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American Southwest Mortgage

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Sun American Mortgage - Reverse Mortgage Lender

Sun American Mortgage is a lender, seller and servicer of the government insured Reverse Mortgage. Over twenty years ago, we closed the first ...

Bank of Hawaii expects boost from Southwest's new flights

Bank of Hawaii is expecting to benefit from Southwest Airlines' first flights to the Aloha State even as a white-hot local housing market is beginning to show signs of cooling off.

The bank is the second-largest based in Hawaii, with $17.4 billion in assets. It reported $58.7 million in profits for the first quarter, up nearly 9% from the same period last year.

Hawaii saw a 1.8% uptick in visitors to start the year, and the tourism industry — which the bank and its commercial clients rely on — is expected to "continue performing well" in 2019, according to an economic outlook in the firm's earnings release Monday.

Yet adding more foot traffic to the islands might be crucial to that forecast as, according to the bank, tourist spending fell 2.4% early in the year even though there were more visitors.

The biggest boost is expected to come from the largest domestic carrier in the U.S. adding flights to Hawaii for the first time. Southwest began flights to the islands from California last month.

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