Equibles

8-K

BANK OF HAWAII CORP (BOH)

8-K 2026-01-26 For: 2026-01-26
View Original
Added on April 04, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report January 26, 2026
(Date of earliest event reported)

BANK OF HAWAII CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 1-6887 99-0148992
(State of Incorporation) (Commission File Number) (IRS Employer Identification No.) 130 Merchant Street Honolulu Hawaii 96813
--- --- --- ---
(Address of principal executive offices) (City) (State) (Zip Code)

(888) 643-3888

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01 per share BOH New York Stock Exchange
Depository Shares, Each Representing 1/40th Interest in a Share of 4.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A BOH.PRA New York Stock Exchange
Depository Shares, Each Representing 1/40th Interest in a Share of 8.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B BOH.PRB New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.Results of Operations and Financial Condition.

On January 26, 2026, Bank of Hawaii Corporation announced its results of operations for the quarter ended December 31, 2025. The public announcement was made by means of a press release, the text of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01.Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.
99.1 January 26, 2026 Press Release: Bank of Hawaii Corporation Fourth Quarter 2025 Financial Results. Any internet addresses provided in this release are for informational purposes only and are not intended to be hyperlinks. Furnished herewith.
99.2 Bank of Hawaii Corporation Fourth Quarter 2025 Financial Report
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 26, 2026 Bank of Hawaii Corporation
By: /s/ Patrick M. McGuirk
Patrick M. McGuirk
Vice Chair and Chief Administrative Officer

Document

Exhibit 99.1

bohnewsreleaseimage.jpg

Bank of Hawai‘i Corporation Fourth Quarter 2025 and Full Year 2025

Financial Results

•Diluted Earnings Per Common Share of $1.39 for the Fourth Quarter 2025

•Net Income of $60.9 Million for the Fourth Quarter 2025

•Net Interest Margin Increased to 2.61%, a 15 Basis Point Improvement during the Fourth Quarter 2025

•Quarterly Cost of Deposits Decreased to 1.43% Compared to 1.59% during the Linked Quarter

•Share Repurchases Resumed during the Fourth Quarter 2025

FOR IMMEDIATE RELEASE

HONOLULU, HI (January 26, 2026) -- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $4.63 for the full year of 2025, compared with $3.46 for the full year of 2024. Net income for the year was $205.9 million, up 37.3% from the previous year. The return on average common equity for the full year of 2025 was 13.29% compared with 10.85% in 2024.

Diluted earnings per common share was $1.39 for the fourth quarter of 2025, compared with $1.20 during the linked quarter and $0.85 during the same period last year. Net income for the fourth quarter of 2025 was $60.9 million, up 14.2% from the linked quarter and up 55.6% from the same period last year. The return on average common equity for the fourth quarter of 2025 was 15.03% compared with 13.59% during the linked quarter and 10.30% during the same period last year.

“Bank of Hawai‘i completed 2025 with strong financial performance,” said Peter Ho, Chairman and CEO. “We continued to deliver consistent growth in net interest income and margin for the seventh consecutive quarter. Noninterest-bearing deposit balances increased 6.6% from the linked quarter and end of period total deposits and total loans and leases increased modestly. Credit quality remains outstanding, and we continue to be disciplined in managing expenses. Our strong performance reflects the hard work and exceptional commitment of our employees, whose dedication continues to drive our success.”

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Bank of Hawai‘i Corporation Fourth Quarter 2025 Financial Results Page 2

Financial Highlights

Net interest income for the fourth quarter of 2025 was $145.4 million, an increase of 6.4% from the linked quarter and an increase of 21.0% as compared to the same period last year. The increase from the linked quarter was primarily driven by lower interest-bearing deposit rates, partially offset by a 1 basis point decline in earning asset yield, as the negative impact from floating rate assets repricing down in a lower rate environment outweighed the benefit from fixed rate assets rolling off at lower interest rates and being reinvested at higher rates (fixed-rate asset repricing). The increase from the same period last year was primarily due to lower interest-bearing deposit rates and fixed asset repricing, partially offset by floating rate assets repricing to lower interest rates.

Net interest margin was 2.61% in the fourth quarter of 2025, an increase of 15 basis points from the linked quarter and an increase of 42 basis points from the same period last year. The increase from the prior periods was primarily due to lower interest-bearing deposit rates and fixed-rate asset repricing, partially offset by floating rate assets repricing to lower interest rates.

The average yield on total earning assets was 4.07% in the fourth quarter of 2025, down 1 basis point from the linked quarter and up 10 basis points from the same period last year. The average yield on loans and leases was 4.81% in the fourth quarter of 2025, down 5 basis points from the linked quarter and up 8 basis points from the same period last year. The decrease in loan yield from the linked quarter was primarily driven by floating rate assets repricing to lower interest rates, which outweighed the benefit from fixed-rate asset repricing. The increase in loan yield from the same period last year is primarily due to new and existing loans earning higher rates than paid-off loans. The average rate of interest-bearing deposits was 1.94% in the fourth quarter of 2025, down 20 basis points from the linked quarter and down 43 basis points from the same period last year. The average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.43%, down 16 basis points from the linked quarter and down 34 basis points from the same period last year. The decreases were primarily due to lower benchmark interest rates. Deposit beta for the downward rate cycle was 31% as of the fourth quarter of 2025.

Noninterest income was $44.3 million in the fourth quarter of 2025, a decrease of 3.7% from the linked quarter and an increase of 2.8% from the same period last year. Noninterest income in the fourth quarter included a $18.1 million gain related to the sale of our merchant services portfolio, a $16.8 million loss on the sale of investments, and a $0.8 million charge related to a Visa Class B share conversion ratio change. We realized a $16.8 million loss on the sale of investments in the fourth quarter of 2025 as we replaced approximately $200 million of available-for-sale securities portfolio yielding approximately 1.5% with new securities yielding approximately 4.9%. Noninterest income in the linked quarter and same period last year also included charges related to Visa Class B share conversion ratio change of $0.8 million and $2.4 million, respectively. We sold our merchant services portfolio in the fourth quarter of 2025, which contributed approximately $3.0 million of non-recurring noninterest income in the linked quarter and the same period last year. Adjusted for these items, noninterest income was flat from the linked quarter and increased by 3.1% from the same period last year. The increase from the same period last year was due to increases in trust and asset management and other loan fees.

Noninterest expense was $109.5 million in the fourth quarter of 2025, a decrease of 2.6% from the linked quarter and an increase of 1.5% from the same period last year. Noninterest expense in the fourth quarter included a $1.4 million reduction in our FDIC special assessment charge and a $1.1 million donation to the Bank of Hawai‘i Foundation. Noninterest expense in the linked quarter included a $2.1 million severance-related charge. Noninterest expense in the linked quarter and same period last year also included approximately $2.2 million in non-recurring Merchant Services expenses. Adjusted for these items, noninterest expense increased by 1.6% from the linked quarter and increased by 3.9% from the same period last year. The increase from the linked quarter was primarily due to higher salaries and benefits and other expenses, partially offset by lower occupancy expenses. The increase from the same period last year was primarily due to higher salaries and benefits and other expenses, partially offset by lower professional fees.

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Bank of Hawai‘i Corporation Fourth Quarter 2025 Financial Results Page 3

The effective tax rate for the fourth quarter of 2025 was 21.50% compared to 21.27% during the linked quarter and 24.02% during the same period last year. Compared to the same period last year, the decrease in our effective tax rate was primarily due to a decrease in nondeductible compensation, and increases in tax benefits related to low-income housing investments, as well as a change in discrete items.

Asset Quality

The Company’s overall asset quality remained strong during the fourth quarter of 2025. Provision for credit losses for the fourth quarter of 2025 was $2.5 million, unchanged from the linked quarter and down $1.3 million from the same period last year.

Total non-performing assets were $14.2 million at December 31, 2025, down $2.7 million from September 30, 2025 and down $5.1 million from December 31, 2024. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.10% at the end of the quarter, decreases of 2 basis points and 4 basis points from the linked quarter and the same period last year, respectively.

Net loan and lease charge-offs during the fourth quarter of 2025 were $4.1 million or 12 basis points annualized of total average loans and leases outstanding. Gross charge-offs of $5.3 million were partially offset by gross recoveries of $1.2 million. Compared to the linked quarter, net loan and lease charge-offs increased by $1.6 million or 5 basis points annualized on total average loans and leases outstanding. Compared to the same period last year, net loan and lease charge-offs increased by $0.7 million or 2 basis points annualized on total average loans and leases outstanding.

The allowance for credit losses on loans and leases was $146.8 million at December 31, 2025, a decrease of $2.0 million from September 30, 2025 and a decrease of $1.8 million from December 31, 2024. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.04% at the end of the quarter, down 2 basis points from the linked quarter and the same period last year.

Balance Sheet

Total assets were $24.2 billion at December 31, 2025, an increase of 0.7% from September 30, 2025 and an increase of 2.4% from December 31, 2024. The increases from the linked quarter and same period last year were primarily due to increases in available-for-sale securities, partially offset by decreases in held-to-maturity securities.

The investment securities portfolio was $7.8 billion at December 31, 2025, an increase of 1.8% from September 30, 2025 and an increase of 6.1% from December 31, 2024. The increases from the prior periods were primarily due to the purchases of available-for-sale investment securities, partially offset by the amortization of the portfolio. The investment securities portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises.

Total loans and leases were $14.1 billion at December 31, 2025, an increase of 0.4% from September 30, 2025 and flat from December 31, 2024. Total commercial loans were $6.1 billion at December 31, 2025, a decrease of 0.1% from September 30, 2025 and a decrease of 0.6% from December 31, 2024. The decrease from the linked quarter was primarily due to loan amortization and paydowns within our construction portfolio, partially offset by commercial mortgage production. The decrease from the same period last year was primarily due to loan amortization and paydowns within our commercial and industrial and construction portfolios, partially offset by commercial mortgage production. Total consumer loans were $8.0 billion at December 31, 2025, an increase of 0.9% from the linked quarter and an increase of 0.6% from the same period last year. The increase from the linked quarter was primarily due to increased production in the residential mortgage portfolio, partially offset by amortization and paydowns in the home equity portfolio. The increase from the same period last year was primarily due to increased production in the residential mortgage portfolio, partially offset by amortization and paydowns in the automobile portfolio.

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Bank of Hawai‘i Corporation Fourth Quarter 2025 Financial Results Page 4

Total deposits were $21.2 billion at December 31, 2025, an increase of 0.5% from September 30, 2025 and an increase of 2.7% from December 31, 2024. Noninterest-bearing deposits made up 27.2% of total deposit balances at December 31, 2025, up from 25.6% at September 30, 2025 and up from 26.3% at December 31, 2024. Average total deposits were $21.0 billion for the fourth quarter of 2025, down 0.4% from the linked quarter and up 1.1% from the same period last year.

Capital and Dividends

The Company’s capital levels remain well above regulatory well-capitalized minimums.

The Tier 1 Capital Ratio was 14.49% at December 31, 2025 compared with 14.34% at September 30, 2025 and 13.95% at December 31, 2024. The increase from prior periods was due to retained earnings growth. The Tier 1 Leverage Ratio was 8.57% at December 31, 2025, compared with 8.44% at September 30, 2025 and 8.31% at December 31, 2024. The increase from the linked quarter was due to an increase in retained earnings and a decrease in average total assets. The increase from the same period last year was due to an increase in retained earnings, partially offset by an increase in average assets.

The Company repurchased 76.5 thousand shares of common stock at a total cost of $5.0 million under the share repurchase program in the fourth quarter of 2025. Total remaining buyback authority under the share repurchase program was $121.0 million at December 31, 2025.

The Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company’s outstanding common shares. The dividend will be payable on March 13, 2026 to shareholders of record at the close of business on February 27, 2026.

On January 5, 2026, the Company announced that the Board of Directors declared a quarterly dividend payment of $10.94 per share, equivalent to $0.2735 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, and a quarterly dividend payment of $20.00 per share, equivalent to $0.5000 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares representing the Series A Preferred Stock and Series B Preferred Stock are traded on the NYSE under the symbol “BOH.PRA” and “BOH.PRB”, respectively. The dividends on the Series A Preferred Stock and Series B Preferred Stock will be payable on February 2, 2026 to shareholders of record of the preferred stock as of the close of business on January 16, 2026.

Conference Call Information

The Company will review its fourth quarter financial results today at 8:00 a.m. Hawai‘i Time (1:00 p.m. Eastern Time). The live call, including a slide presentation, will be accessible on the investor relations link of Bank of Hawai‘i Corporation's website, www.boh.com. The webcast can be accessed via the link: https://register-conf.media-server.com/register/BI34f63e9b4766446cafc8f47a1a745b34. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, January 26, 2026. The replay will be available on the Company's website, www.boh.com.

Investor Announcements

Investors and others should note that the Company intends to announce financial and other information to the Company’s investors using the Company’s investor relations website at https://ir.boh.com, social media channels, press releases, SEC filings and public conference calls and webcasts, all for purposes of complying with the Company’s disclosure obligations under Regulation FD. Accordingly, investors should monitor these channels, as information is updated, and new information is posted.

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Bank of Hawai‘i Corporation Fourth Quarter 2025 Financial Results Page 5

Forward-Looking Statements

This news release, and other statements made by the Company in connection with it may contain "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties that could cause results to be materially different from expectations. Forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations are examples of certain of these forward-looking statements. Do not unduly rely on forward-looking statements. Actual results might differ significantly from our forecasts and expectations because of a variety of factors. More information about these factors is contained in Bank of Hawai‘i Corporation's Annual Report on Form 10-K for the year ended December 31, 2024 and its Form 10-Q for fiscal quarters ended March 31, 2025, June 30, 2025, and September 30, 2025 which were filed with the U.S. Securities and Exchange Commission. These forward-looking statements are not guarantees of future performance and speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

Bank of Hawai‘i Corporation is an independent regional financial services company serving businesses, consumers, and governments in Hawai‘i and the West Pacific. The Company's principal subsidiary, Bank of Hawai‘i, was founded in 1897. For more information about Bank of Hawai‘i Corporation, see the Company’s website, www.boh.com. Bank of Hawai‘i Corporation is a trade name of Bank of Hawaii Corporation.

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Bank of Hawai‘i Corporation and Subsidiaries
Financial Highlights Table 1
Three Months Ended Twelve Months Ended
(dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024
For the Period:
Operating Results
Net Interest Income $ 145,374 $ 136,675 $ 120,178 $ 537,539 $ 466,580
Provision for Credit Losses 2,500 2,500 3,750 11,500 11,150
Total Noninterest Income 44,271 45,966 43,047 179,090 172,529
Total Noninterest Expense 109,518 112,387 107,931 443,147 430,108
Pre-Provision Net Revenue 80,127 70,254 55,294 273,482 209,001
Net Income 60,935 53,345 39,162 205,902 149,994
Net Income Available to Common Shareholders 55,666 48,076 33,893 184,825 137,350
Basic Earnings Per Common Share 1.40 1.21 0.86 4.67 3.48
Diluted Earnings Per Common Share 1.39 1.20 0.85 4.63 3.46
Dividends Declared Per Common Share 0.70 0.70 0.70 2.80 2.80
Performance Ratios
Return on Average Assets 1.01 % 0.88 % 0.66 % 0.87 % 0.64 %
Return on Average Shareholders' Equity 13.33 12.10 9.42 11.86 9.78
Return on Average Common Equity 15.03 13.59 10.30 13.29 10.85
Efficiency Ratio 1 57.75 61.53 66.12 61.84 67.30
Net Interest Margin 2 2.61 2.46 2.19 2.45 2.16
Dividend Payout Ratio 3 50.00 57.85 81.40 59.96 80.46
Average Shareholders' Equity to Average Assets 7.57 7.29 6.98 7.29 6.56
Average Balances
Average Loans and Leases $ 14,013,532 $ 13,982,003 $ 13,964,687 $ 14,026,427 $ 13,868,916
Average Assets 23,958,401 23,995,037 23,682,494 23,798,535 23,362,736
Average Deposits 20,980,199 21,068,286 20,756,682 20,855,867 20,536,239
Average Shareholders' Equity 1,814,000 1,748,576 1,654,156 1,736,055 1,533,243
Per Share of Common Stock
Book Value $ 37.92 $ 36.35 $ 33.27 $ 37.92 $ 33.27
Tangible Book Value 37.12 35.56 32.47 37.12 32.47
Market Value
Closing 68.37 65.64 71.24 68.37 71.24
High 71.85 71.90 82.70 76.00 82.70
Low 59.36 60.32 60.58 57.45 54.50 December 31, 2025 September 30, 2025 December 31, 2024
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As of Period End:
Balance Sheet Totals
Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,075,980
Total Assets 24,176,364 24,014,609 23,601,114
Total Deposits 21,188,495 21,080,669 20,633,037
Other Debt 558,176 558,201 558,274
Total Shareholders' Equity 1,851,212 1,791,183 1,667,774
Asset Quality
Non-Performing Assets $ 14,171 $ 16,864 $ 19,300
Allowance for Credit Losses - Loans and Leases 146,766 148,778 148,528
Allowance to Loans and Leases Outstanding 4 1.04 % 1.06 % 1.06 %
Capital Ratios 5
Common Equity Tier 1 Capital Ratio 12.13 % 11.98 % 11.59 %
Tier 1 Capital Ratio 14.49 14.34 13.95
Total Capital Ratio 15.54 15.40 15.00
Tier 1 Leverage Ratio 8.57 8.44 8.31
Total Shareholders' Equity to Total Assets 7.66 7.46 7.07
Tangible Common Equity to Tangible Assets 6 6.11 5.90 5.48
Tangible Common Equity to Risk-Weighted Assets 6 10.35 9.95 9.08
Non-Financial Data
Full-Time Equivalent Employees 1,877 1,905 1,865
Branches 51 51 50
ATMs 320 322 317

1.Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).

2.Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.

3.Dividend payout ratio is defined as dividends declared per common share divided by basic earnings per common share.

4.The numerator comprises the Allowance for Credit Losses - Loans and Leases.

5.Regulatory capital ratios as of December 31, 2025 are preliminary.

6.Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. Tangible common equity is defined by the Company as common shareholders' equity minus goodwill. See Table 2 “Reconciliation of Non-GAAP Financial Measures”.

Bank of Hawai‘i Corporation and Subsidiaries
Reconciliation of Non-GAAP Financial Measures Table 2
(dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024
Total Shareholders' Equity $ 1,851,212 $ 1,791,183 $ 1,667,774
Less: Preferred Stock 345,000 345,000 345,000
Goodwill 31,517 31,517 31,517
Tangible Common Equity $ 1,474,695 $ 1,414,666 $ 1,291,257
Total Assets $ 24,176,364 $ 24,014,609 $ 23,601,114
Less: Goodwill 31,517 31,517 31,517
Tangible Assets $ 24,144,847 $ 23,983,092 $ 23,569,597
Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1 $ 14,246,491 $ 14,215,866 $ 14,225,908
Total Shareholders' Equity to Total Assets 7.66% 7.46% 7.07%
Tangible Common Equity to Tangible Assets (Non-GAAP) 6.11% 5.90% 5.48%
Tier 1 Capital Ratio 1 14.49% 14.34% 13.95%
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1 10.35% 9.95% 9.08%

1Regulatory capital ratios as of December 31, 2025 are preliminary.

Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of Income Table 3
Three Months Ended Twelve Months Ended
(dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024
Interest Income
Interest and Fees on Loans and Leases $ 168,234 $ 169,411 $ 164,785 $ 667,506 $ 653,615
Income on Investment Securities
Available-for-Sale 32,950 29,702 23,223 114,027 89,705
Held-to-Maturity 18,929 19,332 20,677 78,387 85,515
Cash and Cash Equivalents 5,936 8,195 9,425 23,408 30,701
Other 1,245 1,068 1,107 4,495 4,215
Total Interest Income 227,294 227,708 219,217 887,823 863,751
Interest Expense
Deposits 75,477 84,590 92,099 324,235 368,764
Securities Sold Under Agreements to Repurchase 496 496 992 2,227 4,608
Other Debt 5,947 5,947 5,948 23,822 23,799
Total Interest Expense 81,920 91,033 99,039 350,284 397,171
Net Interest Income 145,374 136,675 120,178 537,539 466,580
Provision for Credit Losses 2,500 2,500 3,750 11,500 11,150
Net Interest Income After Provision for Credit Losses 142,874 134,175 116,428 526,039 455,430
Noninterest Income
Trust and Asset Management 12,883 12,598 12,157 49,319 47,485
Fees, Exchange, and Other Service Charges 12,298 15,219 14,399 56,337 57,236
Service Charges on Deposit Accounts 8,694 8,510 8,678 33,582 32,430
Bank-Owned Life Insurance 3,758 3,681 3,283 14,764 13,568
Annuity and Insurance 1,124 1,095 1,347 5,211 5,436
Mortgage Banking 917 906 942 3,660 4,109
Investment Securities Losses, Net (18,717) (1,945) (3,306) (23,395) (7,507)
Other 23,314 5,902 5,547 39,612 19,772
Total Noninterest Income 44,271 45,966 43,047 179,090 172,529
Noninterest Expense
Salaries and Benefits 61,675 62,905 58,690 248,772 232,564
Net Equipment 10,047 10,285 10,308 40,501 40,886
Net Occupancy 10,029 10,932 10,263 42,019 42,084
Data Processing 5,659 5,603 5,313 21,985 19,540
Professional Fees 3,682 4,022 4,988 16,231 19,319
FDIC Insurance 2,378 3,508 3,711 11,168 17,850
Other 16,048 15,132 14,658 62,471 57,865
Total Noninterest Expense 109,518 112,387 107,931 443,147 430,108
Income Before Provision for Income Taxes 77,627 67,754 51,544 261,982 197,851
Provision for Income Taxes 16,692 14,409 12,382 56,080 47,857
Net Income $ 60,935 $ 53,345 $ 39,162 $ 205,902 $ 149,994
Preferred Stock Dividends 5,269 5,269 5,269 21,077 12,644
Net Income Available to Common Shareholders $ 55,666 $ 48,076 $ 33,893 $ 184,825 $ 137,350
Basic Earnings Per Common Share $ 1.40 $ 1.21 $ 0.86 $ 4.67 $ 3.48
Diluted Earnings Per Common Share $ 1.39 $ 1.20 $ 0.85 $ 4.63 $ 3.46
Dividends Declared Per Common Share $ 0.70 $ 0.70 $ 0.70 $ 2.80 $ 2.80
Basic Weighted Average Common Shares 39,641,382 39,655,741 39,513,210 39,618,830 39,450,737
Diluted Weighted Average Common Shares 40,003,635 39,980,931 39,836,758 39,934,431 39,700,388
Bank of Hawai‘i Corporation and Subsidiaries
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Consolidated Statements of Comprehensive Income Table 4
Three Months Ended Twelve Months Ended
(dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024
Net Income $ 60,935 $ 53,345 $ 39,162 $ 205,902 $ 149,994
Other Comprehensive Income (Loss), Net of Tax:
Net Change in Unrealized Gains (Losses) on Investment Securities 29,367 22,711 (7,388) 95,808 53,435
Net Change in Defined Benefit Plans 2,446 232 (641) 3,143 (136)
Other Comprehensive Income (Loss) 31,813 22,943 (8,029) 98,951 53,299
Comprehensive Income $ 92,748 $ 76,288 $ 31,133 $ 304,853 $ 203,293
Bank of Hawai‘i Corporation and Subsidiaries
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Consolidated Statements of Condition Table 5
(dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024
Assets
Cash and Cash Equivalents $ 946,520 $ 985,223 $ 763,571
Investment Securities
Available-for-Sale 3,510,652 3,280,410 2,689,528
Held-to-Maturity (Fair Value of $3,651,966; $3,717,573; and $3,820,882) 4,245,681 4,340,032 4,618,543
Loans Held for Sale 4,369 1,236 2,150
Loans and Leases 14,082,050 14,021,579 14,075,980
Allowance for Credit Losses (146,766) (148,778) (148,528)
Net Loans and Leases 13,935,284 13,872,801 13,927,452
Premises and Equipment, Net 199,747 196,093 184,480
Operating Lease Right-of-Use Assets 83,424 82,804 80,165
Accrued Interest Receivable 69,899 69,224 66,367
Mortgage Servicing Rights 17,455 17,927 19,199
Goodwill 31,517 31,517 31,517
Bank-Owned Life Insurance 499,795 494,041 481,184
Other Assets 632,021 643,301 736,958
Total Assets $ 24,176,364 $ 24,014,609 $ 23,601,114
Liabilities
Deposits
Noninterest-Bearing Demand $ 5,755,371 $ 5,400,943 $ 5,423,562
Interest-Bearing Demand 3,910,952 3,813,921 3,784,984
Savings 8,741,090 8,814,451 8,364,916
Time 2,781,082 3,051,354 3,059,575
Total Deposits 21,188,495 21,080,669 20,633,037
Securities Sold Under Agreements to Repurchase 50,000 50,000 100,000
Other Debt 558,176 558,201 558,274
Operating Lease Liabilities 92,402 91,690 88,794
Retirement Benefits Payable 20,139 23,352 23,760
Accrued Interest Payable 22,370 27,580 34,799
Other Liabilities 393,570 391,934 494,676
Total Liabilities 22,325,152 22,223,426 21,933,340
Shareholders’ Equity
Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding) 180,000 180,000 180,000
Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding) 165,000 165,000 165,000
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: December 31, 2025 - 58,780,253 / 39,725,698; September 30, 2025 - 58,779,666 / 39,785,201; and December 31, 2024 - 58,765,907 / 39,762,255) 587 587 585
Capital Surplus 664,781 659,922 647,403
Accumulated Other Comprehensive Loss (244,438) (276,251) (343,389)
Retained Earnings 2,205,707 2,178,263 2,133,838
Treasury Stock, at Cost (Shares: December 31, 2025 - 19,054,555; September 30, 2025 - 18,994,465; and December 31, 2024 - 19,003,609) (1,120,425) (1,116,338) (1,115,663)
Total Shareholders’ Equity 1,851,212 1,791,183 1,667,774
Total Liabilities and Shareholders’ Equity $ 24,176,364 $ 24,014,609 $ 23,601,114
Bank of Hawai‘i Corporation and Subsidiaries
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Consolidated Statements of Shareholders' Equity Table 6
(dollars in thousands, except per share amounts) Preferred Shares Series A Outstanding Preferred Series A Stock Preferred Shares Series B Outstanding Preferred Series B Stock Common Shares Outstanding Common Stock Capital Surplus Accum. Other Comprehensive Income (Loss) Retained Earnings Treasury Stock Total
Balance as of December 31, 2024 180,000 $ 180,000 165,000 $ 165,000 39,762,255 $ 585 $ 647,403 $ (343,389) $ 2,133,838 $ (1,115,663) $ 1,667,774
Net Income – – – – – – – – 205,902 – 205,902
Other Comprehensive Income – – – – – – – 98,951 – – 98,951
Share-Based Compensation – – – – – – 16,243 – – – 16,243
Common Stock Issued Under Purchase and Equity Compensation Plans – – – – 97,556 2 1,135 – – 4,012 5,149
Common Stock Repurchased Under Share Repurchase Program – – – – (76,547) – – – – (5,001) (5,001)
Equity Compensation Plan Common Stock Repurchases — — — — (57,566) — — — — (3,773) (3,773)
Cash Dividends Declared Common Stock ($2.80 per share) – – – – – – – – (112,956) – (112,956)
Cash Dividends Declared Preferred Stock – – – – – – – – (21,077) – (21,077)
Balance as of December 31, 2025 180,000 $ 180,000 165,000 $ 165,000 39,725,698 $ 587 $ 664,781 $ (244,438) $ 2,205,707 $ (1,120,425) $ 1,851,212
Balance as of December 31, 2023 180,000 $ 180,000 – $ – 39,753,138 $ 583 $ 636,422 $ (396,688) $ 2,107,569 $ (1,113,644) $ 1,414,242
Net Income – – – – – – – – 149,994 – 149,994
Other Comprehensive Income – – – – – – – 53,299 – – 53,299
Share-Based Compensation – – – – – – 14,444 – – – 14,444
Preferred Stock Issued, Net – – 165,000 165,000 – – (4,386) – – – 160,614
Common Stock Issued Under Purchase and Equity Compensation Plans – – – – 96,394 2 923 – 1,232 3,283 5,440
Equity Compensation Plan Common Stock Repurchases – – – – (87,277) – – – – (5,302) (5,302)
Cash Dividends Declared Common Stock ($2.80 per share) – – – – – – – – (112,313) – (112,313)
Cash Dividends Declared Preferred Stock – – – – – – – – (12,644) – (12,644)
Balance as of December 31, 2024 180,000 $ 180,000 165,000 $ 165,000 39,762,255 $ 585 $ 647,403 $ (343,389) $ 2,133,838 $ (1,115,663) $ 1,667,774
Bank of Hawai‘i Corporation and Subsidiaries
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 7a
Three Months Ended December 31, 2025 Three Months Ended September 30, 2025 Three Months Ended December 31, 2024
(dollars in millions) Average Balance Income/Expense 2 Yield/Rate Average Balance Income/Expense 2 Yield/Rate Average Balance Income/Expense 2 Yield/Rate
Earning Assets
Cash and Cash Equivalents $ 604.5 $ 6.0 3.84 % $ 744.3 $ 8.2 4.31 % $ 784.9 $ 9.4 4.70 %
Investment Securities
Available-for-Sale
Taxable 3,363.4 32.5 3.86 3,157.8 29.3 3.70 2,614.5 23.0 3.50
Non-Taxable 32.0 0.5 5.80 32.4 0.5 5.98 21.5 0.3 6.39
Held-to-Maturity
Taxable 4,265.7 18.8 1.76 4,363.9 19.2 1.76 4,636.7 20.5 1.77
Non-Taxable 33.7 0.2 2.10 33.8 0.2 2.10 34.3 0.2 2.10
Total Investment Securities 7,694.8 52.0 2.70 7,587.9 49.2 2.59 7,307.0 44.0 2.41
Loans Held for Sale 2.4 0.0 5.51 1.6 0.0 5.92 4.0 0.1 5.86
Loans and Leases 3
Commercial Mortgage 4,124.5 55.2 5.31 4,016.3 54.3 5.36 3,868.7 52.0 5.34
Commercial and Industrial 1,590.0 19.6 4.90 1,600.7 20.5 5.09 1,697.9 22.1 5.18
Construction 265.5 4.6 6.89 394.4 7.3 7.32 346.6 6.6 7.54
Commercial Lease Financing 89.7 0.9 4.19 93.0 1.0 4.11 82.9 0.7 3.62
Residential Mortgage 4,719.8 47.5 4.03 4,638.1 46.7 4.02 4,621.0 45.3 3.93
Home Equity 2,122.1 24.3 4.54 2,129.6 23.9 4.46 2,181.6 22.5 4.10
Automobile 692.7 9.6 5.49 706.9 9.5 5.35 774.4 9.5 4.90
Other 409.2 7.9 7.64 403.0 7.7 7.63 391.6 7.2 7.29
Total Loans and Leases 14,013.5 169.6 4.81 13,982.0 170.9 4.86 13,964.7 165.9 4.73
Other 82.2 1.2 6.06 65.3 1.1 6.54 65.0 1.1 6.82
Total Earning Assets 22,397.4 228.8 4.07 22,381.1 229.4 4.08 22,125.6 220.5 3.97
Non-Earning Assets 1,561.0 1,613.9 1,556.9
Total Assets $ 23,958.4 $ 23,995.0 $ 23,682.5
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand $ 3,697.9 $ 7.3 0.78 % $ 3,781.0 $ 7.8 0.81 % $ 3,655.8 $ 7.8 0.85 %
Savings 8,738.2 44.3 2.01 8,831.0 50.6 2.28 8,652.2 52.6 2.42
Time 2,974.0 23.9 3.18 3,057.6 26.2 3.40 3,142.8 31.7 4.02
Total Interest-Bearing Deposits 15,410.1 75.5 1.94 15,669.6 84.6 2.14 15,450.8 92.1 2.37
Securities Sold Under Agreements to Repurchase 50.0 0.5 3.89 50.0 0.5 3.89 100.2 1.0 3.87
Other Debt 558.2 5.9 4.23 558.3 6.0 4.23 558.3 5.9 4.24
Total Interest-Bearing Liabilities 16,018.3 81.9 2.03 16,277.9 91.1 2.22 16,109.3 99.0 2.45
Net Interest Income $ 146.9 $ 138.3 $ 121.5
Interest Rate Spread 2.04 % 1.86 % 1.52 %
Net Interest Margin 2.61 % 2.46 % 2.19 %
Noninterest-Bearing Demand Deposits 5,570.1 5,398.7 5,305.9
Other Liabilities 556.0 569.8 613.1
Shareholders' Equity 1,814.0 1,748.6 1,654.2
Total Liabilities and Shareholders' Equity $ 23,958.4 $ 23,995.0 $ 23,682.5

1Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.

2Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1.6 million, $1.7 million, and $1.3 million for the three months ended December 31, 2025, September 30, 2025, and December 31, 2024, respectively.

3Non-performing loans and leases are included in the respective average loan and lease balances.

Bank of Hawai‘i Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 7b
Twelve Months Ended December 31, 2025 Twelve Months Ended December 31, 2024
(dollars in millions) Average Balance Income/Expense 2 Yield/Rate Average Balance Income/Expense 2 Yield/Rate
Earning Assets
Cash and Cash Equivalents $ 551.4 $ 23.4 4.24 % $ 594.1 $ 30.7 5.17 %
Investment Securities
Available-for-Sale
Taxable 3,076.5 112.7 3.66 2,433.8 89.3 3.67
Non-Taxable 28.3 1.7 5.83 9.2 0.6 6.05
Held-to-Maturity
Taxable 4,409.2 77.8 1.77 4,783.5 84.9 1.78
Non-Taxable 33.9 0.7 2.10 34.5 0.7 2.10
Total Investment Securities 7,547.9 192.9 2.56 7,261.0 175.5 2.42
Loans Held for Sale 2.1 0.2 5.78 2.9 0.2 6.05
Loans and Leases 3
Commercial Mortgage 4,045.5 215.7 5.33 3,763.6 205.9 5.47
Commercial and Industrial 1,640.2 82.5 5.03 1,679.8 89.2 5.31
Construction 341.1 24.6 7.21 333.4 25.6 7.66
Commercial Lease Financing 91.8 3.7 4.05 65.1 1.7 2.68
Residential Mortgage 4,650.5 184.6 3.97 4,614.8 182.4 3.95
Home Equity 2,136.8 94.0 4.40 2,217.5 87.8 3.96
Automobile 720.4 37.9 5.26 803.6 37.0 4.61
Other 400.1 30.2 7.55 391.1 27.4 7.01
Total Loans and Leases 14,026.4 673.2 4.80 13,868.9 657.0 4.74
Other 69.5 4.5 6.47 63.2 4.2 6.66
Total Earning Assets 22,197.3 894.2 4.03 21,790.1 867.6 3.98
Non-Earning Assets 1,601.2 1,572.6
Total Assets $ 23,798.5 $ 23,362.7
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand $ 3,739.3 $ 29.7 0.79 % $ 3,745.9 $ 33.2 0.89 %
Savings 8,674.1 190.2 2.19 8,362.3 209.7 2.51
Time 3,029.6 104.3 3.44 3,042.3 125.9 4.14
Total Interest-Bearing Deposits 15,443.0 324.2 2.10 15,150.5 368.8 2.43
Securities Sold Under Agreements to Repurchase 56.6 2.2 3.94 118.2 4.6 3.90
Other Debt 563.2 23.9 4.23 560.4 23.8 4.25
Total Interest-Bearing Liabilities 16,062.8 350.3 2.18 15,829.1 397.2 2.51
Net Interest Income $ 543.9 $ 470.4
Interest Rate Spread 1.85 % 1.47 %
Net Interest Margin 2.45 % 2.16 %
Noninterest-Bearing Demand Deposits 5,412.9 5,385.8
Other Liabilities 586.7 614.6
Shareholders' Equity 1,736.1 1,533.2
Total Liabilities and Shareholders' Equity $ 23,798.5 $ 23,362.7

1.Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.

2.Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $6.4 million and $3.8 million for the twelve months ended December 31, 2025 and December 31, 2024, respectively.

3.Non-performing loans and leases are included in the respective average loan and lease balances.

Bank of Hawai‘i Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8a
Three Months Ended December 31, 2025
Compared to September 30, 2025
(dollars in millions) Volume 1 Rate 1 Total
Change in Interest Income:
Cash and Cash Equivalents $ (1.4) $ (0.9) $ (2.3)
Investment Securities
Available-for-Sale
Taxable 2.0 1.3 3.3
Non-Taxable (0.1) 0.0 (0.1)
Held-to-Maturity
Taxable (0.4) 0.0 (0.4)
Non-Taxable 0.0 0.0 0.0
Total Investment Securities 1.5 1.3 2.8
Loans Held for Sale 0.0 0.1 0.1
Loans and Leases
Commercial Mortgage 1.5 (0.6) 0.9
Commercial and Industrial (0.1) (0.8) (0.9)
Construction (2.3) (0.4) (2.7)
Commercial Lease Financing 0.0 0.0 0.0
Residential Mortgage 0.8 0.1 0.9
Home Equity (0.1) 0.4 0.3
Automobile (0.2) 0.2 0.0
Other 0.1 0.1 0.2
Total Loans and Leases (0.3) (1.0) (1.3)
Other 0.5 (0.3) 0.2
Total Change in Interest Income 0.3 (0.8) (0.5)
Change in Interest Expense:
Interest-Bearing Deposits
Demand (0.2) (0.3) (0.5)
Savings (0.5) (5.8) (6.3)
Time (0.7) (1.6) (2.3)
Total Interest-Bearing Deposits (1.4) (7.7) (9.1)
Securities Sold Under Agreements to Repurchase — — —
Other Debt — — —
Total Change in Interest Expense (1.4) (7.7) (9.1)
Change in Net Interest Income $ 1.7 $ 6.9 $ 8.6

1The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.

Bank of Hawai‘i Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8b
Three Months Ended December 31, 2025
Compared to December 31, 2024
(dollars in millions) Volume 1 Rate 1 Total
Change in Interest Income:
Cash and Cash Equivalents $ (2.0) $ (1.5) $ (3.5)
Investment Securities
Available-for-Sale
Taxable 7.1 2.5 9.6
Non-Taxable 0.1 0.0 0.1
Held-to-Maturity
Taxable (1.6) (0.1) (1.7)
Non-Taxable 0.0 — 0.0
Total Investment Securities 5.6 2.4 8.0
Loans Held for Sale 0.0 0.0 0.0
Loans and Leases
Commercial Mortgage 3.6 (0.4) 3.2
Commercial and Industrial (1.3) (1.1) (2.4)
Construction (1.5) (0.5) (2.0)
Commercial Lease Financing 0.1 0.1 0.2
Residential Mortgage 1.0 1.1 2.1
Home Equity (0.6) 2.4 1.8
Automobile (1.1) 1.1 0.0
Other 0.4 0.4 0.8
Total Loans and Leases 0.6 3.1 3.7
Other 0.6 (0.5) 0.1
Total Change in Interest Income 4.8 3.5 8.3
Change in Interest Expense:
Interest-Bearing Deposits
Demand 0.1 (0.7) (0.6)
Savings 0.5 (8.7) (8.2)
Time (1.6) (6.2) (7.8)
Total Interest-Bearing Deposits (1.0) (15.6) (16.6)
Securities Sold Under Agreements to Repurchase (0.5) 0.0 (0.5)
Other Debt — 0.0 0.0
Total Change in Interest Expense (1.5) (15.6) (17.1)
Change in Net Interest Income $ 6.3 $ 19.1 $ 25.4

1The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.

Bank of Hawai‘i Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8c
Twelve Months Ended December 31, 2025
Compared to December 31, 2024
(dollars in millions) Volume 1 Rate 1 Total
Change in Interest Income:
Cash and Cash Equivalents $ (2.1) $ (5.2) $ (7.3)
Investment Securities
Available-for-Sale
Taxable 23.6 (0.1) 23.5
Non-Taxable 1.1 0.0 1.1
Held-to-Maturity
Taxable (6.6) (0.5) (7.1)
Non-Taxable (0.1) — (0.1)
Total Investment Securities 18.0 (0.6) 17.4
Loans Held for Sale (0.1) 0.0 (0.1)
Loans and Leases
Commercial Mortgage 15.1 (5.3) 9.8
Commercial and Industrial (2.1) (4.6) (6.7)
Construction 0.6 (1.6) (1.0)
Commercial Lease Financing 1.6 0.4 2.0
Residential Mortgage 1.4 0.9 2.3
Home Equity (3.3) 9.5 6.2
Automobile (4.0) 4.9 0.9
Other 0.6 2.2 2.8
Total Loans and Leases 9.9 6.4 16.3
Other 0.4 (0.1) 0.3
Total Change in Interest Income 26.1 0.5 26.6
Change in Interest Expense:
Interest-Bearing Deposits
Demand (0.1) (3.4) (3.5)
Savings 7.6 (27.0) (19.4)
Time (0.5) (21.1) (21.6)
Total Interest-Bearing Deposits 7.0 (51.5) (44.5)
Securities Sold Under Agreements to Repurchase (2.4) 0.0 (2.4)
Other Debt 0.1 (0.1) 0.0
Total Change in Interest Expense 4.7 (51.6) (46.9)
Change in Net Interest Income $ 21.4 $ 52.1 $ 73.5

1.The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.

Bank of Hawai‘i Corporation and Subsidiaries
Salaries and Benefits Table 9
Three Months Ended Twelve Months Ended
(dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024
Salaries $ 39,915 $ 40,428 $ 38,852 $ 158,229 $ 154,538
Incentive Compensation 4,535 4,280 4,423 19,455 15,708
Share-Based Compensation 4,379 3,979 3,208 15,527 13,667
Retirement and Other Benefits 4,378 3,895 3,456 17,228 15,408
Medical, Dental, and Life Insurance 3,916 3,908 4,965 15,971 14,900
Payroll Taxes 2,740 2,998 2,593 13,502 13,232
Commission Expense 1,670 1,326 1,085 5,172 3,575
Separation Expense 142 2,091 108 3,688 1,536
Total Salaries and Benefits $ 61,675 $ 62,905 $ 58,690 $ 248,772 $ 232,564
Bank of Hawai‘i Corporation and Subsidiaries
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Loan and Lease Portfolio Balances Table 10
(dollars in thousands) December 31,<br>2025 September 30,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024
Commercial
Commercial Mortgage $ 4,205,791 $ 4,040,711 $ 4,038,956 $ 4,038,287 $ 4,020,622
Commercial and Industrial 1,584,245 1,581,232 1,597,560 1,703,290 1,705,133
Construction 208,584 380,944 374,768 363,716 308,898
Lease Financing 88,303 92,213 92,842 92,456 90,756
Total Commercial 6,086,923 6,095,100 6,104,126 6,197,749 6,125,409
Consumer
Residential Mortgage 4,775,502 4,685,214 4,637,014 4,630,876 4,628,283
Home Equity 2,114,809 2,129,599 2,139,025 2,144,955 2,165,514
Automobile 690,376 699,244 715,688 740,390 764,146
Other 414,440 412,422 406,325 401,353 392,628
Total Consumer 7,995,127 7,926,479 7,898,052 7,917,574 7,950,571
Total Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,002,178 $ 14,115,323 $ 14,075,980
Deposits
--- --- --- --- --- --- --- --- --- --- ---
(dollars in thousands) December 31,<br>2025 September 30,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024
Consumer $ 10,466,617 $ 10,393,932 $ 10,429,271 $ 10,522,627 $ 10,397,777
Commercial 8,597,265 8,348,396 8,243,898 8,411,838 8,299,590
Public and Other 2,124,613 2,338,341 2,125,745 2,073,752 1,935,670
Total Deposits $ 21,188,495 $ 21,080,669 $ 20,798,914 $ 21,008,217 $ 20,633,037
Average Deposits
--- --- --- --- --- --- --- --- --- --- ---
Three Months Ended
(dollars in thousands) December 31,<br>2025 September 30,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024
Consumer $ 10,373,200 $ 10,387,715 $ 10,435,867 $ 10,408,747 $ 10,327,928
Commercial 8,478,592 8,504,078 8,316,893 8,318,182 8,564,213
Public and Other 2,128,407 2,176,493 1,946,933 1,942,610 1,864,541
Total Deposits $ 20,980,199 $ 21,068,286 $ 20,699,693 $ 20,669,539 $ 20,756,682
Bank of Hawai‘i Corporation and Subsidiaries
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More Table 11
(dollars in thousands) December 31,<br>2025 September 30,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial
Commercial Mortgage $ 2,085 $ 2,498 $ 2,566 $ 2,195 $ 2,450
Commercial and Industrial 1,940 3,506 3,744 3,451 4,627
Total Commercial 4,025 6,004 6,310 5,646 7,077
Consumer
Residential Mortgage 5,382 5,628 5,842 4,686 5,052
Home Equity 4,469 5,107 5,387 5,759 4,514
Total Consumer 9,851 10,735 11,229 10,445 9,566
Total Non-Accrual Loans and Leases 13,876 16,739 17,539 16,091 16,643
Foreclosed Real Estate 295 125 342 1,360 2,657
Total Non-Performing Assets $ 14,171 $ 16,864 $ 17,881 $ 17,451 $ 19,300
Accruing Loans and Leases Past Due 90 Days or More
Consumer
Residential Mortgage $ 8,834 $ 7,456 $ 9,070 $ 3,895 $ 3,984
Home Equity 2,152 2,765 1,867 2,228 2,845
Automobile 520 525 680 486 776
Other 753 578 630 943 677
Total Consumer 12,259 11,324 12,247 7,552 8,282
Total Accruing Loans and Leases Past Due 90 Days or More $ 12,259 $ 11,324 $ 12,247 $ 7,552 $ 8,282
Total Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,002,178 $ 14,115,323 $ 14,075,980
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases 0.10 % 0.12 % 0.13 % 0.11 % 0.12 %
Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate 0.10 % 0.12 % 0.13 % 0.12 % 0.14 %
Ratio of Non-Performing Assets to Total Assets 0.06 % 0.07 % 0.08 % 0.07 % 0.08 %
Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate 0.07 % 0.10 % 0.10 % 0.09 % 0.12 %
Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate 0.13 % 0.14 % 0.15 % 0.15 % 0.15 %
Ratio of Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More to Total Loans and Leases and Foreclosed Real Estate 0.19 % 0.20 % 0.22 % 0.18 % 0.20 %
Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter $ 16,864 $ 17,881 $ 17,451 $ 19,300 $ 19,781
Additions 1 2,608 959 3,522 2,209 2,198
Reductions
Payments (2,631) (804) (1,424) (1,212) (708)
Return to Accrual Status (1,217) (321) (574) (244) (476)
Sales of Foreclosed Real Estate (120) (216) (1,040) (1,492) -
Charge-offs / Write-downs 1 (1,333) (635) (54) (1,110) (1,495)
Total Reductions (5,301) (1,976) (3,092) (4,058) (2,679)
Balance at End of Quarter $ 14,171 $ 16,864 $ 17,881 $ 17,451 $ 19,300

1Excludes loans that are fully charged-off and placed on non-accrual status during the same period.

Bank of Hawai‘i Corporation and Subsidiaries
Reserve for Credit Losses Table 12
Three Months Ended Twelve Months Ended
(dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024
Balance at Beginning of Period $ 150,051 $ 150,128 $ 150,325 $ 150,649 $ 152,429
Loans and Leases Charged-Off
Commercial
Commercial and Industrial (1,331) (171) (353) (3,107) (2,609)
Consumer
Residential Mortgage — — (337) — (385)
Home Equity (165) (28) (339) (423) (701)
Automobile (1,654) (1,368) (1,548) (6,026) (5,342)
Other (2,192) (2,392) (2,637) (9,465) (10,099)
Total Loans and Leases Charged-Off (5,342) (3,959) (5,214) (19,021) (19,136)
Recoveries on Loans and Leases Previously Charged-Off
Commercial
Commercial and Industrial 92 98 387 345 832
Consumer
Residential Mortgage 11 58 150 91 303
Home Equity 88 177 177 573 792
Automobile 517 559 609 2,266 2,168
Other 486 490 465 2,000 2,111
Total Recoveries on Loans and Leases Previously Charged-Off 1,194 1,382 1,788 5,275 6,206
Net Charged-Off - Loans and Leases (4,148) (2,577) (3,426) (13,746) (12,930)
Provision for Credit Losses:
Loans and Leases 2,136 2,812 4,623 11,984 15,055
Unfunded Commitments 364 (312) (873) (484) (3,905)
Total Provision for Credit Losses 2,500 2,500 3,750 11,500 11,150
Balance at End of Period $ 148,403 $ 150,051 $ 150,649 $ 148,403 $ 150,649
Components
Allowance for Credit Losses - Loans and Leases $ 146,766 $ 148,778 $ 148,528 $ 146,766 $ 148,528
Reserve for Unfunded Commitments 1,637 1,273 2,121 1,637 2,121
Total Reserve for Credit Losses $ 148,403 $ 150,051 $ 150,649 $ 148,403 $ 150,649
Average Loans and Leases Outstanding $ 14,013,532 $ 13,982,003 $ 13,964,687 $ 14,026,427 $ 13,868,916
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized) 0.12 % 0.07 % 0.10 % 0.10 % 0.09 %
Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1 1.04 % 1.06 % 1.06 % 1.04 % 1.06 %

1The numerator comprises the Allowance for Credit Losses - Loans and Leases.

Bank of Hawai‘i Corporation and Subsidiaries
Business Segments Selected Financial Information Table 13
(dollars in thousands) Consumer Banking Commercial Banking Treasury and Other Consolidated Total
Three Months Ended December 31, 2025
Net Interest Income (Expense) $ 97,044 $ 56,365 $ (8,035) $ 145,374
Provision for (Recapture of) Credit Losses 3,059 1,088 (1,647) 2,500
Net Interest Income (Expense) After Provision for Credit Losses 93,985 55,277 (6,388) 142,874
Noninterest Income 34,574 23,638 (13,941) 44,271
Salaries and Benefits 21,318 4,434 35,923 61,675
Net Occupancy 6,977 395 2,657 10,029
Other Noninterest Expense 61,042 11,156 (34,384) 37,814
Noninterest Expense 89,337 15,985 4,196 109,518
Income (Loss) Before Provision for Income Taxes 39,222 62,930 (24,525) 77,627
Provision (Benefit) for Income Taxes 9,929 16,284 (9,521) 16,692
Net Income (Loss) $ 29,293 $ 46,646 $ (15,004) $ 60,935
Total Assets as of December 31, 2025 $ 8,337,939 $ 6,125,727 $ 9,712,698 $ 24,176,364
Three Months Ended December 31, 2024 ¹
Net Interest Income (Expense) $ 98,019 $ 53,516 $ (31,357) $ 120,178
Provision for (Recapture of) Credit Losses 3,751 (326) 325 3,750
Net Interest Income (Expense) After Provision for Credit Losses 94,268 53,842 (31,682) 116,428
Noninterest Income 34,800 7,490 757 43,047
Salaries and Benefits 19,984 4,799 33,907 58,690
Net Occupancy 7,074 474 2,715 10,263
Other Noninterest Expense 58,458 13,601 (33,081) 38,978
Noninterest Expense 85,516 18,874 3,541 107,931
Income (Loss) Before Provision for Income Taxes 43,552 42,458 (34,466) 51,544
Provision (Benefit) for Income Taxes 11,136 10,819 (9,573) 12,382
Net Income (Loss) $ 32,416 $ 31,639 $ (24,893) $ 39,162
Total Assets as of December 31, 2024 $ 8,288,997 $ 6,145,162 $ 9,166,955 $ 23,601,114
Twelve Months Ended December 31, 2025
Net Interest Income (Expense) $ 383,955 $ 220,084 $ (66,500) $ 537,539
Provision for (Recapture of) Credit Losses 11,551 2,194 (2,245) 11,500
Net Interest Income (Expense) After Provision for Credit Losses 372,404 217,890 (64,255) 526,039
Noninterest Income 135,923 47,086 (3,919) 179,090
Salaries and Benefits 84,773 19,834 144,165 248,772
Net Occupancy 28,578 1,593 11,848 42,019
Other Noninterest Expense 236,285 52,332 (136,261) 152,356
Noninterest Expense 349,636 73,759 19,752 443,147
Income (Loss) Before Provision for Income Taxes 158,691 191,217 (87,926) 261,982
Provision (Benefit) for Income Taxes 40,291 49,097 (33,308) 56,080
Net Income (Loss) $ 118,400 $ 142,120 $ (54,618) $ 205,902
Total Assets as of December 31, 2025 $ 8,337,939 $ 6,125,727 $ 9,712,698 $ 24,176,364
Twelve Months Ended December 31, 2024 ¹
Net Interest Income (Expense) $ 391,137 $ 206,450 $ (131,007) $ 466,580
Provision for (Recapture of) Credit Losses 11,969 913 (1,732) 11,150
Net Interest Income (Expense) After Provision for Credit Losses 379,168 205,537 (129,275) 455,430
Noninterest Income 134,568 28,768 9,193 172,529
Salaries and Benefits 81,477 20,436 130,651 232,564
Net Occupancy 27,551 1,816 12,717 42,084
Other Noninterest Expense 230,916 52,100 (127,556) 155,460
Noninterest Expense 339,944 74,352 15,812 430,108
Income (Loss) Before Provision for Income Taxes 173,792 159,953 (135,894) 197,851
Provision (Benefit) for Income Taxes 44,290 40,530 (36,963) 47,857
Net Income (Loss) $ 129,502 $ 119,423 $ (98,931) $ 149,994
Total Assets as of December 31, 2024 $ 8,288,997 $ 6,145,162 $ 9,166,955 $ 23,601,114

1Certain prior period information has been reclassified to conform to current presentation.

Bank of Hawai‘i Corporation and Subsidiaries
Selected Quarterly Financial Data Table 14
Three Months Ended
(dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024
Quarterly Operating Results
Interest Income
Interest and Fees on Loans and Leases $ 168,234 $ 169,411 $ 166,779 $ 163,082 $ 164,785
Income on Investment Securities
Available-for-Sale 32,950 29,702 27,007 24,368 23,223
Held-to-Maturity 18,929 19,332 19,835 20,291 20,677
Cash and Cash Equivalents 5,936 8,195 3,817 5,460 9,425
Other 1,245 1,068 1,097 1,085 1,107
Total Interest Income 227,294 227,708 218,535 214,286 219,217
Interest Expense
Deposits 75,477 84,590 82,476 81,692 92,099
Securities Sold Under Agreements to Repurchase 496 496 491 744 992
Other Debt 5,947 5,947 5,885 6,043 5,948
Total Interest Expense 81,920 91,033 88,852 88,479 99,039
Net Interest Income 145,374 136,675 129,683 125,807 120,178
Provision for Credit Losses 2,500 2,500 3,250 3,250 3,750
Net Interest Income After Provision for Credit Losses 142,874 134,175 126,433 122,557 116,428
Noninterest Income
Trust and Asset Management 12,883 12,598 12,097 11,741 12,157
Fees, Exchange, and Other Service Charges 12,298 15,219 14,383 14,437 14,399
Service Charges on Deposit Accounts 8,694 8,510 8,119 8,259 8,678
Bank-Owned Life Insurance 3,758 3,681 3,714 3,611 3,283
Annuity and Insurance 1,124 1,095 1,437 1,555 1,347
Mortgage Banking 917 906 849 988 942
Investment Securities Losses, Net (18,717) (1,945) (1,126) (1,607) (3,306)
Other 23,314 5,902 5,322 5,074 5,547
Total Noninterest Income 44,271 45,966 44,795 44,058 43,047
Noninterest Expense
Salaries and Benefits 61,675 62,905 61,308 62,884 58,690
Net Equipment 10,047 10,285 9,977 10,192 10,308
Net Occupancy 10,029 10,932 10,499 10,559 10,263
Data Processing 5,659 5,603 5,456 5,267 5,313
Professional Fees 3,682 4,022 4,263 4,264 4,988
FDIC Insurance 2,378 3,508 3,640 1,642 3,711
Other 16,048 15,132 15,640 15,651 14,658
Total Noninterest Expense 109,518 112,387 110,783 110,459 107,931
Income Before Provision for Income Taxes 77,627 67,754 60,445 56,156 51,544
Provision for Income Taxes 16,692 14,409 12,808 12,171 12,382
Net Income $ 60,935 $ 53,345 $ 47,637 $ 43,985 $ 39,162
Preferred Stock Dividends 5,269 5,269 5,269 5,269 5,269
Net Income Available to Common Shareholders $ 55,666 $ 48,076 $ 42,368 $ 38,716 $ 33,893
Basic Earnings Per Common Share $ 1.40 $ 1.21 $ 1.07 $ 0.98 $ 0.86
Diluted Earnings Per Common Share $ 1.39 $ 1.20 $ 1.06 $ 0.97 $ 0.85
Balance Sheet Totals
Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,002,178 $ 14,115,323 $ 14,075,980
Total Assets 24,176,364 24,014,609 23,709,752 23,885,056 23,601,114
Total Deposits 21,188,495 21,080,669 20,798,914 21,008,217 20,633,037
Total Shareholders' Equity 1,851,212 1,791,183 1,743,107 1,704,935 1,667,774
Performance Ratios
Return on Average Assets 1.01 % 0.88 % 0.81 % 0.75 % 0.66 %
Return on Average Shareholders' Equity 13.33 12.10 11.21 10.65 9.42
Return on Average Common Equity 15.03 13.59 12.50 11.80 10.30
Efficiency Ratio 1 57.75 61.53 63.49 65.03 66.12
Net Interest Margin 2 2.61 2.46 2.39 2.32 2.19

1Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).

2Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.

Bank of Hawai‘i Corporation and Subsidiaries
Hawaii Economic Trends Table 15
Nine Months Ended Year Ended
(dollars in millions, jobs in thousands, 1-year percentage change) September 30, 2025 1 December 31, 2024 December 31, 2023
Hawaii Economic Trends
State General Fund Revenues 2 $ 7,240.5 (7.1) % $ 10,124.9 6.5 % $ 9,504.1 0.7 %
General Excise and Use Tax Revenue 2 3,614.4 4.7 4,495.0 0.5 4,474.1 4.9
Jobs 3 669.8 661.6 657.7
November 30, December 31,
2025 2024 2023
Unemployment, seasonally adjusted 3
Statewide 2.2 % 3.0 % 3.0 %
Honolulu County 2.1 2.9 2.5
Hawaii County 2.6 3.4 2.9
Maui County 2.7 3.7 5.8
Kauai County 2.0 3.0 2.5
December 31,
(1-year percentage change, except months of inventory) 2025 2024 2023 2022
Housing Trends (Single Family Oahu) 4
Median Home Price 3.5 % 4.8 % (5.0) % 11.6 %
Home Sales Volume (units) 3.5 % 9.1 % (26.3) % (23.2) %
Months of Inventory 2.6 2.9 2.8 2.1 (in thousands, except percentage change) Monthly Visitor Arrivals,<br>Not Seasonally Adjusted Percentage Change<br>from Previous Year
--- --- --- ---
Tourism 5
November 30, 2025 728.1 (3.7) %
October 31, 2025 727.2 (1.2)
September 30, 2025 674.9 (2.2)
August 31, 2025 806.8 (2.6)
July 31, 2025 870.8 (4.6)
June 30, 2025 855.7 (1.9)
May 31, 2025 766.4 1.1
April 30, 2025 810.3 9.4
March 31, 2025 890.0 2.8
February 28, 2025 739.7 (1.7)
January 31, 2025 773.1 3.7
December 31, 2024 892.0 5.3
November 30, 2024 755.8 4.8
October 31, 2024 736.1 5.1
September 30, 2024 690.2 6.5
August 31, 2024 828.3 8.1
July 31, 2024 912.8 (1.9)
June 30, 2024 872.6 (1.5)
May 31, 2024 757.8 (4.1)
April 30, 2024 740.7 (8.1)
March 31, 2024 865.8 (3.0)
February 29, 2024 752.7 2.6
January 31, 2024 745.6 (3.8)
December 31, 2023 847.3 (1.3)

1Based on the latest complete available data

2Source: Hawaii Department of Business, Economic Development & Tourism

3Source: U.S. Bureau of Labor Statistics

4Source: Honolulu Board of Realtors

5Source: Hawaii Tourism Authority

ex992bohearningspresenta

Bank of Hawai‘i Corporation fourth quarter 2025 financial report January 26, 2026

this presentation, and other statements made by the Company in connection with it, may contain forward-looking statements concerning, among other things, forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations. we have not committed to update forward-looking statements to reflect later events or circumstances disclosure 2 forward-looking statements

diversified, lower risk loan assets fourth quarter 2025 highlights broad & deep market penetration stable b lance sheet performance earnings highlights strong credit credit remains pristine • end of period total deposits and total loans and leases increased modestly • noninterest-bearing demand increased by 6.6% from the linked quarter, leading to positive deposit mix shift • tier 1 capital ratio of 14.49% and total capital ratio of 15.54% • total common equity to tangible assets increased to 6.11% from 5.90% • $1.39 diluted earnings per common share • $60.9 million net income • net interest margin expanded for the seventh consecutive quarter to 2.61% from 2.46% • average cost of total deposits decreased to 1.43% from 1.59% • spot cost of total deposits decreased to 1.30% • return on average common equity increased to 15.03% from 13.59% • return on average assets increased to 1.01% from 0.88% • share buybacks resumed in the fourth quarter of 2025 • 0.12% net charge-off rate • 0.10% non-performing assets • 80% of loan portfolio real estate-secured with wtd avg LTV of 51% note: changes are in comparison to linked quarter unless specified otherwise 3

unique business model superior risk adjusted returns over time • attractive core market • dominant market position • fortress risk profile 4

5 unmatched brand awareness – total unaided 58% 67% 70% 67% 66% 69% 71% 76% 79% 81% 82% 79% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 BOH vs three closest competitors BOH competitor #1 competitor #2 competitor #3 Q. when you think of financial services companies in Hawai‘i, what company comes to mind? any others? source: blind study commissioned by Bank of Hawai‘i with a leading third-party professional research company based in Hawai‘i. hybrid (telephone and online) target sample of 400 adult Hawai‘i residents per quarter, primary or shared financial decision-makers in household, and have a checking or savings account with any financial institution.

leader in a unique deposit market the leader in a unique deposit market with five local competitors holding 95% of the bank deposit market, with consistent long-term growth BOH 28.3% FHB 30.5% ASB 18.2% CPF 14.4% TBNK 4.2% other 4.4% 2005 BOH 34.1% FHB 32.5%ASB 14.4% CPF 11.7% TBNK 2.9% other 4.4% 2024 BOH 34.5% FHB 32.1%ASB 14.2% CPF 11.6% TBNK 3.0% other 4.6% 2025 BOH 6.1% FHB 1.6% CPF -2.8% ASB -3.9% TBNK -1.2% -8% -6% -4% -2% 0% 2% 4% 6% 8% ch an ge in m a rk e t s h ar e si n ce 2 0 05 6source: FDIC Annual Summary of Deposits as of June 30, 2020, June 30, 2024 and June 30, 2025. TBNK acquired by HOPE in April 2025. numbers may not add up due to rounding

cost of funds interest-bearing deposits 0.07% 0.11% 0.30% 0.69% 1.09% 1.54% 1.95% 2.30% 2.39% 2.46% 2.52% 2.37% 2.16% 2.16% 2.14% 1.94% 0.13% 0.20% 0.48% 0.97% 1.59% 2.11% 2.44% 2.73% 2.91% 2.99% 3.05% 2.84% 2.66% 2.63% 2.64% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX) 7

cost of funds total deposits 0.05% 0.07% 0.20% 0.46% 0.75% 1.08% 1.40% 1.67% 1.74% 1.81% 1.87% 1.77% 1.60% 1.60% 1.59% 1.43% 0.08% 0.12% 0.31% 0.66% 1.09% 1.52% 1.85% 2.10% 2.19% 2.26% 2.34% 2.19% 2.01% 1.99% 1.98% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX) 8

accretive and predictable balance sheet remix note: loan cashflow refers to cashflow from fixed and adjustable loans; 5.8% roll on rate assumes that the cashflows from maturities/prepayments from loans were reinvested into the same products and the cashflows from maturities/prepayments from investment portfolio were reinvested into securities at an average rate of 4.9%, equivalent to average yield at the time of purchase of the securities purchased in 4Q25. $659 million 4Q25 loan & investment cashflow 5.8% roll on rate accretive & predictable NII expansion 4.0% roll off rate 9

ongoing NIM expansion 2.11% 0.04% 0.03% 0.01% 0.13% 0.07% 0.07% 0.15% 2.61% avg Fed Funds 3.50% 3.85% 4.20% 4.55% 4.90% 5.25% 5.60% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 1Q24 NIM 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 4Q25 vs 3Q25 4Q25 NIM a vg F e d F un d s N IM 10

conservative loan portfolio focused on core market CRE C&I residential mortgage home equity auto residential mortgage 34% home equity 15% CRE 30% construction 1% C&I and leasing 12% auto & other consumer 7% non-core 0.6% 10-yr avg NPA 10-yr avg NCO % Hawaiʻi/ West Pac asset type core 0.14%-0.01%100%residential mortgage 0.24%-0.06%100%home equity 0.15%0.01%94%CRE n/a0.00%100%construction 0.07%-0.03%92%C&I and leasing n/a0.93%100%auto & other consumer core: real estate secured core: non real estate secured non-core 11

credit performance

lending philosophy Hawaiʻi 93% U.S. mainland 3% West Pacific 4% we lend in our core markets to long-standing relationships note: as of December 31, 2025 13

consumer portfolio wtd avg FICOWALTV % total loans % total consumerasset type 80349%34%60%residential mortgage 78946%15%26%home equity 79948%49%86%real estate secured 730n/a5%9%automobile 761n/a3%5%other consumer 791n/a57%100%total consumer $8.0B consumer notes: $ in billions; numbers may not add up due to rounding other consumer primarily comprised of consumer revolving credit, installment, and auto lease financing wtd avg monitoring FICO for other consumer utilizes origination FICO for auto lease financing 57% of total loans 14 residential mortgage $4.8 home equity $2.1 automobile $0.7 other consumer $0.4

C&I $1.6 CRE $4.2 construction $0.2 leasing $0.1 commercial portfolio residential mortgage home equity $6.1B commercial WALTV % total loans % total commlasset type 54%30%69%commercial real estate 57%1%3%construction 54%31%73%real estate secured n/a11%26%commercial & industrial n/a1%1%leasing n/a43%100%total commercial note: $ in billions; numbers may not add up due to rounding 43% of total loans 15

inventory (sq ft)vacancy 10 yr CAGR10 yr avg3Q243Q25 0.63%1.63%1.10%1.13%industrial -1.01%12.42%13.13%13.11%office 0.72%6.08%5.82%5.04%retail 0.68%4.79%4.05%3.83%multi-family Oahu market vacancies and inventory stable real estate market note: 10-year average vacancy and 10-yr CAGR for inventory are based on year-end 2014 through 2024 source: Colliers (industrial, office, retail) and CoStar (multi-family) 16

multi-family 8.5% industrial 5.5% retail 4.9% lodging 4.6% office 2.4% other 3.9% commercial real estate (CRE) residential mortgage home equity 30% of total loans avg. exposure ($MMs)WALTVasset type 3.955%multi-family 2.755%industrial 4.453%retail 14.150%lodging 1.758%office 4.052%other 3.754%total CRE note: % in chart above is % of total loans 17

CRE scheduled maturities 17.2% 9.4% 8.6% 4.1% 15.0% 45.7% 0 500 1,000 1,500 2,000 2,500 2026 2027 2028 2029 2030 2031+ $ m ill io ns modest near-term maturities 18

63.8% 26.3% 8.3% 1.1% 0.02% 0.5% 0 500 1,000 1,500 2,000 2,500 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% $ m ill io ns CRE loan balances by LTV LTV > 80% - $69MM, 1.6% of CRE 19

commercial & industrial residential mortgage home equity 11% of total loans AOAO 3.4% real estate investors 1.4% auto dealers 1.2% renewable energy 0.7% lodging 0.7% educational svcs 0.6% transportation 0.5% wholesale trade 0.5% other 2.3% avg. exposure ($MMs)% leveragedindustry 1.80%AOAO 1.30%RE investors 4.515%auto dealers 2.60%renewable energy 6.220%lodging 2.00%educational svcs 1.40%transportation 0.524%wholesale trade 0.38%other 0.75%total C&I 20note: % in chart above is % of total loans

credit quality 0.10% 0.07% 0.12% $0 $0 $0 $0 $0 $0 $0 $0 $0 4Q24 3Q25 4Q25 net charge-offs NCOs/average loans 0.14% 0.12% 0.10% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 4Q24 3Q25 4Q25 non-performing assets NPAs/period-end loans plus OREO 1 86% of total criticized is secured with 54% wtd avg LTV 0.34% 0.29% 0.36% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 4Q24 3Q25 4Q25 delinquencies delinquencies/period-end loans 2.10% 2.05% 2.12% 4Q24 3Q25 4Q25 criticized criticized/period-end loans 1 21

financial update

NII and NIM trends seventh consecutive quarter of NII and NIM expansion $ in millions $125 $133 $142 $141 $136 $124 $121 $116 $114 $115 $118 $120 $126 $130 $137 $145 2.34% 2.47% 2.60% 2.60% 2.47% 2.22% 2.13% 2.13% 2.11% 2.15% 2.18% 2.19% 2.32% 2.39% 2.46% 2.61% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 NII NIM 23

cashflow repricing total quarterly impact to NII from cashflows repricing: +$3.0 million note: +$3.0 million in quarterly impact from cashflows repricing assumes that the cashflows from maturities/prepayments from loans were reinvested into the same products and the cashflows from maturities/prepayments from investment portfolio were reinvested into securities at an average rate of 4.9%, equivalent to average yield at the time of purchase of the securities purchased in 4Q25; excludes cashflows from securities repricing; numbers may not add up due to rounding 4.5% 6.4% 2.0% 5.0% 5.7% 0.7% 2.6% 4.9% 2.3% 4.0% 5.8% 1.8% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% matured/run-off yield reinvestment opportunities incremental spread 4Q25 maturities/prepayments reinvestment opportunities fixed loans adjustable loans inv. portfolio total $322 $132 $205 $659 $- $100 $200 $300 $400 $500 $600 $700 4Q25 maturities/prepayments fixed loans adjustable loans inv. portfolio total 24 $ in millions

deposit mix shift and repricing quarterly NII impact from deposit mix shift and repricing in 4Q25: +$0.7 million $(749) $(967) $(800) $(627) $(488) $(448) $(315) $(105) $(37) $(59) $(104) $100 $(1,000) $(800) $(600) $(400) $(200) $- $200 1Q23 vs 4Q22 2Q23 vs 1Q23 3Q23 vs 2Q23 4Q23 vs 3Q23 1Q24 vs 4Q23 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 4Q25 vs 3Q25 QoQ change in average NIBD and low yield interest-bearing deposit balances note: low yield interest-bearing deposits include accounts yielding interest of 10 bps or less 25 $ in millions

NIBD expansion $ in millions $184 $225 ($15) ($596) ($456) ($399) ($176) ($146) ($129) ($192) ($78) $9 $8 $51 $33 $171 -$700 -$500 -$300 -$100 $100 $300 $500 $700 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 QoQ change in average noninterest-bearing deposits 26

27 NII impact from 25 bps Fed Funds cut net NII impact per quarter for 25 bps FF decrease from rate sensitive earning assets: $(4.4) million short-term net NII impact per quarter for 25 bps FF decrease from rate sensitive deposits: +$3.9 million long-term net NII impact per quarter for 25 bps FF decrease from rate sensitive deposits: +$5.8 million short-term net NII impact: $(0.4) million & long-term net NII impact: +$1.4 million note: loans, investments and swap balances are as of December 31, 2025; FF sold balance is 4Q25 end of period balance; rate sensitive deposit balances are 4Q25 average balances; low-yield accounts are accounts yielding interest of 10 bps or less; all of qualified business money management checking accounts are included in ‘IBD excl. low-yield accounts’; long-term NII impact per quarter for 25 bps FF decrease from rate sensitive deposits assumes 85% beta on savings excl. low-yield accounts & IBD excl. low-yield accounts and 100% beta on time deposits; short-term NII impact assumes 0% beta on time deposits; numbers may not add up due to rounding. rate sensitive earning assets rate sensitive interest-bearing deposits $3.3 $1.4 $1.5 $0.7 $- $1.0 $2.0 $3.0 $4.0 $ in b ill io ns loans investments swaps FF sold balances $6.2 $1.2 $3.0 $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 $8.0 $ in b ill io ns savings excl. low-yield accounts IBD excl. low-yield accounts time $10.4B balances $(2.1) $(0.9) $(0.9) $(0.4) $(3.0) $(2.0) $(1.0) $- $ in m ill io ns loans investments swaps FF sold NII impact $7.0B NII impact $3.3 $3.3 $0.7 $0.7 $1.9 $3.9 $5.8 $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 short-term NII impact long-term NII impact $ in m ill io ns savings excl. low yield accounts IBD excl. low-yield accounts time

1.52% 1.42% 1.34% 2.05% 1.94% 1.84% total deposit cost interest-bearing deposit cost trend in cost of deposits 28 16% 28% 29% 28% 31% downward beta on total deposits 0.05% 0.07% 0.20% 0.46% 0.75% 1.08% 1.40% 1.67% 1.74% 1.81% 1.87% 1.77% 1.60% 1.60% 1.59% 1.43% 0.07%0.11% 0.30% 0.69% 1.09% 1.54% 1.95% 2.30% 2.39% 2.46% 2.52% 2.37% 2.16% 2.16% 2.14% 1.94%

29 time deposit maturity schedule $1.4B 52% $0.7B 24% $0.2B 8% $0.3B 10% 3.10% 3.04% 2.98% 2.92% 0% 10% 20% 30% 40% 50% 60% 1Q26 2Q26 3Q26 4Q26 % o f to ta l t im e de po si ts s ch ed ul ed t o m a tu re balance as % of total time deposits weighted average rate 52% of time deposits set to reprice in 3 months and 76% in 6 months note: as of December 31, 2025

30 optimizing balance sheet $1.0 $1.7 $1.7 $1.7 $1.5 $1.3 $1.3 $1.5 $1.1 $1.1 $1.0 $1.3 $1.3 $1.3 $1.3 $0.7 $0.7 $0.7 $0.3 $0.4 $- $0.2 $2.0 $3.0 $3.0 $3.0 $2.8 $2.0 $2.0 $2.2 $1.4 $1.5 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $ in b ill io ns active swap composition fixed rate loans AFS securities 73% 72% 67% 61% 55% 55% 54% 53% 57% 56% 55% 57% 57% 26% 27% 27% 28% 29% 29% 29% 30% 32% 33% 33% 34% 33% 1% 9% 13% 13% 14% 12% 9% 9% 10% 6% 7% 0.4% 1% 5% 2% 3% 3% 3% 4% 2% 3% 2% 3% 3% 0% 20% 40% 60% 80% 100% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 earning asset composition fixed float/adjustable swaps fed funds sold 100% 56% 44% 67% 81%100% 100% 44% 56% 33% 19% $(166) $236 $233 $241 $276 $223 $308 $(200) $(100) $- $100 $200 $300 $400 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $ in m ill io ns securities purchases / sales fixed floating note: swaps in ‘earning asset composition’ and ‘swap composition’ does not include $500 million of forward swaps; ‘securities purchases / sales’ do not include stock and PCLI purchases

noninterest income and expense $ in millions increase in noninterest income and continued discipline in expense management $43.0 $46.0 $44.3 $0 $10 $20 $30 $40 $50 4Q24 3Q25 4Q25 reported noninterest income $107.9 $112.4 $109.5 $0 $20 $40 $60 $80 $100 $120 4Q24 3Q25 4Q25 reported noninterest expense 31note: numbers may not add up due to rounding

financial summary $ in millions, except per share amounts ∆ 4Q 2024∆ 3Q 20254Q 20243Q 20254Q 2025 $ 25.2 $ 8.7 $ 120.2 $ 136.7 $ 145.4 net interest income 1.2 (1.7)43.0 46.0 44.3 noninterest income 26.4 7.0 163.2 182.6 189.6 total revenue 1.6 (2.9)107.9 112.4 109.5 noninterest expense 24.8 9.9 55.3 70.3 80.1 operating income (1.3)-3.8 2.5 2.5 credit provision 4.3 2.3 12.4 14.4 16.7 income taxes $ 21.8 $ 7.6 $ 39.2 $ 53.3 $ 60.9 net income $ 21.8 $ 7.6 $ 33.9 $ 48.1 $ 55.7 net income available to common $ 0.54 $ 0.19 $ 0.85 $ 1.20 $ 1.39 diluted EPS % 0.35 % 0.13 % 0.66 % 0.88 % 1.01 return on assets 4.73 1.44 10.30 13.59 15.03 return on common equity 0.42 0.15 2.19 2.46 2.61 net interest margin end of period balances % 6.1 % 1.8 $ 7,308 $ 7,620 $ 7,756 investment portfolio 0.0 0.4 14,076 14,022 14,082 loans and leases 2.7 0.5 20,633 21,081 21,188 total deposits 11.0 3.4 1,668 1,791 1,851 shareholders' equity note: 4Q25 financials are preliminary; numbers may not add up due to rounding 32

capital note: 4Q25 regulatory capital ratios are preliminary 6.50% 6.50% 6.50% 8.00% 8.00% 8.00% 10.00% 10.00% 10.00% 5.00% 5.00% 5.00% 5.09% 5.48% 5.63% 5.95% 6.34% 6.49% 5.00% 5.40% 5.54% 3.31% 3.44% 3.57% 11.59% 11.98% 12.13% 13.95% 14.34%14.49% 15.00% 15.40% 15.54% 8.31% 8.44% 8.57% 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 CET1 tier 1 capital total capital tier 1 leverage well-capitalized excess 13.6% BOHC strong capital 58.9% 59.2% 76.4% BOHC 3Q25 BOHC 4Q25 KRX median 3Q25 total 1 RWA / total assets 33

✔ NII and NIM increased for the seventh consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital takeaways 34

Q & A

appendix

note: as of December 31, 2025, cash includes fed funds sold, interest-bearing deposits in other banks and cash and due from banks, and securities available includes unencumbered investment securities Bank of Hawai‘i carries substantial liquidity lines and equivalents for both day-to-day operational and liquidity backstop purposes FRB FHLB securities available cash uninsured/ uncollateralized deposits $10.9B $8.0B readily available liquidity 37

insured/collateralized deposits uninsured/ uncollateralized 38% uninsured/ collateralized 9% insured 53% note: as of December 31, 2025; numbers may not add up due to rounding 38

Oahu market inventory 39 CRE supply constraints 10-yr CAGR: 0.6% 10-yr CAGR: -1.0% 10-yr CAGR: 0.7% 10-yr CAGR: 0.7% note: 10-yr CAGR for inventory are based on year-end 2014 through 2024 source: Colliers (industrial, office, retail) and CoStar (multi-family)

CRE office 2% of total loans • 58% wtd avg LTV • $1.7MM average exposure • 17% CBD (downtown Honolulu) - 63% wtd avg LTV - 68% with repayment guaranties • 31% maturing prior to 2027 • 1.5% criticized highlights LTV ≤ 60% 43% LTV > 60% to 70% 39% LTV > 70% to 80% 6% LTV > 80% 12% LTV distribution $336MM 40 31.4% 4.9% 11.4% 2.3% 12.3% 37.6% - 50 100 150 200 250 300 2026 2027 2028 2029 2030 2031+ $ m ill io ns scheduled maturity

CRE multi-family 9% of total loans • 55% wtd avg LTV • $3.9MM average exposure • 100.0% LIHTC, affordable or market • 15% maturing prior to 2027 • 3.7% criticized highlightsLTV ≤ 60% 60% LTV > 60% to 70% 28% LTV > 70% to 80% 10% LTV > 80% 2% LTV distribution 15.2% 2.1% 3.8% 2.4% 9.1% 67.3% - 300 600 900 2026 2027 2028 2029 2030 2031+ $ m ill io ns scheduled maturity $1.2B 41

condominiumssingle family homes Δ YTD-24YTD-24YTD-25Δ YTD-24YTD-24YTD-25 -1.5% $515$507 3.5% $1,100$1,139 median sales price (000s) -1.1% 4,4594,408 3.5% 2,7932,890closed sales 14 days 3044 4 days 1923 median days on market stable real estate prices Oahu market indicators – YTD 2025 as of December 2025 source: Honolulu Board of Realtors, compiled from MLS data 42

2.2% 20.2% 2.6% 2.8% 3.0% 3.0% 4.3% 4.5% 1 Q 2 0 2 Q 2 0 3 Q 2 0 4 Q 2 0 1 Q 2 1 2 Q 2 1 3 Q 2 1 4 Q 2 1 1 Q 2 2 2 Q 2 2 3 Q 2 2 4 Q 2 2 1 Q 2 3 2 Q 2 3 3 Q 2 3 4 Q 2 3 1 Q 2 4 2 Q 2 4 3 Q 2 4 4 Q 2 4 1 Q 2 5 2 Q 2 5 3 Q 2 5 4 Q 2 5 1 Q 2 6 2 Q 2 6 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment unemployment experience & forecast source for Hawai‘i unemployment: University of Hawaii Economic Research Organization (UHERO), quarterly data, seasonally adjusted source for national unemployment: Bureau of Labor Statistics, quarterly data, seasonally adjusted national unemployment reflects average of Nov 2025 and Dec 2025 rate 43

44 visitor arrivals monthly by market, indexed to January 2017 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) - 20 40 60 80 100 120 140 160 180 200 total US visitor Japan other

revenue per available room revenue per available room (RevPAR) 45source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) $0 $30 $60 $90 $120 $150 $180 $210 $240 $270 $300 $330 $360

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