BOH 8-K
Bank Of Hawaii Corp (BOH)
8-K
2025-10-27
For: 2025-10-27
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 | |||||
| (Date of earliest event reported) | |||||
(Exact name of registrant as specified in its charter)
| (State of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (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 | ||||||||||||
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 October 27, 2025, Bank of Hawaii Corporation announced its results of operations for the quarter ended September 30, 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 | October 27, 2025 Press Release: Bank of Hawaii Corporation Third 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 | ||||||||
| 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: October 27, 2025 | Bank of Hawaii Corporation | |||||||
| By: | /s/ Patrick M. McGuirk | |||||||
| Patrick M. McGuirk | ||||||||
| Vice Chair and Chief Administrative Officer | ||||||||
Exhibit 99.1
Bank of Hawai‘i Corporation Third Quarter 2025 Financial Results
•Diluted Earnings Per Common Share of $1.20
•Net Income of $53.3 Million
•Net Interest Income $136.7 Million
•Net Interest Margin 2.46%
•Average Deposits Increased by 7.1% Annualized from the Linked Quarter
•Board of Directors Declares Dividend of $0.70 Per Common Share
FOR IMMEDIATE RELEASE
HONOLULU, HI (October 27, 2025) -- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $1.20 for the third quarter of 2025, compared with $1.06 during the linked quarter and $0.93 during the same period last year. Net income for the third quarter of 2025 was $53.3 million, up 12.0% from the linked quarter and up 32.2% from the same period last year. The return on average common equity for the third quarter of 2025 was 13.59% compared with 12.50% during the linked quarter and 11.50% during the same period last year.
“Bank of Hawai‘i delivered another quarter of solid results in the third quarter of 2025,” said Peter Ho, Chairman and CEO. “We achieved our sixth consecutive quarter of net interest income and margin expansion. Average deposit balances increased by 7.1% annualized and end of period total loans and leases increased modestly. Our credit quality remains exceptional, and we remain focused on prudent expense management and long-term value creation for our stakeholders.”
Financial Highlights
Net interest income for the third quarter of 2025 was $136.7 million, an increase of 5.4% from the linked quarter and an increase of 16.2% as compared to the same period last year. The increase from the previous quarter was primarily driven by higher earning assets due to deposit growth and higher earning asset yields, as cash flows from fixed rate assets rolling off at lower interest rates reinvested at higher current rates (fixed asset repricing). The increase from the same period last year was primarily due to lower interest-bearing deposit rates and higher earning assets due to deposit growth.
Net interest margin was 2.46% in the third quarter of 2025, an increase of 7 basis points from the linked quarter and an increase of 28 basis points from the same period last year. As discussed above, the increase from the previous quarter was primarily due to higher earning assets and fixed asset repricing. The increase from the same period last year was primarily due to lower interest-bearing deposit rates.
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Bank of Hawai‘i Corporation Third Quarter 2025 Financial Results | Page 2 | ||||
The average yield on loans and leases was 4.86% in the third quarter of 2025, up 6 basis points from the linked quarter and up 4 basis points from the same period last year. The average yield on total earning assets was 4.08% in the third quarter of 2025, up 7 basis points from the linked quarter and up 2 basis points from the same period last year. The increase in loan yield from the linked quarter is due to new and existing loans earning higher rates than paid off loans. The average rate of interest-bearing deposits was 2.14% in the third quarter of 2025, down 2 basis points from the linked quarter and down 38 basis points from the same period last year. The average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.59%, down 1 basis point from the linked quarter and down 28 basis points from the same period last year. The decrease from the linked quarter was primarily due to a decrease in time deposit rates. The decrease from the same period last year was primarily due to lower benchmark interest rates and overall decreases in rates.
Noninterest income was $46.0 million in the third quarter of 2025, an increase of 2.6% from the linked quarter and an increase of 1.9% from the same period in 2024. Noninterest income in the third quarter included a $0.8 million charge related to a Visa Class B share conversion ratio change, while the linked quarter included a $0.8 million gain related to a BOLI recovery. Adjusted for these items, noninterest income increased by 6.3% from the linked quarter and increased by 3.6% from the same period in 2024. The increases from the linked quarter and same period last year were primarily due to increases in income from trust and asset management, customer derivative program fees, and loan fees, partially offset by lower annuity and insurance income.
Noninterest expense was $112.4 million in the third quarter of 2025, an increase of 1.4% from the linked quarter and an increase of 4.9% from the same period last year. Noninterest expense in the third quarter included a severance-related charge of $2.1 million, while the linked quarter included a severance-related charge of $1.4 million. Adjusted for these items, noninterest expense increased by 0.8% from the linked quarter and increased by 3.0% from the same period in 2024. The increase from the linked quarter was primarily due to higher salaries and benefits, partially offset by other expenses. The increase from the same period last year was primarily due to higher salaries and benefits, partially offset by lower professional fees.
The effective tax rate for the third quarter of 2025 was 21.27% compared with 21.19% during the linked quarter and 23.33% during the same period last year. The lower effective tax rate in the current quarter as compared to the linked quarter was primarily due to an increase in tax-exempt income. Compared to the same period last year, the decrease was primarily due to a decrease in tax expense from discrete items and an increase in tax-exempt income.
Asset Quality
The Company’s overall asset quality remained strong during the third quarter of 2025. Provision for credit losses for the third quarter of 2025 was $2.5 million, down $0.8 million from the linked quarter and down $0.5 million in the same period last year.
Total non-performing assets were $16.9 million at September 30, 2025, down $1.0 million from June 30, 2025 and down $2.9 million from September 30, 2024. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.12% at the end of the quarter, a decrease of 1 basis point from the linked quarter and a decrease of 2 basis points from the same period last year.
Net loan and lease charge-offs during the third quarter of 2025 were $2.6 million or 7 basis points annualized of total average loans and leases outstanding and comprised of gross charge-offs of $4.0 million partially offset by gross recoveries of $1.4 million, consistent with net loan and lease charge-offs from the linked quarter. Compared to the same period last year, net loan and lease charge-offs decreased by $1.3 million or 4 basis points annualized on total average loans and leases outstanding.
The allowance for credit losses on loans and leases was $148.8 million at September 30, 2025, an increase of $0.2 million from June 30, 2025 and an increase of $1.4 million from September 30, 2024. The ratio
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Bank of Hawai‘i Corporation Third Quarter 2025 Financial Results | Page 3 | ||||
of the allowance for credit losses to total loans and leases outstanding was 1.06% at the end of the quarter, unchanged from the linked quarter and the same period last year.
Balance Sheet
Total assets were $24.0 billion at September 30, 2025, an increase of 1.3% from June 30, 2025 and an increase of 0.9% from September 30, 2024. The increase from the linked quarter was primarily due to increases in cash and cash equivalents and available-for-sale securities, partially offset by a decrease in held-to-maturity securities. The increase from the same period last year was primarily due to increases in available-for-sale investment securities, partially offset by decreases in held-to-maturity securities and cash and cash equivalents.
The investment securities portfolio was $7.6 billion at September 30, 2025, an increase of 0.9% from June 30, 2025 and an increase of 5.0% from September 30, 2024. The increases from the prior periods were primarily due to the purchases of 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 $14.0 billion at September 30, 2025, an increase of 0.1% from June 30, 2025 and an increase of 0.7% from September 30, 2024. Total commercial loans were $6.1 billion at September 30, 2025, a decrease of 0.1% from June 30, 2025 and an increase of 2.8% from September 30, 2024. The decrease from the linked quarter was primarily due to loan amortization and paydowns within our commercial and industrial portfolio. The increase from the same period last year was primarily due to healthy loan production within our commercial mortgage portfolio, partially offset by loan amortization and paydowns in our commercial and industrial portfolio. Total consumer loans were $7.9 billion at September 30, 2025, an increase of 0.4% from the linked quarter and a decrease of 0.8% 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 automobile portfolio. The decrease from the same period last year was primarily due to declines in our automobile and home equity portfolios.
Total deposits were $21.1 billion at September 30, 2025, an increase of 1.4% from June 30, 2025 and an increase of 0.5% from September 30, 2024. Noninterest-bearing deposits made up 25.6% of total deposit balances at September 30, 2025, down from 26.1% at June 30, 2025 and down from 25.8% at September 30, 2024. Average total deposits were $21.1 billion for the third quarter of 2025, up 1.8% from the linked quarter and up 2.9% 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 14.34% at September 30, 2025 compared with 14.17% at June 30, 2025 and 14.05% at September 30, 2024. The increase from the linked quarter was due to retained earnings growth. The increase from the same period last year was primarily due to retained earnings growth, partially offset by an increase in risk-weighted assets. The Tier 1 Leverage Ratio was 8.44% at September 30, 2025, compared with 8.46% at June 30, 2025 and 8.38% at September 30, 2024. The decrease from the linked quarter was due to an increase in average total assets, partially offset by an increase in retained earnings. The increase from the same period last year was due to an increase in retained earnings, partially offset by an increase in average assets.
No shares of common stock were repurchased under the share repurchase program in the third quarter of 2025. Total remaining buyback authority under the share repurchase program was $126.0 million at September 30, 2025.
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Bank of Hawai‘i Corporation Third Quarter 2025 Financial Results | Page 4 | ||||
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 December 12, 2025 to shareholders of record at the close of business on November 28, 2025.
On October 3, 2025, 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 November 3, 2025 to shareholders of record of the preferred stock as of the close of business on October 17, 2025.
Conference Call Information
The Company will review its third quarter financial results today at 8:00 a.m. Hawai‘i Time (2:00 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/BI5601a213890442eb9322468299a2c8d5. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, October 27, 2025. 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.
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 and June 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.
# # # #
| Bank of Hawai‘i Corporation and Subsidiaries | ||||||||||||||||||||||||||||||||
| Financial Highlights | Table 1 | |||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
| (dollars in thousands, except per share amounts) | September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |||||||||||||||||||||||||||
| For the Period: | ||||||||||||||||||||||||||||||||
| Operating Results | ||||||||||||||||||||||||||||||||
| Net Interest Income | $ | 136,675 | $ | 129,683 | $ | 117,618 | $ | 392,165 | $ | 346,402 | ||||||||||||||||||||||
| Provision for Credit Losses | 2,500 | 3,250 | 3,000 | 9,000 | 7,400 | |||||||||||||||||||||||||||
| Total Noninterest Income | 45,966 | 44,795 | 45,110 | 134,819 | 129,482 | |||||||||||||||||||||||||||
| Total Noninterest Expense | 112,387 | 110,783 | 107,092 | 333,629 | 322,177 | |||||||||||||||||||||||||||
| Pre-Provision Net Revenue | 70,254 | 63,695 | 55,636 | 193,355 | 153,707 | |||||||||||||||||||||||||||
| Net Income | 53,345 | 47,637 | 40,358 | 144,967 | 110,832 | |||||||||||||||||||||||||||
| Net Income Available to Common Shareholders | 48,076 | 42,368 | 36,922 | 129,159 | 103,457 | |||||||||||||||||||||||||||
| Basic Earnings Per Common Share | 1.21 | 1.07 | 0.94 | 3.26 | 2.62 | |||||||||||||||||||||||||||
| Diluted Earnings Per Common Share | 1.20 | 1.06 | 0.93 | 3.24 | 2.61 | |||||||||||||||||||||||||||
| Dividends Declared Per Common Share | 0.70 | 0.70 | 0.70 | 2.10 | 2.10 | |||||||||||||||||||||||||||
| Performance Ratios | ||||||||||||||||||||||||||||||||
| Return on Average Assets | 0.88 | % | 0.81 | % | 0.69 | % | 0.82 | % | 0.64 | % | ||||||||||||||||||||||
| Return on Average Shareholders' Equity | 12.10 | 11.21 | 9.90 | 11.34 | 9.92 | |||||||||||||||||||||||||||
| Return on Average Common Equity | 13.59 | 12.50 | 11.50 | 12.65 | 11.04 | |||||||||||||||||||||||||||
Efficiency Ratio 1 | 61.53 | 63.49 | 65.81 | 63.31 | 67.70 | |||||||||||||||||||||||||||
Net Interest Margin 2 | 2.46 | 2.39 | 2.18 | 2.39 | 2.15 | |||||||||||||||||||||||||||
Dividend Payout Ratio 3 | 57.85 | 65.42 | 74.47 | 64.42 | 80.15 | |||||||||||||||||||||||||||
| Average Shareholders' Equity to Average Assets | 7.29 | 7.22 | 6.95 | 7.20 | 6.42 | |||||||||||||||||||||||||||
| Average Balances | ||||||||||||||||||||||||||||||||
| Average Loans and Leases | $ | 13,982,003 | $ | 14,049,025 | $ | 13,809,977 | $ | 14,030,773 | $ | 13,836,760 | ||||||||||||||||||||||
| Average Assets | 23,995,037 | 23,596,955 | 23,338,529 | 23,744,661 | 23,255,372 | |||||||||||||||||||||||||||
| Average Deposits | 21,068,286 | 20,699,694 | 20,484,391 | 20,813,967 | 20,462,222 | |||||||||||||||||||||||||||
| Average Shareholders' Equity | 1,748,576 | 1,704,415 | 1,621,936 | 1,709,788 | 1,492,645 | |||||||||||||||||||||||||||
| Per Share of Common Stock | ||||||||||||||||||||||||||||||||
| Book Value | $ | 36.35 | $ | 35.16 | $ | 33.22 | $ | 36.35 | $ | 33.22 | ||||||||||||||||||||||
| Tangible Book Value | 35.56 | 34.37 | 32.43 | 35.56 | 32.43 | |||||||||||||||||||||||||||
| Market Value | ||||||||||||||||||||||||||||||||
| Closing | 65.64 | 67.53 | 62.77 | 65.64 | 62.77 | |||||||||||||||||||||||||||
| High | 71.90 | 71.35 | 70.44 | 76.00 | 73.73 | |||||||||||||||||||||||||||
| Low | 60.32 | 57.45 | 55.75 | 57.45 | 54.50 | |||||||||||||||||||||||||||
| September 30, 2025 | June 30, 2025 | December 31, 2024 | September 30, 2024 | |||||||||||||||||||||||
| As of Period End: | ||||||||||||||||||||||||||
| Balance Sheet Totals | ||||||||||||||||||||||||||
| Loans and Leases | $ | 14,021,579 | $ | 14,002,178 | $ | 14,075,980 | $ | 13,918,583 | ||||||||||||||||||
| Total Assets | 24,014,609 | 23,709,752 | 23,601,114 | 23,799,174 | ||||||||||||||||||||||
| Total Deposits | 21,080,669 | 20,798,914 | 20,633,037 | 20,978,322 | ||||||||||||||||||||||
| Other Debt | 558,201 | 558,226 | 558,274 | 558,297 | ||||||||||||||||||||||
| Total Shareholders' Equity | 1,791,183 | 1,743,107 | 1,667,774 | 1,665,474 | ||||||||||||||||||||||
| Asset Quality | ||||||||||||||||||||||||||
| Non-Performing Assets | $ | 16,864 | $ | 17,881 | $ | 19,300 | $ | 19,781 | ||||||||||||||||||
| Allowance for Credit Losses - Loans and Leases | 148,778 | 148,543 | 148,528 | 147,331 | ||||||||||||||||||||||
Allowance to Loans and Leases Outstanding 4 | 1.06 | % | 1.06 | % | 1.06 | % | 1.06 | % | ||||||||||||||||||
Capital Ratios 5 | ||||||||||||||||||||||||||
| Common Equity Tier 1 Capital Ratio | 11.98 | % | 11.81 | % | 11.59 | % | 11.66 | % | ||||||||||||||||||
| Tier 1 Capital Ratio | 14.34 | 14.17 | 13.95 | 14.05 | ||||||||||||||||||||||
| Total Capital Ratio | 15.40 | 15.23 | 15.00 | 15.11 | ||||||||||||||||||||||
| Tier 1 Leverage Ratio | 8.44 | 8.46 | 8.31 | 8.38 | ||||||||||||||||||||||
| Total Shareholders' Equity to Total Assets | 7.46 | 7.35 | 7.07 | 7.00 | ||||||||||||||||||||||
Tangible Common Equity to Tangible Assets 6 | 5.90 | 5.77 | 5.48 | 5.42 | ||||||||||||||||||||||
Tangible Common Equity to Risk-Weighted Assets 6 | 9.95 | 9.62 | 9.08 | 9.17 | ||||||||||||||||||||||
| Non-Financial Data | ||||||||||||||||||||||||||
| Full-Time Equivalent Employees | 1,905 | 1,921 | 1,865 | 1,854 | ||||||||||||||||||||||
| Branches | 51 | 51 | 50 | 50 | ||||||||||||||||||||||
| ATMs | 322 | 317 | 317 | 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 September 30, 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) | September 30, 2025 | June 30, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||
| Total Shareholders' Equity | $ | 1,791,183 | $ | 1,743,107 | $ | 1,667,774 | $ | 1,665,474 | ||||||||||||||||||
| Less: Preferred Stock | 345,000 | 345,000 | 345,000 | 345,000 | ||||||||||||||||||||||
| Goodwill | 31,517 | 31,517 | 31,517 | 31,517 | ||||||||||||||||||||||
| Tangible Common Equity | $ | 1,414,666 | $ | 1,366,590 | $ | 1,291,257 | $ | 1,288,957 | ||||||||||||||||||
| Total Assets | $ | 24,014,609 | $ | 23,709,752 | $ | 23,601,114 | $ | 23,799,174 | ||||||||||||||||||
| Less: Goodwill | 31,517 | 31,517 | 31,517 | 31,517 | ||||||||||||||||||||||
| Tangible Assets | $ | 23,983,092 | $ | 23,678,235 | $ | 23,569,597 | $ | 23,767,657 | ||||||||||||||||||
Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1 | $ | 14,215,866 | $ | 14,208,032 | $ | 14,225,908 | $ | 14,054,698 | ||||||||||||||||||
| Total Shareholders' Equity to Total Assets | 7.46% | 7.35% | 7.07% | 7.00% | ||||||||||||||||||||||
| Tangible Common Equity to Tangible Assets (Non-GAAP) | 5.90% | 5.77% | 5.48% | 5.42% | ||||||||||||||||||||||
Tier 1 Capital Ratio 1 | 14.34% | 14.17% | 13.95% | 14.05% | ||||||||||||||||||||||
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1 | 9.95% | 9.62% | 9.08% | 9.17% | ||||||||||||||||||||||
1Regulatory capital ratios as of September 30, 2025 are preliminary.
| Bank of Hawai‘i Corporation and Subsidiaries | ||||||||||||||||||||||||||||||||
| Consolidated Statements of Income | Table 3 | |||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
| (dollars in thousands, except per share amounts) | September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |||||||||||||||||||||||||||
| Interest Income | ||||||||||||||||||||||||||||||||
| Interest and Fees on Loans and Leases | $ | 169,411 | $ | 166,779 | $ | 166,286 | $ | 499,272 | $ | 488,830 | ||||||||||||||||||||||
| Income on Investment Securities | ||||||||||||||||||||||||||||||||
| Available-for-Sale | 29,702 | 27,007 | 23,257 | 81,077 | 66,482 | |||||||||||||||||||||||||||
| Held-to-Maturity | 19,332 | 19,835 | 21,107 | 59,458 | 64,838 | |||||||||||||||||||||||||||
| Cash and Cash Equivalents | 8,195 | 3,817 | 8,980 | 17,472 | 21,276 | |||||||||||||||||||||||||||
| Other | 1,068 | 1,097 | 1,018 | 3,250 | 3,108 | |||||||||||||||||||||||||||
| Total Interest Income | 227,708 | 218,535 | 220,648 | 660,529 | 644,534 | |||||||||||||||||||||||||||
| Interest Expense | ||||||||||||||||||||||||||||||||
| Deposits | 84,590 | 82,476 | 96,067 | 248,758 | 276,665 | |||||||||||||||||||||||||||
| Securities Sold Under Agreements to Repurchase | 496 | 491 | 993 | 1,731 | 3,616 | |||||||||||||||||||||||||||
| Other Debt | 5,947 | 5,885 | 5,970 | 17,875 | 17,851 | |||||||||||||||||||||||||||
| Total Interest Expense | 91,033 | 88,852 | 103,030 | 268,364 | 298,132 | |||||||||||||||||||||||||||
| Net Interest Income | 136,675 | 129,683 | 117,618 | 392,165 | 346,402 | |||||||||||||||||||||||||||
| Provision for Credit Losses | 2,500 | 3,250 | 3,000 | 9,000 | 7,400 | |||||||||||||||||||||||||||
| Net Interest Income After Provision for Credit Losses | 134,175 | 126,433 | 114,618 | 383,165 | 339,002 | |||||||||||||||||||||||||||
| Noninterest Income | ||||||||||||||||||||||||||||||||
| Fees, Exchange, and Other Service Charges | 15,219 | 14,383 | 14,945 | 44,039 | 42,837 | |||||||||||||||||||||||||||
| Trust and Asset Management | 12,598 | 12,097 | 11,916 | 36,436 | 35,328 | |||||||||||||||||||||||||||
| Service Charges on Deposit Accounts | 8,510 | 8,119 | 8,075 | 24,888 | 23,752 | |||||||||||||||||||||||||||
| Bank-Owned Life Insurance | 3,681 | 3,714 | 3,533 | 11,006 | 10,285 | |||||||||||||||||||||||||||
| Annuity and Insurance | 1,095 | 1,437 | 1,460 | 4,087 | 4,089 | |||||||||||||||||||||||||||
| Mortgage Banking | 906 | 849 | 1,188 | 2,743 | 3,167 | |||||||||||||||||||||||||||
| Investment Securities Losses, Net | (1,945) | (1,126) | (1,103) | (4,678) | (4,201) | |||||||||||||||||||||||||||
| Other | 5,902 | 5,322 | 5,096 | 16,298 | 14,225 | |||||||||||||||||||||||||||
| Total Noninterest Income | 45,966 | 44,795 | 45,110 | 134,819 | 129,482 | |||||||||||||||||||||||||||
| Noninterest Expense | ||||||||||||||||||||||||||||||||
| Salaries and Benefits | 62,905 | 61,308 | 58,626 | 187,097 | 173,874 | |||||||||||||||||||||||||||
| Net Occupancy | 10,932 | 10,499 | 10,806 | 31,990 | 31,821 | |||||||||||||||||||||||||||
| Net Equipment | 10,285 | 9,977 | 10,120 | 30,454 | 30,578 | |||||||||||||||||||||||||||
| Data Processing | 5,603 | 5,456 | 4,712 | 16,326 | 14,227 | |||||||||||||||||||||||||||
| Professional Fees | 4,022 | 4,263 | 4,725 | 12,549 | 14,331 | |||||||||||||||||||||||||||
| FDIC Insurance | 3,508 | 3,640 | 3,355 | 8,790 | 14,139 | |||||||||||||||||||||||||||
| Other | 15,132 | 15,640 | 14,748 | 46,423 | 43,207 | |||||||||||||||||||||||||||
| Total Noninterest Expense | 112,387 | 110,783 | 107,092 | 333,629 | 322,177 | |||||||||||||||||||||||||||
| Income Before Provision for Income Taxes | 67,754 | 60,445 | 52,636 | 184,355 | 146,307 | |||||||||||||||||||||||||||
| Provision for Income Taxes | 14,409 | 12,808 | 12,278 | 39,388 | 35,475 | |||||||||||||||||||||||||||
| Net Income | $ | 53,345 | $ | 47,637 | $ | 40,358 | $ | 144,967 | $ | 110,832 | ||||||||||||||||||||||
| Preferred Stock Dividends | 5,269 | 5,269 | 3,436 | 15,808 | 7,375 | |||||||||||||||||||||||||||
| Net Income Available to Common Shareholders | $ | 48,076 | $ | 42,368 | $ | 36,922 | $ | 129,159 | $ | 103,457 | ||||||||||||||||||||||
| Basic Earnings Per Common Share | $ | 1.21 | $ | 1.07 | $ | 0.94 | $ | 3.26 | $ | 2.62 | ||||||||||||||||||||||
| Diluted Earnings Per Common Share | $ | 1.20 | $ | 1.06 | $ | 0.93 | $ | 3.24 | $ | 2.61 | ||||||||||||||||||||||
| Dividends Declared Per Common Share | $ | 0.70 | $ | 0.70 | $ | 0.70 | $ | 2.10 | $ | 2.10 | ||||||||||||||||||||||
| Basic Weighted Average Common Shares | 39,655,741 | 39,622,998 | 39,488,187 | 39,611,372 | 39,429,815 | |||||||||||||||||||||||||||
| Diluted Weighted Average Common Shares | 39,980,931 | 39,895,093 | 39,736,492 | 39,919,998 | 39,654,705 | |||||||||||||||||||||||||||
| Bank of Hawai‘i Corporation and Subsidiaries | |||||||||||||||||||||||||||||
| Consolidated Statements of Comprehensive Income | Table 4 | ||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | ||||||||||||||||||||||||
| Net Income | $ | 53,345 | $ | 47,637 | $ | 40,358 | $ | 144,967 | $ | 110,832 | |||||||||||||||||||
| Other Comprehensive Income, Net of Tax: | |||||||||||||||||||||||||||||
| Net Change in Unrealized Gains on Investment Securities | 22,711 | 18,970 | 38,833 | 66,441 | 60,823 | ||||||||||||||||||||||||
| Net Change in Defined Benefit Plans | 232 | 233 | 168 | 697 | 505 | ||||||||||||||||||||||||
| Other Comprehensive Income | 22,943 | 19,203 | 39,001 | 67,138 | 61,328 | ||||||||||||||||||||||||
| Comprehensive Income | $ | 76,288 | $ | 66,840 | $ | 79,359 | $ | 212,105 | $ | 172,160 | |||||||||||||||||||
| Bank of Hawai‘i Corporation and Subsidiaries | ||||||||||||||||||||||||||
| Consolidated Statements of Condition | Table 5 | |||||||||||||||||||||||||
| (dollars in thousands, except per share amounts) | September 30, 2025 | June 30, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 985,223 | $ | 768,683 | $ | 763,571 | $ | 1,272,763 | ||||||||||||||||||
| Investment Securities | ||||||||||||||||||||||||||
| Available-for-Sale | 3,280,410 | 3,111,504 | 2,689,528 | 2,550,324 | ||||||||||||||||||||||
Held-to-Maturity (Fair Value of $3,717,573; 3,754,794; $3,820,882; and $4,072,596) | 4,340,032 | 4,441,353 | 4,618,543 | 4,710,245 | ||||||||||||||||||||||
| Loans Held for Sale | 1,236 | 1,867 | 2,150 | 5,048 | ||||||||||||||||||||||
| Loans and Leases | 14,021,579 | 14,002,178 | 14,075,980 | 13,918,583 | ||||||||||||||||||||||
| Allowance for Credit Losses | (148,778) | (148,543) | (148,528) | (147,331) | ||||||||||||||||||||||
| Net Loans and Leases | 13,872,801 | 13,853,635 | 13,927,452 | 13,771,252 | ||||||||||||||||||||||
| Premises and Equipment, Net | 196,093 | 192,221 | 184,480 | 191,899 | ||||||||||||||||||||||
| Operating Lease Right-of-Use Assets | 82,804 | 83,594 | 80,165 | 81,736 | ||||||||||||||||||||||
| Accrued Interest Receivable | 69,224 | 67,204 | 66,367 | 66,534 | ||||||||||||||||||||||
| Mortgage Servicing Rights | 17,927 | 18,362 | 19,199 | 19,571 | ||||||||||||||||||||||
| Goodwill | 31,517 | 31,517 | 31,517 | 31,517 | ||||||||||||||||||||||
| Bank-Owned Life Insurance | 494,041 | 488,028 | 481,184 | 475,263 | ||||||||||||||||||||||
| Other Assets | 643,301 | 651,784 | 736,958 | 623,022 | ||||||||||||||||||||||
| Total Assets | $ | 24,014,609 | $ | 23,709,752 | $ | 23,601,114 | $ | 23,799,174 | ||||||||||||||||||
| Liabilities | ||||||||||||||||||||||||||
| Deposits | ||||||||||||||||||||||||||
| Noninterest-Bearing Demand | $ | 5,400,943 | $ | 5,424,471 | $ | 5,423,562 | $ | 5,412,048 | ||||||||||||||||||
| Interest-Bearing Demand | 3,813,921 | 3,855,120 | 3,784,984 | 3,734,601 | ||||||||||||||||||||||
| Savings | 8,814,451 | 8,481,328 | 8,364,916 | 8,663,147 | ||||||||||||||||||||||
| Time | 3,051,354 | 3,037,995 | 3,059,575 | 3,168,526 | ||||||||||||||||||||||
| Total Deposits | 21,080,669 | 20,798,914 | 20,633,037 | 20,978,322 | ||||||||||||||||||||||
| Securities Sold Under Agreements to Repurchase | 50,000 | 50,000 | 100,000 | 100,490 | ||||||||||||||||||||||
| Other Debt | 558,201 | 558,226 | 558,274 | 558,297 | ||||||||||||||||||||||
| Operating Lease Liabilities | 91,690 | 92,381 | 88,794 | 90,356 | ||||||||||||||||||||||
| Retirement Benefits Payable | 23,352 | 23,528 | 23,760 | 22,870 | ||||||||||||||||||||||
| Accrued Interest Payable | 27,580 | 26,732 | 34,799 | 40,434 | ||||||||||||||||||||||
| Other Liabilities | 391,934 | 416,864 | 494,676 | 342,931 | ||||||||||||||||||||||
| Total Liabilities | 22,223,426 | 21,966,645 | 21,933,340 | 22,133,700 | ||||||||||||||||||||||
| Shareholders’ Equity | ||||||||||||||||||||||||||
| Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding) | 180,000 | 180,000 | 180,000 | 180,000 | ||||||||||||||||||||||
| Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding) | 165,000 | 165,000 | 165,000 | 165,000 | ||||||||||||||||||||||
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: September 30, 2025 - 58,779,666 / 39,785,201); June 30, 2025 - 58,775,870 / 39,765,375; December 31, 2024 - 58,765,907 / 39,762,255; and September 30, 2024 - 58,765,907 / 39,748,304) | 587 | 587 | 585 | 585 | ||||||||||||||||||||||
| Capital Surplus | 659,922 | 655,479 | 647,403 | 643,620 | ||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | (276,251) | (299,194) | (343,389) | (335,360) | ||||||||||||||||||||||
| Retained Earnings | 2,178,263 | 2,158,450 | 2,133,838 | 2,127,585 | ||||||||||||||||||||||
Treasury Stock, at Cost (Shares: September 30, 2025 - 18,994,465; June 30, 2025 - 19,010,495; December 31, 2024 - 19,003,609; and September 30, 2024 - 19,017,603) | (1,116,338) | (1,117,215) | (1,115,663) | (1,115,956) | ||||||||||||||||||||||
| Total Shareholders’ Equity | 1,791,183 | 1,743,107 | 1,667,774 | 1,665,474 | ||||||||||||||||||||||
| Total Liabilities and Shareholders’ Equity | $ | 24,014,609 | $ | 23,709,752 | $ | 23,601,114 | $ | 23,799,174 | ||||||||||||||||||
| Bank of Hawai‘i Corporation and Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | – | – | – | – | – | – | – | – | 144,967 | – | 144,967 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | – | – | – | – | – | – | – | 67,138 | – | – | 67,138 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation | – | – | – | – | – | – | 11,680 | – | – | – | 11,680 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Issued under Purchase and Equity Compensation Plans | – | – | – | – | 78,817 | 2 | 839 | – | – | 3,060 | 3,901 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Repurchased | – | – | – | – | (55,871) | – | – | – | – | (3,735) | (3,735) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Dividends Declared Common Stock ($2.10 per share) | – | – | – | – | – | – | – | – | (84,735) | – | (84,735) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash Dividends Declared Preferred Stock | – | – | – | – | – | – | – | – | (15,807) | – | (15,807) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance as of September 30, 2025 | 180,000 | $ | 180,000 | 165,000 | $ | 165,000 | 39,785,201 | $ | 587 | $ | 659,922 | $ | (276,251) | $ | 2,178,263 | $ | (1,116,338) | $ | 1,791,183 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | – | – | – | – | – | – | – | – | 110,832 | – | 110,832 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | – | – | – | – | – | – | – | 61,328 | – | – | 61,328 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation | – | – | – | – | – | – | 11,051 | – | – | – | 11,051 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Preferred Stock Issued, Net | – | – | 165,000 | 165,000 | – | – | (4,386) | – | – | – | 160,614 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Issued under Purchase and Equity Compensation Plans | – | – | – | – | 78,753 | 2 | 533 | – | 768 | 2,829 | 4,132 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Repurchased | – | – | – | – | (83,587) | – | – | – | – | (5,141) | (5,141) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Dividends Declared Common Stock ($2.10 per share) | – | – | – | – | – | – | – | – | (84,209) | – | (84,209) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash Dividends Declared Preferred Stock | – | – | – | – | – | – | – | – | (7,375) | – | (7,375) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance as of September 30, 2024 | 180,000 | $ | 180,000 | 165,000 | $ | 165,000 | 39,748,304 | $ | 585 | $ | 643,620 | $ | (335,360) | $ | 2,127,585 | $ | (1,115,956) | $ | 1,665,474 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Bank of Hawai‘i Corporation and Subsidiaries | |||||||||||||||||||||||||||||||||||
Average Balances and Interest Rates - Taxable-Equivalent Basis 1 | Table 7a | ||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | Three Months Ended June 30, 2025 | Three Months Ended September 30, 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 | $ | 744.3 | $ | 8.2 | 4.31 | % | $ | 353.7 | $ | 3.8 | 4.27 | % | $ | 667.8 | $ | 9.0 | 5.27 | % | |||||||||||||||||
| Investment Securities | |||||||||||||||||||||||||||||||||||
| Available-for-Sale | |||||||||||||||||||||||||||||||||||
| Taxable | 3,157.8 | 29.3 | 3.70 | 2,987.2 | 26.7 | 3.58 | 2,430.0 | 23.0 | 3.80 | ||||||||||||||||||||||||||
| Non-Taxable | 32.4 | 0.5 | 5.98 | 27.4 | 0.4 | 5.85 | 11.8 | 0.2 | 6.63 | ||||||||||||||||||||||||||
| Held-to-Maturity | |||||||||||||||||||||||||||||||||||
| Taxable | 4,363.9 | 19.2 | 1.76 | 4,462.1 | 19.7 | 1.77 | 4,735.5 | 21.0 | 1.77 | ||||||||||||||||||||||||||
| Non-Taxable | 33.8 | 0.2 | 2.10 | 34.0 | 0.2 | 2.10 | 34.4 | 0.2 | 2.10 | ||||||||||||||||||||||||||
| Total Investment Securities | 7,587.9 | 49.2 | 2.59 | 7,510.7 | 47.0 | 2.50 | 7,211.7 | 44.4 | 2.46 | ||||||||||||||||||||||||||
| Loans Held for Sale | 1.6 | 0.0 | 5.92 | 2.2 | 0.0 | 5.66 | 3.8 | 0.1 | 6.13 | ||||||||||||||||||||||||||
Loans and Leases 3 | |||||||||||||||||||||||||||||||||||
| Commercial Mortgage | 4,016.3 | 54.3 | 5.36 | 4,025.2 | 53.7 | 5.35 | 3,744.6 | 52.0 | 5.51 | ||||||||||||||||||||||||||
| Commercial and Industrial | 1,600.7 | 20.5 | 5.09 | 1,668.1 | 21.1 | 5.07 | 1,665.3 | 22.6 | 5.42 | ||||||||||||||||||||||||||
| Construction | 394.4 | 7.3 | 7.32 | 366.2 | 6.7 | 7.30 | 357.3 | 7.1 | 7.95 | ||||||||||||||||||||||||||
| Commercial Lease Financing | 93.0 | 1.0 | 4.11 | 93.4 | 1.0 | 4.07 | 59.6 | 0.4 | 2.58 | ||||||||||||||||||||||||||
| Residential Mortgage | 4,638.1 | 46.7 | 4.02 | 4,626.5 | 45.6 | 3.95 | 4,593.7 | 46.4 | 4.03 | ||||||||||||||||||||||||||
| Home Equity | 2,129.6 | 23.9 | 4.46 | 2,141.5 | 23.3 | 4.37 | 2,206.9 | 22.4 | 4.04 | ||||||||||||||||||||||||||
| Automobile | 706.9 | 9.5 | 5.35 | 730.1 | 9.4 | 5.19 | 795.7 | 9.4 | 4.72 | ||||||||||||||||||||||||||
| Other | 403.0 | 7.7 | 7.63 | 398.0 | 7.5 | 7.53 | 386.9 | 6.9 | 7.13 | ||||||||||||||||||||||||||
| Total Loans and Leases | 13,982.0 | 170.9 | 4.86 | 14,049.0 | 168.3 | 4.80 | 13,810.0 | 167.2 | 4.82 | ||||||||||||||||||||||||||
| Other | 65.3 | 1.1 | 6.54 | 65.2 | 1.1 | 6.72 | 63.2 | 0.9 | 6.43 | ||||||||||||||||||||||||||
| Total Earning Assets | 22,381.1 | 229.4 | 4.08 | 21,980.8 | 220.2 | 4.01 | 21,756.5 | 221.7 | 4.06 | ||||||||||||||||||||||||||
| Non-Earning Assets | 1,613.9 | 1,616.2 | 1,582.0 | ||||||||||||||||||||||||||||||||
| Total Assets | $ | 23,995.0 | $ | 23,597.0 | $ | 23,338.5 | |||||||||||||||||||||||||||||
| Interest-Bearing Liabilities | |||||||||||||||||||||||||||||||||||
| Interest-Bearing Deposits | |||||||||||||||||||||||||||||||||||
| Demand | $ | 3,781.0 | $ | 7.8 | 0.81 | % | $ | 3,705.5 | $ | 7.6 | 0.82 | % | $ | 3,775.6 | $ | 8.9 | 0.94 | % | |||||||||||||||||
| Savings | 8,831.0 | 50.6 | 2.28 | 8,578.6 | 48.1 | 2.25 | 8,402.9 | 55.7 | 2.63 | ||||||||||||||||||||||||||
| Time | 3,057.6 | 26.2 | 3.40 | 3,050.0 | 26.8 | 3.52 | 3,008.7 | 31.5 | 4.17 | ||||||||||||||||||||||||||
| Total Interest-Bearing Deposits | 15,669.6 | 84.6 | 2.14 | 15,334.1 | 82.5 | 2.16 | 15,187.2 | 96.1 | 2.52 | ||||||||||||||||||||||||||
| Securities Sold Under Agreements to Repurchase | 50.0 | 0.5 | 3.89 | 50.0 | 0.5 | 3.88 | 100.5 | 1.0 | 3.87 | ||||||||||||||||||||||||||
| Other Debt | 558.3 | 6.0 | 4.23 | 558.3 | 5.9 | 4.23 | 560.1 | 5.9 | 4.24 | ||||||||||||||||||||||||||
| Total Interest-Bearing Liabilities | 16,277.9 | 91.1 | 2.22 | 15,942.4 | 88.9 | 2.24 | 15,847.8 | 103.0 | 2.59 | ||||||||||||||||||||||||||
| Net Interest Income | $ | 138.3 | $ | 131.3 | $ | 118.7 | |||||||||||||||||||||||||||||
| Interest Rate Spread | 1.86 | % | 1.77 | % | 1.47 | % | |||||||||||||||||||||||||||||
| Net Interest Margin | 2.46 | % | 2.39 | % | 2.18 | % | |||||||||||||||||||||||||||||
| Noninterest-Bearing Demand Deposits | 5,398.7 | 5,365.6 | 5,297.2 | ||||||||||||||||||||||||||||||||
| Other Liabilities | 569.8 | 584.6 | 571.6 | ||||||||||||||||||||||||||||||||
| Shareholders' Equity | 1,748.6 | 1,704.4 | 1,621.9 | ||||||||||||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 23,995.0 | $ | 23,597.0 | $ | 23,338.5 | |||||||||||||||||||||||||||||
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 $1.7 million, $1.6 million, and $1.0 million for the three months ended September 30, 2025, June 30, 2025, and September 30, 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 | ||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | ||||||||||||||||||||||
| (dollars in millions) | Average Balance | Income/Expense 2 | Yield/Rate | Average Balance | Income/Expense 2 | Yield/Rate | |||||||||||||||||
| Earning Assets | |||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 533.5 | $ | 17.5 | 4.32 | % | $ | 530.0 | $ | 21.3 | 5.28 | % | |||||||||||
| Investment Securities | |||||||||||||||||||||||
| Available-for-Sale | |||||||||||||||||||||||
| Taxable | 2,979.8 | 80.2 | 3.59 | 2,373.1 | 66.4 | 3.73 | |||||||||||||||||
| Non-Taxable | 27.0 | 1.2 | 5.85 | 5.0 | 0.2 | 5.59 | |||||||||||||||||
| Held-to-Maturity | |||||||||||||||||||||||
| Taxable | 4,457.6 | 59.0 | 1.77 | 4,832.9 | 64.4 | 1.78 | |||||||||||||||||
| Non-Taxable | 34.0 | 0.5 | 2.10 | 34.6 | 0.5 | 2.10 | |||||||||||||||||
| Total Investment Securities | 7,498.4 | 140.9 | 2.51 | 7,245.6 | 131.5 | 2.42 | |||||||||||||||||
| Loans Held for Sale | 2.0 | 0.1 | 5.89 | 2.5 | 0.1 | 6.16 | |||||||||||||||||
Loans and Leases 3 | |||||||||||||||||||||||
| Commercial Mortgage | 4,018.9 | 160.5 | 5.34 | 3,728.3 | 153.9 | 5.52 | |||||||||||||||||
| Commercial and Industrial | 1,657.1 | 62.9 | 5.07 | 1,673.6 | 67.1 | 5.36 | |||||||||||||||||
| Construction | 366.6 | 20.0 | 7.28 | 329.0 | 19.0 | 7.71 | |||||||||||||||||
| Commercial Lease Financing | 92.5 | 2.8 | 4.00 | 59.1 | 1.0 | 2.25 | |||||||||||||||||
| Residential Mortgage | 4,627.2 | 137.1 | 3.95 | 4,613.0 | 137.0 | 3.96 | |||||||||||||||||
| Home Equity | 2,141.8 | 69.7 | 4.35 | 2,229.5 | 65.3 | 3.91 | |||||||||||||||||
| Automobile | 729.7 | 28.3 | 5.18 | 813.3 | 27.5 | 4.51 | |||||||||||||||||
| Other | 397.0 | 22.3 | 7.52 | 391.0 | 20.2 | 6.91 | |||||||||||||||||
| Total Loans and Leases | 14,030.8 | 503.6 | 4.80 | 13,836.8 | 491.0 | 4.74 | |||||||||||||||||
| Other | 65.2 | 3.2 | 6.64 | 62.6 | 3.1 | 6.61 | |||||||||||||||||
| Total Earning Assets | 22,129.9 | 665.3 | 4.01 | 21,677.5 | 647.0 | 3.98 | |||||||||||||||||
| Non-Earning Assets | 1,614.8 | 1,577.9 | |||||||||||||||||||||
| Total Assets | $ | 23,744.7 | $ | 23,255.4 | |||||||||||||||||||
| Interest-Bearing Liabilities | |||||||||||||||||||||||
| Interest-Bearing Deposits | |||||||||||||||||||||||
| Demand | $ | 3,753.3 | $ | 22.4 | 0.80 | % | $ | 3,776.1 | $ | 25.4 | 0.90 | % | |||||||||||
| Savings | 8,652.4 | 146.0 | 2.25 | 8,264.9 | 157.1 | 2.54 | |||||||||||||||||
| Time | 3,048.4 | 80.4 | 3.53 | 3,008.6 | 94.2 | 4.18 | |||||||||||||||||
| Total Interest-Bearing Deposits | 15,454.1 | 248.8 | 2.15 | 15,049.6 | 276.7 | 2.46 | |||||||||||||||||
| Securities Sold Under Agreements to Repurchase | 58.8 | 1.7 | 3.88 | 124.2 | 3.6 | 3.82 | |||||||||||||||||
| Other Debt | 564.9 | 17.8 | 4.23 | 561.3 | 17.8 | 4.25 | |||||||||||||||||
| Total Interest-Bearing Liabilities | 16,077.8 | 268.3 | 2.23 | 15,735.1 | 298.1 | 2.53 | |||||||||||||||||
| Net Interest Income | $ | 397.0 | $ | 348.8 | |||||||||||||||||||
| Interest Rate Spread | 1.78 | % | 1.45 | % | |||||||||||||||||||
| Net Interest Margin | 2.39 | % | 2.15 | % | |||||||||||||||||||
| Noninterest-Bearing Demand Deposits | 5,359.9 | 5,412.6 | |||||||||||||||||||||
| Other Liabilities | 597.2 | 615.1 | |||||||||||||||||||||
| Shareholders' Equity | 1,709.8 | 1,492.6 | |||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 23,744.7 | $ | 23,255.4 | |||||||||||||||||||
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 $4.8 million and $2.5 million for the nine months ended September 30, 2025 and September 30, 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 September 30, 2025 | |||||||||||||||||
Compared to June 30, 2025 | |||||||||||||||||
| (dollars in millions) | Volume 1 | Rate 1 | Total | ||||||||||||||
| Change in Interest Income: | |||||||||||||||||
| Cash and Cash Equivalents | $ | 4.4 | $ | 0.0 | $ | 4.4 | |||||||||||
| Investment Securities | |||||||||||||||||
| Available-for-Sale | |||||||||||||||||
| Taxable | 1.6 | 1.0 | 2.6 | ||||||||||||||
| Non-Taxable | 0.1 | 0.0 | 0.1 | ||||||||||||||
| Held-to-Maturity | |||||||||||||||||
| Taxable | (0.4) | (0.1) | (0.5) | ||||||||||||||
| Non-Taxable | 0.0 | 0.0 | 0.0 | ||||||||||||||
| Total Investment Securities | 1.3 | 0.9 | 2.2 | ||||||||||||||
| Loans Held for Sale | 0.0 | 0.0 | 0.0 | ||||||||||||||
| Loans and Leases | |||||||||||||||||
| Commercial Mortgage | 0.2 | 0.4 | 0.6 | ||||||||||||||
| Commercial and Industrial | (0.7) | 0.1 | (0.6) | ||||||||||||||
| Construction | 0.6 | 0.0 | 0.6 | ||||||||||||||
| Commercial Lease Financing | 0.0 | 0.0 | 0.0 | ||||||||||||||
| Residential Mortgage | 0.1 | 1.0 | 1.1 | ||||||||||||||
| Home Equity | (0.1) | 0.7 | 0.6 | ||||||||||||||
| Automobile | (0.2) | 0.3 | 0.1 | ||||||||||||||
| Other | 0.1 | 0.1 | 0.2 | ||||||||||||||
| Total Loans and Leases | 0.0 | 2.6 | 2.6 | ||||||||||||||
| Other | 0.0 | 0.0 | 0.0 | ||||||||||||||
| Total Change in Interest Income | 5.7 | 3.5 | 9.2 | ||||||||||||||
| Change in Interest Expense: | |||||||||||||||||
| Interest-Bearing Deposits | |||||||||||||||||
| Demand | 0.2 | 0.0 | 0.2 | ||||||||||||||
| Savings | 1.8 | 0.7 | 2.5 | ||||||||||||||
| Time | 0.1 | (0.7) | (0.6) | ||||||||||||||
| Total Interest-Bearing Deposits | 2.1 | 0.0 | 2.1 | ||||||||||||||
| Securities Sold Under Agreements to Repurchase | — | 0.0 | 0.0 | ||||||||||||||
| Other Debt | 0.1 | 0.0 | 0.1 | ||||||||||||||
| Total Change in Interest Expense | 2.2 | 0.0 | 2.2 | ||||||||||||||
| Change in Net Interest Income | $ | 3.5 | $ | 3.5 | $ | 7.0 | |||||||||||
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 September 30, 2025 | |||||||||||||||||
Compared to September 30, 2024 | |||||||||||||||||
| (dollars in millions) | Volume 1 | Rate 1 | Total | ||||||||||||||
| Change in Interest Income: | |||||||||||||||||
| Cash and Cash Equivalents | $ | 1.0 | $ | (1.8) | $ | (0.8) | |||||||||||
| Investment Securities | |||||||||||||||||
| Available-for-Sale | |||||||||||||||||
| Taxable | 6.8 | (0.5) | 6.3 | ||||||||||||||
| Non-Taxable | 0.3 | 0.0 | 0.3 | ||||||||||||||
| Held-to-Maturity | |||||||||||||||||
| Taxable | (1.6) | (0.2) | (1.8) | ||||||||||||||
| Non-Taxable | 0.0 | — | 0.0 | ||||||||||||||
| Total Investment Securities | 5.5 | (0.7) | 4.8 | ||||||||||||||
| Loans Held for Sale | (0.1) | 0.0 | (0.1) | ||||||||||||||
| Loans and Leases | |||||||||||||||||
| Commercial Mortgage | 3.7 | (1.4) | 2.3 | ||||||||||||||
| Commercial and Industrial | (0.8) | (1.3) | (2.1) | ||||||||||||||
| Construction | 0.8 | (0.6) | 0.2 | ||||||||||||||
| Commercial Lease Financing | 0.5 | 0.1 | 0.6 | ||||||||||||||
| Residential Mortgage | 0.4 | (0.1) | 0.3 | ||||||||||||||
| Home Equity | (0.8) | 2.3 | 1.5 | ||||||||||||||
| Automobile | (1.1) | 1.2 | 0.1 | ||||||||||||||
| Other | 0.3 | 0.5 | 0.8 | ||||||||||||||
| Total Loans and Leases | 3.0 | 0.7 | 3.7 | ||||||||||||||
| Other | 0.1 | 0.1 | 0.2 | ||||||||||||||
| Total Change in Interest Income | 9.5 | (1.7) | 7.8 | ||||||||||||||
| Change in Interest Expense: | |||||||||||||||||
| Interest-Bearing Deposits | |||||||||||||||||
| Demand | 0.0 | (1.1) | (1.1) | ||||||||||||||
| Savings | 2.7 | (7.8) | (5.1) | ||||||||||||||
| Time | 0.6 | (5.9) | (5.3) | ||||||||||||||
| Total Interest-Bearing Deposits | 3.3 | (14.8) | (11.5) | ||||||||||||||
| Securities Sold Under Agreements to Repurchase | (0.5) | 0.0 | (0.5) | ||||||||||||||
| Other Debt | 0.0 | 0.1 | 0.1 | ||||||||||||||
| Total Change in Interest Expense | 2.8 | (14.7) | (11.9) | ||||||||||||||
| Change in Net Interest Income | $ | 6.7 | $ | 13.0 | $ | 19.7 | |||||||||||
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 | ||||||||||||||||
Nine Months Ended September 30, 2025 | |||||||||||||||||
Compared to September 30, 2024 | |||||||||||||||||
| (dollars in millions) | Volume 1 | Rate 1 | Total | ||||||||||||||
| Change in Interest Income: | |||||||||||||||||
| Cash and Cash Equivalents | $ | 0.1 | $ | (3.9) | $ | (3.8) | |||||||||||
| Investment Securities | |||||||||||||||||
| Available-for-Sale | |||||||||||||||||
| Taxable | 16.3 | (2.5) | 13.8 | ||||||||||||||
| Non-Taxable | 1.0 | 0.0 | 1.0 | ||||||||||||||
| Held-to-Maturity | |||||||||||||||||
| Taxable | (5.0) | (0.4) | (5.4) | ||||||||||||||
| Non-Taxable | 0.0 | 0.0 | 0.0 | ||||||||||||||
| Total Investment Securities | 12.3 | (2.9) | 9.4 | ||||||||||||||
| Loans Held for Sale | 0.0 | 0.0 | 0.0 | ||||||||||||||
| Loans and Leases | |||||||||||||||||
| Commercial Mortgage | 11.7 | (5.1) | 6.6 | ||||||||||||||
| Commercial and Industrial | (0.6) | (3.6) | (4.2) | ||||||||||||||
| Construction | 2.1 | (1.1) | 1.0 | ||||||||||||||
| Commercial Lease Financing | 1.4 | 0.4 | 1.8 | ||||||||||||||
| Residential Mortgage | 0.4 | (0.3) | 0.1 | ||||||||||||||
| Home Equity | (2.7) | 7.1 | 4.4 | ||||||||||||||
| Automobile | (3.0) | 3.8 | 0.8 | ||||||||||||||
| Other | 0.3 | 1.8 | 2.1 | ||||||||||||||
| Total Loans and Leases | 9.6 | 3.0 | 12.6 | ||||||||||||||
| Other | 0.1 | 0.0 | 0.1 | ||||||||||||||
| Total Change in Interest Income | 22.1 | (3.8) | 18.3 | ||||||||||||||
| Change in Interest Expense: | |||||||||||||||||
| Interest-Bearing Deposits | |||||||||||||||||
| Demand | (0.2) | (2.8) | (3.0) | ||||||||||||||
| Savings | 7.1 | (18.2) | (11.1) | ||||||||||||||
| Time | 1.2 | (15.0) | (13.8) | ||||||||||||||
| Total Interest-Bearing Deposits | 8.1 | (36.0) | (27.9) | ||||||||||||||
| Securities Sold Under Agreements to Repurchase | (2.0) | 0.1 | (1.9) | ||||||||||||||
| Other Debt | 0.1 | (0.1) | 0.0 | ||||||||||||||
| Total Change in Interest Expense | 6.2 | (36.0) | (29.8) | ||||||||||||||
| Change in Net Interest Income | $ | 15.9 | $ | 32.2 | $ | 48.1 | |||||||||||
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 | Nine Months Ended | |||||||||||||||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |||||||||||||||||||||||||||
| Salaries | $ | 40,428 | $ | 39,644 | $ | 38,993 | $ | 118,314 | $ | 115,686 | ||||||||||||||||||||||
| Incentive Compensation | 4,280 | 5,067 | 5,086 | 14,920 | 11,285 | |||||||||||||||||||||||||||
| Share-Based Compensation | 3,979 | 3,668 | 3,364 | 11,148 | 10,459 | |||||||||||||||||||||||||||
| Medical, Dental, and Life Insurance | 3,908 | 3,610 | 3,512 | 12,055 | 9,935 | |||||||||||||||||||||||||||
| Retirement and Other Benefits | 3,895 | 3,894 | 3,692 | 12,850 | 11,952 | |||||||||||||||||||||||||||
| Payroll Taxes | 2,998 | 2,998 | 2,839 | 10,762 | 10,639 | |||||||||||||||||||||||||||
| Separation Expense | 2,091 | 1,374 | 161 | 3,546 | 1,428 | |||||||||||||||||||||||||||
| Commission Expense | 1,326 | 1,053 | 979 | 3,502 | 2,490 | |||||||||||||||||||||||||||
| Total Salaries and Benefits | $ | 62,905 | $ | 61,308 | $ | 58,626 | $ | 187,097 | $ | 173,874 | ||||||||||||||||||||||
| Bank of Hawai‘i Corporation and Subsidiaries | |||||||||||||||||||||||||||||
| Loan and Lease Portfolio Balances | Table 10 | ||||||||||||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||||
| Commercial | |||||||||||||||||||||||||||||
| Commercial Mortgage | $ | 4,040,711 | $ | 4,038,956 | $ | 4,038,287 | $ | 4,020,622 | $ | 3,868,566 | |||||||||||||||||||
| Commercial and Industrial | 1,581,232 | 1,597,560 | 1,703,290 | 1,705,133 | 1,681,693 | ||||||||||||||||||||||||
| Construction | 380,944 | 374,768 | 363,716 | 308,898 | 319,150 | ||||||||||||||||||||||||
| Lease Financing | 92,213 | 92,842 | 92,456 | 90,756 | 60,665 | ||||||||||||||||||||||||
| Total Commercial | 6,095,100 | 6,104,126 | 6,197,749 | 6,125,409 | 5,930,074 | ||||||||||||||||||||||||
| Consumer | |||||||||||||||||||||||||||||
| Residential Mortgage | 4,685,214 | 4,637,014 | 4,630,876 | 4,628,283 | 4,622,677 | ||||||||||||||||||||||||
| Home Equity | 2,129,599 | 2,139,025 | 2,144,955 | 2,165,514 | 2,195,844 | ||||||||||||||||||||||||
| Automobile | 699,244 | 715,688 | 740,390 | 764,146 | 786,910 | ||||||||||||||||||||||||
| Other | 412,422 | 406,325 | 401,353 | 392,628 | 383,078 | ||||||||||||||||||||||||
| Total Consumer | 7,926,479 | 7,898,052 | 7,917,574 | 7,950,571 | 7,988,509 | ||||||||||||||||||||||||
| Total Loans and Leases | $ | 14,021,579 | $ | 14,002,178 | $ | 14,115,323 | $ | 14,075,980 | $ | 13,918,583 | |||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||||
| Consumer | $ | 10,393,932 | $ | 10,429,271 | $ | 10,522,627 | $ | 10,397,777 | $ | 10,340,466 | |||||||||||||||||||
| Commercial | 8,348,396 | 8,243,898 | 8,411,838 | 8,299,590 | 8,356,239 | ||||||||||||||||||||||||
| Public and Other | 2,338,341 | 2,125,745 | 2,073,752 | 1,935,670 | 2,281,617 | ||||||||||||||||||||||||
| Total Deposits | $ | 21,080,669 | $ | 20,798,914 | $ | 21,008,217 | $ | 20,633,037 | $ | 20,978,322 | |||||||||||||||||||
| Average Deposits | |||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||||
| Consumer | $ | 10,387,715 | $ | 10,435,867 | $ | 10,408,747 | $ | 10,327,928 | $ | 10,345,772 | |||||||||||||||||||
| Commercial | 8,504,078 | 8,316,893 | 8,318,182 | 8,564,213 | 8,207,310 | ||||||||||||||||||||||||
| Public and Other | 2,176,493 | 1,946,933 | 1,942,610 | 1,864,541 | 1,931,309 | ||||||||||||||||||||||||
| Total Deposits | $ | 21,068,286 | $ | 20,699,693 | $ | 20,669,539 | $ | 20,756,682 | $ | 20,484,391 | |||||||||||||||||||
| 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) | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||||
| Non-Performing Assets | |||||||||||||||||||||||||||||
| Non-Accrual Loans and Leases | |||||||||||||||||||||||||||||
| Commercial | |||||||||||||||||||||||||||||
| Commercial Mortgage | $ | 2,498 | $ | 2,566 | $ | 2,195 | $ | 2,450 | $ | 2,680 | |||||||||||||||||||
| Commercial and Industrial | 3,506 | 3,744 | 3,451 | 4,627 | 6,218 | ||||||||||||||||||||||||
| Total Commercial | 6,004 | 6,310 | 5,646 | 7,077 | 8,898 | ||||||||||||||||||||||||
| Consumer | |||||||||||||||||||||||||||||
| Residential Mortgage | 5,628 | 5,842 | 4,686 | 5,052 | 4,269 | ||||||||||||||||||||||||
| Home Equity | 5,107 | 5,387 | 5,759 | 4,514 | 3,947 | ||||||||||||||||||||||||
| Total Consumer | 10,735 | 11,229 | 10,445 | 9,566 | 8,216 | ||||||||||||||||||||||||
| Total Non-Accrual Loans and Leases | 16,739 | 17,539 | 16,091 | 16,643 | 17,114 | ||||||||||||||||||||||||
| Foreclosed Real Estate | 125 | 342 | 1,360 | 2,657 | 2,667 | ||||||||||||||||||||||||
| Total Non-Performing Assets | $ | 16,864 | $ | 17,881 | $ | 17,451 | $ | 19,300 | $ | 19,781 | |||||||||||||||||||
| Accruing Loans and Leases Past Due 90 Days or More | |||||||||||||||||||||||||||||
| Consumer | |||||||||||||||||||||||||||||
| Residential Mortgage | $ | 7,456 | $ | 9,070 | $ | 3,895 | $ | 3,984 | $ | 4,421 | |||||||||||||||||||
| Home Equity | 2,765 | 1,867 | 2,228 | 2,845 | 1,980 | ||||||||||||||||||||||||
| Automobile | 525 | 680 | 486 | 776 | 580 | ||||||||||||||||||||||||
| Other | 578 | 630 | 943 | 677 | 554 | ||||||||||||||||||||||||
| Total Consumer | 11,324 | 12,247 | 7,552 | 8,282 | 7,535 | ||||||||||||||||||||||||
| Total Accruing Loans and Leases Past Due 90 Days or More | $ | 11,324 | $ | 12,247 | $ | 7,552 | $ | 8,282 | $ | 7,535 | |||||||||||||||||||
| Total Loans and Leases | $ | 14,021,579 | $ | 14,002,178 | $ | 14,115,323 | $ | 14,075,980 | $ | 13,918,583 | |||||||||||||||||||
| Ratio of Non-Accrual Loans and Leases to Total Loans and Leases | 0.12 | % | 0.13 | % | 0.11 | % | 0.12 | % | 0.12 | % | |||||||||||||||||||
| Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate | 0.12 | % | 0.13 | % | 0.12 | % | 0.14 | % | 0.14 | % | |||||||||||||||||||
| Ratio of Non-Performing Assets to Total Assets | 0.07 | % | 0.08 | % | 0.07 | % | 0.08 | % | 0.08 | % | |||||||||||||||||||
| Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate | 0.10 | % | 0.10 | % | 0.09 | % | 0.12 | % | 0.15 | % | |||||||||||||||||||
| Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate | 0.14 | % | 0.15 | % | 0.15 | % | 0.15 | % | 0.14 | % | |||||||||||||||||||
| 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 | 0.20 | % | 0.22 | % | 0.18 | % | 0.20 | % | 0.20 | % | |||||||||||||||||||
| Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter | $ | 17,881 | $ | 17,451 | $ | 19,300 | $ | 19,781 | $ | 15,179 | |||||||||||||||||||
Additions 1 | 959 | 3,522 | 2,209 | 2,198 | 5,557 | ||||||||||||||||||||||||
| Reductions | |||||||||||||||||||||||||||||
| Payments | (804) | (1,424) | (1,212) | (708) | (734) | ||||||||||||||||||||||||
| Return to Accrual Status | (321) | (574) | (244) | (476) | (81) | ||||||||||||||||||||||||
| Sales of Foreclosed Real Estate | (216) | (1,040) | (1,492) | - | - | ||||||||||||||||||||||||
Charge-offs / Write-downs 1 | (635) | (54) | (1,110) | (1,495) | (140) | ||||||||||||||||||||||||
| Total Reductions | (1,976) | (3,092) | (4,058) | (2,679) | (955) | ||||||||||||||||||||||||
| Balance at End of Quarter | $ | 16,864 | $ | 17,881 | $ | 17,451 | $ | 19,300 | $ | 19,781 | |||||||||||||||||||
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 | Nine Months Ended | |||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |||||||||||||||
| Balance at Beginning of Period | $ | 150,128 | $ | 149,496 | $ | 151,155 | $ | 150,649 | $ | 152,429 | ||||||||||
| Loans and Leases Charged-Off | ||||||||||||||||||||
| Commercial | ||||||||||||||||||||
| Commercial and Industrial | (171) | (206) | (1,021) | (1,776) | (2,256) | |||||||||||||||
| Consumer | ||||||||||||||||||||
| Residential Mortgage | — | — | — | — | (48) | |||||||||||||||
| Home Equity | (28) | (155) | (125) | (258) | (362) | |||||||||||||||
| Automobile | (1,368) | (1,253) | (1,651) | (4,372) | (3,794) | |||||||||||||||
| Other | (2,392) | (2,397) | (2,539) | (7,273) | (7,461) | |||||||||||||||
| Total Loans and Leases Charged-Off | (3,959) | (4,011) | (5,336) | (13,679) | (13,921) | |||||||||||||||
| Recoveries on Loans and Leases Previously Charged-Off | ||||||||||||||||||||
| Commercial | ||||||||||||||||||||
| Commercial and Industrial | 98 | 78 | 66 | 253 | 445 | |||||||||||||||
| Consumer | ||||||||||||||||||||
| Residential Mortgage | 58 | 11 | 48 | 80 | 153 | |||||||||||||||
| Home Equity | 177 | 180 | 318 | 485 | 615 | |||||||||||||||
| Automobile | 559 | 557 | 552 | 1,749 | 1,559 | |||||||||||||||
| Other | 490 | 567 | 522 | 1,514 | 1,645 | |||||||||||||||
| Total Recoveries on Loans and Leases Previously Charged-Off | 1,382 | 1,393 | 1,506 | 4,081 | 4,417 | |||||||||||||||
| Net Charged-Off - Loans and Leases | (2,577) | (2,618) | (3,830) | (9,598) | (9,504) | |||||||||||||||
| Provision for Credit Losses: | ||||||||||||||||||||
| Loans and Leases | 2,812 | 3,454 | 3,684 | 9,848 | 10,432 | |||||||||||||||
| Unfunded Commitments | (312) | (204) | (684) | (848) | (3,032) | |||||||||||||||
| Total Provision for Credit Losses | 2,500 | 3,250 | 3,000 | 9,000 | 7,400 | |||||||||||||||
| Balance at End of Period | $ | 150,051 | $ | 150,128 | $ | 150,325 | $ | 150,051 | $ | 150,325 | ||||||||||
| Components | ||||||||||||||||||||
| Allowance for Credit Losses - Loans and Leases | $ | 148,778 | $ | 148,543 | $ | 147,331 | $ | 148,778 | $ | 147,331 | ||||||||||
| Reserve for Unfunded Commitments | 1,273 | 1,585 | 2,994 | 1,273 | 2,994 | |||||||||||||||
| Total Reserve for Credit Losses | $ | 150,051 | $ | 150,128 | $ | 150,325 | $ | 150,051 | $ | 150,325 | ||||||||||
| Average Loans and Leases Outstanding | $ | 13,982,003 | $ | 14,049,025 | $ | 13,809,977 | $ | 14,030,773 | $ | 13,836,760 | ||||||||||
| Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized) | 0.07 | % | 0.07 | % | 0.11 | % | 0.09 | % | 0.09 | % | ||||||||||
Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1 | 1.06 | % | 1.06 | % | 1.06 | % | 1.06 | % | 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 September 30, 2025 | |||||||||||||||||||||||
| Net Interest Income (Expense) | $ | 95,948 | $ | 54,196 | $ | (13,469) | $ | 136,675 | |||||||||||||||
| Provision for (Recapture of) Credit Losses | 2,578 | (1) | (77) | 2,500 | |||||||||||||||||||
| Net Interest Income (Expense) After Provision for Credit Losses | 93,370 | 54,197 | (13,392) | 134,175 | |||||||||||||||||||
| Noninterest Income | 33,870 | 9,550 | 2,546 | 45,966 | |||||||||||||||||||
| Salaries and Benefits | 21,318 | 5,103 | 36,484 | 62,905 | |||||||||||||||||||
| Net Occupancy | 7,392 | 396 | 3,144 | 10,932 | |||||||||||||||||||
| Other Noninterest Expense | 58,412 | 13,759 | (33,621) | 38,550 | |||||||||||||||||||
| Noninterest Expense | 87,122 | 19,258 | 6,007 | 112,387 | |||||||||||||||||||
| Income (Loss) Before Provision for Income Taxes | 40,118 | 44,489 | (16,853) | 67,754 | |||||||||||||||||||
| Provision (Benefit) for Income Taxes | 10,200 | 11,398 | (7,189) | 14,409 | |||||||||||||||||||
| Net Income (Loss) | $ | 29,918 | $ | 33,091 | $ | (9,664) | $ | 53,345 | |||||||||||||||
| Total Assets as of September 30, 2025 | $ | 8,282,239 | $ | 6,120,551 | $ | 9,611,819 | $ | 24,014,609 | |||||||||||||||
| Three Months Ended September 30, 2024 ¹ | |||||||||||||||||||||||
| Net Interest Income (Expense) | $ | 97,919 | $ | 50,556 | $ | (30,857) | $ | 117,618 | |||||||||||||||
| Provision for (Recapture of) Credit Losses | 3,058 | 772 | (830) | 3,000 | |||||||||||||||||||
| Net Interest Income (Expense) After Provision for Credit Losses | 94,861 | 49,784 | (30,027) | 114,618 | |||||||||||||||||||
| Noninterest Income | 34,133 | 7,786 | 3,191 | 45,110 | |||||||||||||||||||
| Salaries and Benefits | 20,419 | 5,035 | 33,172 | 58,626 | |||||||||||||||||||
| Net Occupancy | 6,864 | 475 | 3,467 | 10,806 | |||||||||||||||||||
| Other Noninterest Expense | 57,429 | 13,315 | (33,084) | 37,660 | |||||||||||||||||||
| Noninterest Expense | 84,712 | 18,825 | 3,555 | 107,092 | |||||||||||||||||||
| Income (Loss) Before Provision for Income Taxes | 44,282 | 38,745 | (30,391) | 52,636 | |||||||||||||||||||
| Provision (Benefit) for Income Taxes | 11,289 | 9,816 | (8,827) | 12,278 | |||||||||||||||||||
| Net Income (Loss) | $ | 32,993 | $ | 28,929 | $ | (21,564) | $ | 40,358 | |||||||||||||||
| Total Assets as of September 30, 2024 | $ | 8,308,389 | $ | 5,952,321 | $ | 9,538,464 | $ | 23,799,174 | |||||||||||||||
| Nine Months Ended September 30, 2025 | |||||||||||||||||||||||
| Net Interest Income (Expense) | $ | 286,911 | $ | 163,719 | $ | (58,465) | $ | 392,165 | |||||||||||||||
| Provision for (Recapture of) Credit Losses | 8,492 | 1,106 | (598) | 9,000 | |||||||||||||||||||
| Net Interest Income (Expense) After Provision for Credit Losses | 278,419 | 162,613 | (57,867) | 383,165 | |||||||||||||||||||
| Noninterest Income | 101,349 | 23,448 | 10,022 | 134,819 | |||||||||||||||||||
| Salaries and Benefits | 63,455 | 15,400 | 108,242 | 187,097 | |||||||||||||||||||
| Net Occupancy | 21,601 | 1,198 | 9,191 | 31,990 | |||||||||||||||||||
| Other Noninterest Expense | 175,243 | 41,176 | (101,877) | 114,542 | |||||||||||||||||||
| Noninterest Expense | 260,299 | 57,774 | 15,556 | 333,629 | |||||||||||||||||||
| Income (Loss) Before Provision for Income Taxes | 119,469 | 128,287 | (63,401) | 184,355 | |||||||||||||||||||
| Provision (Benefit) for Income Taxes | 30,362 | 32,813 | (23,787) | 39,388 | |||||||||||||||||||
| Net Income (Loss) | $ | 89,107 | $ | 95,474 | $ | (39,614) | $ | 144,967 | |||||||||||||||
| Total Assets as of September 30, 2025 | $ | 8,282,239 | $ | 6,120,551 | $ | 9,611,819 | $ | 24,014,609 | |||||||||||||||
| Nine Months Ended September 30, 2024 ¹ | |||||||||||||||||||||||
| Net Interest Income (Expense) | $ | 293,118 | $ | 152,934 | $ | (99,650) | $ | 346,402 | |||||||||||||||
| Provision for (Recapture of) Credit Losses | 8,218 | 1,239 | (2,057) | 7,400 | |||||||||||||||||||
| Net Interest Income (Expense) After Provision for Credit Losses | 284,900 | 151,695 | (97,593) | 339,002 | |||||||||||||||||||
| Noninterest Income | 99,768 | 21,278 | 8,436 | 129,482 | |||||||||||||||||||
| Salaries and Benefits | 61,493 | 15,636 | 96,745 | 173,874 | |||||||||||||||||||
| Net Occupancy | 20,476 | 1,343 | 10,002 | 31,821 | |||||||||||||||||||
| Other Noninterest Expense | 172,459 | 38,499 | (94,476) | 116,482 | |||||||||||||||||||
| Noninterest Expense | 254,428 | 55,478 | 12,271 | 322,177 | |||||||||||||||||||
| Income (Loss) Before Provision for Income Taxes | 130,240 | 117,495 | (101,428) | 146,307 | |||||||||||||||||||
| Provision (Benefit) for Income Taxes | 33,154 | 29,711 | (27,390) | 35,475 | |||||||||||||||||||
| Net Income (Loss) | $ | 97,086 | $ | 87,784 | $ | (74,038) | $ | 110,832 | |||||||||||||||
| Total Assets as of September 30, 2024 | $ | 8,308,389 | $ | 5,952,321 | $ | 9,538,464 | $ | 23,799,174 | |||||||||||||||
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) | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | ||||||||||||||||||||||||
| Quarterly Operating Results | |||||||||||||||||||||||||||||
| Interest Income | |||||||||||||||||||||||||||||
| Interest and Fees on Loans and Leases | $ | 169,411 | $ | 166,779 | $ | 163,082 | $ | 164,785 | $ | 166,286 | |||||||||||||||||||
| Income on Investment Securities | |||||||||||||||||||||||||||||
| Available-for-Sale | 29,702 | 27,007 | 24,368 | 23,223 | 23,257 | ||||||||||||||||||||||||
| Held-to-Maturity | 19,332 | 19,835 | 20,291 | 20,677 | 21,107 | ||||||||||||||||||||||||
| Cash and Cash Equivalents | 8,195 | 3,817 | 5,460 | 9,425 | 8,980 | ||||||||||||||||||||||||
| Other | 1,068 | 1,097 | 1,085 | 1,107 | 1,018 | ||||||||||||||||||||||||
| Total Interest Income | 227,708 | 218,535 | 214,286 | 219,217 | 220,648 | ||||||||||||||||||||||||
| Interest Expense | |||||||||||||||||||||||||||||
| Deposits | 84,590 | 82,476 | 81,692 | 92,099 | 96,067 | ||||||||||||||||||||||||
| Securities Sold Under Agreements to Repurchase | 496 | 491 | 744 | 992 | 993 | ||||||||||||||||||||||||
| Other Debt | 5,947 | 5,885 | 6,043 | 5,948 | 5,970 | ||||||||||||||||||||||||
| Total Interest Expense | 91,033 | 88,852 | 88,479 | 99,039 | 103,030 | ||||||||||||||||||||||||
| Net Interest Income | 136,675 | 129,683 | 125,807 | 120,178 | 117,618 | ||||||||||||||||||||||||
| Provision for Credit Losses | 2,500 | 3,250 | 3,250 | 3,750 | 3,000 | ||||||||||||||||||||||||
| Net Interest Income After Provision for Credit Losses | 134,175 | 126,433 | 122,557 | 116,428 | 114,618 | ||||||||||||||||||||||||
| Noninterest Income | |||||||||||||||||||||||||||||
| Fees, Exchange, and Other Service Charges | 15,219 | 14,383 | 14,437 | 14,399 | 14,945 | ||||||||||||||||||||||||
| Trust and Asset Management | 12,598 | 12,097 | 11,741 | 12,157 | 11,916 | ||||||||||||||||||||||||
| Service Charges on Deposit Accounts | 8,510 | 8,119 | 8,259 | 8,678 | 8,075 | ||||||||||||||||||||||||
| Bank-Owned Life Insurance | 3,681 | 3,714 | 3,611 | 3,283 | 3,533 | ||||||||||||||||||||||||
| Annuity and Insurance | 1,095 | 1,437 | 1,555 | 1,347 | 1,460 | ||||||||||||||||||||||||
| Mortgage Banking | 906 | 849 | 988 | 942 | 1,188 | ||||||||||||||||||||||||
| Investment Securities Losses, Net | (1,945) | (1,126) | (1,607) | (3,306) | (1,103) | ||||||||||||||||||||||||
| Other | 5,902 | 5,322 | 5,074 | 5,547 | 5,096 | ||||||||||||||||||||||||
| Total Noninterest Income | 45,966 | 44,795 | 44,058 | 43,047 | 45,110 | ||||||||||||||||||||||||
| Noninterest Expense | |||||||||||||||||||||||||||||
| Salaries and Benefits | 62,905 | 61,308 | 62,884 | 58,690 | 58,626 | ||||||||||||||||||||||||
| Net Occupancy | 10,932 | 10,499 | 10,559 | 10,263 | 10,806 | ||||||||||||||||||||||||
| Net Equipment | 10,285 | 9,977 | 10,192 | 10,308 | 10,120 | ||||||||||||||||||||||||
| Data Processing | 5,603 | 5,456 | 5,267 | 5,313 | 4,712 | ||||||||||||||||||||||||
| Professional Fees | 4,022 | 4,263 | 4,264 | 4,988 | 4,725 | ||||||||||||||||||||||||
| FDIC Insurance | 3,508 | 3,640 | 1,642 | 3,711 | 3,355 | ||||||||||||||||||||||||
| Other | 15,132 | 15,640 | 15,651 | 14,658 | 14,748 | ||||||||||||||||||||||||
| Total Noninterest Expense | 112,387 | 110,783 | 110,459 | 107,931 | 107,092 | ||||||||||||||||||||||||
| Income Before Provision for Income Taxes | 67,754 | 60,445 | 56,156 | 51,544 | 52,636 | ||||||||||||||||||||||||
| Provision for Income Taxes | 14,409 | 12,808 | 12,171 | 12,382 | 12,278 | ||||||||||||||||||||||||
| Net Income | $ | 53,345 | $ | 47,637 | $ | 43,985 | $ | 39,162 | $ | 40,358 | |||||||||||||||||||
| Preferred Stock Dividends | 5,269 | 5,269 | 5,269 | 5,269 | 3,436 | ||||||||||||||||||||||||
| Net Income Available to Common Shareholders | $ | 48,076 | $ | 42,368 | $ | 38,716 | $ | 33,893 | $ | 36,922 | |||||||||||||||||||
| Basic Earnings Per Common Share | $ | 1.21 | $ | 1.07 | $ | 0.98 | $ | 0.86 | $ | 0.94 | |||||||||||||||||||
| Diluted Earnings Per Common Share | $ | 1.20 | $ | 1.06 | $ | 0.97 | $ | 0.85 | $ | 0.93 | |||||||||||||||||||
| Balance Sheet Totals | |||||||||||||||||||||||||||||
| Loans and Leases | $ | 14,021,579 | $ | 14,002,178 | $ | 14,115,323 | $ | 14,075,980 | $ | 13,918,583 | |||||||||||||||||||
| Total Assets | 24,014,609 | 23,709,752 | 23,885,056 | 23,601,114 | 23,799,174 | ||||||||||||||||||||||||
| Total Deposits | 21,080,669 | 20,798,914 | 21,008,217 | 20,633,037 | 20,978,322 | ||||||||||||||||||||||||
| Total Shareholders' Equity | 1,791,183 | 1,743,107 | 1,704,935 | 1,667,774 | 1,665,474 | ||||||||||||||||||||||||
| Performance Ratios | |||||||||||||||||||||||||||||
| Return on Average Assets | 0.88 | % | 0.81 | % | 0.75 | % | 0.66 | % | 0.69 | % | |||||||||||||||||||
| Return on Average Shareholders' Equity | 12.10 | 11.21 | 10.65 | 9.42 | 9.90 | ||||||||||||||||||||||||
| Return on Average Common Equity | 13.59 | 12.50 | 11.80 | 10.30 | 11.50 | ||||||||||||||||||||||||
Efficiency Ratio 1 | 61.53 | 63.49 | 65.03 | 66.12 | 65.81 | ||||||||||||||||||||||||
Net Interest Margin 2 | 2.46 | 2.39 | 2.32 | 2.19 | 2.18 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||
| Six Months Ended | Year Ended | ||||||||||||||||||||||||||||||||||
| (dollars in millions, jobs in thousands, 1-year percentage change) | June 30, 2025 1 | December 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||
| Hawaii Economic Trends | |||||||||||||||||||||||||||||||||||
State General Fund Revenues 2 | $ | 4,895.8 | (3.0) | % | $ | 10,124.9 | 6.5 | % | $ | 9,504.1 | 0.7 | % | |||||||||||||||||||||||
General Excise and Use Tax Revenue 2 | 2,417.3 | 5.9 | 4,495.0 | 0.5 | 4,474.1 | 4.9 | |||||||||||||||||||||||||||||
Jobs 3 | 669.0 | 661.6 | 657.7 | ||||||||||||||||||||||||||||||||
| August 31, | December 31, | ||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
Unemployment, seasonally adjusted 3 | |||||||||||||||||||||||||||||||||||
| Statewide | 2.7 | % | 3.0 | % | 3.0 | % | |||||||||||||||||||||||||||||
| Honolulu County | 2.5 | 2.9 | 2.5 | ||||||||||||||||||||||||||||||||
| Hawaii County | 3.0 | 3.4 | 2.9 | ||||||||||||||||||||||||||||||||
| Maui County | 3.0 | 3.7 | 5.8 | ||||||||||||||||||||||||||||||||
| Kauai County | 2.6 | 3.0 | 2.5 | ||||||||||||||||||||||||||||||||
| September 30, | December 31, | ||||||||||||||||||||||||||||||||||
| (1-year percentage change, except months of inventory) | 2025 | 2024 | 2023 | 2022 | |||||||||||||||||||||||||||||||
Housing Trends (Single Family Oahu) 4 | |||||||||||||||||||||||||||||||||||
| Median Home Price | 4.1 | % | 4.8 | % | (5.0) | % | 11.6 | % | |||||||||||||||||||||||||||
| Home Sales Volume (units) | 0.8 | % | 9.1 | % | (26.3) | % | (23.2) | % | |||||||||||||||||||||||||||
| Months of Inventory | 3.4 | 2.9 | 2.8 | 2.1 | |||||||||||||||||||||||||||||||
| (in thousands, except percentage change) | Monthly Visitor Arrivals, Not Seasonally Adjusted | Percentage Change from Previous Year | ||||||||||||
Tourism 5 | ||||||||||||||
| 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 | 762.7 | 5.7 | ||||||||||||
| October 31, 2024 | 739.0 | 5.5 | ||||||||||||
| September 30, 2024 | 688.8 | 6.3 | ||||||||||||
| 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) | ||||||||||||
| November 30, 2023 | 721.3 | 0.3 | ||||||||||||
| October 31, 2023 | 700.4 | (3.7) | ||||||||||||
| September 30, 2023 | 648.1 | (6.4) | ||||||||||||
| August 31, 2023 | 766.6 | (7.6) | ||||||||||||
1Based on the latest 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
Bank of Hawai‘i Corporation third quarter 2025 financial report October 27, 2025
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 third quarter 2025 highlights broad & deep market penetration stable balance sheet performance earnings highlights strong credit credit remains pristine • average deposits increased by 7.1% annualized and average noninterest-bea ing demand d posit incre sed by 2.5% annualized • end of period total loans and leases increased modestly • tier 1 capital ratio of 14.34% and total capital ratio of 15.40% • total common equity to tangible assets increased to 5.90% from 5.42% in the same period last year • $1.20 diluted earnings per common share • $53.3 million net income • net interest margin expanded for the sixth consecutive quarter to 2.46% from 2.39% • return on average common equity increased to 13.59% from 12.50% • 1.59% average cost of total deposits • 0.07% net charge-off rate remained stable from prior quarter • 0.12% non-performing assets level improved from prior quarter • 80% of loan portfolio real estate-secured with wtd avg LTV of 51% • NDFI exposure of 0.6% of total loans 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
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 YTD 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. 2025 YTD include data collected in 1Q25, 2Q25, and 3Q25. 5
leader in a unique deposit market source: 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 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 6
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% 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% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 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% 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% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 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; 6.3% 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 5.3%, equivalent to average yield at the time of purchase of the securities purchased in 3Q25. $594 million 3Q25 loan & investment cashflow 6.3% roll on rate accretive & predictable NII expansion 4.1% roll off rate 9
ongoing NIM expansion 2.11% 0.04% 0.03% 0.01% 0.13% 0.07% 0.07% 2.46% avg Fed Funds 3.50% 3.85% 4.20% 4.55% 4.90% 5.25% 5.60% 1.90% 2.00% 2.10% 2.20% 2.30% 2.40% 2.50% 1Q24 NIM 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 3Q25 NIM 10
conservative loan portfolio focused on core market CRE C&I residential mortgage home equity auto residential mortgage 33% home equity 15% CRE 29% construction 3% C&I and leasing 12% auto & other consumer 7% non-core 1% 10-yr avg NPA 10-yr avg NCO % Hawaiʻi/ West Pac asset type core 0.15%-0.01%100%residential mortgage 0.24%-0.07%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
$5.0 $4.8 $4.5 $4.6 $5.1 $5.3 $5.9 $7.0 $8.0 $9.0 $9.8 $10.5 $11.5 $12.0 $13.0 $13.8 $14.0 $13.9 $1.5 $1.3 $0.9 $0.8 $0.7 $0.6 $0.6 $0.6 $0.5 $0.5 $0.4 $0.3 $0.2 $0.2 $0.1 $0.1 $0.1 $0.1 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25 b ill io n s loan portfolio balance core non-core non-corecore consumer residential mortgage – land, interest only home equity – purchased auto – Oregon, origination FICO < 680 personal flexline credit card residential mortgage home equity auto other consumer commercial scored small business non-relationship SNC large ticket leasing C&I commercial real estate construction leasing dynamically managing credit risk de-risking the balance sheet 12
wealth opportunity
indexed balance changes since 2005 note: based on end of period balances total loans CAGR: 4.2% total deposits CAGR: 5.1% -50% 0% 50% 100% 150% 200% 1 2/ 3 1/ 0 5 1 2/ 3 1/ 0 6 1 2/ 3 1/ 0 7 1 2/ 3 1/ 0 8 1 2/ 3 1/ 0 9 1 2/ 3 1/ 1 0 1 2/ 3 1/ 1 1 1 2/ 3 1/ 1 2 1 2/ 3 1/ 1 3 1 2/ 3 1/ 1 4 1 2/ 3 1/ 1 5 1 2/ 3 1/ 1 6 1 2/ 3 1/ 1 7 1 2/ 3 1/ 1 8 1 2/ 3 1/ 1 9 1 2/ 3 1/ 2 0 1 2/ 3 1/ 2 1 1 2/ 3 1/ 2 2 1 2/ 3 1/ 2 3 1 2/ 3 1/ 2 4 9 /3 0 /2 5 total trust AUM CAGR: 0.1% 14
wealth opportunity Hawaiʻi has the highest average net worth per household in the U.S of $260K, compared to the national average of $71K1 source: 1US Census Bureau Wealth and Asset Ownership for Households 2023 (excluding data from Alaska, Delaware, North Dakota, South Dakota, Vermont, and Wyoming); 2Henley Private Wealth Migration Report 2025; 3JPMorgan Chase. The Critical Role of Business Succession Planning in Preserving and Expanding Generational Wealth millionaire households in Hawaiʻi are expected to grow 30% over the next four years, driven by local wealth creation and inbound migration2 Hawaiʻi has the highest potential AUM per active advisor in the U.S of $917MM, compared to the national average of $76MM1 $10 trillion in privately held U.S businesses will change hands over the next 10 to 15 years, marking the largest intergenerational wealth transfer in history3 15
leveraging strengths for growth note: wealth management market share data as of 2023, unaided brand awareness, deposit and loan market share data as of 2024 BOH 82% oth er capitalize on unmatched brand strength, a dominant deposit market position, and strong commercial relationships to grow wealth management share in Hawaiʻi’s $321 billion market total HI deposit market: $56.3 billion BOH 34% deposit market share unaided brand awareness in Hawaiʻi BOH 3% wealth management market share BOH 40% total HI commercial loan market: $13.5 billion commercial loans market share 16
transformation underway to shift from siloed product-oriented businesses to an integrated wealth management client experience providing holistic solutions to individuals and commercial clients strategic wealth priorities 17
mass affluent Bankoh Advisors before Cetera • time for account opening: ~2 hours • requests for trades and money movement: ~5-7 minutes via phone • limited product offerings after Cetera • time for account opening: ~15 minutes • requests for trades and money movement: ~1 minute online • expanded product offerings which include SMAs, broader insurance, variable annuities, 401K offerings • number of advisors expected to increase by more than 50% by 2028 18
high net worth commercial and wealth partnership prior state • siloed teams • fragmented compensation structures hindering cross-sell collaboration • lack of coordinated goals current state • integrated teams • shared goals • aligned incentives • coordinated client engagement 19
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 September 30, 2025 21
residential mortgage $4.7 home equity $2.1 automobile $0.7 other consumer $0.4 consumer portfolio wtd avg FICOWALTV % total loans % total consumerasset type 80449%33%59%residential mortgage 78946%15%27%home equity 79948%49%86%real estate secured 731n/a5%9%automobile 761n/a3%5%other consumer 791n/a57%100%total consumer $7.9B 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 22
C&I $1.6 CRE $4.0 construction $0.4 leasing $0.1 commercial portfolio residential mortgage home equity $6.1B commercial WALTV % total loans % total commlasset type 54%29%66%commercial real estate 58%3%6%construction 55%32%73%real estate secured n/a11%26%commercial & industrial n/a1%2%leasing n/a43%100%total commercial note: $ in billions; numbers may not add up due to rounding 43% of total loans 23
inventory (sq ft)vacancy 10 yr CAGR10 yr avg2Q242Q25 0.63%1.63%1.05%1.47%industrial -1.01%12.42%13.57%13.20%office 0.72%6.08%6.09%5.33%retail 0.68%4.73%3.98%3.48%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) 24
multi-family 7% industrial 5% retail 5% lodging 5% office 2% other 4% commercial real estate (CRE) residential mortgage home equity 29% of total loans avg. exposure ($MMs)WALTVasset type 3.356%multi-family 2.555%industrial 4.353%retail 14.351%lodging 1.759%office 4.252%other 3.554%total CRE note: % in chart above is % of total loans 25
CRE scheduled maturities 3.9% 18.0% 8.5% 9.5% 4.3% 13.5% 42.2% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2025 2026 2027 2028 2029 2030 2031+ $ m ill io ns modest near-term maturities 26
CRE loan balances by LTV LTV > 80% - $71MM, 1.8% of CRE 63.8% 25.1% 9.3% 1.2% 0.03% 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 27
commercial & industrial residential mortgage home equity 11% of total loans AOAO 3.3% real estate investors 1.5% auto dealers 1.0% renewable energy 0.8% lodging 0.7% educational svcs 0.6% transportation 0.5% wholesale trade 0.5% other 2.3% avg. exposure ($MMs)% leveragedindustry 1.80%AOAO 1.10%RE investors 4.917%auto dealers 2.90%renewable energy 5.423%lodging 2.00%educational svcs 1.40%transportation 0.425%wholesale trade 0.39%other 0.66%total C&I note: % in chart above is % of total loans 28
non-depository financial institutions (NDFI) CRE C&I residential mortgage auto CRE 29% construction 3% leasing 1% C&I 11% C&I - NDFI 0.6% auto & other consumer 7.9% home equity 15% residential mortgage 33% loans to NDFIs total $85 million and make up 0.6% of total loans % total loans outstanding $ milNDFI type 0.5%73.6equity REITs* 0.1%11.4private equity 0.6%85.0total * comprised of loans to publicly traded REITs with diversified real estate portfolios 29
credit quality 0.11% 0.07% 0.07% $0 $0 $0 $0 $0 $0 $0 $0 $0 3Q24 2Q25 3Q25 net charge-offs NCOs/average loans 0.14% 0.13% 0.12% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 3Q24 2Q25 3Q25 non-performing assets NPAs/period-end loans plus OREO 1 83% of total criticized is secured with 55% wtd avg LTV 0.31% 0.33% 0.29% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 3Q24 2Q25 3Q25 delinquencies delinquencies/period-end loans 2.42% 2.06% 2.05% 3Q24 2Q25 3Q25 criticized criticized/period-end loans 1 30
financial update
NII and NIM trends sixth consecutive quarter of NII and NIM expansion $ in millions $125 $133 $142 $141 $136 $124 $121 $116 $114 $115 $118 $120 $126 $130 $137 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% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 NII NIM 32
cashflow repricing total quarterly impact to NII from cashflows repricing: +$3.3 million note: +$3.3 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 5.3%, equivalent to average yield at the time of purchase of the securities purchased in 3Q25; numbers may not add up due to rounding 4.8% 6.9% 2.1% 4.7% 6.1% 1.4% 2.4% 5.3% 2.9% 4.1% 6.3% 2.2% 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 3Q25 maturities/prepayments reinvestment opportunities fixed loans adjustable loans inv. portfolio total $322 $92 $181 $594 $- $100 $200 $300 $400 $500 $600 $700 3Q25 maturities/prepayments fixed loans adjustable loans inv. portfolio total 33 $ in millions
deposit mix shift and repricing quarterly NII impact from deposit mix shift and repricing in 3Q25: $(0.8) million $(749) $(967) $(800) $(627) $(488) $(448) $(315) $(105) $(37) $(59) $(104) $(1,000) $(800) $(600) $(400) $(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 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 34 $ in millions
35 NII impact from 25 bps Fed Funds cut net NII impact per quarter for 25 bps FF decrease from rate sensitive earning assets: $(4.3) million short-term net NII impact per quarter for 25 bps FF decrease from rate sensitive deposits: +$4.0 million long-term net NII impact per quarter for 25 bps FF decrease from rate sensitive deposits: +$5.9 million short-term net NII impact: $(0.3) million & long-term net NII impact: +$1.6 million note: loans, investments and swap balances are as of September 30; FF sold balance is 3Q25 end of period balance; rate sensitive deposit balances are 3Q25 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 rate sensitive earning assets rate sensitive interest-bearing deposits $3.3 $1.5 $1.4 $0.6 $- $1.0 $2.0 $3.0 $4.0 $ in b ill io ns loans investments swaps FF sold balances $6.2 $1.3 $3.1 $- $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 $10.6B balances $(2.1) $(1.0) $(0.9) $(0.4) $(3.0) $(2.0) $(1.0) $- $ in m ill io ns loans investments swaps FF sold NII impact $6.9B NII impact $3.3 $3.3 $0.7 $0.7 $1.9 $4.0 $5.9 $- $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
trend in cost of deposits 36 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% 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% 0.29% 0.94% 2.35% 3.82% 4.69% 5.16% 5.43% 5.50% 5.50% 5.50% 5.43% 4.82% 4.50% 4.50% 4.46% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 total deposit cost interest-bearing deposit cost avg FF 16% 28% 29% 28% 76% 81% 84% 87% 25% 53% 70% 80% 4Q24 1Q25 2Q25 3Q25 downward beta total deposits savings (excl. low yield accounts) time note: low-yield accounts are accounts yielding interest of 10 bps or less
37 time deposits $1.6B 52% $0.7B 24% WAR 3.50% WAR 3.19% 0% 10% 20% 30% 40% 50% 60% 4Q25 1Q26 % o f to ta l t im e de po si ts s ch ed ul ed t o m a tu re time deposit rates continue to decrease note: maturity schedule as of September 30, 2025 4.18% 4.20% 4.17% 4.02% 3.67% 3.52% 3.40% 5.50% 5.50% 5.43% 4.82% 4.50% 4.50% 4.46% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 time deposits rates avg FF time deposit maturity scheduletime deposit rates
38 optimizing balance sheet $1.0 $1.7 $1.7 $1.7 $1.5 $1.3 $1.3 $1.5 $1.1 $1.0 $1.3 $1.3 $1.3 $1.3 $0.7 $0.7 $0.7 $0.3 $- $0.2 $2.0 $3.0 $3.0 $3.0 $2.8 $2.0 $2.0 $2.2 $1.4 $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% 26% 27% 27% 28% 29% 29% 29% 30% 32% 33% 33% 34% 1% 9% 13% 13% 14% 12% 9% 9% 10% 6% 0.4% 1% 5% 2% 3% 3% 3% 4% 2% 3% 2% 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 earning asset composition fixed float/adjustable swaps fed funds sold 100% 56% 44% 67% 100% 100% 44% 56% 33% $(166) $236 $233 $241 $276 $223 $(200) $(100) $- $100 $200 $300 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 $ in m ill io ns securities purchases / sales fixed floating note: swaps in ‘earning asset composition’ and ‘swap composition’ does not include $600 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 $45.1 $44.8 $46.0 $0 $10 $20 $30 $40 $50 3Q24 2Q25 3Q25 reported noninterest income $107.1 $110.8 $112.4 $0 $20 $40 $60 $80 $100 $120 3Q24 2Q25 3Q25 reported noninterest expense 39
sale of merchant services $1.7 $(3.0) $2.2 $0.9 -$4.0 -$3.0 -$2.0 -$1.0 $0.0 $1.0 $2.0 $3.0 net interest income noninterest income noninterest expense savings net impact to PPNR an accretive transaction delivering $0.9 million in quarterly net benefit, with additional cross-sell potential $ in millions 40note: on October 1, 2025, the Company sold the economic interests of its merchant services portfolio; impact to net interest income reflects portfolio repositioning through sale of ~$200MM in low-yielding securities, replaced with newly acquired securities at spread of ~335 basis points
financial summary $ in millions, except per share amounts ∆ 3Q 2024∆ 2Q 20253Q 20242Q 20253Q 2025 $ 19.1 $ 7.0 $ 117.6 $ 129.7 $ 136.7 net interest income 0.9 1.2 45.1 44.8 46.0 noninterest income 19.9 8.2 162.7 174.5 182.6 total revenue 5.3 1.6 107.1 110.8 112.4 noninterest expense 14.6 6.6 55.6 63.7 70.3 operating income (0.5)(0.8)3.0 3.3 2.5 credit provision 2.1 1.6 12.3 12.8 14.4 income taxes $ 13.0 $ 5.7 $ 40.4 $ 47.6 $ 53.3 net income $ 11.2 $ 5.7 $ 36.9 $ 42.4 $ 48.1 net income available to common $ 0.27 $ 0.14 $ 0.93 $ 1.06 $ 1.20 diluted EPS % 0.19 % 0.07 % 0.69 % 0.81 % 0.88 return on assets 2.09 1.09 11.50 12.50 13.59 return on common equity 0.28 0.07 2.18 2.39 2.46 net interest margin end of period balances % 5.0% 0.9$ 7,261 $ 7,553 $ 7,620 investment portfolio 0.70.113,919 14,002 14,022 loans and leases 0.51.420,978 20,799 21,081 total deposits 7.52.81,665 1,743 1,791 shareholders' equity note: 3Q25 financials are preliminary; numbers may not add up due to rounding 41
capital note: 3Q25 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% 5.16% 5.31% 5.48% 6.05% 6.17% 6.34% 5.11% 5.23% 5.40% 3.38% 3.46% 3.44% 11.66% 11.81% 11.98% 14.05% 14.17% 14.34% 15.11% 15.23% 15.40% 8.38% 8.46% 8.44% 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 CET1 tier 1 capital total capital tier 1 leverage well-capitalized excess 13.6% BOHC strong capital 59.9% 59.2% 76.7% BOHC 2Q25 BOHC 3Q25 KRX median 2Q25 1 RWA / total assets 42
✔ NII and NIM increased for the sixth consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital takeaways 43
Q & A
appendix
note: as of September 30, 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 $10.4B $7.8B readily available liquidity 46
insured/collateralized deposits uninsured/ uncollateralized 37% uninsured/ collateralized 10% insured 53% note: as of September 30, 2025; numbers may not add up due to rounding 47
Oahu market inventory 48 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 • 59% wtd avg LTV • $1.7MM average exposure • 17% CBD (downtown Honolulu) - 63% wtd avg LTV - 68% with repayment guaranties • 32% maturing prior to 2027 • 1.4% criticized highlights LTV ≤ 60% 42% LTV > 60% to 70% 40% LTV > 70% to 80% 6% LTV > 80% 12% LTV distribution $343MM 49 1.9% 29.7% 4.9% 11.8% 2.3% 12.2% 37.3% - 50 100 150 200 250 300 2025 2026 2027 2028 2029 2030 2031+ $ m ill io ns scheduled maturity
CRE multi-family 7% of total loans • 56% wtd avg LTV • $3.3MM average exposure • 100.0% LIHTC, affordable or market • 18% maturing prior to 2027 • 4.4% criticized highlights LTV ≤ 60% 57% LTV > 60% to 70% 26% LTV > 70% to 80% 14% LTV > 80% 3% LTV distribution 0.4% 17.9% 2.6% 4.6% 2.8% 7.8% 63.8% - 100 200 300 400 500 600 700 2025 2026 2027 2028 2029 2030 2031+ $ m ill io ns scheduled maturity $1.0B 50
condominiumssingle family homes Δ YTD-24YTD-24YTD-25Δ YTD-24YTD-24YTD-25 -1.0% $510$505 4.1% $1,100$1,145 median sales price (000s) -3.0% 3,3903,289 0.8% 2,1012,118closed sales 15 days 2944 5 days 1823 median days on market stable real estate prices Oahu market indicators – YTD 2025 as of September 2025 source: Honolulu Board of Realtors, compiled from MLS data 51
2.2% 20.2% 3.0% 2.8% 3.0% 3.2% 4.2% 4.3% 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 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 52
53 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) 54source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) $0 $30 $60 $90 $120 $150 $180 $210 $240 $270 $300 $330 $360