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

Diluted Earnings Per Common Share of $1.39 for the Fourth Quarter 2025Net Income of $60.9 Million for the Fourth Quarter 2025Net Interest Margin Increased to 2.61%, a 15 Basis Point Improvement during the Fourth Quarter 2025Quarterly Cost of Deposits Decreased to 1.43% Compared to 1.59% during the Linked QuarterShare Repurchases Resumed during the Fourth Quarter 2025 HONOLULU--(BUSINESS WIRE)--Jan. 26, 2026-- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $4.63 for the full year of 2025, compared with $3.46 for the full year of 2024. Net income for the year was $205.9 million, up 37.3% from the previous year. The return on average common equity for the full year of 2025 was 13.29% compared with 10.85% in 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260126613394/en/ Diluted earnings per common share was $1.39 for the fourth quarter of 2025, compared with $1.20 during the linked quarter and $0.85 during the same period last year. Net income for the fourth quarter of 2025 was $60.9 million, up 14.2% from the linked quarter and up 55.6% from the same period last year. The return on average common equity for the fourth quarter of 2025 was 15.03% compared with 13.59% during the linked quarter and 10.30% during the same period last year. “Bank of Hawai‘i completed 2025 with strong financial performance,” said Peter Ho, Chairman and CEO. “We continued to deliver consistent growth in net interest income and margin for the seventh consecutive quarter. Noninterest-bearing deposit balances increased 6.6% from the linked quarter and end of period total deposits and total loans and leases increased modestly. Credit quality remains outstanding, and we continue to be disciplined in managing expenses. Our strong performance reflects the hard work and exceptional commitment of our employees, whose dedication continues to drive our success.” Financial Highlights Net interest income for the fourth quarter of 2025 was $145.4 million, an increase of 6.4% from the linked quarter and an increase of 21.0% as compared to the same period last year. The increase from the linked quarter was primarily driven by lower interest‑bearing deposit rates, partially offset by a 1 basis point decline in earning asset yield, as the negative impact from floating rate assets repricing down in a lower rate environment outweighed the benefit from fixed rate assets rolling off at lower interest rates and being reinvested at higher rates (fixed-rate asset repricing). The increase from the same period last year was primarily due to lower interest-bearing deposit rates and fixed asset repricing, partially offset by floating rate assets repricing to lower interest rates. Net interest margin was 2.61% in the fourth quarter of 2025, an increase of 15 basis points from the linked quarter and an increase of 42 basis points from the same period last year. The increase from the prior periods was primarily due to lower interest-bearing deposit rates and fixed-rate asset repricing, partially offset by floating rate assets repricing to lower interest rates. The average yield on total earning assets was 4.07% in the fourth quarter of 2025, down 1 basis point from the linked quarter and up 10 basis points from the same period last year. The average yield on loans and leases was 4.81% in the fourth quarter of 2025, down 5 basis points from the linked quarter and up 8 basis points from the same period last year. The decrease in loan yield from the linked quarter was primarily driven by floating rate assets repricing to lower interest rates, which outweighed the benefit from fixed-rate asset repricing. The increase in loan yield from the same period last year is primarily due to new and existing loans earning higher rates than paid-off loans. The average rate of interest-bearing deposits was 1.94% in the fourth quarter of 2025, down 20 basis points from the linked quarter and down 43 basis points from the same period last year. The average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.43%, down 16 basis points from the linked quarter and down 34 basis points from the same period last year. The decreases were primarily due to lower benchmark interest rates. Deposit beta for the downward rate cycle was 31% as of the fourth quarter of 2025. Noninterest income was $44.3 million in the fourth quarter of 2025, a decrease of 3.7% from the linked quarter and an increase of 2.8% from the same period last year. Noninterest income in the fourth quarter included a $18.1 million gain related to the sale of our merchant services portfolio, a $16.8 million loss on the sale of investments, and a $0.8 million charge related to a Visa Class B share conversion ratio change. We realized a $16.8 million loss on the sale of investments in the fourth quarter of 2025 as we replaced approximately $200 million of available-for-sale securities portfolio yielding approximately 1.5% with new securities yielding approximately 4.9%. Noninterest income in the linked quarter and same period last year also included charges related to Visa Class B share conversion ratio change of $0.8 million and $2.4 million, respectively. We sold our merchant services portfolio in the fourth quarter of 2025, which contributed approximately $3.0 million of non-recurring noninterest income in the linked quarter and the same period last year. Adjusted for these items, noninterest income was flat from the linked quarter and increased by 3.1% from the same period last year. The increase from the same period last year was due to increases in trust and asset management and other loan fees. Noninterest expense was $109.5 million in the fourth quarter of 2025, a decrease of 2.6% from the linked quarter and an increase of 1.5% from the same period last year. Noninterest expense in the fourth quarter included a $1.4 million reduction in our FDIC special assessment charge and a $1.1 million donation to the Bank of Hawai‘i Foundation. Noninterest expense in the linked quarter included a $2.1 million severance-related charge. Noninterest expense in the linked quarter and same period last year also included approximately $2.2 million in non-recurring Merchant Services expenses. Adjusted for these items, noninterest expense increased by 1.6% from the linked quarter and increased by 3.9% from the same period last year. The increase from the linked quarter was primarily due to higher salaries and benefits and other expenses, partially offset by lower occupancy expenses. The increase from the same period last year was primarily due to higher salaries and benefits and other expenses, partially offset by lower professional fees. The effective tax rate for the fourth quarter of 2025 was 21.50% compared to 21.27% during the linked quarter and 24.02% during the same period last year. Compared to the same period last year, the decrease in our effective tax rate was primarily due to a decrease in nondeductible compensation, and increases in tax benefits related to low-income housing investments, as well as a change in discrete items. Asset Quality The Company’s overall asset quality remained strong during the fourth quarter of 2025. Provision for credit losses for the fourth quarter of 2025 was $2.5 million, unchanged from the linked quarter and down $1.3 million from the same period last year. Total non-performing assets were $14.2 million at December 31, 2025, down $2.7 million from September 30, 2025 and down $5.1 million from December 31, 2024. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.10% at the end of the quarter, decreases of 2 basis points and 4 basis points from the linked quarter and the same period last year, respectively. Net loan and lease charge-offs during the fourth quarter of 2025 were $4.1 million or 12 basis points annualized of total average loans and leases outstanding. Gross charge-offs of $5.3 million were partially offset by gross recoveries of $1.2 million. Compared to the linked quarter, net loan and lease charge-offs increased by $1.6 million or 5 basis points annualized on total average loans and leases outstanding. Compared to the same period last year, net loan and lease charge-offs increased by $0.7 million or 2 basis points annualized on total average loans and leases outstanding. The allowance for credit losses on loans and leases was $146.8 million at December 31, 2025, a decrease of $2.0 million from September 30, 2025 and a decrease of $1.8 million from December 31, 2024. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.04% at the end of the quarter, down 2 basis points from the linked quarter and the same period last year. Balance Sheet Total assets were $24.2 billion at December 31, 2025, an increase of 0.7% from September 30, 2025 and an increase of 2.4% from December 31, 2024. The increases from the linked quarter and same period last year were primarily due to increases in available-for-sale securities, partially offset by decreases in held-to-maturity securities. The investment securities portfolio was $7.8 billion at December 31, 2025, an increase of 1.8% from September 30, 2025 and an increase of 6.1% from December 31, 2024. The increases from the prior periods were primarily due to the purchases of available-for-sale investment securities, partially offset by the amortization of the portfolio. The investment securities portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises. Total loans and leases were $14.1 billion at December 31, 2025, an increase of 0.4% from September 30, 2025 and flat from December 31, 2024. Total commercial loans were $6.1 billion at December 31, 2025, a decrease of 0.1% from September 30, 2025 and a decrease of 0.6% from December 31, 2024. The decrease from the linked quarter was primarily due to loan amortization and paydowns within our construction portfolio, partially offset by commercial mortgage production. The decrease from the same period last year was primarily due to loan amortization and paydowns within our commercial and industrial and construction portfolios, partially offset by commercial mortgage production. Total consumer loans were $8.0 billion at December 31, 2025, an increase of 0.9% from the linked quarter and an increase of 0.6% from the same period last year. The increase from the linked quarter was primarily due to increased production in the residential mortgage portfolio, partially offset by amortization and paydowns in the home equity portfolio. The increase from the same period last year was primarily due to increased production in the residential mortgage portfolio, partially offset by amortization and paydowns in the automobile portfolio. Total deposits were $21.2 billion at December 31, 2025, an increase of 0.5% from September 30, 2025 and an increase of 2.7% from December 31, 2024. Noninterest-bearing deposits made up 27.2% of total deposit balances at December 31, 2025, up from 25.6% at September 30, 2025 and up from 26.3% at December 31, 2024. Average total deposits were $21.0 billion for the fourth quarter of 2025, down 0.4% from the linked quarter and up 1.1% from the same period last year. Capital and Dividends The Company’s capital levels remain well above regulatory well-capitalized minimums. The Tier 1 Capital Ratio was 14.49% at December 31, 2025 compared with 14.34% at September 30, 2025 and 13.95% at December 31, 2024. The increase from prior periods was due to retained earnings growth. The Tier 1 Leverage Ratio was 8.57% at December 31, 2025, compared with 8.44% at September 30, 2025 and 8.31% at December 31, 2024. The increase from the linked quarter was due to an increase in retained earnings and a decrease in average total assets. The increase from the same period last year was due to an increase in retained earnings, partially offset by an increase in average assets. The Company repurchased 76.5 thousand shares of common stock at a total cost of $5.0 million under the share repurchase program in the fourth quarter of 2025. Total remaining buyback authority under the share repurchase program was $121.0 million at December 31, 2025. The Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company’s outstanding common shares. The dividend will be payable on March 13, 2026 to shareholders of record at the close of business on February 27, 2026. On January 5, 2026, the Company announced that the Board of Directors declared a quarterly dividend payment of $10.94 per share, equivalent to $0.2735 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, and a quarterly dividend payment of $20.00 per share, equivalent to $0.5000 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares representing the Series A Preferred Stock and Series B Preferred Stock are traded on the NYSE under the symbol “BOH.PRA” and “BOH.PRB”, respectively. The dividends on the Series A Preferred Stock and Series B Preferred Stock will be payable on February 2, 2026 to shareholders of record of the preferred stock as of the close of business on January 16, 2026. Conference Call Information The Company will review its fourth quarter financial results today at 8:00 a.m. Hawai‘i Time (1:00 p.m. Eastern Time). The live call, including a slide presentation, will be accessible on the investor relations link of Bank of Hawai‘i Corporation's website, www.boh.com. The webcast can be accessed via the link: https://register-conf.media-server.com/register/BI34f63e9b4766446cafc8f47a1a745b34. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, January 26, 2026. The replay will be available on the Company's website, www.boh.com. Investor Announcements Investors and others should note that the Company intends to announce financial and other information to the Company’s investors using the Company’s investor relations website at https://ir.boh.com, social media channels, press releases, SEC filings and public conference calls and webcasts, all for purposes of complying with the Company’s disclosure obligations under Regulation FD. Accordingly, investors should monitor these channels, as information is updated, and new information is posted. Forward-Looking Statements This news release, and other statements made by the Company in connection with it may contain "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties that could cause results to be materially different from expectations. Forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations are examples of certain of these forward-looking statements. Do not unduly rely on forward-looking statements. Actual results might differ significantly from our forecasts and expectations because of a variety of factors. More information about these factors is contained in Bank of Hawai‘i Corporation's Annual Report on Form 10-K for the year ended December 31, 2024 and its Form 10-Q for fiscal quarters ended March 31, 2025, June 30, 2025, and September 30, 2025 which were filed with the U.S. Securities and Exchange Commission. These forward-looking statements are not guarantees of future performance and speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances. Bank of Hawai‘i Corporation is an independent regional financial services company serving businesses, consumers, and governments in Hawai‘i and the West Pacific. The Company's principal subsidiary, Bank of Hawai‘i, was founded in 1897. For more information about Bank of Hawai‘i Corporation, see the Company’s website, www.boh.com. Bank of Hawai‘i Corporation is a trade name of Bank of Hawaii Corporation. Bank of Hawai‘i Corporation and Subsidiaries Financial Highlights Table 1 Three Months Ended Twelve Months Ended (dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 For the Period: Operating Results Net Interest Income $ 145,374 $ 136,675 $ 120,178 $ 537,539 $ 466,580 Provision for Credit Losses 2,500 2,500 3,750 11,500 11,150 Total Noninterest Income 44,271 45,966 43,047 179,090 172,529 Total Noninterest Expense 109,518 112,387 107,931 443,147 430,108 Pre-Provision Net Revenue 80,127 70,254 55,294 273,482 209,001 Net Income 60,935 53,345 39,162 205,902 149,994 Net Income Available to Common Shareholders 55,666 48,076 33,893 184,825 137,350 Basic Earnings Per Common Share 1.40 1.21 0.86 4.67 3.48 Diluted Earnings Per Common Share 1.39 1.20 0.85 4.63 3.46 Dividends Declared Per Common Share 0.70 0.70 0.70 2.80 2.80 Performance Ratios Return on Average Assets 1.01 % 0.88 % 0.66 % 0.87 % 0.64 % Return on Average Shareholders' Equity 13.33 12.10 9.42 11.86 9.78 Return on Average Common Equity 15.03 13.59 10.30 13.29 10.85 Efficiency Ratio 1 57.75 61.53 66.12 61.84 67.30 Net Interest Margin 2 2.61 2.46 2.19 2.45 2.16 Dividend Payout Ratio 3 50.00 57.85 81.40 59.96 80.46 Average Shareholders' Equity to Average Assets 7.57 7.29 6.98 7.29 6.56 Average Balances Average Loans and Leases $ 14,013,532 $ 13,982,003 $ 13,964,687 $ 14,026,427 $ 13,868,916 Average Assets 23,958,401 23,995,037 23,682,494 23,798,535 23,362,736 Average Deposits 20,980,199 21,068,286 20,756,682 20,855,867 20,536,239 Average Shareholders' Equity 1,814,000 1,748,576 1,654,156 1,736,055 1,533,243 Per Share of Common Stock Book Value $ 37.92 $ 36.35 $ 33.27 $ 37.92 $ 33.27 Tangible Book Value 37.12 35.56 32.47 37.12 32.47 Market Value Closing 68.37 65.64 71.24 68.37 71.24 High 71.85 71.90 82.70 76.00 82.70 Low 59.36 60.32 60.58 57.45 54.50 December 31, 2025 September 30, 2025 December 31, 2024 As of Period End: Balance Sheet Totals Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,075,980 Total Assets 24,176,364 24,014,609 23,601,114 Total Deposits 21,188,495 21,080,669 20,633,037 Other Debt 558,176 558,201 558,274 Total Shareholders' Equity 1,851,212 1,791,183 1,667,774 Asset Quality Non-Performing Assets $ 14,171 $ 16,864 $ 19,300 Allowance for Credit Losses - Loans and Leases 146,766 148,778 148,528 Allowance to Loans and Leases Outstanding 4 1.04 % 1.06 % 1.06 % Capital Ratios 5 Common Equity Tier 1 Capital Ratio 12.13 % 11.98 % 11.59 % Tier 1 Capital Ratio 14.49 14.34 13.95 Total Capital Ratio 15.54 15.40 15.00 Tier 1 Leverage Ratio 8.57 8.44 8.31 Total Shareholders' Equity to Total Assets 7.66 7.46 7.07 Tangible Common Equity to Tangible Assets 6 6.11 5.90 5.48 Tangible Common Equity to Risk-Weighted Assets 6 10.35 9.95 9.08 Non-Financial Data Full-Time Equivalent Employees 1,877 1,905 1,865 Branches 51 51 50 ATMs 320 322 317 Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.Dividend payout ratio is defined as dividends declared per common share divided by basic earnings per common share.The numerator comprises the Allowance for Credit Losses - Loans and Leases.Regulatory capital ratios as of December 31, 2025 are preliminary.Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. Tangible common equity is defined by the Company as common shareholders' equity minus goodwill. See Table 2 “Reconciliation of Non-GAAP Financial Measures”. Bank of Hawai‘i Corporation and Subsidiaries Reconciliation of Non-GAAP Financial Measures Table 2 (dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 Total Shareholders' Equity $ 1,851,212 $ 1,791,183 $ 1,667,774 Less: Preferred Stock 345,000 345,000 345,000 Goodwill 31,517 31,517 31,517 Tangible Common Equity $ 1,474,695 $ 1,414,666 $ 1,291,257 Total Assets $ 24,176,364 $ 24,014,609 $ 23,601,114 Less: Goodwill 31,517 31,517 31,517 Tangible Assets $ 24,144,847 $ 23,983,092 $ 23,569,597 Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1 $ 14,246,491 $ 14,215,866 $ 14,225,908 Total Shareholders' Equity to Total Assets 7.66% 7.46% 7.07% Tangible Common Equity to Tangible Assets (Non-GAAP) 6.11% 5.90% 5.48% Tier 1 Capital Ratio 1 14.49% 14.34% 13.95% Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1 10.35% 9.95% 9.08% Regulatory capital ratios as of December 31, 2025 are preliminary. Bank of Hawai‘i Corporation and Subsidiaries Consolidated Statements of Income Table 3 Three Months Ended Twelve Months Ended (dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Interest Income Interest and Fees on Loans and Leases $ 168,234 $ 169,411 $ 164,785 $ 667,506 $ 653,615 Income on Investment Securities Available-for-Sale 32,950 29,702 23,223 114,027 89,705 Held-to-Maturity 18,929 19,332 20,677 78,387 85,515 Cash and Cash Equivalents 5,936 8,195 9,425 23,408 30,701 Other 1,245 1,068 1,107 4,495 4,215 Total Interest Income 227,294 227,708 219,217 887,823 863,751 Interest Expense Deposits 75,477 84,590 92,099 324,235 368,764 Securities Sold Under Agreements to Repurchase 496 496 992 2,227 4,608 Other Debt 5,947 5,947 5,948 23,822 23,799 Total Interest Expense 81,920 91,033 99,039 350,284 397,171 Net Interest Income 145,374 136,675 120,178 537,539 466,580 Provision for Credit Losses 2,500 2,500 3,750 11,500 11,150 Net Interest Income After Provision for Credit Losses 142,874 134,175 116,428 526,039 455,430 Noninterest Income Trust and Asset Management 12,883 12,598 12,157 49,319 47,485 Fees, Exchange, and Other Service Charges 12,298 15,219 14,399 56,337 57,236 Service Charges on Deposit Accounts 8,694 8,510 8,678 33,582 32,430 Bank-Owned Life Insurance 3,758 3,681 3,283 14,764 13,568 Annuity and Insurance 1,124 1,095 1,347 5,211 5,436 Mortgage Banking 917 906 942 3,660 4,109 Investment Securities Losses, Net (18,717 ) (1,945 ) (3,306 ) (23,395 ) (7,507 ) Other 23,314 5,902 5,547 39,612 19,772 Total Noninterest Income 44,271 45,966 43,047 179,090 172,529 Noninterest Expense Salaries and Benefits 61,675 62,905 58,690 248,772 232,564 Net Equipment 10,047 10,285 10,308 40,501 40,886 Net Occupancy 10,029 10,932 10,263 42,019 42,084 Data Processing 5,659 5,603 5,313 21,985 19,540 Professional Fees 3,682 4,022 4,988 16,231 19,319 FDIC Insurance 2,378 3,508 3,711 11,168 17,850 Other 16,048 15,132 14,658 62,471 57,865 Total Noninterest Expense 109,518 112,387 107,931 443,147 430,108 Income Before Provision for Income Taxes 77,627 67,754 51,544 261,982 197,851 Provision for Income Taxes 16,692 14,409 12,382 56,080 47,857 Net Income $ 60,935 $ 53,345 $ 39,162 $ 205,902 $ 149,994 Preferred Stock Dividends 5,269 5,269 5,269 21,077 12,644 Net Income Available to Common Shareholders $ 55,666 $ 48,076 $ 33,893 $ 184,825 $ 137,350 Basic Earnings Per Common Share $ 1.40 $ 1.21 $ 0.86 $ 4.67 $ 3.48 Diluted Earnings Per Common Share $ 1.39 $ 1.20 $ 0.85 $ 4.63 $ 3.46 Dividends Declared Per Common Share $ 0.70 $ 0.70 $ 0.70 $ 2.80 $ 2.80 Basic Weighted Average Common Shares 39,641,382 39,655,741 39,513,210 39,618,830 39,450,737 Diluted Weighted Average Common Shares 40,003,635 39,980,931 39,836,758 39,934,431 39,700,388 Bank of Hawai‘i Corporation and Subsidiaries Consolidated Statements of Comprehensive Income Table 4 Three Months Ended Twelve Months Ended (dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net Income $ 60,935 $ 53,345 $ 39,162 $ 205,902 $ 149,994 Other Comprehensive Income (Loss), Net of Tax: Net Change in Unrealized Gains (Losses) on Investment Securities 29,367 22,711 (7,388 ) 95,808 53,435 Net Change in Defined Benefit Plans 2,446 232 (641 ) 3,143 (136 ) Other Comprehensive Income (Loss) 31,813 22,943 (8,029 ) 98,951 53,299 Comprehensive Income $ 92,748 $ 76,288 $ 31,133 $ 304,853 $ 203,293 Bank of Hawai‘i Corporation and Subsidiaries Consolidated Statements of Condition Table 5 (dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024 Assets Cash and Cash Equivalents $ 946,520 $ 985,223 $ 763,571 Investment Securities Available-for-Sale 3,510,652 3,280,410 2,689,528 Held-to-Maturity (Fair Value of $3,651,966; $3,717,573; and $3,820,882) 4,245,681 4,340,032 4,618,543 Loans Held for Sale 4,369 1,236 2,150 Loans and Leases 14,082,050 14,021,579 14,075,980 Allowance for Credit Losses (146,766 ) (148,778 ) (148,528 ) Net Loans and Leases 13,935,284 13,872,801 13,927,452 Premises and Equipment, Net 199,747 196,093 184,480 Operating Lease Right-of-Use Assets 83,424 82,804 80,165 Accrued Interest Receivable 69,899 69,224 66,367 Mortgage Servicing Rights 17,455 17,927 19,199 Goodwill 31,517 31,517 31,517 Bank-Owned Life Insurance 499,795 494,041 481,184 Other Assets 632,021 643,301 736,958 Total Assets $ 24,176,364 $ 24,014,609 $ 23,601,114 Liabilities Deposits Noninterest-Bearing Demand $ 5,755,371 $ 5,400,943 $ 5,423,562 Interest-Bearing Demand 3,910,952 3,813,921 3,784,984 Savings 8,741,090 8,814,451 8,364,916 Time 2,781,082 3,051,354 3,059,575 Total Deposits 21,188,495 21,080,669 20,633,037 Securities Sold Under Agreements to Repurchase 50,000 50,000 100,000 Other Debt 558,176 558,201 558,274 Operating Lease Liabilities 92,402 91,690 88,794 Retirement Benefits Payable 20,139 23,352 23,760 Accrued Interest Payable 22,370 27,580 34,799 Other Liabilities 393,570 391,934 494,676 Total Liabilities 22,325,152 22,223,426 21,933,340 Shareholders’ Equity Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding) 180,000 180,000 180,000 Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding) 165,000 165,000 165,000 Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: December 31, 2025 - 58,780,253 / 39,725,698; September 30, 2025 - 58,779,666 / 39,785,201; and December 31, 2024 - 58,765,907 / 39,762,255) 587 587 585 Capital Surplus 664,781 659,922 647,403 Accumulated Other Comprehensive Loss (244,438 ) (276,251 ) (343,389 ) Retained Earnings 2,205,707 2,178,263 2,133,838 Treasury Stock, at Cost (Shares: December 31, 2025 - 19,054,555; September 30, 2025 - 18,994,465; and December 31, 2024 - 19,003,609) (1,120,425 ) (1,116,338 ) (1,115,663 ) Total Shareholders’ Equity 1,851,212 1,791,183 1,667,774 Total Liabilities and Shareholders’ Equity $ 24,176,364 $ 24,014,609 $ 23,601,114 Bank of Hawai‘i Corporation and Subsidiaries Consolidated Statements of Shareholders' Equity Table 6 (dollars in thousands, except per share amounts) Preferred Shares Series A Outstanding Preferred Series A Stock Preferred Shares Series B Outstanding Preferred Series B Stock Common Shares Outstanding Common Stock Capital Surplus Accum. Other Comprehensive Income (Loss) Retained Earnings Treasury Stock Total Balance as of December 31, 2024 180,000 $ 180,000 165,000 $ 165,000 39,762,255 $ 585 $ 647,403 $ (343,389 ) $ 2,133,838 $ (1,115,663 ) $ 1,667,774 Net Income – – – – – – – – 205,902 – 205,902 Other Comprehensive Income – – – – – – – 98,951 – – 98,951 Share-Based Compensation – – – – – – 16,243 – – – 16,243 Common Stock Issued Under Purchase and Equity Compensation Plans – – – – 97,556 2 1,135 – – 4,012 5,149 Common Stock Repurchased Under Share Repurchase Program – – – – (76,547 ) – – – – (5,001 ) (5,001 ) Equity Compensation Plan Common Stock Repurchases — — — — (57,566 ) — — — — (3,773 ) (3,773 ) Cash Dividends Declared Common Stock ($2.80 per share) – – – – – – – – (112,956 ) – (112,956 ) Cash Dividends Declared Preferred Stock – – – – – – – – (21,077 ) – (21,077 ) Balance as of December 31, 2025 180,000 $ 180,000 165,000 $ 165,000 39,725,698 $ 587 $ 664,781 $ (244,438 ) $ 2,205,707 $ (1,120,425 ) $ 1,851,212 Balance as of December 31, 2023 180,000 $ 180,000 – $ – 39,753,138 $ 583 $ 636,422 $ (396,688 ) $ 2,107,569 $ (1,113,644 ) $ 1,414,242 Net Income – – – – – – – – 149,994 – 149,994 Other Comprehensive Income – – – – – – – 53,299 – – 53,299 Share-Based Compensation – – – – – – 14,444 – – – 14,444 Preferred Stock Issued, Net – – 165,000 165,000 – – (4,386 ) – – – 160,614 Common Stock Issued Under Purchase and Equity Compensation Plans – – – – 96,394 2 923 – 1,232 3,283 5,440 Equity Compensation Plan Common Stock Repurchases – – – – (87,277 ) – – – – (5,302 ) (5,302 ) Cash Dividends Declared Common Stock ($2.80 per share) – – – – – – – – (112,313 ) – (112,313 ) Cash Dividends Declared Preferred Stock – – – – – – – – (12,644 ) – (12,644 ) Balance as of December 31, 2024 180,000 $ 180,000 165,000 $ 165,000 39,762,255 $ 585 $ 647,403 $ (343,389 ) $ 2,133,838 $ (1,115,663 ) $ 1,667,774 Bank of Hawai‘i Corporation and Subsidiaries Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 7a Three Months Ended December 31, 2025 Three Months Ended September 30, 2025 Three Months Ended December 31, 2024 (dollars in millions) Average Balance Income/Expense 2 Yield/Rate Average Balance Income/Expense 2 Yield/Rate Average Balance Income/Expense 2 Yield/Rate Earning Assets Cash and Cash Equivalents $ 604.5 $ 6.0 3.84 % $ 744.3 $ 8.2 4.31 % $ 784.9 $ 9.4 4.70 % Investment Securities Available-for-Sale Taxable 3,363.4 32.5 3.86 3,157.8 29.3 3.70 2,614.5 23.0 3.50 Non-Taxable 32.0 0.5 5.80 32.4 0.5 5.98 21.5 0.3 6.39 Held-to-Maturity Taxable 4,265.7 18.8 1.76 4,363.9 19.2 1.76 4,636.7 20.5 1.77 Non-Taxable 33.7 0.2 2.10 33.8 0.2 2.10 34.3 0.2 2.10 Total Investment Securities 7,694.8 52.0 2.70 7,587.9 49.2 2.59 7,307.0 44.0 2.41 Loans Held for Sale 2.4 0.0 5.51 1.6 0.0 5.92 4.0 0.1 5.86 Loans and Leases 3 Commercial Mortgage 4,124.5 55.2 5.31 4,016.3 54.3 5.36 3,868.7 52.0 5.34 Commercial and Industrial 1,590.0 19.6 4.90 1,600.7 20.5 5.09 1,697.9 22.1 5.18 Construction 265.5 4.6 6.89 394.4 7.3 7.32 346.6 6.6 7.54 Commercial Lease Financing 89.7 0.9 4.19 93.0 1.0 4.11 82.9 0.7 3.62 Residential Mortgage 4,719.8 47.5 4.03 4,638.1 46.7 4.02 4,621.0 45.3 3.93 Home Equity 2,122.1 24.3 4.54 2,129.6 23.9 4.46 2,181.6 22.5 4.10 Automobile 692.7 9.6 5.49 706.9 9.5 5.35 774.4 9.5 4.90 Other 409.2 7.9 7.64 403.0 7.7 7.63 391.6 7.2 7.29 Total Loans and Leases 14,013.5 169.6 4.81 13,982.0 170.9 4.86 13,964.7 165.9 4.73 Other 82.2 1.2 6.06 65.3 1.1 6.54 65.0 1.1 6.82 Total Earning Assets 22,397.4 228.8 4.07 22,381.1 229.4 4.08 22,125.6 220.5 3.97 Non-Earning Assets 1,561.0 1,613.9 1,556.9 Total Assets $ 23,958.4 $ 23,995.0 $ 23,682.5 Interest-Bearing Liabilities Interest-Bearing Deposits Demand $ 3,697.9 $ 7.3 0.78 % $ 3,781.0 $ 7.8 0.81 % $ 3,655.8 $ 7.8 0.85 % Savings 8,738.2 44.3 2.01 8,831.0 50.6 2.28 8,652.2 52.6 2.42 Time 2,974.0 23.9 3.18 3,057.6 26.2 3.40 3,142.8 31.7 4.02 Total Interest-Bearing Deposits 15,410.1 75.5 1.94 15,669.6 84.6 2.14 15,450.8 92.1 2.37 Securities Sold Under Agreements to Repurchase 50.0 0.5 3.89 50.0 0.5 3.89 100.2 1.0 3.87 Other Debt 558.2 5.9 4.23 558.3 6.0 4.23 558.3 5.9 4.24 Total Interest-Bearing Liabilities 16,018.3 81.9 2.03 16,277.9 91.1 2.22 16,109.3 99.0 2.45 Net Interest Income $ 146.9 $ 138.3 $ 121.5 Interest Rate Spread 2.04 % 1.86 % 1.52 % Net Interest Margin 2.61 % 2.46 % 2.19 % Noninterest-Bearing Demand Deposits 5,570.1 5,398.7 5,305.9 Other Liabilities 556.0 569.8 613.1 Shareholders' Equity 1,814.0 1,748.6 1,654.2 Total Liabilities and Shareholders' Equity $ 23,958.4 $ 23,995.0 $ 23,682.5 Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1.6 million, $1.7 million, and $1.3 million for the three months ended December 31, 2025, September 30, 2025, and December 31, 2024, respectively.Non-performing loans and leases are included in the respective average loan and lease balances. Bank of Hawai‘i Corporation and Subsidiaries Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 7b Twelve Months Ended December 31, 2025 Twelve Months Ended December 31, 2024 (dollars in millions) Average Balance Income/Expense 2 Yield/Rate Average Balance Income/Expense 2 Yield/Rate Earning Assets Cash and Cash Equivalents $ 551.4 $ 23.4 4.24 % $ 594.1 $ 30.7 5.17 % Investment Securities Available-for-Sale Taxable 3,076.5 112.7 3.66 2,433.8 89.3 3.67 Non-Taxable 28.3 1.7 5.83 9.2 0.6 6.05 Held-to-Maturity Taxable 4,409.2 77.8 1.77 4,783.5 84.9 1.78 Non-Taxable 33.9 0.7 2.10 34.5 0.7 2.10 Total Investment Securities 7,547.9 192.9 2.56 7,261.0 175.5 2.42 Loans Held for Sale 2.1 0.2 5.78 2.9 0.2 6.05 Loans and Leases 3 Commercial Mortgage 4,045.5 215.7 5.33 3,763.6 205.9 5.47 Commercial and Industrial 1,640.2 82.5 5.03 1,679.8 89.2 5.31 Construction 341.1 24.6 7.21 333.4 25.6 7.66 Commercial Lease Financing 91.8 3.7 4.05 65.1 1.7 2.68 Residential Mortgage 4,650.5 184.6 3.97 4,614.8 182.4 3.95 Home Equity 2,136.8 94.0 4.40 2,217.5 87.8 3.96 Automobile 720.4 37.9 5.26 803.6 37.0 4.61 Other 400.1 30.2 7.55 391.1 27.4 7.01 Total Loans and Leases 14,026.4 673.2 4.80 13,868.9 657.0 4.74 Other 69.5 4.5 6.47 63.2 4.2 6.66 Total Earning Assets 22,197.3 894.2 4.03 21,790.1 867.6 3.98 Non-Earning Assets 1,601.2 1,572.6 Total Assets $ 23,798.5 $ 23,362.7 Interest-Bearing Liabilities Interest-Bearing Deposits Demand $ 3,739.3 $ 29.7 0.79 % $ 3,745.9 $ 33.2 0.89 % Savings 8,674.1 190.2 2.19 8,362.3 209.7 2.51 Time 3,029.6 104.3 3.44 3,042.3 125.9 4.14 Total Interest-Bearing Deposits 15,443.0 324.2 2.10 15,150.5 368.8 2.43 Securities Sold Under Agreements to Repurchase 56.6 2.2 3.94 118.2 4.6 3.90 Other Debt 563.2 23.9 4.23 560.4 23.8 4.25 Total Interest-Bearing Liabilities 16,062.8 350.3 2.18 15,829.1 397.2 2.51 Net Interest Income $ 543.9 $ 470.4 Interest Rate Spread 1.85 % 1.47 % Net Interest Margin 2.45 % 2.16 % Noninterest-Bearing Demand Deposits 5,412.9 5,385.8 Other Liabilities 586.7 614.6 Shareholders' Equity 1,736.1 1,533.2 Total Liabilities and Shareholders' Equity $ 23,798.5 $ 23,362.7 Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $6.4 million and $3.8 million for the twelve months ended December 31, 2025 and December 31, 2024, respectively.Non-performing loans and leases are included in the respective average loan and lease balances.  Bank of Hawai‘i Corporation and Subsidiaries Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8a Three Months Ended December 31, 2025 Compared to September 30, 2025 (dollars in millions) Volume 1 Rate 1 Total Change in Interest Income: Cash and Cash Equivalents $ (1.4 ) $ (0.9 ) $ (2.3 ) Investment Securities Available-for-Sale Taxable 2.0 1.3 3.3 Non-Taxable (0.1 ) 0.0 (0.1 ) Held-to-Maturity Taxable (0.4 ) 0.0 (0.4 ) Non-Taxable 0.0 0.0 0.0 Total Investment Securities 1.5 1.3 2.8 Loans Held for Sale 0.0 0.1 0.1 Loans and Leases Commercial Mortgage 1.5 (0.6 ) 0.9 Commercial and Industrial (0.1 ) (0.8 ) (0.9 ) Construction (2.3 ) (0.4 ) (2.7 ) Commercial Lease Financing 0.0 0.0 0.0 Residential Mortgage 0.8 0.1 0.9 Home Equity (0.1 ) 0.4 0.3 Automobile (0.2 ) 0.2 0.0 Other 0.1 0.1 0.2 Total Loans and Leases (0.3 ) (1.0 ) (1.3 ) Other 0.5 (0.3 ) 0.2 Total Change in Interest Income 0.3 (0.8 ) (0.5 ) Change in Interest Expense: Interest-Bearing Deposits Demand (0.2 ) (0.3 ) (0.5 ) Savings (0.5 ) (5.8 ) (6.3 ) Time (0.7 ) (1.6 ) (2.3 ) Total Interest-Bearing Deposits (1.4 ) (7.7 ) (9.1 ) Securities Sold Under Agreements to Repurchase — — — Other Debt — — — Total Change in Interest Expense (1.4 ) (7.7 ) (9.1 ) Change in Net Interest Income $ 1.7 $ 6.9 $ 8.6 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 Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8b Three Months Ended December 31, 2025 Compared to December 31, 2024 (dollars in millions) Volume 1 Rate 1 Total Change in Interest Income: Cash and Cash Equivalents $ (2.0 ) $ (1.5 ) $ (3.5 ) Investment Securities Available-for-Sale Taxable 7.1 2.5 9.6 Non-Taxable 0.1 0.0 0.1 Held-to-Maturity Taxable (1.6 ) (0.1 ) (1.7 ) Non-Taxable 0.0 — 0.0 Total Investment Securities 5.6 2.4 8.0 Loans Held for Sale 0.0 0.0 0.0 Loans and Leases Commercial Mortgage 3.6 (0.4 ) 3.2 Commercial and Industrial (1.3 ) (1.1 ) (2.4 ) Construction (1.5 ) (0.5 ) (2.0 ) Commercial Lease Financing 0.1 0.1 0.2 Residential Mortgage 1.0 1.1 2.1 Home Equity (0.6 ) 2.4 1.8 Automobile (1.1 ) 1.1 0.0 Other 0.4 0.4 0.8 Total Loans and Leases 0.6 3.1 3.7 Other 0.6 (0.5 ) 0.1 Total Change in Interest Income 4.8 3.5 8.3 Change in Interest Expense: Interest-Bearing Deposits Demand 0.1 (0.7 ) (0.6 ) Savings 0.5 (8.7 ) (8.2 ) Time (1.6 ) (6.2 ) (7.8 ) Total Interest-Bearing Deposits (1.0 ) (15.6 ) (16.6 ) Securities Sold Under Agreements to Repurchase (0.5 ) 0.0 (0.5 ) Other Debt — 0.0 0.0 Total Change in Interest Expense (1.5 ) (15.6 ) (17.1 ) Change in Net Interest Income $ 6.3 $ 19.1 $ 25.4 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 Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8c Twelve Months Ended December 31, 2025 Compared to December 31, 2024 (dollars in millions) Volume 1 Rate 1 Total Change in Interest Income: Cash and Cash Equivalents $ (2.1 ) $ (5.2 ) $ (7.3 ) Investment Securities Available-for-Sale Taxable 23.6 (0.1 ) 23.5 Non-Taxable 1.1 0.0 1.1 Held-to-Maturity Taxable (6.6 ) (0.5 ) (7.1 ) Non-Taxable (0.1 ) — (0.1 ) Total Investment Securities 18.0 (0.6 ) 17.4 Loans Held for Sale (0.1 ) 0.0 (0.1 ) Loans and Leases Commercial Mortgage 15.1 (5.3 ) 9.8 Commercial and Industrial (2.1 ) (4.6 ) (6.7 ) Construction 0.6 (1.6 ) (1.0 ) Commercial Lease Financing 1.6 0.4 2.0 Residential Mortgage 1.4 0.9 2.3 Home Equity (3.3 ) 9.5 6.2 Automobile (4.0 ) 4.9 0.9 Other 0.6 2.2 2.8 Total Loans and Leases 9.9 6.4 16.3 Other 0.4 (0.1 ) 0.3 Total Change in Interest Income 26.1 0.5 26.6 Change in Interest Expense: Interest-Bearing Deposits Demand (0.1 ) (3.4 ) (3.5 ) Savings 7.6 (27.0 ) (19.4 ) Time (0.5 ) (21.1 ) (21.6 ) Total Interest-Bearing Deposits 7.0 (51.5 ) (44.5 ) Securities Sold Under Agreements to Repurchase (2.4 ) 0.0 (2.4 ) Other Debt 0.1 (0.1 ) 0.0 Total Change in Interest Expense 4.7 (51.6 ) (46.9 ) Change in Net Interest Income $ 21.4 $ 52.1 $ 73.5 The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each. Bank of Hawai‘i Corporation and Subsidiaries Salaries and Benefits Table 9 Three Months Ended Twelve Months Ended (dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Salaries $ 39,915 $ 40,428 $ 38,852 $ 158,229 $ 154,538 Incentive Compensation 4,535 4,280 4,423 19,455 15,708 Share-Based Compensation 4,379 3,979 3,208 15,527 13,667 Retirement and Other Benefits 4,378 3,895 3,456 17,228 15,408 Medical, Dental, and Life Insurance 3,916 3,908 4,965 15,971 14,900 Payroll Taxes 2,740 2,998 2,593 13,502 13,232 Commission Expense 1,670 1,326 1,085 5,172 3,575 Separation Expense 142 2,091 108 3,688 1,536 Total Salaries and Benefits $ 61,675 $ 62,905 $ 58,690 $ 248,772 $ 232,564 Bank of Hawai‘i Corporation and Subsidiaries Loan and Lease Portfolio Balances Table 10 (dollars in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Commercial Commercial Mortgage $ 4,205,791 $ 4,040,711 $ 4,038,956 $ 4,038,287 $ 4,020,622 Commercial and Industrial 1,584,245 1,581,232 1,597,560 1,703,290 1,705,133 Construction 208,584 380,944 374,768 363,716 308,898 Lease Financing 88,303 92,213 92,842 92,456 90,756 Total Commercial 6,086,923 6,095,100 6,104,126 6,197,749 6,125,409 Consumer Residential Mortgage 4,775,502 4,685,214 4,637,014 4,630,876 4,628,283 Home Equity 2,114,809 2,129,599 2,139,025 2,144,955 2,165,514 Automobile 690,376 699,244 715,688 740,390 764,146 Other 414,440 412,422 406,325 401,353 392,628 Total Consumer 7,995,127 7,926,479 7,898,052 7,917,574 7,950,571 Total Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,002,178 $ 14,115,323 $ 14,075,980 Deposits (dollars in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Consumer $ 10,466,617 $ 10,393,932 $ 10,429,271 $ 10,522,627 $ 10,397,777 Commercial 8,597,265 8,348,396 8,243,898 8,411,838 8,299,590 Public and Other 2,124,613 2,338,341 2,125,745 2,073,752 1,935,670 Total Deposits $ 21,188,495 $ 21,080,669 $ 20,798,914 $ 21,008,217 $ 20,633,037 Average Deposits Three Months Ended (dollars in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Consumer $ 10,373,200 $ 10,387,715 $ 10,435,867 $ 10,408,747 $ 10,327,928 Commercial 8,478,592 8,504,078 8,316,893 8,318,182 8,564,213 Public and Other 2,128,407 2,176,493 1,946,933 1,942,610 1,864,541 Total Deposits $ 20,980,199 $ 21,068,286 $ 20,699,693 $ 20,669,539 $ 20,756,682 Bank of Hawai‘i Corporation and Subsidiaries Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More Table 11 (dollars in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Non-Performing Assets Non-Accrual Loans and Leases Commercial Commercial Mortgage $ 2,085 $ 2,498 $ 2,566 $ 2,195 $ 2,450 Commercial and Industrial 1,940 3,506 3,744 3,451 4,627 Total Commercial 4,025 6,004 6,310 5,646 7,077 Consumer Residential Mortgage 5,382 5,628 5,842 4,686 5,052 Home Equity 4,469 5,107 5,387 5,759 4,514 Total Consumer 9,851 10,735 11,229 10,445 9,566 Total Non-Accrual Loans and Leases 13,876 16,739 17,539 16,091 16,643 Foreclosed Real Estate 295 125 342 1,360 2,657 Total Non-Performing Assets $ 14,171 $ 16,864 $ 17,881 $ 17,451 $ 19,300 Accruing Loans and Leases Past Due 90 Days or More Consumer Residential Mortgage $ 8,834 $ 7,456 $ 9,070 $ 3,895 $ 3,984 Home Equity 2,152 2,765 1,867 2,228 2,845 Automobile 520 525 680 486 776 Other 753 578 630 943 677 Total Consumer 12,259 11,324 12,247 7,552 8,282 Total Accruing Loans and Leases Past Due 90 Days or More $ 12,259 $ 11,324 $ 12,247 $ 7,552 $ 8,282 Total Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,002,178 $ 14,115,323 $ 14,075,980 Ratio of Non-Accrual Loans and Leases to Total Loans and Leases 0.10 % 0.12 % 0.13 % 0.11 % 0.12 % Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate 0.10 % 0.12 % 0.13 % 0.12 % 0.14 % Ratio of Non-Performing Assets to Total Assets 0.06 % 0.07 % 0.08 % 0.07 % 0.08 % Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate 0.07 % 0.10 % 0.10 % 0.09 % 0.12 % Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate 0.13 % 0.14 % 0.15 % 0.15 % 0.15 % Ratio of Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More to Total Loans and Leases and Foreclosed Real Estate 0.19 % 0.20 % 0.22 % 0.18 % 0.20 % Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter $ 16,864 $ 17,881 $ 17,451 $ 19,300 $ 19,781 Additions 1 2,608 959 3,522 2,209 2,198 Reductions Payments (2,631 ) (804 ) (1,424 ) (1,212 ) (708 ) Return to Accrual Status (1,217 ) (321 ) (574 ) (244 ) (476 ) Sales of Foreclosed Real Estate (120 ) (216 ) (1,040 ) (1,492 ) - Charge-offs / Write-downs 1 (1,333 ) (635 ) (54 ) (1,110 ) (1,495 ) Total Reductions (5,301 ) (1,976 ) (3,092 ) (4,058 ) (2,679 ) Balance at End of Quarter $ 14,171 $ 16,864 $ 17,881 $ 17,451 $ 19,300 Excludes loans that are fully charged-off and placed on non-accrual status during the same period.  Bank of Hawai‘i Corporation and Subsidiaries Reserve for Credit Losses Table 12 Three Months Ended Twelve Months Ended (dollars in thousands) December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Balance at Beginning of Period $ 150,051 $ 150,128 $ 150,325 $ 150,649 $ 152,429 Loans and Leases Charged-Off Commercial Commercial and Industrial (1,331 ) (171 ) (353 ) (3,107 ) (2,609 ) Consumer Residential Mortgage — — (337 ) — (385 ) Home Equity (165 ) (28 ) (339 ) (423 ) (701 ) Automobile (1,654 ) (1,368 ) (1,548 ) (6,026 ) (5,342 ) Other (2,192 ) (2,392 ) (2,637 ) (9,465 ) (10,099 ) Total Loans and Leases Charged-Off (5,342 ) (3,959 ) (5,214 ) (19,021 ) (19,136 ) Recoveries on Loans and Leases Previously Charged-Off Commercial Commercial and Industrial 92 98 387 345 832 Consumer Residential Mortgage 11 58 150 91 303 Home Equity 88 177 177 573 792 Automobile 517 559 609 2,266 2,168 Other 486 490 465 2,000 2,111 Total Recoveries on Loans and Leases Previously Charged-Off 1,194 1,382 1,788 5,275 6,206 Net Charged-Off - Loans and Leases (4,148 ) (2,577 ) (3,426 ) (13,746 ) (12,930 ) Provision for Credit Losses: Loans and Leases 2,136 2,812 4,623 11,984 15,055 Unfunded Commitments 364 (312 ) (873 ) (484 ) (3,905 ) Total Provision for Credit Losses 2,500 2,500 3,750 11,500 11,150 Balance at End of Period $ 148,403 $ 150,051 $ 150,649 $ 148,403 $ 150,649 Components Allowance for Credit Losses - Loans and Leases $ 146,766 $ 148,778 $ 148,528 $ 146,766 $ 148,528 Reserve for Unfunded Commitments 1,637 1,273 2,121 1,637 2,121 Total Reserve for Credit Losses $ 148,403 $ 150,051 $ 150,649 $ 148,403 $ 150,649 Average Loans and Leases Outstanding $ 14,013,532 $ 13,982,003 $ 13,964,687 $ 14,026,427 $ 13,868,916 Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized) 0.12 % 0.07 % 0.10 % 0.10 % 0.09 % Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1 1.04 % 1.06 % 1.06 % 1.04 % 1.06 % The numerator comprises the Allowance for Credit Losses - Loans and Leases.  Bank of Hawai‘i Corporation and Subsidiaries Business Segments Selected Financial Information Table 13 (dollars in thousands) Consumer Banking Commercial Banking Treasury and Other Consolidated Total Three Months Ended December 31, 2025 Net Interest Income (Expense) $ 97,044 $ 56,365 $ (8,035 ) $ 145,374 Provision for (Recapture of) Credit Losses 3,059 1,088 (1,647 ) 2,500 Net Interest Income (Expense) After Provision for Credit Losses 93,985 55,277 (6,388 ) 142,874 Noninterest Income 34,574 23,638 (13,941 ) 44,271 Salaries and Benefits 21,318 4,434 35,923 61,675 Net Occupancy 6,977 395 2,657 10,029 Other Noninterest Expense 61,042 11,156 (34,384 ) 37,814 Noninterest Expense 89,337 15,985 4,196 109,518 Income (Loss) Before Provision for Income Taxes 39,222 62,930 (24,525 ) 77,627 Provision (Benefit) for Income Taxes 9,929 16,284 (9,521 ) 16,692 Net Income (Loss) $ 29,293 $ 46,646 $ (15,004 ) $ 60,935 Total Assets as of December 31, 2025 $ 8,337,939 $ 6,125,727 $ 9,712,698 $ 24,176,364 Three Months Ended December 31, 2024 ¹ Net Interest Income (Expense) $ 98,019 $ 53,516 $ (31,357 ) $ 120,178 Provision for (Recapture of) Credit Losses 3,751 (326 ) 325 3,750 Net Interest Income (Expense) After Provision for Credit Losses 94,268 53,842 (31,682 ) 116,428 Noninterest Income 34,800 7,490 757 43,047 Salaries and Benefits 19,984 4,799 33,907 58,690 Net Occupancy 7,074 474 2,715 10,263 Other Noninterest Expense 58,458 13,601 (33,081 ) 38,978 Noninterest Expense 85,516 18,874 3,541 107,931 Income (Loss) Before Provision for Income Taxes 43,552 42,458 (34,466 ) 51,544 Provision (Benefit) for Income Taxes 11,136 10,819 (9,573 ) 12,382 Net Income (Loss) $ 32,416 $ 31,639 $ (24,893 ) $ 39,162 Total Assets as of December 31, 2024 $ 8,288,997 $ 6,145,162 $ 9,166,955 $ 23,601,114 Twelve Months Ended December 31, 2025 Net Interest Income (Expense) $ 383,955 $ 220,084 $ (66,500 ) $ 537,539 Provision for (Recapture of) Credit Losses 11,551 2,194 (2,245 ) 11,500 Net Interest Income (Expense) After Provision for Credit Losses 372,404 217,890 (64,255 ) 526,039 Noninterest Income 135,923 47,086 (3,919 ) 179,090 Salaries and Benefits 84,773 19,834 144,165 248,772 Net Occupancy 28,578 1,593 11,848 42,019 Other Noninterest Expense 236,285 52,332 (136,261 ) 152,356 Noninterest Expense 349,636 73,759 19,752 443,147 Income (Loss) Before Provision for Income Taxes 158,691 191,217 (87,926 ) 261,982 Provision (Benefit) for Income Taxes 40,291 49,097 (33,308 ) 56,080 Net Income (Loss) $ 118,400 $ 142,120 $ (54,618 ) $ 205,902 Total Assets as of December 31, 2025 $ 8,337,939 $ 6,125,727 $ 9,712,698 $ 24,176,364 Twelve Months Ended December 31, 2024 ¹ Net Interest Income (Expense) $ 391,137 $ 206,450 $ (131,007 ) $ 466,580 Provision for (Recapture of) Credit Losses 11,969 913 (1,732 ) 11,150 Net Interest Income (Expense) After Provision for Credit Losses 379,168 205,537 (129,275 ) 455,430 Noninterest Income 134,568 28,768 9,193 172,529 Salaries and Benefits 81,477 20,436 130,651 232,564 Net Occupancy 27,551 1,816 12,717 42,084 Other Noninterest Expense 230,916 52,100 (127,556 ) 155,460 Noninterest Expense 339,944 74,352 15,812 430,108 Income (Loss) Before Provision for Income Taxes 173,792 159,953 (135,894 ) 197,851 Provision (Benefit) for Income Taxes 44,290 40,530 (36,963 ) 47,857 Net Income (Loss) $ 129,502 $ 119,423 $ (98,931 ) $ 149,994 Total Assets as of December 31, 2024 $ 8,288,997 $ 6,145,162 $ 9,166,955 $ 23,601,114 Certain prior period information has been reclassified to conform to current presentation. Bank of Hawai‘i Corporation and Subsidiaries Selected Quarterly Financial Data Table 14 Three Months Ended (dollars in thousands, except per share amounts) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Quarterly Operating Results Interest Income Interest and Fees on Loans and Leases $ 168,234 $ 169,411 $ 166,779 $ 163,082 $ 164,785 Income on Investment Securities Available-for-Sale 32,950 29,702 27,007 24,368 23,223 Held-to-Maturity 18,929 19,332 19,835 20,291 20,677 Cash and Cash Equivalents 5,936 8,195 3,817 5,460 9,425 Other 1,245 1,068 1,097 1,085 1,107 Total Interest Income 227,294 227,708 218,535 214,286 219,217 Interest Expense Deposits 75,477 84,590 82,476 81,692 92,099 Securities Sold Under Agreements to Repurchase 496 496 491 744 992 Other Debt 5,947 5,947 5,885 6,043 5,948 Total Interest Expense 81,920 91,033 88,852 88,479 99,039 Net Interest Income 145,374 136,675 129,683 125,807 120,178 Provision for Credit Losses 2,500 2,500 3,250 3,250 3,750 Net Interest Income After Provision for Credit Losses 142,874 134,175 126,433 122,557 116,428 Noninterest Income Trust and Asset Management 12,883 12,598 12,097 11,741 12,157 Fees, Exchange, and Other Service Charges 12,298 15,219 14,383 14,437 14,399 Service Charges on Deposit Accounts 8,694 8,510 8,119 8,259 8,678 Bank-Owned Life Insurance 3,758 3,681 3,714 3,611 3,283 Annuity and Insurance 1,124 1,095 1,437 1,555 1,347 Mortgage Banking 917 906 849 988 942 Investment Securities Losses, Net (18,717 ) (1,945 ) (1,126 ) (1,607 ) (3,306 ) Other 23,314 5,902 5,322 5,074 5,547 Total Noninterest Income 44,271 45,966 44,795 44,058 43,047 Noninterest Expense Salaries and Benefits 61,675 62,905 61,308 62,884 58,690 Net Equipment 10,047 10,285 9,977 10,192 10,308 Net Occupancy 10,029 10,932 10,499 10,559 10,263 Data Processing 5,659 5,603 5,456 5,267 5,313 Professional Fees 3,682 4,022 4,263 4,264 4,988 FDIC Insurance 2,378 3,508 3,640 1,642 3,711 Other 16,048 15,132 15,640 15,651 14,658 Total Noninterest Expense 109,518 112,387 110,783 110,459 107,931 Income Before Provision for Income Taxes 77,627 67,754 60,445 56,156 51,544 Provision for Income Taxes 16,692 14,409 12,808 12,171 12,382 Net Income $ 60,935 $ 53,345 $ 47,637 $ 43,985 $ 39,162 Preferred Stock Dividends 5,269 5,269 5,269 5,269 5,269 Net Income Available to Common Shareholders $ 55,666 $ 48,076 $ 42,368 $ 38,716 $ 33,893 Basic Earnings Per Common Share $ 1.40 $ 1.21 $ 1.07 $ 0.98 $ 0.86 Diluted Earnings Per Common Share $ 1.39 $ 1.20 $ 1.06 $ 0.97 $ 0.85 Balance Sheet Totals Loans and Leases $ 14,082,050 $ 14,021,579 $ 14,002,178 $ 14,115,323 $ 14,075,980 Total Assets 24,176,364 24,014,609 23,709,752 23,885,056 23,601,114 Total Deposits 21,188,495 21,080,669 20,798,914 21,008,217 20,633,037 Total Shareholders' Equity 1,851,212 1,791,183 1,743,107 1,704,935 1,667,774 Performance Ratios Return on Average Assets 1.01 % 0.88 % 0.81 % 0.75 % 0.66 % Return on Average Shareholders' Equity 13.33 12.10 11.21 10.65 9.42 Return on Average Common Equity 15.03 13.59 12.50 11.80 10.30 Efficiency Ratio 1 57.75 61.53 63.49 65.03 66.12 Net Interest Margin 2 2.61 2.46 2.39 2.32 2.19 Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets. Bank of Hawai‘i Corporation and Subsidiaries Hawaii Economic Trends Table 15 Nine Months Ended Year Ended (dollars in millions, jobs in thousands, 1-year percentage change) September 30, 2025 1 December 31, 2024 December 31, 2023 Hawaii Economic Trends State General Fund Revenues 2 $ 7,240.5 (7.1 )% $ 10,124.9 6.5 % $ 9,504.1 0.7 % General Excise and Use Tax Revenue 2 3,614.4 4.7 4,495.0 0.5 4,474.1 4.9 Jobs 3 669.8 661.6 657.7 November 30, December 31, 2025 2024 2023 Unemployment, seasonally adjusted 3 Statewide 2.2 % 3.0 % 3.0 % Honolulu County 2.1 2.9 2.5 Hawaii County 2.6 3.4 2.9 Maui County 2.7 3.7 5.8 Kauai County 2.0 3.0 2.5 December 31, (1-year percentage change, except months of inventory) 2025 2024 2023 2022 Housing Trends (Single Family Oahu) 4 Median Home Price 3.5 % 4.8 % (5.0 )% 11.6 % Home Sales Volume (units) 3.5 % 9.1 % (26.3 )% (23.2 )% Months of Inventory 2.6 2.9 2.8 2.1 (in thousands, except percentage change) Monthly Visitor Arrivals, Not Seasonally Adjusted Percentage Change from Previous Year Tourism 5 November 30, 2025 728.1 (3.7 )% October 31, 2025 727.2 (1.2 ) September 30, 2025 674.9 (2.2 ) August 31, 2025 806.8 (2.6 ) July 31, 2025 870.8 (4.6 ) June 30, 2025 855.7 (1.9 ) May 31, 2025 766.4 1.1 April 30, 2025 810.3 9.4 March 31, 2025 890.0 2.8 February 28, 2025 739.7 (1.7 ) January 31, 2025 773.1 3.7 December 31, 2024 892.0 5.3 November 30, 2024 755.8 4.8 October 31, 2024 736.1 5.1 September 30, 2024 690.2 6.5 August 31, 2024 828.3 8.1 July 31, 2024 912.8 (1.9 ) June 30, 2024 872.6 (1.5 ) May 31, 2024 757.8 (4.1 ) April 30, 2024 740.7 (8.1 ) March 31, 2024 865.8 (3.0 ) February 29, 2024 752.7 2.6 January 31, 2024 745.6 (3.8 ) December 31, 2023 847.3 (1.3 ) Based on the latest complete available dataSource: Hawaii Department of Business, Economic Development & TourismSource: U.S. Bureau of Labor StatisticsSource: Honolulu Board of RealtorsSource: Hawaii Tourism Authority View source version on businesswire.com: https://www.businesswire.com/news/home/20260126613394/en/ Media Inquiries Melissa Torres-Laing Email: [email protected] Phone: 808-694-8384 Mobile: 808-859-1703 Investor/Analyst Inquiries Chang Park Email: [email protected] Phone: 808-694-8238 Patricia Lam Email: [email protected] Phone: 808-694-8575 Source: Bank of Hawai‘i Corporation