First Hawaiian (FHB, Financial) shares have suffered as their customers have been forced to deal with (either directly or indirectly) COVID-19's impact on travel and tourism along with the resulting hit to the Hawaiian economy. Although provisions for potential credit losses have increased, we are comfortable with the bank's ability to manage the loan book through the current crisis.
From Wallace Weitz (Trades, Portfolio)'s Hickory Fund third-quarter 2020 commentary.
