Central Pacific Financial Corp. reported net charge-offs for the fourth quarter ended December 31, 2023. Net charge-offs totaled $5.5 million in the fourth quarter of 2023, compared to net charge-offs of $3.9 million in the previous quarter, and net charge-offs of $1.7 million in the year-ago quarter.

The increase in net charge-offs was primarily attributable to the mainland consumer loan portfolio.