FIRST HAWAIIAN, INC._April 24, 2026

EXHIBIT 99.1

For Immediate Release

First Hawaiian, Inc. Reports First Quarter 2026 Financial Results and Declares Dividend

HONOLULU, Hawaii April 24, 2026--(Globe Newswire)--First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended March 31, 2026.

“I’m pleased to report that First Hawaiian started 2026 with a strong first quarter,” said Bob Harrison, Chairman, President, and CEO. “We had good growth in loans and deposits, and credit quality remained excellent. Our commitment to our communities is just as strong, as we actively support recovery efforts following the recent floods in Hawai‘i and Typhoon Sinlaku’s impact on Guam and Saipan. We will continue to stand alongside our customers across our markets throughout the recovery.”

On April 22, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on May 29, 2026, to stockholders of record at the close of business on May 18, 2026.

First Quarter 2026 Highlights:

●

Net income of $67.8 million, or $0.55 per diluted share

●

Total loans and leases increased $128.3 million versus prior quarter

●

Total deposits increased $261.7 million versus prior quarter

●

Net interest margin declined 2 basis points to 3.19%

●

Recorded a $5.0 million provision for credit losses

●

Board of Directors declared a quarterly dividend of $0.26 per share

Balance Sheet

Total assets were $24.3 billion at March 31, 2026 versus $24.0 billion at December 31, 2025.

Gross loans and leases were $14.4 billion as of March 31, 2026, an increase of $128.3 million from $14.3 billion as of December 31, 2025.

Total deposits were $20.8 billion as of March 31, 2026, an increase of $261.7 million from $20.5 billion as of December 31, 2025.

Net Interest Income

Net interest income for the first quarter of 2026 was $167.5 million, a decrease of $2.8 million compared to $170.3 million for the prior quarter.

The net interest margin was 3.19% in the first quarter of 2026, 2 basis points lower than the prior quarter’s margin of 3.21%.

Provision Expense

During the quarter ended March 31, 2026, we recorded a $5.0 million provision for credit losses. In the quarter ended December 31, 2025, we recorded a $7.7 million provision for credit losses.

Noninterest Income

Noninterest income was $52.8 million in the first quarter of 2026, $2.7 million lower compared to noninterest income of $55.6 million in the prior quarter.

Noninterest Expense

Noninterest expense was $127.9 million in the first quarter of 2026, $2.8 million higher compared to noninterest expense of $125.1 million in the prior quarter.

The efficiency ratio was 57.8% and 55.1% for the quarters ended March 31, 2026 and December 31, 2025, respectively.

Taxes

The effective tax rate was 22.5% and 24.8% for the quarters ended March 31, 2026 and December 31, 2025, respectively.

Asset Quality

The allowance for credit losses was $169.3 million, or 1.17% of total loans and leases, as of March 31, 2026, compared to $168.5 million, or 1.18% of total loans and leases, as of December 31, 2025. The reserve for unfunded commitments was $34.9 million as of March 31, 2026 and $35.7 million as of December 31, 2025. Net charge-offs were $4.9 million, or 0.14% of average loans and leases on an annualized basis, for the quarter ended March 31, 2026, compared to net charge-offs of $5.0 million, or 0.14% of average loans and leases on an annualized basis, for the quarter ended December 31, 2025. Total non-performing assets were $39.7 million, or 0.27% of total loans and leases and other real estate owned, on March 31, 2026, compared to total non-performing assets of $41.0 million, or 0.29% of total loans and leases and other real estate owned, on December 31, 2025.

Capital

Total stockholders' equity was $2.8 billion at March 31, 2026 and December 31, 2025.

The tier 1 leverage, common equity tier 1 and total capital ratios were 9.21%, 13.12% and 14.37%, respectively, on March 31, 2026, compared with 9.27%, 13.17% and 14.42%, respectively, on December 31, 2025.

The Company repurchased approximately 1.3 million shares of common stock at a total cost of $32.0 million under the stock repurchase program in the first quarter. The average cost was $24.47 per share repurchased.

First Hawaiian, Inc.

First Hawaiian, Inc. (NASDAQ:FHB) is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii’s oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and merchant processing services. Customers may also access their accounts through ATMs, online and mobile banking channels. For more information about First Hawaiian, Inc., visit the Company’s website, www.fhb.com.

Conference Call Information

First Hawaiian will host a conference call to discuss the Company’s results today at 1:00 p.m. Eastern Time, 7:00 a.m. Hawaii Time.

To access the call by phone, please register via the following link:

https://register-conf.media-server.com/register/BI91896a5e1d8b487a89f5948ca1270853, and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

A live webcast of the conference call, including a slide presentation, will be available at the following link: www.fhb.com/earnings. The archive of the webcast will be available at the same location.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, there can be no assurance that actual results will not prove to be materially different from the results expressed or implied by the forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements, including (without limitation) the risks and uncertainties associated with the domestic and global economic environment and capital market conditions and other risk factors. For a discussion of some of these risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2025.

Use of Non-GAAP Financial Measures

Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We believe that these measurements are useful for investors, regulators, management and others to evaluate financial performance and capital adequacy relative to other financial institutions. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results or financial condition as reported under GAAP. Investors should consider our performance and capital adequacy as reported under GAAP and all other relevant information when assessing our performance and capital adequacy.

Table 12 at the end of this document provides a reconciliation of these non-GAAP financial measures with their most directly comparable GAAP measures.


Investor Relations Contact:	Media Contact:
Kevin Haseyama, CFA	Lindsay Chambers
(808) 525-6268	(808) 525-6254
[email protected]	[email protected]


Financial Highlights	Table 1
	For the Three Months Ended
	March 31,			December 31,			March 31,
(dollars in thousands, except per share data)	2026			2025			2025
Operating Results:
Net interest income	$	167,530		$	170,302		$	160,526
Provision for credit losses		5,000			7,700			10,500
Noninterest income		52,819			55,551			50,477
Noninterest expense		127,885			125,102			123,560
Net income		67,784			69,931			59,248
Basic earnings per share		0.55			0.57			0.47
Diluted earnings per share		0.55			0.56			0.47
Dividends declared per share		0.26			0.26			0.26
Dividend payout ratio		47.27	%		46.43	%		55.32	%
Performance Ratios⁽¹⁾:
Net interest margin		3.19	%		3.21	%		3.08	%
Efficiency ratio		57.77	%		55.14	%		58.22	%
Return on average total assets		1.14	%		1.16	%		1.01	%
Return on average tangible assets (non-GAAP)⁽²⁾		1.19	%		1.21	%		1.05	%
Return on average total stockholders' equity		9.86	%		10.07	%		9.09	%
Return on average tangible stockholders' equity (non-GAAP)⁽²⁾		15.33	%		15.76	%		14.59	%
Average Balances:
Average loans and leases	$	14,289,418		$	14,251,470		$	14,309,998
Average earning assets		21,332,641			21,215,262			21,169,194
Average assets		24,083,280			23,925,000			23,890,459
Average deposits		20,623,573			20,510,346			20,354,040
Average stockholders' equity		2,788,826			2,756,241			2,641,978
Market Value Per Share:
Closing		24.64			25.30			24.44
High		28.35			26.56			28.28
Low		23.26			22.65			23.95


	As of			As of			As of
	March 31,			December 31,			March 31,
(dollars in thousands, except per share data)	2026			2025			2025
Balance Sheet Data:
Loans and leases	$	14,440,835		$	14,312,529		$	14,293,036
Total assets		24,264,548			23,955,252			23,744,958
Total deposits		20,777,353			20,515,668			20,215,816
Short-term borrowings		—			—			250,000
Total stockholders' equity		2,767,760			2,769,365			2,648,852

Per Share of Common Stock:
Book value	$	22.75		$	22.57		$	21.07
Tangible book value (non-GAAP)⁽²⁾		14.57			14.46			13.15

Asset Quality Ratios:
Non-accrual loans and leases / total loans and leases		0.27	%		0.29	%		0.14	%
Allowance for credit losses for loans and leases / total loans and leases		1.17	%		1.18	%		1.17	%

Capital Ratios:
Common Equity Tier 1 Capital Ratio		13.12	%		13.17	%		12.93	%
Tier 1 Capital Ratio		13.12	%		13.17	%		12.93	%
Total Capital Ratio		14.37	%		14.42	%		14.17	%
Tier 1 Leverage Ratio		9.21	%		9.27	%		9.01	%
Total stockholders' equity to total assets		11.41	%		11.56	%		11.16	%
Tangible stockholders' equity to tangible assets (non-GAAP)⁽²⁾		7.62	%		7.73	%		7.27	%

Non-Financial Data:
Number of branches		49			49			48
Number of ATMs		273			273			273
Number of Full-Time Equivalent Employees		1,986			1,997			1,995

(1)	Except for the efficiency ratio, amounts are annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.

(2)

Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We compute our return on average tangible assets as the ratio of net income to average tangible assets, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total assets. We compute our return on average tangible stockholders’ equity as the ratio of net income to average tangible stockholders’ equity, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total stockholders’ equity. We compute our tangible book value per share as the ratio of tangible stockholders’ equity to outstanding shares. Tangible stockholders’ equity is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our total stockholders’ equity. We compute our tangible stockholders’ equity to tangible assets as the ratio of tangible stockholders’ equity to tangible assets, each of which we calculate by subtracting (and thereby effectively excluding) the value of our goodwill. For a reconciliation to the most directly comparable GAAP financial measure, see Table 12, GAAP to Non-GAAP Reconciliation.


Consolidated Statements of Income	Table 2
	For the Three Months Ended
	March 31,		December 31,		March 31,
(dollars in thousands, except per share amounts)	2026		2025		2025
Interest income
Loans and lease financing	$	186,389	$	192,483	$	192,102
Available-for-sale investment securities		14,884		14,997		13,150
Held-to-maturity investment securities		15,063		15,711		16,647
Other		13,362		13,648		13,251
Total interest income		229,698		236,839		235,150
Interest expense
Deposits		62,064		66,441		71,709
Short-term borrowings		—		—		2,599
Other		104		96		316
Total interest expense		62,168		66,537		74,624
Net interest income		167,530		170,302		160,526
Provision for credit losses		5,000		7,700		10,500
Net interest income after provision for credit losses		162,530		162,602		150,026
Noninterest income
Service charges on deposit accounts		8,156		8,175		7,535
Credit and debit card fees		15,083		15,570		14,474
Other service charges and fees		13,784		13,829		12,167
Trust and investment services income		9,146		9,205		9,370
Bank-owned life insurance		4,091		5,204		4,371
Investment securities gains, net		—		—		37
Other		2,559		3,568		2,523
Total noninterest income		52,819		55,551		50,477
Noninterest expense
Salaries and employee benefits		64,090		64,768		60,104
Contracted services and professional fees		13,964		13,676		14,839
Occupancy		7,816		7,092		8,100
Equipment		14,781		14,550		13,871
Regulatory assessment and fees		3,248		1,204		3,823
Advertising and marketing		2,252		2,326		2,179
Card rewards program		8,404		8,344		7,919
Other		13,330		13,142		12,725
Total noninterest expense		127,885		125,102		123,560
Income before provision for income taxes		87,464		93,051		76,943
Provision for income taxes		19,680		23,120		17,695
Net income	$	67,784	$	69,931	$	59,248
Basic earnings per share	$	0.55	$	0.57	$	0.47
Diluted earnings per share	$	0.55	$	0.56	$	0.47
Basic weighted-average outstanding shares		122,457,604		123,342,709		126,281,802
Diluted weighted-average outstanding shares		123,345,708		124,158,037		127,166,932


Consolidated Balance Sheets	Table 3
	March 31,		December 31,		March 31,
(dollars in thousands, except share amount)	2026		2025		2025
Assets
Cash and due from banks	$	225,727	$	228,734	$	240,738
Interest-bearing deposits in other banks		1,493,421		1,249,018		1,073,841
Investment securities:
Available-for-sale, at fair value (amortized cost: $2,270,792 as of March 31, 2026, $2,246,716 as of December 31, 2025 and $2,091,034 as of March 31, 2025)		2,080,004		2,076,233		1,858,428
Held-to-maturity, at amortized cost (fair value: $3,074,133 as of March 31, 2026, $3,188,775 as of December 31, 2025 and $3,250,275 as of March 31, 2025)		3,480,022		3,533,082		3,724,908
Loans held for sale		—		1,370		1,547
Loans and leases		14,440,835		14,312,529		14,293,036
Less: allowance for credit losses		169,318		168,468		166,612
Net loans and leases		14,271,517		14,144,061		14,126,424

Premises and equipment, net		302,807		303,496		292,576
Accrued interest receivable		77,286		77,641		78,973
Bank-owned life insurance		514,069		513,182		495,567
Goodwill		995,492		995,492		995,492
Mortgage servicing rights		4,470		4,638		4,926
Other assets		819,733		828,305		851,538
Total assets	$	24,264,548	$	23,955,252	$	23,744,958
Liabilities and Stockholders' Equity
Deposits:
Interest-bearing	$	14,257,290	$	13,968,376	$	13,330,265
Noninterest-bearing		6,520,063		6,547,292		6,885,551
Total deposits		20,777,353		20,515,668		20,215,816
Short-term borrowings		—		—		250,000
Retirement benefits payable		98,220		99,052		96,241
Other liabilities		621,215		571,167		534,049
Total liabilities		21,496,788		21,185,887		21,096,106

Stockholders' equity
Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,627,813 / 121,648,973 shares as of March 31, 2026, issued/outstanding: 142,184,584 / 122,689,256 shares as of December 31, 2025 and issued/outstanding: 142,139,353 / 125,692,598 shares as of March 31, 2025)		1,426		1,422		1,421
Additional paid-in capital		2,580,501		2,576,540		2,564,408
Retained earnings		1,114,759		1,078,885		960,337
Accumulated other comprehensive loss, net		(372,747)		(368,140)		(433,769)
Treasury stock (20,978,840 shares as of March 31, 2026, 19,495,328 shares as of December 31, 2025 and 16,446,755 shares as of March 31, 2025)		(556,179)		(519,342)		(443,545)
Total stockholders' equity		2,767,760		2,769,365		2,648,852
Total liabilities and stockholders' equity	$	24,264,548	$	23,955,252	$	23,744,958


Average Balances and Interest Rates																	Table 4
	Three Months Ended						Three Months Ended						Three Months Ended
	March 31, 2026						December 31, 2025						March 31, 2025
	Average		Income/		Yield/		Average		Income/		Yield/		Average		Income/		Yield/
(dollars in millions)	Balance		Expense		Rate		Balance		Expense		Rate		Balance		Expense		Rate
Earning Assets
Interest-Bearing Deposits in Other Banks	$	1,455.0	$	13.2	3.68	%	$	1,331.8	$	13.2	3.95	%	$	1,171.1	$	12.8	4.44	%
Available-for-Sale Investment Securities
Taxable		2,050.7		14.9	2.91			2,035.3		15.0	2.94			1,891.4		13.2	2.79
Non-Taxable		0.8		—	4.86			0.9		—	4.97			1.4		—	5.52
Held-to-Maturity Investment Securities
Taxable		2,916.5		12.0	1.64			2,973.8		12.6	1.69			3,164.0		13.6	1.72
Non-Taxable		592.6		3.5	2.39			594.3		3.5	2.37			599.0		3.7	2.51
Total Investment Securities		5,560.6		30.4	2.19			5,604.3		31.1	2.22			5,655.8		30.5	2.16
Loans Held for Sale		0.9		—	5.87			0.3		—	5.83			0.3		—	6.28
Loans and Leases⁽¹⁾
Commercial and industrial		2,170.6		30.8	5.75			2,131.5		31.9	5.94			2,196.8		33.6	6.20
Commercial real estate		4,608.4		65.0	5.72			4,599.2		68.8	5.93			4,420.1		66.5	6.10
Construction		775.5		12.4	6.48			804.5		13.3	6.55			937.0		15.4	6.67
Residential:
Residential mortgage		4,081.8		41.0	4.02			4,081.3		41.0	4.02			4,150.3		40.9	3.94
Home equity line		1,175.4		13.7	4.71			1,175.7		14.0	4.71			1,149.8		13.1	4.61
Consumer		1,034.5		20.0	7.84			1,022.1		19.8	7.70			1,019.5		18.9	7.53
Lease financing		443.2		4.1	3.75			437.2		4.3	3.89			436.5		4.3	3.99
Total Loans and Leases		14,289.4		187.0	5.29			14,251.5		193.1	5.38			14,310.0		192.7	5.44
Other Earning Assets		26.7		0.1	2.52			27.4		0.4	5.69			32.0		0.4	5.48
Total Earning Assets⁽²⁾		21,332.6		230.7	4.37			21,215.3		237.8	4.46			21,169.2		236.4	4.51
Cash and Due from Banks		226.4						221.1						235.9
Other Assets		2,524.3						2,488.6						2,485.4
Total Assets	$	24,083.3					$	23,925.0					$	23,890.5

Interest-Bearing Liabilities
Interest-Bearing Deposits
Savings	$	6,404.5	$	18.9	1.20	%	$	6,288.5	$	20.0	1.26	%	$	6,232.5	$	21.3	1.38	%
Money Market		4,358.9		19.8	1.84			4,185.4		22.0	2.08			3,922.2		23.0	2.38
Time		3,381.3		23.4	2.80			3,368.8		24.4	2.88			3,317.1		27.4	3.36
Total Interest-Bearing Deposits		14,144.7		62.1	1.78			13,842.7		66.4	1.90			13,471.8		71.7	2.16
Other Short-Term Borrowings		—		—	—			—		—	—			250.0		2.6	4.22
Other Interest-Bearing Liabilities		12.5		0.1	3.40			9.5		0.1	3.97			27.5		0.3	4.67
Total Interest-Bearing Liabilities		14,157.2		62.2	1.78			13,852.2		66.5	1.91			13,749.3		74.6	2.20
Net Interest Income			$	168.5					$	171.3					$	161.8
Interest Rate Spread⁽³⁾					2.59	%					2.55	%					2.31	%
Net Interest Margin⁽⁴⁾					3.19	%					3.21	%					3.08	%
Noninterest-Bearing Demand Deposits		6,478.9						6,667.6						6,882.2
Other Liabilities		658.4						649.0						617.0
Stockholders' Equity		2,788.8						2,756.2						2,642.0
Total Liabilities and Stockholders' Equity	$	24,083.3					$	23,925.0					$	23,890.5

(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)	Interest income includes taxable-equivalent basis adjustments of $1.0 million, $1.0 million and $1.2 million for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

(3)	Interest rate spread is the difference between the average yield on earning assets and the average rate paid on interest-bearing liabilities, on a fully taxable-equivalent basis.

(4)	Net interest margin is net interest income annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, on a fully taxable-equivalent basis, divided by average total earning assets.


Analysis of Change in Net Interest Income						Table 5
	Three Months Ended March 31, 2026
	Compared to December 31, 2025
(dollars in millions)	Volume		Rate		Total⁽¹⁾
Change in Interest Income:
Interest-Bearing Deposits in Other Banks	$	1.0	$	(1.0)	$	—
Available-for-Sale Investment Securities
Taxable		0.1		(0.2)		(0.1)
Held-to-Maturity Investment Securities
Taxable		(0.2)		(0.4)		(0.6)
Non-Taxable		—		—		—
Total Investment Securities		(0.1)		(0.6)		(0.7)
Loans and Leases
Commercial and industrial		0.3		(1.4)		(1.1)
Commercial real estate		—		(3.8)		(3.8)
Construction		(0.7)		(0.2)		(0.9)
Residential:
Residential mortgage		—		—		—
Home equity line		(0.3)		—		(0.3)
Consumer		0.1		0.1		0.2
Lease financing		—		(0.2)		(0.2)
Total Loans and Leases		(0.6)		(5.5)		(6.1)
Other Earning Assets		(0.1)		(0.2)		(0.3)
Total Change in Interest Income		0.2		(7.3)		(7.1)

Change in Interest Expense:
Interest-Bearing Deposits
Savings		0.2		(1.3)		(1.1)
Money Market		0.7		(2.9)		(2.2)
Time		0.1		(1.1)		(1.0)
Total Interest-Bearing Deposits		1.0		(5.3)		(4.3)
Other Short-Term Borrowings		—		—		—
Other Interest-Bearing Liabilities		—		—		—
Total Change in Interest Expense		1.0		(5.3)		(4.3)
Change in Net Interest Income	$	(0.8)	$	(2.0)	$	(2.8)

(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.


Analysis of Change in Net Interest Income						Table 6
	Three Months Ended March 31, 2026
	Compared to March 31, 2025
(dollars in millions)	Volume		Rate		Total ⁽¹⁾
Change in Interest Income:
Interest-Bearing Deposits in Other Banks	$	2.8	$	(2.4)	$	0.4
Available-for-Sale Investment Securities
Taxable		1.1		0.6		1.7
Held-to-Maturity Investment Securities
Taxable		(1.0)		(0.6)		(1.6)
Non-Taxable		—		(0.2)		(0.2)
Total Investment Securities		0.1		(0.2)		(0.1)
Loans and Leases
Commercial and industrial		(0.4)		(2.4)		(2.8)
Commercial real estate		2.8		(4.3)		(1.5)
Construction		(2.6)		(0.4)		(3.0)
Residential:
Residential mortgage		(0.7)		0.8		0.1
Home equity line		0.3		0.3		0.6
Consumer		0.3		0.8		1.1
Lease financing		0.1		(0.3)		(0.2)
Total Loans and Leases		(0.2)		(5.5)		(5.7)
Other Earning Assets		(0.1)		(0.2)		(0.3)
Total Change in Interest Income		2.6		(8.3)		(5.7)

Change in Interest Expense:
Interest-Bearing Deposits
Savings		0.5		(2.9)		(2.4)
Money Market		2.4		(5.6)		(3.2)
Time		0.6		(4.6)		(4.0)
Total Interest-Bearing Deposits		3.5		(13.1)		(9.6)
Other Short-Term Borrowings		(1.3)		(1.3)		(2.6)
Other Interest-Bearing Liabilities		(0.1)		(0.1)		(0.2)
Total Change in Interest Expense		2.1		(14.5)		(12.4)
Change in Net Interest Income	$	0.5	$	6.2	$	6.7

(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.


Loans and Leases								Table 7
	March 31,			December 31,			March 31,
(dollars in thousands)	2026			2025			2025
Commercial and industrial	$	2,241,882		$	2,171,333		$	2,261,394
Commercial real estate		4,715,741			4,590,326			4,367,433
Construction		769,302			808,275			954,072
Residential:
Residential mortgage		4,063,933			4,096,300			4,129,518
Home equity line		1,176,228			1,178,527			1,144,895
Total residential		5,240,161			5,274,827			5,274,413
Consumer		1,030,002			1,025,838			998,325
Lease financing		443,747			441,930			437,399
Total loans and leases	$	14,440,835		$	14,312,529		$	14,293,036


Deposits								Table 8
	March 31,			December 31,			March 31,
(dollars in thousands)	2026			2025			2025
Demand	$	6,520,063		$	6,547,292		$	6,885,551
Savings		6,566,192			6,308,873			6,110,796
Money Market		4,310,474			4,289,370			3,865,203
Time		3,380,624			3,370,133			3,354,266
Total Deposits	$	20,777,353		$	20,515,668		$	20,215,816


Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More								Table 9
	March 31,			December 31,			March 31,
(dollars in thousands)	2026			2025			2025
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial Loans:
Commercial and industrial	$	4,960		$	8,805		$	—
Commercial real estate		2,952			3,007			216
Construction		1,788			1,788			375
Lease financing		691			734			—
Total Commercial Loans		10,391			14,334			591
Residential Loans:
Residential mortgage		17,665			16,423			12,809
Home equity line		11,624			10,271			6,788
Total Residential Loans		29,289			26,694			19,597
Total Non-Accrual Loans and Leases		39,680			41,028			20,188
Total Non-Performing Assets	$	39,680		$	41,028		$	20,188

Accruing Loans and Leases Past Due 90 Days or More
Commercial and industrial	$	715		$	318		$	740
Residential mortgage		9			55			1,008
Consumer		3,620			2,984			2,554
Total Accruing Loans and Leases Past Due 90 Days or More	$	4,344		$	3,357		$	4,302

Total Loans and Leases	$	14,440,835		$	14,312,529		$	14,293,036


Allowance for Credit Losses and Reserve for Unfunded Commitments	Table 10
	For the Three Months Ended
	March 31,			December 31,			March 31,
(dollars in thousands)	2026			2025			2025
Balance at Beginning of Period	$	204,165		$	201,466		$	193,240
Loans and Leases Charged-Off
Commercial and industrial		(2,625)			(1,478)			(1,459)
Home equity line		—			—			(14)
Consumer		(4,844)			(5,186)			(5,025)
Total Loans and Leases Charged-Off		(7,469)			(6,664)			(6,498)
Recoveries on Loans and Leases Previously Charged-Off
Commercial Loans:
Commercial and industrial		266			193			403
Commercial real estate		—			—			251
Lease financing		3			—			—
Total Commercial Loans		269			193			654
Residential Loans:
Residential mortgage		13			14			20
Home equity line		39			27			64
Total Residential Loans		52			41			84
Consumer		2,248			1,429			1,979
Total Recoveries on Loans and Leases Previously Charged-Off		2,569			1,663			2,717
Net Loans and Leases Charged-Off		(4,900)			(5,001)			(3,781)
Provision for Credit Losses		5,000			7,700			10,500
Balance at End of Period	$	204,265		$	204,165		$	199,959
Components:
Allowance for Credit Losses	$	169,318		$	168,468		$	166,612
Reserve for Unfunded Commitments		34,947			35,697			33,347
Total Allowance for Credit Losses and Reserve for Unfunded Commitments	$	204,265		$	204,165		$	199,959
Average Loans and Leases Outstanding	$	14,289,418		$	14,251,470		$	14,309,998
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding⁽¹⁾		0.14	%		0.14	%		0.11	%
Ratio of Allowance for Credit Losses for Loans and Leases to Loans and Leases Outstanding		1.17	%		1.18	%		1.17	%
Ratio of Allowance for Credit Losses for Loans and Leases to Non-accrual Loans and Leases		4.27x			4.11x			8.25x

(1)	Annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.

Loans and Leases by Year of Origination and Credit Quality Indicator

Table 11

Revolving

Loans

Converted

Term Loans

Revolving

to Term

Amortized Cost Basis by Origination Year

Loans

Amortized

(dollars in thousands)

2026

2025

2024

2023

2022

Prior

Cost Basis

Total

Commercial Lending

Commercial and Industrial

Risk rating:

Pass

39,118

287,976

121,084

59,643

88,428

360,068

1,084,181

29,066

2,069,564

Special Mention

460

3,650

2,733

1,690

2,286

1,120

1,404

—

13,343

Substandard

4,439

717

—

405

3,164

19,234

32,253

—

60,212

Other ⁽¹⁾

14,670

15,797

8,089

4,154

3,116

1,754

51,183

—

98,763

Total Commercial and Industrial

58,687

308,140

131,906

65,892

96,994

382,176

1,169,021

29,066

2,241,882

Current period gross charge-offs

—

708

1,861

—

2,625

Commercial Real Estate

Risk rating:

Pass

245,499

732,845

290,053

415,324

728,453

1,987,673

98,893

6,790

4,505,530

Special Mention

—

678

1,659

50,911

72,086

3,035

—

128,369

Substandard

224

—

5,514

737

57,133

16,863

1,251

—

81,722

Other ⁽¹⁾

—

120

—

120

Total Commercial Real Estate

245,723

732,845

296,245

417,720

836,497

2,076,742

103,179

6,790

4,715,741

Current period gross charge-offs

—

Construction

Risk rating:

Pass

8,033

101,880

256,657

79,748

193,998

37,280

37,491

—

715,087

Special Mention

—

27,979

—

27,979

Substandard

—

904

—

904

Other ⁽¹⁾

1,634

8,395

5,881

4,878

2,098

1,764

682

—

25,332

Total Construction

9,667

110,275

262,538

84,626

224,075

39,948

38,173

—

769,302

Current period gross charge-offs

—

Lease Financing

Risk rating:

Pass

68,176

65,980

80,294

87,568

38,834

97,878

—

438,730

Special Mention

—

355

—

392

Substandard

—

4,072

368

185

—

4,625

Total Lease Financing

68,176

65,980

84,366

88,291

39,056

97,878

—

443,747

Current period gross charge-offs

—

Total Commercial Lending

382,253

1,217,240

775,055

656,529

1,196,622

2,596,744

1,310,373

35,856

8,170,672

Current period gross charge-offs

—

708

1,861

—

2,625

(continued)


															Revolving
															Loans
															Converted
	Term Loans												Revolving		to Term
	Amortized Cost Basis by Origination Year												Loans		Loans
(continued)													Amortized		Amortized
(dollars in thousands)	2026		2025		2024		2023		2022		Prior		Cost Basis		Cost Basis		Total
Residential Lending
Residential Mortgage
FICO:
740 and greater	$	55,081	$	194,338	$	141,798	$	177,437	$	445,925	$	2,310,043	$	—	$	—	$	3,324,622
680 - 739		5,446		21,151		18,967		25,654		55,761		260,895		—		—		387,874
620 - 679		158		6,936		2,095		5,513		24,724		74,911		—		—		114,337
550 - 619		—		—		713		1,186		3,099		19,617		—		—		24,615
Less than 550		—		—		1,960		885		2,980		13,897		—		—		19,722
No Score ⁽³⁾		—		8,064		5,077		5,352		15,747		51,351		—		—		85,591
Other ⁽²⁾		2,541		20,241		7,176		11,124		13,352		44,311		8,427		—		107,172
Total Residential Mortgage		63,226		250,730		177,786		227,151		561,588		2,775,025		8,427		—		4,063,933
Current period gross charge-offs		—		—		—		—		—		—		—		—		—

Home Equity Line
FICO:
740 and greater		—		—		—		—		—		—		927,710		353		928,063
680 - 739		—		—		—		—		—		—		179,282		1,553		180,835
620 - 679		—		—		—		—		—		—		42,052		407		42,459
550 - 619		—		—		—		—		—		—		13,280		821		14,101
Less than 550		—		—		—		—		—		—		9,946		71		10,017
No Score ⁽³⁾		—		—		—		—		—		—		753		—		753
Total Home Equity Line		—		—		—		—		—		—		1,173,023		3,205		1,176,228
Current period gross charge-offs		—		—		—		—		—		—		—		—		—

Total Residential Lending	$	63,226	$	250,730	$	177,786	$	227,151	$	561,588	$	2,775,025	$	1,181,450	$	3,205	$	5,240,161
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer Lending
FICO:
740 and greater		33,204		101,067		58,946		38,378		41,556		17,925		95,475		91		386,642
680 - 739		24,220		80,977		43,398		24,700		20,837		10,393		86,290		534		291,349
620 - 679		15,474		45,858		17,506		9,762		10,820		6,119		51,631		824		157,994
550 - 619		1,090		12,576		8,565		5,877		6,434		4,201		17,550		906		57,199
Less than 550		203		4,779		4,993		3,216		3,499		2,786		6,156		528		26,160
No Score ⁽³⁾		2,494		940		4		31		—		6		35,918		158		39,551
Other ⁽²⁾		—		4,503		—		—		—		1,498		65,106		—		71,107
Total Consumer Lending	$	76,685	$	250,700	$	133,412	$	81,964	$	83,146	$	42,928	$	358,126	$	3,041	$	1,030,002
Current period gross charge-offs	$	—	$	680	$	778	$	582	$	370	$	593	$	1,645	$	196	$	4,844

Total Loans and Leases	$	522,164	$	1,718,670	$	1,086,253	$	965,644	$	1,841,356	$	5,414,697	$	2,849,949	$	42,102	$	14,440,835
Current period gross charge-offs	$	—	$	680	$	824	$	582	$	380	$	1,301	$	3,506	$	196	$	7,469

(1)	Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score (680 and above). As of March 31, 2026, the majority of the loans in this population were current.

(2)	Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. As of March 31, 2026, the majority of the loans in this population were current.

(3)	No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance.


GAAP to Non-GAAP Reconciliation	Table 12
	For the Three Months Ended
	March 31,			December 31,			March 31,
(dollars in thousands)	2026			2025			2025
Income Statement Data:
Net income	$	67,784		$	69,931		$	59,248

Average total stockholders' equity	$	2,788,826		$	2,756,241		$	2,641,978
Less: average goodwill		995,492			995,492			995,492
Average tangible stockholders' equity	$	1,793,334		$	1,760,749		$	1,646,486

Average total assets	$	24,083,280		$	23,925,000		$	23,890,459
Less: average goodwill		995,492			995,492			995,492
Average tangible assets	$	23,087,788		$	22,929,508		$	22,894,967

Return on average total stockholders' equity⁽¹⁾		9.86	%		10.07	%		9.09	%
Return on average tangible stockholders' equity (non-GAAP)⁽¹⁾		15.33	%		15.76	%		14.59	%

Return on average total assets⁽¹⁾		1.14	%		1.16	%		1.01	%
Return on average tangible assets (non-GAAP)⁽¹⁾		1.19	%		1.21	%		1.05	%



	As of			As of			As of
	March 31,			December 31,			March 31,
(dollars in thousands, except per share amounts)	2026			2025			2025
Balance Sheet Data:
Total stockholders' equity	$	2,767,760		$	2,769,365		$	2,648,852
Less: goodwill		995,492			995,492			995,492
Tangible stockholders' equity	$	1,772,268		$	1,773,873		$	1,653,360

Total assets	$	24,264,548		$	23,955,252		$	23,744,958
Less: goodwill		995,492			995,492			995,492
Tangible assets	$	23,269,056		$	22,959,760		$	22,749,466

Shares outstanding		121,648,973			122,689,256			125,692,598

Total stockholders' equity to total assets		11.41	%		11.56	%		11.16	%
Tangible stockholders' equity to tangible assets (non-GAAP)		7.62	%		7.73	%		7.27	%

Book value per share	$	22.75		$	22.57		$	21.07
Tangible book value per share (non-GAAP)	$	14.57		$	14.46		$	13.15

(1)	Annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.


001-14585		99-0156159
(Commission File Number)		(IRS Employer Identification No.)


999 Bishop St., 29th Floor
Honolulu, Hawaii		96813
(Address of Principal Executive Offices)		(Zip Code)

Title of each class:	Trading Symbol(s)	Name of each exchange on which registered:
Common Stock, par value $0.01 per share	FHB	NASDAQ Global Select Market


Exhibit No.		Description

99.1		Press release of First Hawaiian, Inc. dated April 24, 2026 containing financial information for its quarter ended March 31, 2026.

104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

Pril
	FIRST HAWAIIAN, INC.

Date: April 24, 2026	By:	/s/ Robert S. Harrison
		Robert S. Harrison
		Chairman of the Board, President and Chief Executive Officer
		(Principal Executive Officer)


Delaware
(State or Other Jurisdiction of Incorporation)