PARENT COMPANY AND REGULATORY RESTRICTIONS (Tables)

12 Months Ended

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