Territorial Bancorp (TBNK) will raise its quarterly dividend to $0.20 per share.

The dividend is expected to be paid on February 23, 2017 to stockholders of record as of February 9, 2017.

Allan Kitagawa, Chairman and Chief Executive Officer, said, "Hawaii's strong economy has allowed us to increase the size of our loan portfolio by originating new mortgage loans, although rising interest rates may have an impact on loan volume. The growth in our loan portfolio has increased our net income and improved our performance ratios. We also increased our deposit base and look forward to opening our newest branch soon, which will be located in the rapidly growing Ala Moana area. With our strong performance, we are pleased to announce an 11.11% increase in our quarterly cash dividend from $0.18 per share to $0.20 per share. This is our 29th consecutive quarterly dividend and will be paid on February 23, 2017."

Territorial Bancorp Inc. is a bank holding company, headquartered in Honolulu, Hawaii. Its subsidiary Territorial Savings Bank provides financial services to individuals, families and businesses through its banking offices located throughout the State of Hawaii.