First Hawaiian Bank earned $51.9 million in the second quarter, unchanged from the year-earlier period, the bank reported yesterday.

Through the first six months of the year First Hawaiian earned $103.3 million, a 2.7 percent increase from the same period a year earlier.

"Despite a slowing economy, First Hawaiian continued to perform well in its two primary markets, Hawai'i and Guam," said Don Horner, the company's president and chief executive officer.

"We saw respectable growth in deposits and the quality of our assets continues to be very good."

Assets increased 5.8 percent to $12.5 billion while deposits grew by 4.5 percent to $9.1 billion. Loans and leases were up 1.8 percent to $6.2 billion, according to the bank.

The bank said its pretax earnings for the latest second quarter rose 8.7 percent to $83.4 million.

Founded in 1858, First Hawaiian is the state's largest and oldest financial institution with 62 branches in Hawai'i, Guam and Saipan.

The bank said it plans to open a state-of-the art supermarket branch at the new Safeway store in Kapahulu sometime in the fourth quarter. The company also is in the process of upgrading its flagship Waikiki branch.

First Hawaiian is a subsidiary of BancWest Corp. which is owned by Paris-based BNP Paribas.

Reach Rick Daysog at rdaysog@honoluluadvertiser.com.