Bank of Hawai‘i Corporation Third Quarter 2026 Financial Results

Diluted Earnings Per Common Share of $1.49 Net Income of $64.3 Million Net Interest Margin Increased to 2.82% Share Repurchases of $20.2 Million Share Repurchase Program Increased by $200 Million HONOLULU--(BUSINESS WIRE)--Oct. 26, 2026-- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $1.49 for the third quarter of 2026, compared with $1.47 during the linked quarter. Net income for the quarter was $64.3 million, up 0.7% from the linked quarter. The return on average common equity for the third quarter of 2026 was 15.38% compared with 15.47% during the linked quarter. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261026685229/en/ “Bank of Hawai‘i delivered another quarter of solid performance, supported by continued expense discipline,” said Jim Polk, President and CEO. “Net interest margin expanded for the tenth consecutive quarter, reflecting the ongoing benefit of asset repricing and the positive impact of deposit repricing actions. Loan balances increased from the prior quarter, our funding profile remained resilient, and credit quality stayed healthy. We remain focused on enhancing earnings while maintaining the financial strength and resilience that differentiate our franchise.” Financial Highlights Net interest income for the third quarter of 2026 was $156.1 million, an increase of 1.6% from the linked quarter. The increase was primarily driven by a 5-basis point increase in earning asset yield as fixed-rate assets rolled off and were reinvested at higher rates (fixed asset repricing). The benefits were partially offset by a shift from noninterest-bearing deposits and interest-bearing deposits yielding less than 10 basis points to higher yielding interest-bearing deposits accounts (deposit mix shift). Net interest margin was 2.82% in the third quarter of 2026, an increase of 4 basis points from the linked quarter, reflecting the same asset yield and deposit cost dynamics as previously mentioned. The average yield on total earning assets was 4.13% and the average yield on loans and leases was 4.82% in the third quarter of 2026, up 5 basis points and 3 basis points, respectively, from the linked quarter. The increase in loan yield from the linked quarter was primarily driven by fixed asset repricing and additional loan production at higher current rates. Loan originations, including floating rate loans, during the quarter were originated at a weighted average rate of 5.89%. The average quarterly rate of interest-bearing deposits was 1.72% and the average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.27%, down 1 basis point and unchanged, respectively, from the linked quarter. Noninterest income was $42.7 million in the third quarter of 2026, a decrease of 1.4% from the linked quarter. Noninterest income included a $0.6 million and a $0.4 million charge related to a Visa Class B share conversion ratio change in the third quarter of 2026 and linked quarter, respectively. Adjusted for these items, noninterest income for the third quarter of 2026 was down 0.9% from the linked quarter. The decrease was primarily due to lower gains on leased asset sales and seasonally higher trust-related tax services revenue in the linked quarter, partially offset by stronger deposit fees. Noninterest expense was $112.3 million in the third quarter of 2026, an increase of 1.0% from the linked quarter. Noninterest expense in the linked quarter included a $0.5 million net benefit related to the forfeiture of restricted stock awards. Adjusted for this item, noninterest expense for the third quarter of 2026 increased by 0.5% from the linked quarter. The increase was primarily due to higher net equipment and net occupancy expenses. The effective tax rate for the third quarter of 2026 was 23.24% compared to 22.31% during the linked quarter. The higher effective tax rate in the current quarter as compared to the linked quarter was primarily due to an increase in valuation allowance related to low-income housing investments. Asset Quality The Company’s overall asset quality remained stable during the third quarter of 2026. Provision for credit losses for the third quarter of 2026 was $2.8 million, down $0.9 million from the linked quarter. Total non-performing assets were $43.4 million at September 30, 2026, up $31.9 million from June 30, 2026. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.30% at the end of the quarter, an increase of 22 basis points from the linked quarter. The increase was primarily due to a single commercial mortgage being placed on non-accrual status in the third quarter of 2026 due to borrower specific circumstances on this particular loan and is not believed to represent broader credit deterioration in the loan portfolio. Net loan and lease charge-offs during the third quarter of 2026 were $3.3 million or 9 basis points annualized of total average loans and leases outstanding. Gross charge-offs of $4.7 million were partially offset by gross recoveries of $1.4 million. Compared to the linked quarter, net loan and lease charge-offs decreased by $0.1 million or 1 basis point annualized on total average loans and leases outstanding. The allowance for credit losses on loans and leases was $146.2 million at September 30, 2026, a decrease of $0.8 million from June 30, 2026. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.02% at the end of the quarter, a decrease of 1 basis point from June 30, 2026. Balance Sheet Total assets were $23.8 billion at September 30, 2026, a decrease of 1.5% from December 31, 2025. The decrease from December 31, 2025 was primarily due to decreases in cash and cash equivalents and held-to-maturity securities, partially offset by increases in loans and leases. The investment securities portfolio was $7.5 billion at September 30, 2026, a decrease of 3.3% from December 31, 2025. The decrease was primarily due to portfolio runoff, including maturities and paydowns, a decline in the fair value of our available-for-sale investment portfolio, partially offset by purchases of available-for-sale securities. 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 $14.4 billion at September 30, 2026, an increase of 2.1% from December 31, 2025. Total commercial loans were $6.3 billion at September 30, 2026, an increase of 3.8% from December 31, 2025. The increase was primarily due to commercial mortgage and commercial and industrial production. Total consumer loans were $8.1 billion at September 30, 2026, an increase of 0.7% from December 31, 2025. Both commercial and consumer loan originations during the period were partially offset by amortization and paydowns. Total deposits were $20.5 billion at September 30, 2026, a decrease of 3.3% from December 31, 2025. The decrease was primarily driven by the strategic runoff of public funds and lower commercial deposit balances. Noninterest-bearing deposits made up 26.5% of total deposit balances at September 30, 2026, down from 27.2% at December 31, 2025. Average total deposits were $20.7 billion for the third quarter of 2026, down 1.5% from December 31, 2025, primarily reflecting lower commercial deposit balances during the period. Capital and Dividends The Company’s capital levels remain well above regulatory well-capitalized minimums. The Tier 1 Capital Ratio was 14.41% at September 30, 2026 compared with 14.49% at December 31, 2025. The decrease from December 31, 2025 was due to an increase in risk-weighted assets and share repurchases, as discussed below, partially offset by an increase in retained earnings. The Tier 1 Leverage Ratio was 8.79% at September 30, 2026, compared with 8.57% at December 31, 2025. The increase from December 31, 2025 was due to a decline in average assets and an increase in retained earnings. The Company repurchased 256 thousand shares of common stock at a total cost of $20.2 million under the share repurchase program in the third quarter of 2026. Total remaining buyback authority under the share repurchase program was $68.7 million at September 30, 2026. Subsequent to quarter end, the Board of Directors increased the authorization under the share repurchase program by $200 million to $268.7 million. The Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company’s outstanding common shares. The dividend will be payable on December 14, 2026 to shareholders of record at the close of business on November 30, 2026. On October 2, 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 November 2, 2026 to shareholders of record of the preferred stock as of the close of business on October 16, 2026. Conference Call Information The Company will review its third quarter financial results today at 8:00 a.m. Hawai‘i Time (2:00 p.m. Eastern Time). The live call, including a slide presentation, will be accessible on the investor relations link of Bank of Hawai‘i Corporation's website, www.boh.com. The conference call can be accessed via the link: https://register-conf.media-server.com/register/BIca3756a1006c4dff84049e53b338c6cf. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, October 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, 2025, which was 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 1a Three Months Ended Nine Months Ended (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 For the Period: Operating Results Net Interest Income $ 156,054 $ 153,604 $ 136,675 $ 460,648 $ 392,165 Provision for Credit Losses 2,750 3,600 2,500 8,100 9,000 Total Noninterest Income 42,706 43,299 45,966 127,337 134,819 Total Noninterest Expense 112,304 111,186 112,387 339,561 333,629 Pre-Provision Net Revenue 86,456 85,717 70,254 248,424 193,355 Net Income 64,258 63,799 53,345 185,489 144,967 Net Income Available to Common Shareholders 58,989 58,530 48,076 169,681 129,159 Basic Earnings Per Common Share 1.50 1.48 1.21 4.30 3.26 Diluted Earnings Per Common Share 1.49 1.47 1.20 4.27 3.24 Dividends Declared Per Common Share 0.70 0.70 0.70 2.10 2.10 Performance Ratios Return on Average Assets 1.07 % 1.07 % 0.88 % 1.04 % 0.82 % Return on Average Shareholders' Equity 13.66 13.74 12.10 13.30 11.34 Return on Average Common Equity 15.38 15.47 13.59 14.92 12.65 Efficiency Ratio 1 56.50 56.47 61.53 57.75 63.31 Net Interest Margin 2 2.82 2.78 2.46 2.78 2.39 Dividend Payout Ratio 3 46.67 47.30 57.85 48.84 64.42 Average Shareholders' Equity to Average Assets 7.85 7.81 7.29 7.82 7.20 Average Balances Average Loans and Leases $ 14,305,379 $ 14,218,951 $ 13,982,003 $ 14,203,547 $ 14,030,773 Average Assets 23,768,568 23,861,848 23,995,037 23,848,046 23,744,661 Average Deposits 20,662,379 20,826,923 21,068,286 20,800,655 20,813,967 Average Shareholders' Equity 1,866,297 1,862,499 1,748,576 1,865,317 1,709,788 Per Share of Common Stock Book Value $ 37.77 $ 38.81 $ 36.35 $ 37.77 $ 36.35 Tangible Book Value 36.97 38.01 35.56 36.97 35.56 Market Value Closing 68.92 81.49 65.64 68.92 65.64 High 86.31 83.18 71.90 86.31 76.00 Low 68.51 70.07 60.32 67.04 57.45 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. Bank of Hawai‘i Corporation and Subsidiaries Financial Highlights Table 1b (dollars in thousands) September 30 2026 June 30 2026 December 31 2025 September 30 2025 As of Period End: Balance Sheet Totals Loans and Leases $ 14,371,336 $ 14,286,625 $ 14,082,050 $ 14,021,579 Total Assets 23,819,536 23,842,940 24,176,364 24,014,609 Total Deposits 20,481,558 20,892,775 21,188,495 21,080,669 Other Debt 853,098 508,124 558,176 558,201 Total Shareholders' Equity 1,826,076 1,875,467 1,851,212 1,791,183 Asset Quality Non-Performing Assets $ 43,412 $ 11,478 $ 14,171 $ 16,864 Allowance for Credit Losses - Loans and Leases 146,170 146,995 146,766 148,778 Allowance to Loans and Leases Outstanding 1 1.02 % 1.03 % 1.04 % 1.06 % Capital Ratios 2 Common Equity Tier 1 Capital Ratio 3 12.10 % 12.12 % 12.14 % 11.98 % Tier 1 Capital Ratio 14.41 14.45 14.49 14.34 Total Capital Ratio 15.43 15.48 15.54 15.40 Tier 1 Leverage Ratio 8.79 8.70 8.57 8.44 Total Shareholders' Equity to Total Assets 7.67 7.87 7.66 7.46 Tangible Common Equity to Tangible Assets 4 6.09 6.30 6.11 5.90 Tangible Common Equity to Risk-Weighted Assets 4 9.94 10.38 10.35 9.95 Non-Financial Data Full-Time Equivalent Employees 5 1,865 1,910 1,877 1,905 Branches 52 52 51 51 ATMs 308 315 320 322 1 The numerator comprises the Allowance for Credit Losses - Loans and Leases. 2 Regulatory capital ratios as of September 30, 2026 are preliminary. 3 Capital ratio as of December 31, 2025 has been updated to reflect final reported ratio. 4 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 8 “Reconciliation of Non-GAAP Financial Measures”. 5 Full-time equivalent employees as of June 30, 2026 includes summer interns. Bank of Hawai‘i Corporation and Subsidiaries Consolidated Statements of Income Table 2 Three Months Ended Nine Months Ended (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Interest Income Interest and Fees on Loans and Leases $ 172,271 $ 168,624 $ 169,411 $ 505,364 $ 499,272 Income on Investment Securities Available-for-Sale 36,313 36,397 29,702 107,285 81,077 Held-to-Maturity 17,460 18,056 19,332 54,057 59,458 Cash and Cash Equivalents 1,674 1,726 8,195 6,729 17,472 Other 1,431 1,313 1,068 4,037 3,250 Total Interest Income 229,149 226,116 227,708 677,472 660,529 Interest Expense Deposits 65,950 65,804 84,590 196,640 248,758 Securities Sold Under Agreements to Repurchase 496 491 496 1,473 1,731 Other Debt 6,649 6,217 5,947 18,711 17,875 Total Interest Expense 73,095 72,512 91,033 216,824 268,364 Net Interest Income 156,054 153,604 136,675 460,648 392,165 Provision for Credit Losses 2,750 3,600 2,500 8,100 9,000 Net Interest Income After Provision for Credit Losses 153,304 150,004 134,175 452,548 383,165 Noninterest Income Trust and Asset Management 13,420 13,712 12,598 39,577 36,436 Fees, Exchange, and Other Service Charges 10,839 11,127 15,219 32,894 44,039 Service Charges on Deposit Accounts 9,052 8,353 8,510 25,845 24,888 Bank-Owned Life Insurance 3,877 3,923 3,681 11,947 11,006 Annuity and Insurance 2,117 2,017 1,095 5,603 4,087 Mortgage Banking 906 839 906 2,621 2,743 Investment Securities Losses, Net (1,493 ) (1,287 ) (1,945 ) (4,052 ) (4,678 ) Other 3,988 4,615 5,902 12,902 16,298 Total Noninterest Income 42,706 43,299 45,966 127,337 134,819 Noninterest Expense Salaries and Benefits 62,308 62,642 62,905 193,407 187,097 Net Equipment 11,307 10,604 10,285 32,522 30,454 Net Occupancy 11,197 10,868 10,932 32,847 31,990 Professional Fees 5,571 5,276 4,022 15,073 12,549 Data Processing 5,474 5,463 5,603 16,518 16,326 FDIC Insurance 3,004 2,978 3,508 8,701 8,790 Other 13,443 13,355 15,132 40,493 46,423 Total Noninterest Expense 112,304 111,186 112,387 339,561 333,629 Income Before Provision for Income Taxes 83,706 82,117 67,754 240,324 184,355 Provision for Income Taxes 19,448 18,318 14,409 54,835 39,388 Net Income $ 64,258 $ 63,799 $ 53,345 $ 185,489 $ 144,967 Preferred Stock Dividends 5,269 5,269 5,269 15,808 15,808 Net Income Available to Common Shareholders $ 58,989 $ 58,530 $ 48,076 $ 169,681 $ 129,159 Basic Earnings Per Common Share $ 1.50 $ 1.48 $ 1.21 $ 4.30 $ 3.26 Diluted Earnings Per Common Share $ 1.49 $ 1.47 $ 1.20 $ 4.27 $ 3.24 Dividends Declared Per Common Share $ 0.70 $ 0.70 $ 0.70 $ 2.10 $ 2.10 Basic Weighted Average Common Shares 39,316,506 39,513,447 39,655,741 39,464,588 39,611,372 Diluted Weighted Average Common Shares 39,553,225 39,734,782 39,980,931 39,732,180 39,919,998 Bank of Hawai‘i Corporation and Subsidiaries Consolidated Statements of Condition Table 3 (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 December 31, 2025 September 30, 2025 Assets Cash and Cash Equivalents $ 442,032 $ 452,814 $ 946,520 $ 985,223 Investment Securities Available-for-Sale 3,523,442 3,618,515 3,510,652 3,280,410 Held-to-Maturity (Fair Value of $3,201,942; $3,452,980; $3,651,966; and $3,717,573) 3,974,033 4,070,908 4,245,681 4,340,032 Loans Held for Sale 3,971 5,089 4,369 1,236 Loans and Leases 14,371,336 14,286,625 14,082,050 14,021,579 Allowance for Credit Losses (146,170 ) (146,995 ) (146,766 ) (148,778 ) Net Loans and Leases 14,225,166 14,139,630 13,935,284 13,872,801 Premises and Equipment, Net 224,276 223,463 199,747 196,093 Operating Lease Right-of-Use Assets 87,449 84,519 83,424 82,804 Accrued Interest Receivable 71,749 70,646 69,899 69,224 Mortgage Servicing Rights 16,244 16,626 17,455 17,927 Goodwill 31,517 31,517 31,517 31,517 Bank-Owned Life Insurance 511,349 508,869 499,795 494,041 Other Assets 708,308 620,344 632,021 643,301 Total Assets $ 23,819,536 $ 23,842,940 $ 24,176,364 $ 24,014,609 Liabilities Deposits Noninterest-Bearing Demand $ 5,429,216 $ 5,575,291 $ 5,755,371 $ 5,400,943 Interest-Bearing Demand 3,739,272 4,075,694 3,910,952 3,813,921 Savings 8,595,032 8,705,102 8,741,090 8,814,451 Time 2,718,038 2,536,688 2,781,082 3,051,354 Total Deposits 20,481,558 20,892,775 21,188,495 21,080,669 Securities Sold Under Agreements to Repurchase 50,000 50,000 50,000 50,000 Other Debt 853,098 508,124 558,176 558,201 Operating Lease Liabilities 96,499 93,568 92,402 91,690 Retirement Benefits Payable 25,236 25,496 20,139 23,352 Accrued Interest Payable 16,675 16,390 22,370 27,580 Other Liabilities 470,394 381,120 393,570 391,934 Total Liabilities 21,993,460 21,967,473 22,325,152 22,223,426 Shareholders’ Equity Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding) 180,000 180,000 180,000 180,000 Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding) 165,000 165,000 165,000 165,000 Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: September 30, 2026 - 59,035,722 / 39,209,600; June 30, 2026 - 59,020,336 / 39,439,677; December 31, 2025 - 58,780,253 / 39,725,698 and September 30, 2025 - 58,779,666 / 39,785,201) 590 590 587 587 Capital Surplus 679,084 675,654 664,781 659,922 Accumulated Other Comprehensive Loss (307,653 ) (243,475 ) (244,438 ) (276,251 ) Retained Earnings 2,291,275 2,260,152 2,205,707 2,178,263 Treasury Stock, at Cost (Shares: September 30, 2026 - 19,826,122; June 30, 2026 - 19,580,659; December 31, 2025 - 19,054,555; and September 30, 2025 - 18,994,465) (1,182,220 ) (1,162,454 ) (1,120,425 ) (1,116,338 ) Total Shareholders’ Equity 1,826,076 1,875,467 1,851,212 1,791,183 Total Liabilities and Shareholders’ Equity $ 23,819,536 $ 23,842,940 $ 24,176,364 $ 24,014,609 Bank of Hawai‘i Corporation and Subsidiaries Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 4a Three Months Ended September 30, 2026 Three Months Ended June 30, 2026 Three Months Ended September 30, 2025 (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 $ 187.7 $ 1.7 3.49 % $ 196.2 $ 1.7 3.48 % $ 744.3 $ 8.2 4.31 % Investment Securities Available-for-Sale Taxable 3,602.0 36.0 3.99 3,669.5 36.1 3.93 3,157.8 29.3 3.70 Non-Taxable 31.6 0.4 5.14 31.7 0.4 5.08 32.4 0.5 5.98 Held-to-Maturity Taxable 3,995.2 17.3 1.74 4,091.6 17.9 1.75 4,363.9 19.2 1.76 Non-Taxable 32.9 0.2 1.92 33.4 0.2 2.10 33.8 0.2 2.10 Total Investment Securities 7,661.7 53.9 2.81 7,826.2 54.6 2.79 7,587.9 49.2 2.59 Loans Held for Sale 2.9 0.0 5.83 2.7 0.0 6.20 1.6 0.0 5.92 Loans and Leases 3 Commercial Mortgage 4,393.9 57.1 5.15 4,314.9 55.7 5.17 4,016.3 54.3 5.36 Commercial and Industrial 1,656.2 20.6 4.92 1,624.6 19.5 4.83 1,600.7 20.5 5.09 Construction 145.7 2.2 6.09 209.7 3.3 6.30 394.4 7.3 7.32 Commercial Lease Financing 83.6 0.9 4.47 84.6 0.9 4.26 93.0 1.0 4.11 Residential Mortgage 4,854.9 50.2 4.13 4,812.6 48.9 4.06 4,638.1 46.7 4.02 Home Equity 2,080.5 24.5 4.68 2,085.3 24.1 4.63 2,129.6 23.9 4.46 Automobile 670.9 9.7 5.75 677.4 9.5 5.65 706.9 9.5 5.35 Other 419.7 8.2 7.78 409.9 7.9 7.74 403.0 7.7 7.63 Total Loans and Leases 14,305.4 173.4 4.82 14,219.0 169.8 4.79 13,982.0 170.9 4.86 Other 83.7 1.5 6.85 82.8 1.4 6.34 65.3 1.1 6.54 Total Earning Assets 22,241.4 230.5 4.13 22,326.9 227.5 4.08 22,381.1 229.4 4.08 Non-Earning Assets 1,527.2 1,534.9 1,613.9 Total Assets $ 23,768.6 $ 23,861.8 $ 23,995.0 Interest-Bearing Liabilities Interest-Bearing Deposits Demand $ 3,836.6 $ 7.1 0.73 % $ 3,781.7 $ 7.4 0.78 % $ 3,781.0 $ 7.8 0.81 % Savings 8,798.7 41.5 1.87 8,750.0 39.9 1.83 8,831.0 50.6 2.28 Time 2,555.8 17.3 2.69 2,707.6 18.5 2.75 3,057.6 26.2 3.40 Total Interest-Bearing Deposits 15,191.1 65.9 1.72 15,239.3 65.8 1.73 15,669.6 84.6 2.14 Securities Sold Under Agreements to Repurchase 50.0 0.5 3.89 50.0 0.5 3.88 50.0 0.5 3.89 Other Debt 627.8 6.7 4.19 593.3 6.2 4.20 558.3 6.0 4.23 Total Interest-Bearing Liabilities 15,868.9 73.1 1.83 15,882.6 72.5 1.83 16,277.9 91.1 2.22 Net Interest Income $ 157.4 $ 155.0 $ 138.3 Interest Rate Spread 2.30 % 2.25 % 1.86 % Net Interest Margin 2.82 % 2.78 % 2.46 % Noninterest-Bearing Demand Deposits 5,471.3 5,587.6 5,398.7 Other Liabilities 562.1 529.1 569.8 Shareholders' Equity 1,866.3 1,862.5 1,748.6 Total Liabilities and Shareholders' Equity $ 23,768.6 $ 23,861.8 $ 23,995.0 1 Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. 2 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1.3 million, $1.4 million, and $1.7 million for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively. 3 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 4b Nine Months Ended September 30, 2026 Nine Months Ended September 30, 2025 (dollars in millions) Average Balance Income/ Expense 2 Yield/ Rate Average Balance Income/ Expense 2 Yield/ Rate Earning Assets Cash and Cash Equivalents $ 251.4 $ 6.7 3.53 % $ 533.5 $ 17.5 4.32 % Investment Securities Available-for-Sale Taxable 3,623.2 106.3 3.91 2,979.8 80.2 3.59 Non-Taxable 31.8 1.2 5.10 27.0 1.2 5.85 Held-to-Maturity Taxable 4,086.7 53.7 1.75 4,457.6 59.0 1.77 Non-Taxable 33.3 0.5 2.04 34.0 0.5 2.10 Total Investment Securities 7,775.0 161.7 2.77 7,498.4 140.9 2.51 Loans Held for Sale 3.1 0.1 5.71 2.0 0.1 5.89 Loans and Leases 3 Commercial Mortgage 4,310.4 166.7 5.17 4,018.9 160.5 5.34 Commercial and Industrial 1,621.7 58.8 4.85 1,657.1 62.9 5.07 Construction 190.1 9.0 6.31 366.6 20.0 7.28 Commercial Lease Financing 85.0 2.8 4.34 92.5 2.8 4.00 Residential Mortgage 4,816.7 146.9 4.07 4,627.2 137.1 3.95 Home Equity 2,089.6 72.2 4.62 2,141.8 69.7 4.35 Automobile 677.6 28.7 5.66 729.7 28.3 5.18 Other 412.4 23.9 7.76 397.0 22.3 7.52 Total Loans and Leases 14,203.5 509.0 4.79 14,030.8 503.6 4.80 Other 82.9 4.1 6.50 65.2 3.2 6.64 Total Earning Assets 22,315.9 681.6 4.08 22,129.9 665.3 4.01 Non-Earning Assets 1,532.1 1,614.8 Total Assets $ 23,848.0 $ 23,744.7 Interest-Bearing Liabilities Interest-Bearing Deposits Demand $ 3,819.1 $ 21.1 0.74 % $ 3,753.3 $ 22.4 0.80 % Savings 8,739.5 120.0 1.84 8,652.4 146.0 2.25 Time 2,671.6 55.5 2.78 3,048.4 80.4 3.53 Total Interest-Bearing Deposits 15,230.2 196.6 1.73 15,454.1 248.8 2.15 Securities Sold Under Agreements to Repurchase 50.0 1.5 3.89 58.8 1.7 3.88 Other Debt 594.2 18.8 4.20 564.9 17.8 4.23 Total Interest-Bearing Liabilities 15,874.4 216.9 1.83 16,077.8 268.3 2.23 Net Interest Income $ 464.7 $ 397.0 Interest Rate Spread 2.25 % 1.78 % Net Interest Margin 2.78 % 2.39 % Noninterest-Bearing Demand Deposits 5,570.5 5,359.9 Other Liabilities 537.8 597.2 Shareholders’ Equity 1,865.3 1,709.8 Total Liabilities and Shareholders’ Equity $ 23,848.0 $ 23,744.7 1 Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report. 2 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $4.1 million and $4.8 million for the nine months ended September 30, 2026 and September 30, 2025, respectively. 3 Non-performing loans and leases are included in the respective average loan and lease balances. Bank of Hawai‘i Corporation and Subsidiaries Loan and Lease Portfolio Balances Table 5 (dollars in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Commercial Commercial Mortgage $ 4,467,245 $ 4,319,221 $ 4,341,448 $ 4,205,791 $ 4,040,711 Commercial and Industrial 1,652,329 1,676,535 1,575,207 1,584,245 1,581,232 Construction 117,919 164,504 204,993 208,584 380,944 Lease Financing 81,556 85,338 84,651 88,303 92,213 Total Commercial 6,319,049 6,245,598 6,206,299 6,086,923 6,095,100 Consumer Residential Mortgage 4,857,923 4,864,875 4,800,256 4,775,502 4,685,214 Home Equity 2,091,468 2,079,127 2,095,521 2,114,809 2,129,599 Automobile 671,597 674,899 680,570 690,376 699,244 Other 431,299 422,126 410,165 414,440 412,422 Total Consumer 8,052,287 8,041,027 7,986,512 7,995,127 7,926,479 Total Loans and Leases $ 14,371,336 $ 14,286,625 $ 14,192,811 $ 14,082,050 $ 14,021,579 Deposits (dollars in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Consumer $ 10,432,007 $ 10,454,082 $ 10,530,223 $ 10,466,617 $ 10,393,932 Commercial 7,977,291 8,167,262 8,340,279 8,597,265 8,348,396 Public and Other 2,072,260 2,271,431 2,087,428 2,124,613 2,338,341 Total Deposits $ 20,481,558 $ 20,892,775 $ 20,957,930 $ 21,188,495 $ 21,080,669 Bank of Hawai‘i Corporation and Subsidiaries Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More Table 6 (dollars in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Non-Performing Assets Non-Accrual Loans and Leases Commercial Commercial Mortgage $ 32,500 $ - $ - $ 2,085 $ 2,498 Commercial and Industrial 1,622 1,734 1,860 1,940 3,506 Total Commercial 34,122 1,734 1,860 4,025 6,004 Consumer Residential Mortgage 5,068 5,348 5,410 5,382 5,628 Home Equity 4,051 4,225 4,525 4,469 5,107 Total Consumer 9,119 9,573 9,935 9,851 10,735 Total Non-Accrual Loans and Leases 43,241 11,307 11,795 13,876 16,739 Foreclosed Real Estate 171 171 295 295 125 Total Non-Performing Assets $ 43,412 $ 11,478 $ 12,090 $ 14,171 $ 16,864 Accruing Loans and Leases Past Due 90 Days or More Consumer Residential Mortgage $ 12,125 $ 8,887 $ 10,733 $ 8,834 $ 7,456 Home Equity 2,845 3,503 1,556 2,152 2,765 Automobile 919 763 672 520 525 Other 679 965 764 753 578 Total Consumer 16,568 14,118 13,725 12,259 11,324 Total Accruing Loans and Leases Past Due 90 Days or More $ 16,568 $ 14,118 $ 13,725 $ 12,259 $ 11,324 Total Loans and Leases $ 14,371,336 $ 14,286,625 $ 14,192,811 $ 14,082,050 $ 14,021,579 Ratio of Non-Accrual Loans and Leases to Total Loans and Leases 0.30 % 0.08 % 0.08 % 0.10 % 0.12 % Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate 0.30 % 0.08 % 0.09 % 0.10 % 0.12 % Ratio of Non-Performing Assets to Total Assets 0.18 % 0.05 % 0.05 % 0.06 % 0.07 % Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate 0.54 % 0.03 % 0.03 % 0.07 % 0.10 % Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate 0.12 % 0.12 % 0.13 % 0.13 % 0.14 % Ratio of Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More to Total Loans and Leases and Foreclosed Real Estate 0.42 % 0.18 % 0.18 % 0.19 % 0.20 % Bank of Hawai‘i Corporation and Subsidiaries Reserve for Credit Losses Table 7 Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Balance at Beginning of Period $ 149,276 $ 149,078 $ 150,128 $ 148,403 $ 150,649 Loans and Leases Charged-Off Commercial Commercial and Industrial (168 ) (385 ) (171 ) (783 ) (1,776 ) Consumer Residential Mortgage (16 ) — — (31 ) — Home Equity (253 ) (219 ) (28 ) (478 ) (258 ) Automobile (1,799 ) (1,735 ) (1,368 ) (4,951 ) (4,372 ) Other (2,477 ) (2,400 ) (2,392 ) (7,271 ) (7,273 ) Total Loans and Leases Charged-Off (4,713 ) (4,739 ) (3,959 ) (13,514 ) (13,679 ) Recoveries on Loans and Leases Previously Charged-Off Commercial Commercial Mortgage — — — 1,617 — Commercial and Industrial 41 72 98 166 253 Consumer Residential Mortgage 8 22 58 41 80 Home Equity 58 77 177 272 485 Automobile 754 626 559 1,959 1,749 Other 538 540 490 1,668 1,514 Total Recoveries on Loans and Leases 1,399 1,337 1,382 5,723 4,081 Net Charged-Off - Loans and Leases (3,314 ) (3,402 ) (2,577 ) (7,791 ) (9,598 ) Provision for Credit Losses: Loans and Leases 2,489 3,435 2,812 7,195 9,848 Unfunded Commitments 261 165 (312 ) 905 (848 ) Total Provision for Credit Losses 2,750 3,600 2,500 8,100 9,000 Balance at End of Period $ 148,712 $ 149,276 $ 150,051 $ 148,712 $ 150,051 Components Allowance for Credit Losses - Loans and Leases $ 146,170 $ 146,995 $ 148,778 $ 146,170 $ 148,778 Reserve for Unfunded Commitments 2,542 2,281 1,273 2,542 1,273 Total Reserve for Credit Losses $ 148,712 $ 149,276 $ 150,051 $ 148,712 $ 150,051 Average Loans and Leases Outstanding $ 14,305,379 $ 14,218,951 $ 13,982,003 $ 14,203,547 $ 14,030,773 Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized) 0.09 % 0.10 % 0.07 % 0.07 % 0.09 % Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1 1.02 % 1.03 % 1.06 % 1.02 % 1.06 % 1 The numerator comprises the Allowance for Credit Losses - Loans and Leases. Bank of Hawai‘i Corporation and Subsidiaries Reconciliation of Non-GAAP Financial Measures Table 8 (dollars in thousands) September 30, 2026 June 30, 2026 December 31, 2025 September 30, 2025 Total Shareholders' Equity $ 1,826,076 $ 1,875,467 $ 1,851,212 $ 1,791,183 Less: Preferred Stock 345,000 345,000 345,000 345,000 Goodwill 31,517 31,517 31,517 31,517 Tangible Common Equity $ 1,449,559 $ 1,498,950 $ 1,474,695 $ 1,414,666 Total Assets $ 23,819,536 $ 23,842,940 $ 24,176,364 $ 24,014,609 Less: Goodwill 31,517 31,517 31,517 31,517 Tangible Assets $ 23,788,019 $ 23,811,423 $ 24,144,847 $ 23,983,092 Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1, 2 $ 14,587,549 $ 14,442,396 $ 14,246,238 $ 14,215,866 Total Shareholders' Equity to Total Assets 7.67 % 7.87 % 7.66 % 7.46 % Tangible Common Equity to Tangible Assets (Non-GAAP) 6.09 % 6.30 % 6.11 % 5.90 % Tier 1 Capital Ratio 1 14.41 % 14.45 % 14.49 % 14.34 % Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1 9.94 % 10.38 % 10.35 % 9.95 % 1 Regulatory capital ratios as of September 30, 2026 are preliminary. 2 Risk-Weighted Assets as of December 31, 2025 has been updated to reflect final reported amount. View source version on businesswire.com: https://www.businesswire.com/news/home/20261026685229/en/ Media Inquiries Melissa Torres-Laing Email: Melissa.Torres-Laing@boh.com Phone: 808-694-8384 Mobile: 808-859-1703 Investor/Analyst Inquiries Chang Park Email: Chang.Park@boh.com Phone: 808-694-8238 Patricia Lam Email: Patricia.Lam@boh.com Phone: 808-694-8575 Source: Bank of Hawai‘i Corporation