Territorial Bancorp Management

Management criteria checks 3/4

Territorial Bancorp's CEO is Allan Kitagawa, appointed in Jan 1986, has a tenure of 38.83 years. directly owns 2.87% of the company’s shares, worth $2.68M. The average tenure of the management team and the board of directors is 28.3 years and 12 years respectively.

Key information

Allan Kitagawa

Chief executive officer

US$1.3m

Total compensation

CEO salary percentage	n/a
CEO tenure	38.8yrs
CEO ownership	2.9%
Management average tenure	28.3yrs
Board average tenure	12yrs

Recent management updates

Recent updates

Territorial Bancorp's (NASDAQ:TBNK) Shareholders Will Receive A Smaller Dividend Than Last Year

Nov 05

CEO Compensation Analysis

How has Allan Kitagawa's remuneration changed compared to Territorial Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$2m
Jun 30 2024	n/a	n/a	-US$63k
Mar 31 2024	n/a	n/a	US$2m
Dec 31 2023	US$1m	n/a	US$5m
Sep 30 2023	n/a	n/a	US$8m
Jun 30 2023	n/a	n/a	US$11m
Mar 31 2023	n/a	n/a	US$14m
Dec 31 2022	US$2m	US$851k	US$16m
Sep 30 2022	n/a	n/a	US$17m
Jun 30 2022	n/a	n/a	US$17m
Mar 31 2022	n/a	n/a	US$17m
Dec 31 2021	US$2m	US$851k	US$17m
Sep 30 2021	n/a	n/a	US$19m
Jun 30 2021	n/a	n/a	US$19m
Mar 31 2021	n/a	n/a	US$19m
Dec 31 2020	US$2m	US$851k	US$19m
Sep 30 2020	n/a	n/a	US$18m
Jun 30 2020	n/a	n/a	US$19m
Mar 31 2020	n/a	n/a	US$20m
Dec 31 2019	US$2m	US$851k	US$22m
Sep 30 2019	n/a	n/a	US$21m
Jun 30 2019	n/a	n/a	US$21m
Mar 31 2019	n/a	n/a	US$21m
Dec 31 2018	US$2m	US$851k	US$19m
Sep 30 2018	n/a	n/a	US$17m
Jun 30 2018	n/a	n/a	US$16m
Mar 31 2018	n/a	n/a	US$15m
Dec 31 2017	US$2m	US$851k	US$15m

Compensation vs Market: Allan's total compensation ($USD1.32M) is above average for companies of similar size in the US market ($USD642.87K).

Compensation vs Earnings: Allan's compensation has been consistent with company performance over the past year.

CEO

Allan Kitagawa (79 yo)

38.8yrs

Tenure

US$1,320,508

Compensation

Mr. Allan S. Kitagawa has been Chairman of the Board and Chief Executive Officer at Territorial BanCorp Inc. and Territorial Savings Bank since 1986 and has been its President since 2007. Mr. Kitagawa work...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Allan Kitagawa	Chairman	38.8yrs	US$1.32m	2.87% $ 2.7m
Vernon Hirata	Vice Chairman	17.8yrs	US$564.68k	2.01% $ 1.9m
Ralph Nakatsuka	Vice Chairman & Co-COO	17.8yrs	US$547.93k	2.1% $ 2.0m
Melvin Miyamoto	Executive VP	38.8yrs	US$272.00k	0.50% $ 469.6k
Karen Cox	Executive Vice President of Administration	40.8yrs	no data	0.57% $ 528.5k
Walter Ida	Senior VP & Director of Investor Relations	15.8yrs	no data	no data
Stanley Tanaka	Senior Vice President of Administrative	no data	no data	no data
Denise Takashima	Senior Vice President of Business Development & Marketing	no data	no data	no data
Diane Tamashiro	Executive Vice President of Finance	no data	no data	no data
Jan Loo	Senior Vice President of Electronic Banking Services	no data	no data	no data
Cyrus Robinson	Senior Vice President of Banking Services and Support	no data	no data	no data
Gary Uyehara	Senior Vice President of Administrative	no data	no data	no data

28.3yrs

Average Tenure

72yo

Average Age

Experienced Management: TBNK's management team is seasoned and experienced (28.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Allan Kitagawa	Chairman	38.8yrs	US$1.32m	2.87% $ 2.7m
Kirk Caldwell	Independent Director	17.8yrs	US$43.87k	0.40% $ 370.0k
Howard Ikeda	Independent Director	26.8yrs	US$48.96k	0.47% $ 435.6k
Jennifer Isobe	Independent Director	6.1yrs	US$40.81k	no data
John Ohama	Independent Director	5.2yrs	US$40.81k	0.12% $ 108.1k
Jan Sam	Independent Director	2.2yrs	US$40.81k	no data

12.0yrs

Average Tenure

68.5yo

Average Age

Experienced Board: TBNK's board of directors are seasoned and experienced ( 12 years average tenure).

Territorial Bancorp Management

Management criteria checks 3/4

Key information

Recent management updates

Territorial Bancorp Inc., Annual General Meeting, May 16, 2024

Insufficient new directors

Insufficient new directors

Insufficient new directors

Territorial Bancorp Inc. Announces Demise of David Murakami

Insufficient new directors

Recent updates

Territorial Bancorp Inc. Approves a Dividend, Payable on November 22, 2024

Blue Hill Advisors Advance Offer with Detailed Disclosure to Board of Territorial Bancorp Inc

Yakira Capital Management Provides Information to Shareholders of Territorial Bancorp

Yakira Capital Urges Territorial Bancorp to Reconsider Acquisition Offer From Blue Hill Advisors

Investor group comprised of Allan Landon, Blue Hill Advisors LLC and others cancelled the acquisition of Territorial Bancorp Inc. (NasdaqGS:TBNK).

Consensus EPS estimates fall by 44%

Price target increased by 24% to US$11.27

Second quarter dividend of US$0.01 announced

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Territorial Bancorp Inc. Approves Dividend, Payable on August 23, 2024

Investor sentiment improves as stock rises 20%

Upcoming dividend of CA$0.01 per share

Upcoming dividend of US$0.01 per share

Territorial Bancorp Inc. Declares Quarterly Cash Dividend, Payable on June 10, 2024

Consensus EPS estimates fall by 29%

Hope Bancorp, Inc. (NasdaqGS:HOPE) signed a definitive merger agreement to acquire Territorial Bancorp Inc. (NasdaqGS:TBNK) for $77.89 million.

Territorial Bancorp Inc., Annual General Meeting, May 16, 2024

Full year 2023 earnings: EPS misses analyst expectations

Investor sentiment deteriorates as stock falls 16%

Consensus EPS estimates fall by 38%

New major risk - Revenue and earnings growth

Fourth quarter dividend of US$0.05 announced

Full year 2023 earnings: EPS misses analyst expectations

Territorial Bancorp Inc. Approves Quarterly Cash Dividend, Payable on February 23, 2024

Investor sentiment improves as stock rises 17%

Territorial Bancorp's (NASDAQ:TBNK) Shareholders Will Receive A Smaller Dividend Than Last Year

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Territorial Bancorp Inc. Declares Quarterly Dividend, Payable on November 24, 2023

Territorial Bancorp Inc. Declares Quarterly Dividend, Payable on November 24, 2023

Price target decreased by 7.1% to US$13.00

Investor sentiment deteriorates as stock falls 20%

Consensus EPS estimates fall by 19%

Upcoming dividend of US$0.23 per share at 9.1% yield

New minor risk - Market cap size

Now 30% undervalued

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

Territorial Bancorp Inc. Approves Quarterly Cash Dividend, Payable on August 25, 2023

Price target decreased by 11% to US$18.33

Investor sentiment improves as stock rises 21%

Price target decreased by 13% to US$20.67

Consensus EPS estimates fall by 25%

Investor sentiment deteriorates as stock falls 31%

Now 43% undervalued after recent price drop

Territorial Bancorp (NASDAQ:TBNK) Is Paying Out A Dividend Of $0.23

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Consensus EPS estimates fall by 27%

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Territorial Bancorp Inc. Approves Quarterly Cash Dividend, Payable on February 23, 2023

Territorial Bancorp (NASDAQ:TBNK) Will Pay A Dividend Of $0.10

Territorial Bancorp Inc. Declares Special Dividend, Payable on December 29, 2022

Territorial Bancorp Inc. (NasdaqGS:TBNK) announces an Equity Buyback for $5 million worth of its shares.

Insufficient new directors

Upcoming dividend of US$0.23 per share

Territorial Bancorp's (NASDAQ:TBNK) Dividend Will Be $0.23

Insufficient new directors

Third quarter 2022 earnings: EPS exceeds analyst expectations

Territorial Bancorp Inc. Approves A Quarterly Cash Dividend, Expected to Be Payable on November 23, 2022

Insufficient new directors

Territorial Bancorp (NASDAQ:TBNK) Is Paying Out A Dividend Of $0.23

Territorial Bancorp Inc. Announces Demise of David Murakami

Upcoming dividend of US$0.23 per share

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Territorial Bancorp Inc. Declares Quarterly Cash Dividend, Payable on August 25, 2022

Territorial Bancorp declares $0.23 dividend

Price target decreased to US$26.33

Territorial Bancorp's (NASDAQ:TBNK) Dividend Will Be US$0.23

Upcoming dividend of US$0.23 per share

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Insufficient new directors