Equibles

8-K

BANK OF HAWAII CORP (BOH)

8-K 2025-10-27 For: 2025-10-27
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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 October 27, 2025
(Date of earliest event reported)

BANK OF HAWAII CORPORATION

(Exact name of registrant as specified in its charter)

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

(888) 643-3888

(Registrant's telephone number, including area code)

Not Applicable

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

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

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

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

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

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

Emerging growth company ☐

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

Item 2.02.Results of Operations and Financial Condition.

On 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 Bank of Hawaii Corporation Third Quarter 2025 Financial Report
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

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

Date: October 27, 2025 Bank of Hawaii Corporation
By: /s/ Patrick M. McGuirk
Patrick M. McGuirk
Vice Chair and Chief Administrative Officer

Document

Exhibit 99.1

bohnewsreleaseimagea.jpg

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.

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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
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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
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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
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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
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Consolidated Statements of Shareholders' Equity Table 6
(dollars in thousands, except per share amounts) Preferred Shares Series A Outstanding Preferred Series A Stock Preferred Shares Series B Outstanding Preferred Series B Stock Common Shares Outstanding Common Stock Capital Surplus Accum. Other Comprehensive Income (Loss) Retained Earnings Treasury Stock Total
Balance as of December 31, 2024 180,000 $ 180,000 165,000 $ 165,000 39,762,255 $ 585 $ 647,403 $ (343,389) $ 2,133,838 $ (1,115,663) $ 1,667,774
Net Income – – – – – – – – 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
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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
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Loan and Lease Portfolio Balances Table 10
(dollars in thousands) September 30,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024 September 30,<br>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,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024 September 30,<br>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,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024 September 30,<br>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,<br>2025 June 30,<br>2025 March 31,<br>2025 December 31,<br>2024 September 30,<br>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,<br>Not Seasonally Adjusted Percentage Change<br>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

ex992earningsslides09302

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

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