Bank of Hawaii Corp. today reported diluted earnings per share of 99 cents for the third quarter, up 3.1 percent from 96 cents per share in the same quarter last year.

The bank said it earned $47.4 million in the third quarter, down 0.8 percent from $47.8 million during the same quarter a year earlier

Financial results for the third quarter of 2008 included an $8.9 million net credit related to the company's pending resolution of sale in/lease out leases with the Internal Revenue Service. The company also increased the allowance for loan and lease losses by $13 million during the quarter.