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	July 26, 2021
(Date of earliest event reported)

BANK OF HAWAII CORP

(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
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(Address of principal executive offices)	(City)	(State)	(Zip Code)

(888) 643-3888

(Registrant's telephone number, including area code)

N/A

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

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

Title of each class		Name of each exchange on which registered
Common Stock, par value 0.01 per share	BOH		New York Stock Exchange

All values are in US Dollars.

Depository Shares, Each Representing 1/40^th^ Interest in a Share of 4.375% Fixed Rate Non-Cumulative Preferred Stock, Series A	BOH.PRA	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 (see General Instruction A.2. below):

☐	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 July 26, 2021, Bank of Hawaii Corporation announced its results of operations for the quarter ended June 30, 2021. 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
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Exhibit No.
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99.1	July 26, 2021 Press Release: Bank of Hawaii Corporation Second Quarter 2021 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 Second Quarter 2021 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: July 26, 2021	Bank of Hawaii Corporation
	By:	/s/ Patrick M. McGuirk
		Patrick M. McGuirk
		Senior Executive Vice President and Corporate Secretary

boh-ex991_6.htm

Exhibit 99.1

Bank of Hawaii Corporation Second Quarter 2021 Financial Results

•	Diluted Earnings Per Common Share $1.68
•	Net Income $67.5 Million
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•	Board of Directors Declares Dividend of $0.70 Per Share
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FOR IMMEDIATE RELEASE

HONOLULU, HI (July 26, 2021) -- Bank of Hawaii Corporation (NYSE: BOH) today reported diluted earnings per common share of $1.68 for the second quarter of 2021, compared with diluted earnings per common share of $1.50 in the previous quarter and $0.98 in the same quarter last year. Net income for the second quarter of 2021 was $67.5 million compared with net income of $59.9 million in the first quarter of 2021 and $38.9 million in the second quarter of 2020.

“Bank of Hawaii Corporation continued to perform well during the second quarter of 2021," said Peter Ho, Chairman, President, and CEO. “Core loans and deposits continue to grow, and asset quality remains solid. We are also pleased with the success of our inaugural preferred stock issuance in June, which enhances the strength of our balance sheet and positions us well for future growth.”

The return on average assets for the second quarter of 2021 was 1.23 percent compared with 1.15 percent during the previous quarter and 0.82 percent in the same quarter last year. The return on average common equity for the second quarter of 2021 was 19.60 percent compared with 17.65 percent during the previous quarter and 11.58 percent in the same quarter last year.

For the six-month period ended June 30, 2021, net income was $127.5 million, up from net income of $73.7 million during the same period last year. Diluted earnings per common share were $3.18 for the first half of 2021 compared with diluted earnings per common share of $1.85 for the first half of 2020.

The return on average assets for the six-month period ended June 30, 2021 was 1.19 percent compared with the return on average assets of 0.79 percent for the same six-month period in 2020. The return on average common equity was 18.63 percent for the first half of 2021 compared with the return on average common equity of 11.11 percent for the first half of 2020.

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Bank of Hawaii Corporation Second Quarter 2021 Financial Results	Page 2

Financial Highlights

Net interest income, on a taxable-equivalent basis, for the second quarter of 2021 was $123.8 million, an increase of $3.0 million from $120.8 million in the first quarter of 2021 and down $3.2 million from $127.0 million in the second quarter of 2020. The net interest margin was 2.37 percent in the second quarter of 2021, a decrease of 6 basis points from 2.43 percent in the previous quarter and 46 basis points from 2.83 percent in the same quarter last year. The decrease in the net interest margin is largely due to higher levels of liquidity from continued strong deposit growth and lower interest rates, partially offset by higher fees from Paycheck Protection Program (“PPP”) loans. Net interest income in the second quarter of 2020 included an interest recovery of $2.9 million.

Net interest income, on a taxable equivalent basis, for the first half of 2021 was $244.7 million, down $8.7 million compared with net interest income of $253.4 million for the first half of 2020. The net interest margin for the first six months of 2021 was 2.40 percent, compared with the net interest margin of 2.90 percent for the same six-month period last year. Analyses of changes in net interest income are included in Tables 8a, 8b, and 8c.

Results for the second quarter of 2021 included a negative provision for credit losses of $16.1 million compared with a negative provision for credit losses of $14.3 million in the previous quarter and provision for credit losses of $40.4 million in the same quarter last year. The provision for credit losses during the first half of 2021 was negative $30.4 million compared with a provision for credit losses of $74.0 million during the same period in 2020.

Noninterest income was $44.4 million in the second quarter of 2021, an increase of $1.4 million compared with noninterest income of $43.0 million in the first quarter of 2021 and a decrease of $6.9 million compared with $51.3 million in the second quarter of 2020. Noninterest income in the second quarter of 2021 included a gain of $3.7 million related to the sale of investment securities, partially offset by lower mortgage banking income. Noninterest income during the second quarter of 2020 included a gain of $14.2 million related to a sale of Visa Class B shares. Noninterest income for the first half of 2021 was $87.4 million compared with noninterest income of $97.4 million for the first half of 2020.

Noninterest expense was $96.5 million in the second quarter of 2021, a decrease of $2.4 million compared with noninterest expense of $98.9 million in the first quarter of 2021 and an increase of $7.6 million compared with $88.9 million in the second quarter of 2020. Noninterest expense during the second quarter of 2021 included fees related to the early termination of FHLB advances and repurchase agreements of $3.2 million offset by a gain on the sale of property of $3.1 million. Noninterest expense in the second quarter of 2021 also included the restoration of incentive compensation that was reduced in the second quarter of 2020. Noninterest expense in the first quarter of 2021 included seasonal payroll expenses of approximately $2.1 million, costs related to the rollout of contactless cards of $1.9 million, and separation expenses of $1.8 million. Noninterest expense for the first half of 2021 was $195.4 million compared with noninterest expense of $185.2 million for the first half of 2020. An analysis of noninterest expenses related to salaries and benefits is included in Table 9.

The efficiency ratio during the second quarter of 2021 was 57.47 percent compared with 60.45 percent in the previous quarter and 49.95 percent during the same quarter last year. The efficiency ratio for the first half of 2021 was 58.94 percent compared with 52.90 percent in the same period last year.

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Bank of Hawaii Corporation Second Quarter 2021 Financial Results	Page 3

The effective tax rate for the second quarter of 2021 was 22.84 percent compared with 24.09 percent in the previous quarter and 20.05 percent during the same quarter in 2020. The effective tax rate for the first half of 2021 was 23.43 percent compared with an effective tax rate of 18.95 percent during the same period last year. The increase in the effective tax rate for the first half of 2021 was primarily due to higher pretax book income in the first half of 2021.

The Company’s business segments are defined as Consumer Banking, Commercial Banking, and Treasury & Other. Results for the business segments are determined based on the Company’s internal financial management reporting process and organizational structure. Selected financial information is included in Tables 13a and 13b.

Asset Quality

The Company’s overall asset quality continued to remain stable during the second quarter of 2021. Total non-performing assets were $19.0 million at June 30, 2021, up from $17.9 million at March 31, 2021 and down from $22.7 million at June 30, 2020. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.16 percent at the end of the second quarter of 2021, compared with 0.15 percent at the end of the first quarter of 2021 and 0.19 percent at the end of the second quarter of 2020.

Accruing loans and leases past due 90 days or more were $9.3 million at June 30, 2021 compared with $10.4 million at March 31, 2021 and $8.9 million at June 30, 2020. Restructured loans on accrual status and not past due 90 days or more were $74.9 million at June 30, 2021 compared with $74.2 million at March 31, 2021 and $59.7 million at June 30, 2020. More information on non-performing assets and accruing loans and leases past due 90 days or more is presented in Table 11.

Net loan and lease charge-offs during the second quarter of 2021 were $1.2 million or 0.04 percent annualized of total average loans and leases outstanding and were comprised of charge-offs of $4.3 million partially offset by recoveries of $3.1 million. Net loan and lease charge-offs during the first quarter of 2021 were $2.9 million or 0.10 percent annualized of total average loans and leases outstanding and were comprised of charge-offs of $6.3 million partially offset by recoveries of $3.4 million. Net loan and lease charge-offs during the second quarter of 2020 were $5.1 million or 0.18 percent annualized of total average loans and leases outstanding and were comprised of $8.3 million of charge-offs partially offset by recoveries of $3.2 million. Net loan and lease charge-offs during the first half of 2021 were $4.1 million or 0.07 percent annualized of total average loans and leases outstanding compared with net charge-offs of $8.9 million or 0.16 percent annualized of total average loans and leases outstanding for the first half of 2020.

The allowance for credit losses on loans and leases was $180.4 million at June 30, 2021, a decrease from $198.3 million at March 31, 2021 and an increase from $173.4 million at June 30, 2020. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.50 percent at June 30, 2021, down from 1.63 percent at March 31, 2021 and up from 1.47 percent at June 30, 2020. The reserve for unfunded commitments was $4.5 million at June 30, 2021, an increase from $3.0 million at the end of the prior quarter and an increase from $2.5 million at the end of the same quarter in 2020. Details of loan and lease charge-offs, recoveries, and the components of the total reserve for credit losses are summarized in Table 12.

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Bank of Hawaii Corporation Second Quarter 2021 Financial Results	Page 4

Other Financial Highlights

Total assets increased to a new record of $22.7 billion at June 30, 2021, an increase compared with total assets of $21.9 billion at March 31, 2021 and $19.8 billion at June 30, 2020. Average total assets were $22.1 billion during the second quarter of 2021, an increase from $21.2 billion during the first quarter of 2021 and $19.2 billion in the second quarter of 2020.

The investment securities portfolio was $8.5 billion at June 30, 2021, up from $7.5 billion at March 31, 2021 and from $6.0 billion at June 30, 2020 due to growth in deposits that continued to outpace loan growth. The portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises and includes $4.5 billion in securities available-for-sale and $3.9 billion in securities held-to-maturity at June 30, 2021. The securities portfolio at March 31, 2021 included $4.0 billion in securities available-for-sale and $3.5 billion in securities held-to-maturity. The securities portfolio at June 30, 2020 included $2.7 billion in securities available-for-sale and $3.3 billion in securities held-to-maturity.

Total loans and leases were $12.0 billion at June 30, 2021, a decrease of 0.8 percent from total loans and leases of $12.1 billion at March 31, 2021 and an increase of 2.0 percent from $11.8 billion at June 30, 2020. Average total loans and leases were $12.1 billion during the second quarter of 2021, an increase from average total loans and leases of $12.0 billion during the first quarter of 2021 and $11.7 billion during the second quarter of 2020.

The commercial loan portfolio was $5.1 billion at June 30, 2021, a decrease of $156.2 million or 3.0 percent from $5.3 billion at March 31, 2021 and up $80.4 million or 1.6 percent from $5.0 billion at June 30, 2020. Commercial loans excluding PPP loans were $4.6 billion at June 30, 2021, an increase of $55.7 million or 1.2 percent from $4.5 billion at March 31, 2021 and an increase of $95.3 million or 2.1 percent from $4.5 billion at June 30, 2020. PPP loans were $513.5 million at June 30, 2021, a decrease of $212.0 million or 29.2 percent from $725.5 million at March 31, 2021 and a decrease of $14.9 million or 2.8 percent from $528.5 million at June 30, 2020. Consumer loans were $6.9 billion at June 30, 2021, an increase of $56.9 million or 0.8 percent from $6.9 billion at March 31, 2021 and up $155.6 million or 2.3 percent from $6.8 billion at June 30, 2020. Loan and lease portfolio balances are summarized in Table 10.

Total deposits were $20.2 billion at June 30, 2021, an increase of 3.1 percent from total deposits of $19.6 billion at March 31, 2021 and up 15.8 percent from total deposits of $17.4 billion at June 30, 2020. Average total deposits were $19.7 billion during the second quarter of 2021, an increase from $18.7 billion during the first quarter of 2021 and from $16.7 billion during second quarter of 2020.

Consumer deposits were $9.8 billion at June 30, 2021, an increase of $101.6 million or 1.0 percent from $9.7 billion at March 31, 2021 and an increase of $1.0 billion or 12.3 percent from $8.8 billion at June 30, 2020. Commercial deposits were $8.7 billion at June 30, 2021, an increase of $434.8 million or 5.3 percent from $8.2 billion at March 31, 2021 and an increase of $1.4 billion or 18.9 percent from $7.3 billion at June 30, 2020. Other deposits, including public funds, were $1.6 billion at June 30, 2021, an increase of $76.7 million or 4.9 percent from $1.6 billion at March 31, 2021 and an increase of $284.3 million or 20.9 percent from $1.4 billion at June 30, 2020. Deposit balances are summarized in Table 10.

In the second quarter of 2021, the Company issued $180 million of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, at a rate of 4.375%. The Company received net proceeds from the offering of $175.5 million after issuance costs. There were no repurchases under the share repurchase program in the second quarter of 2021. Total remaining buyback authority under the share repurchase program was $113.1 million at July 23, 2021.

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Bank of Hawaii Corporation Second Quarter 2021 Financial Results	Page 5

Total shareholders’ equity was $1.6 billion at June 30, 2021, compared with $1.4 billion at March 31, 2021 and $1.4 billion at June 30, 2020. The Tier 1 Capital Ratio was 13.87 percent at June 30, 2021 compared with 12.35 percent at March 31, 2021 and 12.04 percent at June 30, 2020. The Tier 1 Leverage Ratio at June 30, 2021 was 7.31 percent compared with 6.61 percent at March 31, 2021 and 6.90 percent at June 30, 2020.

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 September 15, 2021 to shareholders of record at the close of business on August 31, 2021. The Board of Directors previously declared the first quarterly dividend payment of $5.59 per share, equivalent to $0.13975 per depositary share, on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A for the period covering June 15, 2021 through July 31, 2021. The depositary shares representing the Series A Preferred Stock are traded on the NYSE under the symbol “BOH.PRA.” The dividend will be payable on August 2, 2021 to shareholders of record of the preferred stock as of July 16, 2021.

Conference Call Information

The Company will review its second quarter financial results today at 8:00 a.m. Hawaii 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 Hawaii Corporation's website, www.boh.com. The webcast link is https://edge.media-server.com/mmc/p/nujqrorp. The toll-free number for the teleconference is 1 (844) 543-5235 in the United States and Canada and 1 (703) 318-2209 for other international callers. Use the pass code “Bank of Hawaii” to access the call. A replay of the conference call will be available for one week beginning approximately 11:00 a.m. Hawaii Time on Monday, July 26, 2021. The replay number is 1 (855) 859-2056 in the United States and Canada and 1 (404) 537-3406 from other international locations. Enter the conference ID 3698556 when prompted. In addition, the replay will be available on the Company's website, www.boh.com.

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 Hawaii Corporation's Annual Report on Form 10-K for the year ended December 31, 2020 and its Form 10-Q for the fiscal quarter ended March 31, 2021, 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 Hawaii Corporation is an independent regional financial services company serving businesses, consumers, and governments in Hawaii and the West Pacific. The Company's principal subsidiary, Bank of Hawaii, was founded in 1897. For more information about Bank of Hawaii Corporation, see the Company’s web site, www.boh.com.

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Bank of Hawaii Corporation and Subsidiaries
Financial Highlights															Table 1
	Three Months Ended											Six Months Ended
	June 30,				March 31,				June 30,			June 30,
(dollars in thousands, except per share amounts)	2021				2021				2020			2021				2020
For the Period:
Operating Results
Net Interest Income	$	123,514			$	120,569			$	126,691		$	244,083			$	252,657
Provision for Credit Losses		(16,100	)			(14,300	)			40,400			(30,400	)			74,000
Total Noninterest Income		44,431				42,970				51,268			87,401				97,417
Total Noninterest Expense		96,527				98,865				88,892			195,392				185,204
Net Income		67,533				59,949				38,908			127,482				73,650
Basic Earnings Per Common Share		1.69				1.51				0.98			3.20				1.86
Diluted Earnings Per Common Share		1.68				1.50				0.98			3.18				1.85
Dividends Declared Per Common Share		0.67				0.67				0.67			1.34				1.34
Performance Ratios
Return on Average Assets		1.23		%		1.15		%		0.82	%		1.19		%		0.79	%
Return on Average Shareholders' Equity		19.17				17.65				11.58			18.43				11.11
Return on Average Common Equity		19.60				17.65				11.58			18.63				11.11
Efficiency Ratio ^1^		57.47				60.45				49.95			58.94				52.90
Net Interest Margin ^2^		2.37				2.43				2.83			2.40				2.90
Dividend Payout Ratio ^3^		39.64				44.37				68.37			41.88				72.04
Average Shareholders' Equity to Average Assets		6.40				6.51				7.04			6.45				7.12
Average Balances
Average Loans and Leases	$	12,096,308			$	11,952,587			$	11,727,649		$	12,024,844			$	11,394,178
Average Assets		22,073,569				21,150,670				19,189,581			21,614,669				18,706,092
Average Deposits		19,698,285				18,665,222				16,679,511			19,184,607				16,248,628
Average Shareholders' Equity		1,412,924				1,377,272				1,351,345			1,395,197				1,332,596
Per Share of Common Stock
Book Value	$	34.80			$	33.67			$	33.76		$	34.80			$	33.76
Tangible Book Value		34.02				32.89				32.97			34.02				32.97
Market Value
Closing		84.22				89.49				61.41			84.22				61.41
High		95.95				99.10				72.74			99.10				95.53
Low		81.23				75.65				51.15			75.65				46.70
					June 30,				March 31,			December 31,				June 30,
					2021				2021			2020				2020
As of Period End:
Balance Sheet Totals
Loans and Leases					$	12,041,378			$	12,140,703		$	11,940,020			$	11,805,370
Total Assets						22,672,183				21,947,271			20,603,651				19,769,942
Total Deposits						20,169,709				19,556,651			18,211,621				17,423,155
Other Debt						10,437				60,459			60,481				60,524
Total Shareholders' Equity						1,583,531				1,360,221			1,374,507				1,352,082
Asset Quality
Non-Performing Assets					$	18,974			$	17,883		$	18,481			$	22,701
Allowance for Credit Losses - Loans and Leases						180,385				198,343			216,252				173,439
Allowance to Loans and Leases Outstanding ^4^						1.50		%		1.63	%		1.81		%		1.47	%
Capital Ratios ^5^
Common Equity Tier 1 Capital Ratio						12.36		%		12.35	%		12.06		%		12.04	%
Tier 1 Capital Ratio						13.87				12.35			12.06				12.04
Total Capital Ratio						15.13				13.61			13.31				13.29
Tier 1 Leverage Ratio						7.31				6.61			6.71				6.90
Total Shareholders' Equity to Total Assets						6.98				6.20			6.67				6.84
Tangible Common Equity to Tangible Assets ^6^						6.08				6.06			6.53				6.69
Tangible Common Equity to Risk-Weighted Assets^6^						11.85				11.78			11.89				12.07
Non-Financial Data
Full-Time Equivalent Employees						2,085				2,058			2,022				2,112
Branches						54				63			65				67
ATMs						312				361			357				367
^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 June 30, 2021 are preliminary.
^6^Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. See Table 2 “Reconciliation of Non-GAAP Financial Measures."
Bank of Hawaii Corporation and Subsidiaries
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Reconciliation of Non-GAAP Financial Measures										Table 2
	June 30,			March 31,			December 31,			June 30,
(dollars in thousands)	2021			2021			2020			2020
Total Shareholders' Equity	$	1,583,531		$	1,360,221		$	1,374,507		$	1,352,082
Less: Preferred Stock		175,487			-			-			-
Goodwill		31,517			31,517			31,517			31,517
Tangible Common Equity	$	1,376,527		$	1,328,704		$	1,342,990		$	1,320,565
Total Assets	$	22,672,183		$	21,947,271		$	20,603,651		$	19,769,942
Less: Goodwill		31,517			31,517			31,517			31,517
Tangible Assets	$	22,640,666		$	21,915,754		$	20,572,134		$	19,738,425
Risk-Weighted Assets, determined in accordance
with prescribed regulatory requirements	$	11,614,522		$	11,275,565		$	11,295,077		$	10,941,894
Total Shareholders' Equity to Total Assets		6.98	%		6.20	%		6.67	%		6.84	%
Tangible Common Equity to Tangible Assets (Non-GAAP)		6.08	%		6.06	%		6.53	%		6.69	%
Tier 1 Capital Ratio		13.87	%		12.35	%		12.06	%		12.04	%
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP)		11.85	%		11.78	%		11.89	%		12.07	%
Note: Risk-Weighted Assets and Regulatory capital ratios as of June 30, 2021 are preliminary.
Bank of Hawaii Corporation and Subsidiaries
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Consolidated Statements of Income												Table 3
	Three Months Ended								Six Months Ended
	June 30,			March 31,			June 30,		June 30,
(dollars in thousands, except per share amounts)	2021			2021			2020		2021			2020
Interest Income
Interest and Fees on Loans and Leases	$	100,894		$	99,299		$	107,628	$	200,193		$	215,838
Income on Investment Securities
Available-for-Sale		16,467			15,837			14,576		32,304			31,287
Held-to-Maturity		13,576			13,300			16,723		26,876			35,975
Deposits		-			7			1		7			10
Funds Sold		260			137			92		397			638
Other		182			185			125		367			343
Total Interest Income		131,379			128,765			139,145		260,144			284,091
Interest Expense
Deposits		4,152			4,329			7,954		8,481			22,214
Securities Sold Under Agreements to Repurchase		3,470			3,533			4,020		7,003			8,045
Funds Purchased		-			1			18		1			90
Short-Term Borrowings		-			-			22		-			61
Other Debt		243			333			440		576			1,024
Total Interest Expense		7,865			8,196			12,454		16,061			31,434
Net Interest Income		123,514			120,569			126,691		244,083			252,657
Provision for Credit Losses		(16,100	)		(14,300	)		40,400		(30,400	)		74,000
Net Interest Income After Provision for Credit Losses		139,614			134,869			86,291		274,483			178,657
Noninterest Income
Trust and Asset Management		11,682			11,278			10,550		22,960			21,465
Mortgage Banking		3,058			5,862			4,278		8,920			6,973
Service Charges on Deposit Accounts		6,065			6,128			5,097		12,193			12,548
Fees, Exchange, and Other Service Charges		13,807			13,607			9,417		27,414			22,617
Investment Securities Gains (Losses), Net		2,423			(1,203	)		13,216		1,220			12,246
Annuity and Insurance		911			702			883		1,613			1,811
Bank-Owned Life Insurance		2,063			1,917			1,649		3,980			3,229
Other		4,422			4,679			6,178		9,101			16,528
Total Noninterest Income		44,431			42,970			51,268		87,401			97,417
Noninterest Expense
Salaries and Benefits		56,161			56,251			50,715		112,412			105,178
Net Occupancy		5,047			9,090			8,761		14,137			17,716
Net Equipment		8,796			8,878			8,195		17,674			16,651
Data Processing		4,557			6,322			4,416		10,879			9,204
Professional Fees		3,114			3,406			3,061		6,520			6,269
FDIC Insurance		1,669			1,654			1,558		3,323			3,014
Other		17,183			13,264			12,186		30,447			27,172
Total Noninterest Expense		96,527			98,865			88,892		195,392			185,204
Income Before Provision for Income Taxes		87,518			78,974			48,667		166,492			90,870
Provision for Income Taxes		19,985			19,025			9,759		39,010			17,220
Net Income	$	67,533		$	59,949		$	38,908	$	127,482		$	73,650
Basic Earnings Per Common Share	$	1.69		$	1.51		$	0.98	$	3.20		$	1.86
Diluted Earnings Per Common Share	$	1.68		$	1.50		$	0.98	$	3.18		$	1.85
Dividends Declared Per Common Share	$	0.67		$	0.67		$	0.67	$	1.34		$	1.34
Basic Weighted Average Common Shares		39,902,583			39,827,590			39,703,735		39,865,268			39,692,695
Diluted Weighted Average Common Shares		40,122,905			40,071,477			39,832,475		40,096,527			39,873,334
Bank of Hawaii Corporation and Subsidiaries
---	---	---	---	---	---	---	---	---	---	---	---	---	---
Consolidated Statements of Comprehensive Income												Table 4
	Three Months Ended								Year Ended
	June 30,			March 31,			June 30,		June 30,
(dollars in thousands)	2021			2021			2020		2021			2020
Net Income	$	67,533		$	59,949		$	38,908	$	127,482		$	73,650
Other Comprehensive Income (Loss), Net of Tax:
Net Unrealized Gains (Losses) on Investment Securities		(123	)		(50,050	)		7,730		(50,173	)		49,289
Defined Benefit Plans		442			441			374		883			748
Other Comprehensive Income (Loss)		319			(49,609	)		8,104		(49,290	)		50,037
Comprehensive Income	$	67,852		$	10,340		$	47,012	$	78,192		$	123,687
Bank of Hawaii Corporation and Subsidiaries
---	---	---	---	---	---	---	---	---	---	---	---
Consolidated Statements of Condition									Table 5
			March 31,			December 31,			June 30,
(dollars in thousands)			2021			2020			2020
Assets
Interest-Bearing Deposits in Other Banks	2,584		$	4,506		$	1,646		$	2,310
Funds Sold	909,730			1,101,631			333,022			800,857
Investment Securities
Available-for-Sale	4,522,941			4,024,763			3,791,689			2,726,478
Held-to-Maturity (Fair Value of 3,965,117; 3,477,346; 3,348,693; and 3,374,294)	3,947,613			3,464,360			3,262,727			3,276,829
Loans Held for Sale	47,490			18,320			82,565			20,711
Loans and Leases	12,041,378			12,140,703			11,940,020			11,805,370
Allowance for Credit Losses	(180,385	)		(198,343	)		(216,252	)		(173,439	)
Net Loans and Leases	11,860,993			11,942,360			11,723,768			11,631,931
Total Earning Assets	21,291,351			20,555,940			19,195,417			18,459,116
Cash and Due from Banks	269,153			286,717			279,420			242,423
Premises and Equipment, Net	198,508			198,107			199,695			198,582
Operating Lease Right-of-Use Assets	97,264			97,750			99,542			97,166
Accrued Interest Receivable	47,046			47,917			49,303			50,645
Foreclosed Real Estate	2,332			2,332			2,332			2,506
Mortgage Servicing Rights	21,473			22,320			19,652			22,904
Goodwill	31,517			31,517			31,517			31,517
Bank-Owned Life Insurance	292,805			291,764			291,480			291,185
Other Assets	420,734			412,907			435,293			373,898
Total Assets	22,672,183		$	21,947,271		$	20,603,651		$	19,769,942
Liabilities
Deposits
Noninterest-Bearing Demand	6,570,232		$	6,227,436		$	5,749,612		$	5,485,015
Interest-Bearing Demand	4,498,825			4,379,243			4,040,733			3,437,654
Savings	7,704,575			7,474,580			6,759,213			6,821,710
Time	1,396,077			1,475,392			1,662,063			1,678,776
Total Deposits	20,169,709			19,556,651			18,211,621			17,423,155
Funds Purchased	-			-			-			-
Short-Term Borrowings	-			-			-			-
Securities Sold Under Agreements to Repurchase	550,490			600,490			600,590			603,206
Other Debt	10,437			60,459			60,481			60,524
Operating Lease Liabilities	105,380			105,820			107,412			104,741
Retirement Benefits Payable	50,260			50,687			51,197			43,833
Accrued Interest Payable	3,879			4,109			5,117			7,775
Taxes Payable and Deferred Taxes	11,844			15,599			2,463			38,297
Other Liabilities	186,653			193,235			190,263			136,329
Total Liabilities	21,088,652			20,587,050			19,229,144			18,417,860
Shareholders' Equity
Preferred Stock (.01 par value; authorized 180,000 shares;
issued and outstanding: June 30, 2021 - 180,000 shares)	180,000			-			-			-
Common Stock (.01 par value; authorized 500,000,000 shares;
issued / outstanding: June 30, 2021 - 58,557,754 / 40,465,482;
March 31, 2021 - 58,553,365 / 40,394,234; December 31, 2020 - 58,285,624 / 40,119,312;
and June 30, 2020 - 58,263,452 / 40,047,694)	580			580			580			580
Capital Surplus	594,261			594,804			591,360			586,946
Accumulated Other Comprehensive Income (Loss)	(41,468	)		(41,787	)		7,822			18,925
Retained Earnings	1,884,431			1,844,057			1,811,979			1,786,351
Treasury Stock, at Cost (Shares: June 30, 2021 - 18,092,272; March 31, 2021 - 18,159,131;
December 31, 2020 - 18,166,312; and June 30, 2020 - 18,215,758)	(1,034,273	)		(1,037,433	)		(1,037,234	)		(1,040,720	)
Total Shareholders' Equity	1,583,531			1,360,221			1,374,507			1,352,082
Total Liabilities and Shareholders' Equity	22,672,183		$	21,947,271		$	20,603,651		$	19,769,942

All values are in US Dollars.

Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Shareholders' Equity																					Table 6
												Accum.
												Other
												Compre-
				Common								hensive
		Preferred		Shares			Common		Capital			Income			Retained			Treasury
(dollars in thousands)		Stock		Outstanding			Stock		Surplus			(Loss)			Earnings			Stock			Total
Balance as of December 31, 2020	-	$	-		40,119,312		$	580	$	591,360		$	7,822		$	1,811,979		$	(1,037,234	)	$	1,374,507
Net Income	-		-		-			-		-			-			127,482			-			127,482
Other Comprehensive Loss	-		-		-			-		-			(49,290	)		-			-			(49,290	)
Share-Based Compensation	-		-		-			-		6,122			-			-			-			6,122
Preferred Stock Issued, Net	180,000		180,000		-			-		(4,513	)		-			-			-			175,487
Common Stock Issued under Purchase
and Equity Compensation Plans	-		-		383,326			-		1,292			-			(891	)		6,259			6,660
Common Stock Repurchased	-		-		(37,156	)		-		-			-			-			(3,298	)		(3,298	)
Cash Dividends Declared Common Stock (1.34 per share)	-		-		-			-		-			-			(54,139	)		-			(54,139	)
Balance as of June 30, 2021	180,000	$	180,000		40,465,482		$	580	$	594,261		$	(41,468	)	$	1,884,431		$	(1,034,273	)	$	1,583,531
Balance as of December 31, 2019	-	$	-		40,039,695		$	579	$	582,566		$	(31,112	)	$	1,761,415		$	(1,026,616	)	$	1,286,832
Net Income	-		-		-			-		-			-			73,650			-			73,650
Other Comprehensive Income	-		-		-			-		-			50,037			-			-			50,037
Cumulative Change in Accounting Principle	-		-		-			-		-			-			3,632			-			3,632
Share-Based Compensation	-		-		-			-		3,704			-			-			-			3,704
Common Stock Issued under Purchase
and Equity Compensation Plans	-		-		195,351			1		676			-			1,333			3,041			5,051
Common Stock Repurchased	-		-		(187,352	)		-		-			-			-			(17,145	)		(17,145	)
Cash Dividends Declared Common Stock (1.34 per share)	-		-		-			-		-			-			(53,679	)		-			(53,679	)
Balance as of June 30, 2020	-	$	-		40,047,694		$	580	$	586,946		$	18,925		$	1,786,351		$	(1,040,720	)	$	1,352,082

All values are in US Dollars.

Bank of Hawaii Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis																Table 7a
							Three Months Ended							Three Months Ended
							March 31, 2021							June 30, 2020
		Income/		Yield/			Average		Income/		Yield/			Average		Income/		Yield/
(dollars in millions)		Expense		Rate			Balance		Expense		Rate			Balance		Expense		Rate
Earning Assets
Interest-Bearing Deposits in Other Banks	2.2	$	-		0.04	%	$	3.2	$	-		0.93	%	$	2.6	$	-		0.18	%
Funds Sold	946.2		0.3		0.11			550.6		0.1		0.10			545.9		0.1		0.07
Investment Securities
Available-for-Sale
Taxable	4,290.8		16.3		1.53			4,007.9		15.8		1.57			2,614.1		14.3		2.19
Non-Taxable	12.3		0.1		4.27			12.3		0.1		4.27			32.2		0.4		4.45
Held-to-Maturity
Taxable	3,496.2		13.4		1.53			3,385.8		13.1		1.55			2,957.6		16.4		2.22
Non-Taxable	41.5		0.3		2.53			38.1		0.2		2.55			54.4		0.4		2.66
Total Investment Securities	7,840.8		30.1		1.5			7,444.1		29.2		1.57			5,658.3		31.5		2.22
Loans Held for Sale	25.7		0.2		2.86			26.2		0.2		2.76			23.4		0.2		3.24
Loans and Leases 1
Commercial and Industrial	1,934.5		16.8		3.49			1,904.5		14.3		3.05			1,963.8		17.9		3.67
Commercial Mortgage	2,883.5		21.3		2.96			2,846.0		21.3		3.04			2,622.9		22.3		3.42
Construction	285.6		2.6		3.66			264.1		2.3		3.48			255.8		2.5		3.93
Commercial Lease Financing	105.7		0.4		1.54			106.4		0.4		1.43			110.9		0.5		1.88
Residential Mortgage	4,234.3		35.6		3.35			4,146.6		35.9		3.46			3,939.6		36.0		3.65
Home Equity	1,573.4		12.1		3.09			1,594.1		12.6		3.20			1,665.2		14.3		3.45
Automobile	710.4		6.1		3.45			708.3		6.1		3.51			701.2		6.2		3.55
Other 2	368.9		6.0		6.53			382.6		6.4		6.75			468.2		7.9		6.77
Total Loans and Leases	12,096.3		100.9		3.34			11,952.6		99.3		3.35			11,727.6		107.6		3.68
Other	32.3		0.2		2.26			33.4		0.2		2.21			34.0		0.1		1.47
Total Earning Assets 3	20,943.5		131.7		2.52			20,010.1		129.0		2.60			17,991.8		139.5		3.11
Cash and Due from Banks	256.1							270.7							302.4
Other Assets	874.0							869.9							895.4
Total Assets	22,073.6						$	21,150.7						$	19,189.6
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand	4,452.4		0.7		0.07		$	4,186.4		0.6		0.06		$	3,226.6		0.6		0.07
Savings	7,533.0		1.8		0.09			7,016.6		1.5		0.09			6,691.4		2.2		0.13
Time	1,418.4		1.7		0.47			1,630.0		2.2		0.56			1,826.8		5.2		1.13
Total Interest-Bearing Deposits	13,403.8		4.2		0.12			12,833.0		4.3		0.14			11,744.8		8.0		0.27
Short-Term Borrowings	-		-		-			2.4		-		0.09			57.6		-		0.28
Securities Sold Under Agreements to Repurchase	570.3		3.5		2.41			600.5		3.6		2.35			602.9		4.0		2.64
Other Debt	30.2		0.2		3.22			60.5		0.3		2.22			60.5		0.5		2.91
Total Interest-Bearing Liabilities	14,004.3		7.9		0.22			13,496.4		8.2		0.24			12,465.8		12.5		0.40
Net Interest Income		$	123.8						$	120.8						$	127.0
Interest Rate Spread					2.30	%						2.36	%						2.71	%
Net Interest Margin					2.37	%						2.43	%						2.83	%
Noninterest-Bearing Demand Deposits	6,294.5							5,832.2							4,934.7
Other Liabilities	361.9							444.8							437.8
Shareholders' Equity	1,412.9							1,377.3							1,351.3
Total Liabilities and Shareholders' Equity	22,073.6						$	21,150.7						$	19,189.6
1 Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.
2 Comprised of other consumer revolving credit, installment, and consumer lease financing.
3 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of 269,000, 252,000, and
358,000 for the three months ended June 30, 2021, March 31, 2021, and June 30, 2020, respectively.

All values are in US Dollars.

Bank of Hawaii Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis									Table 7b
							Six Months Ended
							June 30, 2020
		Income/		Yield/			Average		Income/		Yield/
(dollars in millions)		Expense		Rate			Balance		Expense		Rate
Earning Assets
Interest-Bearing Deposits in Other Banks	2.7	$	-		0.56	%	$	2.0	$	-		0.96	%
Funds Sold	749.5		0.4		0.11			349.3		0.6		0.36
Investment Securities
Available-for-Sale
Taxable	4,150.2		32.1		1.55			2,658.3		30.8		2.31
Non-Taxable	12.3		0.3		4.27			32.3		0.7		4.43
Held-to-Maturity
Taxable	3,441.3		26.5		1.54			2,996.9		35.4		2.36
Non-Taxable	39.8		0.5		2.54			54.5		0.7		2.67
Total Investment Securities	7,643.6		59.4		1.55			5,742.0		67.6		2.35
Loans Held for Sale	25.9		0.4		2.81			23.3		0.4		3.39
Loans and Leases 1
Commercial and Industrial	1,919.5		31.2		3.27			1,686.5		31.1		3.71
Commercial Mortgage	2,864.9		42.6		3.00			2,586.2		47.4		3.69
Construction	274.9		4.9		3.57			234.6		5.0		4.26
Commercial Lease Financing	106.1		0.8		1.48			111.1		1.1		1.91
Residential Mortgage	4,190.7		71.4		3.41			3,917.5		72.9		3.72
Home Equity	1,583.7		24.7		3.14			1,672.7		29.5		3.55
Automobile	709.3		12.2		3.48			711.1		12.6		3.56
Other 2	375.7		12.4		6.64			474.5		16.3		6.92
Total Loans and Leases	12,024.8		200.2		3.35			11,394.2		215.9		3.80
Other	32.9		0.4		2.24			34.2		0.3		2.01
Total Earning Assets 3	20,479.4		260.8		2.56			17,545.0		284.8		3.26
Cash and Due from Banks	263.4							290.6
Other Assets	871.9							870.5
Total Assets	21,614.7						$	18,706.1
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand	4,320.2		1.3		0.06		$	3,168.3		1.5		0.10
Savings	7,276.2		3.3		0.09			6,596.9		9.3		0.28
Time	1,523.6		3.9		0.52			1,784.9		11.4		1.28
Total Interest-Bearing Deposits	13,120.0		8.5		0.13			11,550.1		22.2		0.39
Short-Term Borrowings	1.2		-		0.09			57.7		0.2		0.52
Securities Sold Under Agreements to Repurchase	585.3		7.0		2.38			603.5		8.0		2.64
Other Debt	45.3		0.6		2.56			63.7		1.0		3.23
Total Interest-Bearing Liabilities	13,751.8		16.1		0.23			12,275.0		31.4		0.51
Net Interest Income		$	244.7						$	253.4
Interest Rate Spread					2.33	%						2.75	%
Net Interest Margin					2.40	%						2.90	%
Noninterest-Bearing Demand Deposits	6,064.6							4,698.5
Other Liabilities	403.1							400.0
Shareholders' Equity	1,395.2							1,332.6
Total Liabilities and Shareholders' Equity	21,614.7						$	18,706.1
1 Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.
2 Comprised of other consumer revolving credit, installment, and consumer lease financing.
3 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of 521,000 and 715,000
for the six months ended June 30, 2021 and June 30, 2020, respectively.

All values are in US Dollars.

Bank of Hawaii Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis							Table 8a
	Three Months Ended June 30, 2021
	Compared to March 31, 2021
(dollars in millions)	Volume ^1^			Rate ^1^			Total
Change in Interest Income:
Funds Sold	$	0.1		$	0.1		$	0.2
Investment Securities
Available-for-Sale
Taxable		1.1			(0.6	)		0.5
Held-to-Maturity
Taxable		0.4			(0.1	)		0.3
Non-Taxable		0.1			-			0.1
Total Investment Securities		1.6			(0.7	)		0.9
Loans and Leases
Commercial and Industrial		0.2			2.3			2.5
Commercial Mortgage		0.4			(0.4	)		-
Construction		0.2			0.1			0.3
Residential Mortgage		0.8			(1.1	)		(0.3	)
Home Equity		(0.2	)		(0.3	)		(0.5	)
Other ^2^		(0.2	)		(0.2	)		(0.4	)
Total Loans and Leases		1.2			0.4			1.6
Total Change in Interest Income		2.9			(0.2	)		2.7
Change in Interest Expense:
Interest-Bearing Deposits
Demand		-			0.1			0.1
Savings		0.1			0.2			0.3
Time		(0.2	)		(0.3	)		(0.5	)
Total Interest-Bearing Deposits		(0.1	)		-			(0.1	)
Securities Sold Under Agreements to Repurchase		(0.2	)		0.1			(0.1	)
Other Debt		(0.2	)		0.1			(0.1	)
Total Change in Interest Expense		(0.5	)		0.2			(0.3	)
Change in Net Interest Income	$	3.4		$	(0.4	)	$	3.0
^1^ The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.
^2^ Comprised of other consumer revolving credit, installment, and consumer lease financing.
Bank of Hawaii Corporation and Subsidiaries
---	---	---	---	---	---	---	---	---	---
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis							Table 8b
	Three Months Ended June 30, 2021
	Compared to June 30, 2020
(dollars in millions)	Volume ^1^			Rate ^1^			Total
Change in Interest Income:
Funds Sold	$	0.1		$	0.1		$	0.2
Investment Securities
Available-for-Sale
Taxable		7.2			(5.2	)		2.0
Non-Taxable		(0.2	)		(0.1	)		(0.3	)
Held-to-Maturity
Taxable		2.7			(5.7	)		(3.0	)
Non-Taxable		(0.1	)		-			(0.1	)
Total Investment Securities		9.6			(11.0	)		(1.4	)
Loans and Leases
Commercial and Industrial		(0.2	)		(0.9	)		(1.1	)
Commercial Mortgage		2.1			(3.1	)		(1.0	)
Construction		0.3			(0.2	)		0.1
Commercial Lease Financing		-			(0.1	)		(0.1	)
Residential Mortgage		2.6			(3.0	)		(0.4	)
Home Equity		(0.8	)		(1.4	)		(2.2	)
Automobile		0.1			(0.2	)		(0.1	)
Other ^2^		(1.6	)		(0.3	)		(1.9	)
Total Loans and Leases		2.5			(9.2	)		(6.7	)
Other		-			0.1			0.1
Total Change in Interest Income		12.2			(20.0	)		(7.8	)
Change in Interest Expense:
Interest-Bearing Deposits
Demand		0.2			(0.1	)		0.1
Savings		0.3			(0.7	)		(0.4	)
Time		(1.0	)		(2.5	)		(3.5	)
Total Interest-Bearing Deposits		(0.5	)		(3.3	)		(3.8	)
Securities Sold Under Agreements to Repurchase		(0.2	)		(0.3	)		(0.5	)
Other Debt		(0.3	)		-			(0.3	)
Total Change in Interest Expense		(1.0	)		(3.6	)		(4.6	)
Change in Net Interest Income	$	13.2		$	(16.4	)	$	(3.2	)
^1^ The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.
^2^ Comprised of other consumer revolving credit, installment, and consumer lease financing.
Bank of Hawaii Corporation and Subsidiaries
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Analysis of Change in Net Interest Income - Taxable-Equivalent Basis							Table 8c
	Six Months Ended June 30, 2021
	Compared to June 30, 2020
(dollars in millions)	Volume ^1^			Rate ^1^			Total
Change in Interest Income:
Funds Sold	$	0.4		$	(0.6	)	$	(0.2	)
Investment Securities
Available-for-Sale
Taxable		13.6			(12.3	)		1.3
Non-Taxable		(0.4	)		-			(0.4	)
Held-to-Maturity
Taxable		4.7			(13.6	)		(8.9	)
Non-Taxable		(0.2	)		-			(0.2	)
Total Investment Securities		17.7			(25.9	)		(8.2	)
Loans Held for Sale		0.1			(0.1	)		-
Loans and Leases
Commercial and Industrial		4.0			(3.9	)		0.1
Commercial Mortgage		4.7			(9.5	)		(4.8	)
Construction		0.8			(0.9	)		(0.1	)
Commercial Lease Financing		(0.1	)		(0.2	)		(0.3	)
Residential Mortgage		4.9			(6.4	)		(1.5	)
Home Equity		(1.5	)		(3.3	)		(4.8	)
Automobile		(0.1	)		(0.3	)		(0.4	)
Other ^2^		(3.3	)		(0.6	)		(3.9	)
Total Loans and Leases		9.4			(25.1	)		(15.7	)
Other					0.1			0.1
Total Change in Interest Income		27.6			(51.6	)		(24.0	)
Change in Interest Expense:
Interest-Bearing Deposits
Demand		0.4			(0.6	)		(0.2	)
Savings		0.9			(6.9	)		(6.0	)
Time		(1.5	)		(6.0	)		(7.5	)
Total Interest-Bearing Deposits		(0.2	)		(13.5	)		(13.7	)
Short Term Borrowings		(0.1	)		(0.1	)		(0.2	)
Securities Sold Under Agreements to Repurchase		(0.2	)		(0.8	)		(1.0	)
Other Debt		(0.3	)		(0.1	)		(0.4	)
Total Change in Interest Expense		(0.8	)		(14.5	)		(15.3	)
Change in Net Interest Income	$	28.4		$	(37.1	)	$	(8.7	)
^1^ The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.
^2^ Comprised of other consumer revolving credit, installment, and consumer lease financing.
Bank of Hawaii Corporation and Subsidiaries
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Salaries and Benefits									Table 9
	Three Months Ended						Six Months Ended
	June 30,		March 31,		June 30,		June 30,
(dollars in thousands)	2021		2021		2020		2021		2020
Salaries	$	33,413	$	31,569	$	32,739	$	64,982	$	66,225
Incentive Compensation		5,172		5,914		3,141		11,086		3,386
Share-Based Compensation		3,174		2,584		2,021		5,758		3,312
Commission Expense		2,599		2,436		1,647		5,035		3,021
Retirement and Other Benefits		5,289		5,517		4,446		10,806		9,152
Payroll Taxes		3,026		3,968		2,782		6,994		7,325
Medical, Dental, and Life Insurance		3,204		2,424		3,830		5,628		7,972
Separation Expense		284		1,839		109		2,123		4,785
Total Salaries and Benefits	$	56,161	$	56,251	$	50,715	$	112,412	$	105,178
Bank of Hawaii Corporation and Subsidiaries
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Loan and Lease Portfolio Balances									Table 10
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollars in thousands)	2021		2021		2020		2020		2020
Commercial
Commercial and Industrial	$	1,257,305	$	1,288,496	$	1,357,610	$	1,376,843	$	1,428,481
PPP^1^		513,513		725,485		517,683		531,639		528,458
Commercial Mortgage		2,944,435		2,859,246		2,854,829		2,745,611		2,707,534
Construction		277,393		281,164		259,798		250,943		245,099
Lease Financing		110,500		104,980		110,766		111,831		113,187
Total Commercial		5,103,146		5,259,371		5,100,686		5,016,867		5,022,759
Consumer
Residential Mortgage		4,264,180		4,216,976		4,130,513		4,044,228		3,989,393
Home Equity		1,594,781		1,577,500		1,604,538		1,605,486		1,640,887
Automobile		714,729		710,407		708,800		709,937		700,702
Other ^2^		364,542		376,449		395,483		417,090		451,629
Total Consumer		6,938,232		6,881,332		6,839,334		6,776,741		6,782,611
Total Loans and Leases	$	12,041,378	$	12,140,703	$	11,940,020	$	11,793,608	$	11,805,370
Deposits
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollars in thousands)	2021		2021		2020		2020		2020
Consumer	$	9,848,285	$	9,746,713	$	9,347,725	$	8,903,808	$	8,766,885
Commercial		8,675,909		8,241,102		7,302,832		7,159,531		7,295,033
Public and Other		1,645,515		1,568,836		1,561,064		1,675,544		1,361,237
Total Deposits	$	20,169,709	$	19,556,651	$	18,211,621	$	17,738,883	$	17,423,155
^1^ The PPP amounts presented, which are reported net of deferred costs and fees, were previously included as a component of the Commercial and Industrial loan class.
^2^ Comprised of other revolving credit, installment, and lease financing.
Bank of Hawaii Corporation and Subsidiaries
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Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More													Table 11
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollars in thousands)	2021			2021			2020			2020			2020
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial
Commercial and Industrial	$	258		$	293		$	441		$	475		$	459
Commercial Mortgage		8,413			8,503			8,527			8,615			8,672
Total Commercial		8,671			8,796			8,968			9,090			9,131
Consumer
Residential Mortgage		2,437			1,804			3,223			3,543			5,888
Home Equity		5,534			4,951			3,958			3,661			5,176
Total Consumer		7,971			6,755			7,181			7,204			11,064
Total Non-Accrual Loans and Leases		16,642			15,551			16,149			16,294			20,195
Foreclosed Real Estate		2,332			2,332			2,332			2,332			2,506
Total Non-Performing Assets	$	18,974		$	17,883		$	18,481		$	18,626		$	22,701
Accruing Loans and Leases Past Due 90 Days or More
Commercial
Commercial and Industrial	$	-		$	9		$	-		$	-		$	-
Total Consumer		-			9			-			-			-
Consumer
Residential Mortgage	$	4,069		$	4,069		$	5,274		$	6,607		$	4,937
Home Equity		4,498			4,906			3,187			2,571			3,519
Automobile		277			604			925			156			133
Other^1^		434			828			1,160			258			296
Total Consumer		9,278			10,407			10,546			9,592			8,885
Total Accruing Loans and Leases Past Due 90 Days or More	$	9,278		$	10,416		$	10,546		$	9,592		$	8,885
Restructured Loans on Accrual Status
and Not Past Due 90 Days or More	$	74,926		$	74,216		$	68,065		$	58,650		$	59,713
Total Loans and Leases	$	12,041,378		$	12,140,703		$	11,940,020		$	11,793,608		$	11,805,370
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases		0.14	%		0.13	%		0.14	%		0.14	%		0.17	%
Ratio of Non-Performing Assets to Total Loans and Leases
and Foreclosed Real Estate		0.16	%		0.15	%		0.15	%		0.16	%		0.19	%
Ratio of Commercial Non-Performing Assets to Total Commercial Loans
and Leases and Commercial Foreclosed Real Estate		0.17	%		0.17	%		0.18	%		0.18	%		0.18	%
Ratio of Consumer Non-Performing Assets to Total Consumer Loans
and Leases and Consumer Foreclosed Real Estate		0.15	%		0.13	%		0.14	%		0.14	%		0.20	%
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		0.23	%		0.23	%		0.24	%		0.24	%		0.27	%
Quarter to Quarter Changes in Non-Performing Assets
Balance at Beginning of Quarter	$	17,883		$	18,481		$	18,626		$	22,701		$	20,604
Additions		2,229			2,992			434			938			5,856
Reductions
Payments		(722	)		(2,481	)		(490	)		(3,729	)		(2,736	)
Return to Accrual Status		(416	)		(1,014	)		-			(1,035	)		(822	)
Sales of Foreclosed Real Estate		-			-			-			(175	)		-
Charge-offs/Write-downs		-			(95	)		(89	)		(74	)		(201	)
Total Reductions		(1,138	)		(3,590	)		(579	)		(5,013	)		(3,759	)
Balance at End of Quarter	$	18,974		$	17,883		$	18,481		$	18,626		$	22,701
^1^Comprised of other revolving credit, installment, and lease financing.
Bank of Hawaii Corporation and Subsidiaries
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Reserve for Credit Losses													Table 12
	Three Months Ended									Six Months Ended
	June 30,			March 31,			June 30,			June 30,
(dollars in thousands)	2021			2021			2020			2021			2020
Balance at Beginning of Period	$	203,779		$	221,303			141,467		$	221,303			116,849
CECL Adoption (Day 1) Impact		-			-			-			-			(5,072	)
Loans and Leases Charged-Off
Commercial
Commercial and Industrial		(456	)		(248	)		(656	)		(704	)		(1,349	)
Consumer
Residential Mortgage		(115	)		(4	)		(64	)		(119	)		(84	)
Home Equity		(107	)		(16	)		(273	)		(123	)		(273	)
Automobile		(1,209	)		(2,109	)		(3,114	)		(3,318	)		(5,614	)
Other ^1^		(2,422	)		(3,914	)		(4,176	)		(6,336	)		(8,140	)
Total Loans and Leases Charged-Off		(4,309	)		(6,291	)		(8,283	)		(10,600	)		(15,460	)
Recoveries on Loans and Leases Previously Charged-Off
Commercial
Commercial and Industrial		144			112			1,524			256			1,813
Commercial Mortgage		-			-			-			-			40
Consumer
Residential Mortgage		481			955			118			1,436			381
Home Equity		527			533			321			1,060			1,297
Automobile		1,172			919			547			2,091			1,552
Other ^1^		801			856			662			1,657			1,526
Total Recoveries on Loans and Leases Previously Charged-Off		3,125			3,375			3,172			6,500			6,609
Net Charged-Off - Loans and Leases		(1,184	)		(2,916	)		(5,111	)		(4,100	)		(8,851	)
Net Charged-Off - Accrued Interest Receivable		(124	)		(308	)		-			(432	)
Provision for Credit Losses:
Loans and Leases		(16,774	)		(14,993	)		40,400			(31,767	)		74,000
Accrued Interest Receivable		(828	)		-			-			(828	)		-
Unfunded Commitments		1,502			693			(798	)		2,195			(968	)
Balance at End of Period ^2^	$	186,371		$	203,779		$	175,958		$	186,371		$	175,958
Components
Allowance for Credit Losses - Loans and Leases	$	180,385			198,343			173,439		$	180,385			173,439
Allowance for Credit Losses - Accrued Interest Receivable		1,440			2,392			-			1,440			-
Reserve for Unfunded Commitments		4,546			3,044			2,519			4,546			2,519
Total Reserve for Credit Losses	$	186,371		$	203,779		$	175,958		$	186,371		$	175,958
Average Loans and Leases Outstanding	$	12,096,308		$	11,952,587		$	11,727,649		$	12,024,844		$	11,394,178
Ratio of Net Loans and Leases Charged-Off to
Average Loans and Leases Outstanding (annualized)		0.04	%		0.10	%		0.18	%		0.07	%		0.16	%
Ratio of Allowance for Credit Losses to Loans and Leases Outstanding ^3^		1.50	%		1.63	%		1.47	%		1.50	%		1.47	%
^1^ Comprised of other revolving credit, installment, and lease financing.
^2^ Included in this analysis is activity related to the Company's reserve for unfunded commitments, which is separately recorded in other liabilities in the Consolidated Statements of Condition.
^3^ The numerator comprises the Allowance for Credit Losses - Loans and Leases.
Bank of Hawaii Corporation and Subsidiaries
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Business Segments Selected Financial Information										Table 13a
	Consumer			Commercial			Treasury			Consolidated
(dollars in thousands)	Banking			Banking			and Other			Total
Three Months Ended June 30, 2021
Net Interest Income	$	71,167		$	49,038		$	3,309		$	123,514
Provision for Credit Losses		987			197			(17,284	)		(16,100	)
Net Interest Income After Provision for Credit Losses		70,180			48,841			20,593			139,614
Noninterest Income		32,600			6,575			5,256			44,431
Noninterest Expense		(72,868	)		(15,742	)		(7,917	)		(96,527	)
Income Before Income Taxes		29,912			39,674			17,932			87,518
Provision for Income Taxes		(7,365	)		(9,703	)		(2,917	)		(19,985	)
Net Income	$	22,547		$	29,971		$	15,015		$	67,533
Total Assets as of June 30, 2021	$	7,479,986		$	5,127,431		$	10,064,766		$	22,672,183
Three Months Ended June 30, 2020 ^1^
Net Interest Income	$	73,221		$	51,219		$	2,251		$	126,691
Provision for Credit Losses		6,137			(1,025	)		35,288			40,400
Net Interest Income (Loss) After Provision for Credit Losses		67,084			52,244			(33,037	)		86,291
Noninterest Income		28,943			7,076			15,249			51,268
Noninterest Expense		(70,590	)		(14,776	)		(3,526	)		(88,892	)
Income (Loss) Before Income Taxes		25,437			44,544			(21,314	)		48,667
Provision for Income Taxes		(6,492	)		(10,940	)		7,673			(9,759	)
Net Income (Loss)	$	18,945		$	33,604		$	(13,641	)	$	38,908
Total Assets as of June 30, 2020 ^1^	$	7,416,090		$	5,033,169		$	7,320,683		$	19,769,942
^1^Certain prior period information has been reclassified to conform to current presentation.
Bank of Hawaii Corporation and Subsidiaries
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Business Segments Selected Financial Information										Table 13b
	Consumer			Commercial			Treasury			Consolidated
(dollars in thousands)	Banking			Banking			and Other			Total
Six Months Ended June 30, 2021
Net Interest Income	$	140,929		$	96,181		$	6,973		$	244,083
Provision for Credit Losses		3,853			247			(34,500	)		(30,400	)
Net Interest Income After Provision for Credit Losses		137,076			95,934			41,473			274,483
Noninterest Income		66,298			14,433			6,670			87,401
Noninterest Expense		(151,049	)		(31,419	)		(12,924	)		(195,392	)
Income Before Income Taxes		52,325			78,948			35,219			166,492
Provision for Income Taxes		(12,839	)		(19,261	)		(6,910	)		(39,010	)
Net Income	$	39,486		$	59,687		$	28,309		$	127,482
Total Assets as of June 30, 2021	$	7,479,986		$	5,127,431		$	10,064,766		$	22,672,183
Six Months Ended June 30, 2020 ^1^
Net Interest Income	$	147,135		$	96,456		$	9,066		$	252,657
Provision for Credit Losses		9,588			(735	)		65,147			74,000
Net Interest Income (Loss) After Provision for Credit Losses		137,547			97,191			(56,081	)		178,657
Noninterest Income		61,533			18,811			17,073			97,417
Noninterest Expense		(141,336	)		(32,122	)		(11,746	)		(185,204	)
Income (Loss) Before Income Taxes		57,744			83,880			(50,754	)		90,870
Provision for Income Taxes		(14,608	)		(20,494	)		17,882			(17,220	)
Net Income (Loss)	$	43,136		$	63,386		$	(32,872	)	$	73,650
Total Assets as of June 30, 2020 ^1^	$	7,416,090		$	5,033,169		$	7,320,683		$	19,769,942
^1^Certain prior period information has been reclassified to conform to current presentation.
Bank of Hawaii Corporation and Subsidiaries
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Selected Quarterly Financial Data																	Table 14
	Three Months Ended
	June 30,				March 31,				December 31,				September 30,				June 30,
(dollars in thousands, except per share amounts)	2021				2021				2020				2020				2020
Quarterly Operating Results
Interest Income
Interest and Fees on Loans and Leases	$	100,894			$	99,299			$	98,471			$	103,189			$	107,628
Income on Investment Securities
Available-for-Sale		16,467				15,837				15,449				14,558				14,576
Held-to-Maturity		13,576				13,300				14,113				15,967				16,723
Deposits		-				7				1				3				1
Funds Sold		260				137				115				149				92
Other		182				185				167				151				125
Total Interest Income		131,379				128,765				128,316				134,017				139,145
Interest Expense
Deposits		4,152				4,329				4,861				5,891				7,954
Securities Sold Under Agreements to Repurchase		3,470				3,533				3,614				3,622				4,020
Funds Purchased		-				1				5				-				18
Short-Term Borrowings		-				-				-				1				22
Other Debt		243				333				337				337				440
Total Interest Expense		7,865				8,196				8,817				9,851				12,454
Net Interest Income		123,514				120,569				119,499				124,166				126,691
Provision for Credit Losses		(16,100	)			(14,300	)			15,200				28,600				40,400
Net Interest Income After Provision for Credit Losses		139,614				134,869				104,299				95,566				86,291
Noninterest Income
Trust and Asset Management		11,682				11,278				11,239				10,752				10,550
Mortgage Banking		3,058				5,862				6,851				4,047				4,278
Service Charges on Deposit Accounts		6,065				6,128				6,335				6,027				5,097
Fees, Exchange, and Other Service Charges		13,807				13,607				12,143				12,296				9,417
Investment Securities Gains (Losses), Net		2,423				(1,203	)			(1,193	)			(1,121	)			13,216
Annuity and Insurance		911				702				670				881				883
Bank-Owned Life Insurance		2,063				1,917				2,353				1,806				1,649
Other		4,422				4,679				6,860				7,046				6,178
Total Noninterest Income		44,431				42,970				45,258				41,734				51,268
Noninterest Expense
Salaries and Benefits		56,161				56,251				50,200				51,951				50,715
Net Occupancy		5,047				9,090				14,536				7,281				8,761
Net Equipment		8,796				8,878				9,574				9,223				8,195
Data Processing		4,557				6,322				4,604				4,691				4,416
Professional Fees		3,114				3,406				3,174				2,743				3,061
FDIC Insurance		1,669				1,654				1,484				1,282				1,558
Other		17,183				13,264				15,082				12,778				12,186
Total Noninterest Expense		96,527				98,865				98,654				89,949				88,892
Income Before Provision for Income Taxes		87,518				78,974				50,903				47,351				48,667
Provision for Income Taxes		19,985				19,025				8,589				9,511				9,759
Net Income	$	67,533			$	59,949			$	42,314			$	37,840			$	38,908
Basic Earnings Per Common Share	$	1.69			$	1.51			$	1.06			$	0.95			$	0.98
Diluted Earnings Per Common Share	$	1.68			$	1.50			$	1.06			$	0.95			$	0.98
Balance Sheet Totals
Loans and Leases	$	12,041,378			$	12,140,703			$	11,940,020			$	11,793,608			$	11,805,370
Total Assets		22,672,183				21,947,271				20,603,651				20,109,489				19,769,942
Total Deposits		20,169,709				19,556,651				18,211,621				17,738,883				17,423,155
Total Shareholders' Equity		1,583,531				1,360,221				1,374,507				1,361,739				1,352,082
Performance Ratios
Return on Average Assets		1.23		%		1.15		%		0.83		%		0.76		%		0.82	%
Return on Average Shareholders' Equity		19.17				17.65				12.26				11.01				11.58
Return on Average Common Equity		19.60				17.65				12.26				11.01				11.58
Efficiency Ratio ^1^		57.47				60.45				59.88				54.22				49.95
Net Interest Margin ^2^		2.37				2.43				2.48				2.67				2.83
^1^ Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income).
^2^ Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.
Bank of Hawaii Corporation and Subsidiaries
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Hawaii Economic Trends																	Table 15
	Five Months Ended					Year Ended
($ in millions; jobs in thousands)	May 31, 2021					December 31, 2020							December 31, 2019
Hawaii Economic Trends
State General Fund Revenues^1^	$	3,290.3	22.4		%	$	6,415.1			(12.3	)	%	$	7,316.5				5.5		%
General Excise and Use Tax Revenue^1^	$	1,395.8	(2.3	)	%	$	3,038.8			(15.6	)	%	$	3,602.2				5.1		%
Jobs ^2^		596.5					588.2							659.7
								June 30,					December 31,
(spot rates)									2021				2020				2019
Unemployment^3^
Statewide										7.7		%		10.3		%		2.1		%
Oahu										6.7				9.3				2.0
Island of Hawaii										7.5				10.1				2.5
Maui										10.2				14.3				2.0
Kauai										10.8				13.9				2.1
						June 30,			December 31,
(percentage change, except months of inventory)						2021			2020				2019				2018
Housing Trends (Single Family Oahu) ^4^
Median Home Price							21.0	%		5.2		%		(0.1	)	%		4.6		%
Home Sales Volume (units)							32.9	%		2.3		%		3.9		%		(7.7	)	%
Months of Inventory							1.2			1.4				2.5				2.8
						Monthly Visitor Arrivals,							Percentage Change
(in thousands)						Not Seasonally Adjusted							from Previous Year
Tourism ^5^
May 31, 2021										629.7								6,807.4
April 30, 2021										484.1								10,506.3
March 31, 2021										439.8								1.1
February 28, 2021										235.3								(71.6	)
January 31, 2021										172.0								(80.1	)
December 31, 2020										235.8								(75.2	)
November 30, 2020										183.8								(77.3	)
October 31, 2020										76.6								(90.4	)
September 30, 2020										18.9								(97.4	)
August 31, 2020										22.3								(97.6	)
July 31, 2020										22.6								(97.7	)
June 30, 2020										17.1								(98.2	)
May 31, 2020										9.1								(98.9	)
April 30, 2020										4.6								(99.5	)
March 31, 2020										434.9								(53.7	)
February 29, 2020										828.1								5.8
January 31, 2020										862.6								5.1
December 31, 2019										952.4								5.8
November 30, 2019										809.1								3.9
October 31, 2019										796.2								4.3
September 30, 2019										738.2								3.1
August 31, 2019										926.4								9.6
July 31, 2019										995.2								5.9
June 30, 2019										951.6								6.1
May 31, 2019										841.4								4.6
April 30, 2019										856.3								6.6
March 31, 2019										939.1								3.9
February 28, 2019										782.7								0.5
January 31, 2019										820.6								3.0
^1^Source: Hawaii Department of Business, Economic Development & Tourism
^2^Source: U. S. Bureau of Labor Statistics
^3^Source: UHERO
^4^Source: Honolulu Board of REALTORS
^5^Source: Hawaii Tourism Authority	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^	^^

Bank of Hawaii Corporation second quarter 2021 financial report July 26, 2021 Exhibit 99.2

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

unemployment experience & forecast 4 source: UHERO, seasonally adjusted Hawaii unemployment rate

Hawaii real estate market Oahu market indicators – 2021 vs 2020 5 source: Honolulu Board of Realtors, compiled from MLS data

daily arrivals total passenger count* 6 *source: Department of Business, Economic Development, and Tourism, excluding from Canada 7/8/21: testing and quarantine lifted for fully vaccinated U.S. travelers 10/15/20: launch of Safe Travels program

COVID-19 cases 7 source: Washington Post as of 7/23/21

COVID-19 vaccinations 8 source: Washington Post as of 7/23/21 U.S. overall 48.8%

2Q financial update

10 core customers continue to drive growth in balances growth from core customers $ in millions ample liquidity to fund additional growth: investments increased by $1 billion in highly liquid, low-risk portfolio and holding $910 million cash

financial summary $ in millions, except per share amounts 11 note: numbers may not add up due to rounding

disciplined expenses $ in millions 12 core noninterest expense remains flat; other increases driven by restoration of incentives and higher volume restoration of incentives reduced in 2020 to support reserve provisioning for pandemic core expenses flat related to higher mortgage balances, value sharing, and higher debit card income core YoY expense growth: 0.3% Honolulu inflation 2021F: 2.5%* *source: Department of Business, Economic Development, and Tourism 2nd quarter 2021 report

performance metrics 13

14 strong capital boosted by preferred stock issuance in June and strong earnings position us well for future balance sheet growth stronger fortress capital positioned for further growth note: 2Q21 regulatory capital ratios are preliminary total deposit growth of $4.4 billion, or 19% annualized, since end of 2019 issued $180 million 4.375% fixed rate series A preferred stock in June 2021 5th lowest $25-Par U.S. Bank preferred dividend ever at time of issuance 8th lowest $25-Par preferred dividend ever, across all industries at time of issuance

15 note: historical dividends adjusted for stock splits return to buybacks and increased dividend healthy earnings to support dividends and repurchases share buybacks plan to restart share repurchase program in July 2021 $113 million share buyback authority remaining dividends raising common equity dividend from $0.67 per share to $0.70 per share recession COVID-19

2Q credit update

customer relief update 17 15.7% 2.7% 93% secured

91% paying interest commercial consumer 99.3% of former deferrals are current 88.2% decline in deferrals since June 30, 2020

credit quality $ in millions 18 * 56% of total criticized in CRE with 59% wtd avg LTV

reserve trend $ in millions 19 allowance for credit losses note: balances and coverage ratio based on allowance for credit losses – loans and leases

Q & A

Bank of Hawaii Corporation second quarter 2021 financial report July 26, 2021

appendix

economic forecast source: UHERO Hawaii unemployment rate 23

economic forecast source: UHERO 24

growing low cost deposits 25 continuing to build very low cost funding to mitigate impact of higher rates $ in millions

funding opportunities loan to deposit ratio compared with peers strong liquidity to fund continued growth 26 note: S&P Regional Banking Index excluding banks greater than $50bn

loan portfolio excluding PPP 27 40% commercial 70% real estate secured wtd avg LTV 56% 62% w/ BOH ≥ 10 yrs avg balance $0.6MM CRE C&I residential mortgage home equity auto leasing other construction 60% consumer 84% real estate secured wtd avg LTV 56% 57% w/ BOH ≥ 10 yrs 79% of portfolio secured with quality real estate with combined weighted average loan to value of 56% note: excludes $528MM in PPP loan balances including deferred costs and fees

28 99% secured with 68% weighted average LTV as of 6/30/21 consumer relief $13 million (0.1%) 73% wtd avg CLTV 698 wtd avg FICO 29% <700 FICO / >70% CLTV 66% wtd avg LTV 731 wtd avg FICO 20% <700 FICO / >70% LTV *other consists of auto lease

29 93% secured with 46% weighted average LTV as of 6/30/21 97% continue to pay interest commercial relief $205 million (1.7%) $0.7MM secured with 61% wtd avg LTV $0.7MM avg loan 46% wtd avg LTV 79% ≤ 65% LTV $5.7MM avg loan

high risk industries $1,577 million (13%) / $1,379 million (11%) excluding PPP 30

retail $706 million (6%) – excluding PPP 31 94% real estate secured 55% wtd avg LTV average exposure $3.7MM largest exposure $39MM 64% of portfolio has an LTV ≤ 65%

98.8% is secured or has essential anchor

0.0% unsecured and deferred

100% secured or paying interest

lodging $521 million (4%) – excluding PPP 32 81% real estate secured 52% wtd avg LTV average exposure $9.5MM largest exposure $40MM 81% of portfolio has an LTV ≤ 65%

92% of unsecured outstandings to global hotel and timeshare brands

0.1% unsecured and deferred

100% secured or paying interest

restaurant / entertainment $152 million (1%) – excluding PPP 33 41% real estate secured 66% wtd avg LTV average exposure $1.8MM largest exposure $28.1MM 38% of portfolio has an LTV ≤ 65%

$4.7MM unsecured and deferred average exposure $0.5MM

100% secured or paying interest