |  | 12.7 |  |  | 252,667 |  |  | 6.0 |  |  | 336,889 |  |  | 8.0 |
Total capital to risk-weighted assets | 582,325 |  |  | 13.8 |  |  | 336,889 |  |  | 8.0 |  |  | 421,111 |  |  | 10.0 |
CET1 capital to risk-weighted assets | 533,166 |  |  | 12.7 |  |  | 189,500 |  |  | 4.5 |  |  | 273,722 |  |  | 6.5 |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital to avg. assets (leverage ratio) | 565,412 |  |  | 10.1 |  |  | 223,431 |  |  | 4.0 |  |  | 279,289 |  |  | 5.0 |
Tier 1 capital to risk-weighted assets | 565,412 |  |  | 14.4 |  |  | 236,401 |  |  | 6.0 |  |  | 315,201 |  |  | 8.0 |
Total capital to risk-weighted assets | 614,732 |  |  | 15.6 |  |  | 315,201 |  |  | 8.0 |  |  | 394,002 |  |  | 10.0 |
CET1 capital to risk-weighted assets | 565,412 |  |  | 14.4 |  |  | 177,301 |  |  | 4.5 |  |  | 256,101 |  |  | 6.5 |
(1) Ratios exclude the capital conservation buffer ("CCB"). When fully phased-in on January 1, 2019, the Basel III rules will include a CCB of 2.5% that is added on top of each of the minimum risk-based capital ratios noted above (excluding the leverage ratio). The CCB is being phased in at the rate of 0.625% per year from 0.625% in 2016 to 2.50% on January 1, 2019.
Schedule of condensed balance sheets |
| December 31,
| 2018 |  | 2017
| (Dollars in thousands)
Assets |  |  |  |  |
Cash and cash equivalents | $ | 16,743 |  |  | $ | 13,931 |
Equity investment securities | 826 |  |  | 825 |
Investment in subsidiary bank, at equity in underlying net assets | 519,978 |  |  | 572,101 |
Other assets | 30,312 |  |  | 9,577 |
Total assets | $ | 567,859 |  |  | $ | 596,434 |
Liabilities and Equity |  |  |  |  |
Long-term debt | $ | 72,166 |  |  | $ | 92,785 |
Other liabilities | 3,968 |  |  | 3,614 |
Total liabilities | 76,134 |  |  | 96,399 |
Total shareholders’ equity | 491,725 |  |  | 500,011 |
Non-controlling interest | — |  |  | 24 |
Total equity | 491,725 |  |  | 500,035 |
Total liabilities and equity | $ | 567,859 |  |  | $ | 596,434 |
Schedule of condensed statements of operations |
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Income: |  |  |  |  |  |  |  |
Dividends from subsidiary bank | $ | 103,001 |  |  | $ | 43,000 |  |  | $ | 29,965 |
Interest income from subsidiary bank | 5 |  |  | 6 |  |  | 6 |
Other income | 160 |  |  | 150 |  |  | 100 |
Total income | 103,166 |  |  | 43,156 |  |  | 30,071 |
Expense: |  |  |  |  |  |  |  |
Interest expense on long-term debt | 4,338 |  |  | 3,479 |  |  | 3,005 |
Other expenses | 1,617 |  |  | 2,002 |  |  | 2,739 |
Total expenses | 5,955 |  |  | 5,481 |  |  | 5,744 |
Income before income taxes and equity in undistributed income of subsidiaries | 97,211 |  |  | 37,675 |  |  | 24,327 |
Income tax expense (benefit) | (1,261 | ) |  | (1,781 | ) |  | (2,467 | )
Income before equity in undistributed income of subsidiaries | 98,472 |  |  | 39,456 |  |  | 26,794 |
Equity in undistributed income (loss) of subsidiary bank | (38,986 | ) |  | 1,748 |  |  | 20,198 |
Net income | $ | 59,486 |  |  | $ | 41,204 |  |  | $ | 46,992 |
Schedule of condensed statements of cash flows |
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income | $ | 59,486 |  |  | $ | 41,204 |  |  | $ | 46,992 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Deferred income tax expense (benefit) | 450 |  |  | (442 | ) |  | 15,683 |
Dividends receivable from subsidiary bank | (21,004 | ) |  | — |  |  | — |
Equity in undistributed loss (income) of subsidiary bank | 38,986 |  |  | (1,748 | ) |  | (20,198 | )
Share-based compensation | 2,778 |  |  | 1,918 |  |  | 1,045 |
Other, net | (920 | ) |  | 1,357 |  |  | (697 | )
Net cash provided by operating activities | 79,776 |  |  | 42,289 |  |  | 42,825 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Distributions from unconsolidated subsidiaries | 622 |  |  | — |  |  | — |
Net cash provided by investing activities | 622 |  |  | — |  |  | — |
Cash flows from financing activities: |  |  |  |  |  |  |  |
Net proceeds from issuance of common stock and stock option exercises | — |  |  | — |  |  | 941 |
Repayments of long-term debt | (20,619 | ) |  | — |  |  | — |
Repurchases of common stock | (32,824 | ) |  | (26,559 | ) |  | (18,206 | )
Dividends paid | (24,143 | ) |  | (21,299 | ) |  | (18,619 | )
Net cash used in financing activities | (77,586 | ) |  | (47,858 | ) |  | (35,884 | )
Net increase (decrease) in cash and cash equivalents | 2,812 |  |  | (5,569 | ) |  | 6,941 |
Cash and cash equivalents at beginning of year | 13,931 |  |  | 19,500 |  |  | 12,559 |
Cash and cash equivalents at end of year | $ | 16,743 |  |  | $ | 13,931 |  |  | $ | 19,500 |

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