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    Bank of Hawai'i Corporation Second Quarter 2024 Financial Results

    7/22/24 6:45:00 AM ET
    $BOH
    Major Banks
    Finance
    Get the next $BOH alert in real time by email
    • Diluted Earnings Per Common Share $0.81
    • Net Income $34.1 Million
    • Net Interest Margin 2.15%
    • Board of Directors Declares Dividend of $0.70 Per Common Share
    • Industry-wide FDIC Special Assessment Resulted in a $2.6 Million Non-Recurring Charge in the Second Quarter of 2024
    • Raised $165 million in connection with preferred stock offering in late June

    Bank of Hawai‘i Corporation (NYSE:BOH) today reported diluted earnings per common share of $0.81 for the second quarter of 2024, compared with diluted earnings per common share of $0.87 in the previous quarter and $1.12 in the same quarter of 2023. An industry-wide FDIC Special Assessment resulted in a $2.6 million one-time charge in the second quarter of 2024 which negatively impacted diluted earnings per common share by $0.05. Net income for the second quarter of 2024 was $34.1 million, down 6.3% from the previous quarter and down 26.0% from the same quarter of 2023. The return on average common equity for the second quarter of 2024 was 10.41% compared with 11.20% in the previous quarter and 14.95% in the same quarter of 2023.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240722713291/en/

    "Bank of Hawai‘i delivered strong financial results in the second quarter of 2024," said Peter Ho, Chairman and CEO. "Credit quality remained exceptional with non-performing assets of 0.11% at quarter end and net charge-offs of 0.10% during the quarter. Our net interest margin increased by 4 basis points as we continued to benefit from cashflows repricing. Our core noninterest income remained steady while core noninterest expense increased by 2.0%. Average deposits were down by 0.9% and average loans were down modestly. Finally, we successfully closed a preferred stock offering in late June, strengthening our already strong capital levels."

    Financial Highlights

    Net interest income for the second quarter of 2024 was $114.8 million, an increase of 0.8% from the previous quarter and a decrease of 7.6% from the same quarter of 2023. Net interest margin was 2.15% in the second quarter of 2024, an increase of 4 basis points from the previous quarter and a decrease of 7 basis points from the same quarter of 2023. The increases from the prior quarter were primarily due to higher earning asset yields, partially offset by higher funding costs. The decreases from the same period in 2023 were primarily due to higher funding costs, partially offset by higher earning asset yields.

    The average yield on loans and leases was 4.76% in the second quarter of 2024, up 13 basis points from the prior quarter and up 57 basis points from the same quarter of 2023. The average yield on total earning assets was 3.99% in the second quarter of 2024, up 10 basis points from the prior quarter and up 43 basis points from the same quarter of 2023. The average cost of interest-bearing deposits was 2.46% in the second quarter of 2024, up 7 basis points from the prior quarter and up 92 basis points from the same quarter of 2023. The average cost of total deposits, including noninterest-bearing deposits, was 1.81%, up 7 basis points from the prior quarter and up 73 basis points from the same quarter of 2023. The changes in yields and rates over the linked quarter and year over year period reflected deposit mix shift and repricing.

    Noninterest income was $42.1 million in the second quarter of 2024, a decrease of 0.5% from the previous quarter and a decrease of 2.7% from the same period in 2023. Noninterest income in the second quarter of 2023 included $1.5 million from the sale of a low-income housing tax credit investment. Adjusted for this item, noninterest income increased by 0.9% from adjusted noninterest income in the same period in 2023.

    Noninterest expense was $109.2 million in the second quarter of 2024, an increase of 3.2% from the previous quarter and an increase of 5.0% from the same quarter of 2023. As discussed above, noninterest expense in the second quarter of 2024 included an industry-wide FDIC Special Assessment of $2.6 million, as well as separation expenses of $0.8 million, while noninterest expense in the first quarter of 2024 included seasonal payroll expenses of approximately $2.2 million and separation expenses of $0.5 million. Adjusted noninterest expense in the second quarter of 2024 was $105.9 million, up 2.6% from adjusted noninterest expense in the previous quarter and up 1.8% from the same period in 2023.

    The effective tax rate for the second quarter of 2024 was 24.77% compared with 24.76% in the previous quarter and 24.57% during the same quarter of 2023.

    Asset Quality

    The Company's overall asset quality remained strong during the second quarter of 2024. Provision for credit losses for the second quarter of 2024 was $2.4 million compared with $2.0 million in the previous quarter and $2.5 million in the same quarter of 2023.

    Total non-performing assets were $15.2 million at June 30, 2024, up $3.3 million from March 31, 2024 and up $3.7 million from June 30, 2023. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.11% at the end of the quarter, an increase of 2 basis points from the end of the prior quarter and an increase of 3 basis points from the same quarter of 2023.

    Net loan and lease charge-offs during the second quarter of 2024 were $3.4 million or 10 basis points annualized of total average loans and leases outstanding. Net loan and lease charge-offs for the second quarter of 2024 were comprised of charge-offs of $4.8 million partially offset by recoveries of $1.4 million. Compared to the prior quarter, net loan and lease charge-offs increased by $1.1 million or 3 basis points annualized on total average loans and leases outstanding. Compared to the same quarter of 2023, net loan and lease charge-offs increased by $2.0 million or 6 basis points annualized on total average loans and leases outstanding.

    The allowance for credit losses on loans and leases was $147.5 million at June 30, 2024, a decrease of $0.2 million from March 31, 2024 and an increase of $2.1 million from June 30, 2023. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.07% at the end of the quarter, flat from the end of the prior quarter and up 3 basis points from the same quarter of 2023.

    Balance Sheet

    Total assets were $23.3 billion at June 30, 2024, a decrease of 0.5% from March 31, 2024 and a decrease of 6.6% from June 30, 2023. The decrease from the prior quarter was primarily due to decreases in investment securities and funds sold partially offset by an increase in cash and due from banks. The decrease from the same period in 2023 was primarily due to decreases in our investment securities and funds sold.

    The investment securities portfolio was $7.1 billion at June 30, 2024, a decrease of 2.1% from March 31, 2024 and a decrease of 9.6% from June 30, 2023. This linked quarter decrease was primarily due to cashflows from the portfolio not being reinvested into securities. The decrease from the same quarter of 2023 was due to the sale of $159.1 million of investment securities in the third quarter of 2023, as well as cashflows from the portfolio not being reinvested into securities. The investment portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises.

    Total loans and leases were $13.8 billion at June 30, 2024, a decrease of 0.2% from March 31, 2024 and a decrease of 0.6% from June 30, 2023. Total commercial loans were $5.8 billion at June 30, 2024, an increase of 0.7% from the prior quarter and an increase of 3.6% from the same quarter of 2023. The increase from the prior quarter was primarily due to increases in commercial mortgage and commercial and industrial portfolios. The increase from the same period in 2023 was primarily due to increases in our commercial and industrial and construction portfolios, partially offset by a decrease in commercial mortgage. Total consumer loans were $8.0 billion at June 30, 2024, a decrease of 0.8% from the prior quarter and a decrease of 3.5% from the same period in 2023. The decreases were primarily due to decreases in our residential mortgage, home equity and automobile portfolios.

    Total deposits were $20.4 billion at June 30, 2024, a decrease of 1.3% from March 31, 2024 and a decrease of 0.5% from June 30, 2023. Noninterest-bearing deposits made up 26% of total deposit balances at June 30, 2024, down from 27% at March 31, 2024 and down from 29% at June 30, 2023. Average total deposits were $20.4 billion for the second quarter of 2024, down 0.9% from $20.5 billion in the prior quarter and up 1.7% from $20.0 billion in the second quarter of 2023. Insured and uninsured but collateralized deposits represented 59% of total deposit balances at June 30, 2024, up from 58% at March 31, 2024 and down from 61% at June 30, 2023. At the end of the quarter, our readily available liquidity of $10.0 billion exceeded total uninsured and uncollateralized deposits.

    Capital and Dividends

    The Company's capital levels increased quarter over quarter and remain well above regulatory well-capitalized minimums.

    In the second quarter of 2024, the Company issued $165 million of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, at a rate of 8.000%. The Company received net proceeds from the offering of $160.6 million after issuance cost.

    The Tier 1 Capital Ratio was 13.99% at June 30, 2024 compared with 12.74% at March 31, 2024 and 12.21% at June 30, 2023. The Tier 1 Leverage Ratio was 8.37% at June 30, 2024, up 75 basis points from 7.62% at March 31, 2024 and up 116 basis points from 7.21% at June 30, 2023. The increases were primarily due to higher Tier 1 capital as a result of the Series B Preferred Stock offering, discussed above, retained earnings growth and decreases in risk-weighted assets and average total assets.

    No shares of common stock were repurchased under the share repurchase program in the second quarter of 2024. Total remaining buyback authority under the share repurchase program was $126.0 million at June 30, 2024.

    The Company's Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company's outstanding common shares. The dividend will be payable on September 16, 2024 to shareholders of record at the close of business on August 30, 2024.

    On July 8, 2024, 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 $8.89 per share, equivalent to $0.2223 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 August 1, 2024 to shareholders of record of the preferred stock as of the close of business on July 18, 2024.

    Conference Call Information

    The Company will review its second quarter financial results today at 8:00 a.m. Hawai‘i Time (2:00 p.m. Eastern Time). The 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.vevent.com/register/BI199e7796d16b4ac8844dd7c346201625. A replay of the conference call will be available for one year beginning approximately 11:00 a.m. Hawai‘i Time on Monday, July 22, 2024. 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, 2023 and its Form 10-Q for fiscal quarter ended March 31, 2024, 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

     

    Six Months Ended

    June 30,

     

    March 31,

     

    June 30,

     

    June 30,

     

    (dollars in thousands, except per share amounts)

     

    2024

     

     

    2024

     

     

    2023

     

     

    2024

     

     

    2023

     

    For the Period:
    Operating Results
    Net Interest Income

    $

    114,846

    $

    113,938

    $

    124,348

    $

    228,784

    $

    260,303

    Provision for Credit Losses

     

    2,400

     

    2,000

     

    2,500

     

    4,400

     

    4,500

    Total Noninterest Income

     

    42,087

     

    42,285

     

    43,255

     

    84,372

     

    83,992

    Total Noninterest Expense

     

    109,226

     

    105,859

     

    104,036

     

    215,085

     

    215,955

    Pre-Provision Net Revenue

     

    47,707

     

    50,364

     

    63,567

     

    98,071

     

    128,340

    Net Income

     

    34,083

     

    36,391

     

    46,061

     

    70,474

     

    92,903

    Net Income Available to Common Shareholders 1

     

    32,114

     

    34,422

     

    44,092

     

    66,536

     

    88,965

    Basic Earnings Per Common Share

     

    0.81

     

    0.87

     

    1.12

     

    1.69

     

    2.27

    Diluted Earnings Per Common Share

     

    0.81

     

    0.87

     

    1.12

     

    1.68

     

    2.26

    Dividends Declared Per Common Share

     

    0.70

     

    0.70

     

    0.70

     

    1.40

     

    1.40

     
    Performance Ratios
    Return on Average Assets

     

    0.59

    %

     

    0.63

    %

     

    0.77

    %

     

    0.61

    %

     

    0.78

    %

    Return on Average Shareholders' Equity

     

    9.53

     

    10.34

     

    13.55

     

    9.93

     

    13.90

    Return on Average Common Equity

     

    10.41

     

    11.20

     

    14.95

     

    10.81

     

    15.36

    Efficiency Ratio 2

     

    69.60

     

    67.76

     

    62.07

     

    68.68

     

    62.72

    Net Interest Margin 3

     

    2.15

     

    2.11

     

    2.22

     

    2.13

     

    2.34

    Dividend Payout Ratio 4

     

    86.42

     

    80.46

     

    62.50

     

    82.84

     

    61.67

    Average Shareholders' Equity to Average Assets

     

    6.22

     

    6.08

     

    5.65

     

    6.15

     

    5.62

     
    Average Balances
    Average Loans and Leases

    $

    13,831,797

    $

    13,868,800

    $

    13,876,754

    $

    13,850,299

    $

    13,797,559

    Average Assets

     

    23,145,107

     

    23,281,566

     

    24,114,443

     

    23,213,336

     

    23,990,649

    Average Deposits

     

    20,358,393

     

    20,543,640

     

    20,018,601

     

    20,451,017

     

    20,223,603

    Average Shareholders' Equity

     

    1,438,476

     

    1,416,102

     

    1,363,059

     

    1,427,289

     

    1,348,057

     
    Per Share of Common Stock
    Book Value

    $

    31.91

    $

    31.62

    $

    29.66

    $

    31.91

    $

    29.66

    Tangible Book Value

     

    31.12

     

    30.83

     

    28.87

     

    31.12

     

    28.87

    Market Value
    Closing

     

    57.21

     

    62.39

     

    41.23

     

    57.21

     

    41.23

    High

     

    62.53

     

    73.73

     

    52.37

     

    73.73

     

    81.73

    Low

     

    54.50

     

    58.38

     

    30.83

     

    54.50

     

    30.83

     
    June 30, March 31, December 31, June 30,

     

    2024

     

     

    2024

     

     

    2023

     

     

    2023

    As of Period End:
    Balance Sheet Totals
    Loans and Leases

    $

    13,831,266

    $

    13,853,837

    $

    13,965,026

    $

    13,914,889

    Total Assets

     

    23,300,768

     

    23,420,860

     

    23,733,296

     

    24,947,936

    Total Deposits

     

    20,408,502

     

    20,676,586

     

    21,055,045

     

    20,508,615

    Other Debt

     

    560,136

     

    560,163

     

    560,190

     

    1,760,243

    Total Shareholders' Equity

     

    1,612,849

     

    1,435,977

     

    1,414,242

     

    1,358,279

     
    Asset Quality
    Non-Performing Assets

    $

    15,179

    $

    11,838

    $

    11,747

    $

    11,477

    Allowance for Credit Losses - Loans and Leases

     

    147,477

     

    147,664

     

    146,403

     

    145,367

    Allowance to Loans and Leases Outstanding 5

     

    1.07

    %

     

    1.07

    %

     

    1.05

    %

     

    1.04

    %

     
    Capital Ratios 6
    Common Equity Tier 1 Capital Ratio

     

    11.59

    %

     

    11.50

    %

     

    11.33

    %

     

    11.00

    %

    Tier 1 Capital Ratio

     

    13.99

     

    12.74

     

    12.56

     

    12.21

    Total Capital Ratio

     

    15.05

     

    13.81

     

    13.60

     

    13.24

    Tier 1 Leverage Ratio

     

    8.37

     

    7.62

     

    7.51

     

    7.21

    Total Shareholders' Equity to Total Assets

     

    6.92

     

    6.13

     

    5.96

     

    5.44

    Tangible Common Equity to Tangible Assets 7

     

    5.31

     

    5.24

     

    5.07

     

    4.60

    Tangible Common Equity to Risk-Weighted Assets 7

     

    8.82

     

    8.70

     

    8.45

     

    7.97

     
    Non-Financial Data
    Full-Time Equivalent Employees

     

    1,910

     

    1,891

     

    1,899

     

    2,025

    Branches

     

    50

     

    50

     

    51

     

    51

    ATMs

     

    317

     

    315

     

    318

     

    320

     
    1 Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.
    2 Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).
    3 Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.
    4 Dividend payout ratio is defined as dividends declared per common share divided by basic earnings per common share.
    5 The numerator comprises the Allowance for Credit Losses - Loans and Leases.
    6 Regulatory capital ratios as of June 30, 2024 are preliminary.
    7 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

    June 30,

    March 31,

    December 31,

    June 30,

    (dollars in thousands)

     

    2024

     

     

    2024

     

     

    2023

     

     

    2023

     

     
    Total Shareholders' Equity

    $

    1,612,849

     

    $

    1,435,977

     

    $

    1,414,242

     

    $

    1,358,279

     

    Less: Preferred Stock

     

    345,000

     

     

    180,000

     

     

    180,000

     

     

    180,000

     

    Goodwill

     

    31,517

     

     

    31,517

     

     

    31,517

     

     

    31,517

     

    Tangible Common Equity

    $

    1,236,332

     

    $

    1,224,460

     

    $

    1,202,725

     

    $

    1,146,762

     

     
    Total Assets

    $

    23,300,768

     

    $

    23,420,860

     

    $

    23,733,296

     

    $

    24,947,936

     

    Less: Goodwill

     

    31,517

     

     

    31,517

     

     

    31,517

     

     

    31,517

     

    Tangible Assets

    $

    23,269,251

     

    $

    23,389,343

     

    $

    23,701,779

     

    $

    24,916,419

     

     
     
    Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1

    $

    14,021,387

     

    $

    14,071,841

     

    $

    14,226,780

     

    $

    14,391,943

     

     
    Total Shareholders' Equity to Total Assets

     

    6.92

    %

     

    6.13

    %

     

    5.96

    %

     

    5.44

    %

    Tangible Common Equity to Tangible Assets (Non-GAAP)

     

    5.31

    %

     

    5.24

    %

     

    5.07

    %

     

    4.60

    %

     
    Tier 1 Capital Ratio 1

     

    13.99

    %

     

    12.74

    %

     

    12.56

    %

     

    12.21

    %

    Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1

     

    8.82

    %

     

    8.70

    %

     

    8.45

    %

     

    7.97

    %

     
    1 Regulatory capital ratios as of June 30, 2024 are preliminary.
    Bank of Hawai‘i Corporation and Subsidiaries
    Consolidated Statements of Income Table 3

    Three Months Ended

     

    Six Months Ended

    June 30,

    March 31,

    June 30,

     

    June 30,

    (dollars in thousands, except per share amounts)

     

    2024

     

     

    2024

     

     

    2023

     

     

     

    2024

     

     

    2023

     

    Interest Income
    Interest and Fees on Loans and Leases

    $

    163,208

     

    $

    159,336

     

    $

    144,541

     

    $

    322,544

     

    $

    281,042

     

    Income on Investment Securities
    Available-for-Sale

     

    21,468

     

     

    21,757

     

     

    23,301

     

     

    43,225

     

     

    47,194

     

    Held-to-Maturity

     

    21,595

     

     

    22,136

     

     

    23,375

     

     

    43,731

     

     

    47,323

     

    Deposits

     

    25

     

     

    30

     

     

    18

     

     

    55

     

     

    45

     

    Funds Sold

     

    6,114

     

     

    6,127

     

     

    6,395

     

     

    12,241

     

     

    9,761

     

    Other

     

    1,120

     

     

    970

     

     

    2,121

     

     

    2,090

     

     

    2,718

     

    Total Interest Income

     

    213,530

     

     

    210,356

     

     

    199,751

     

     

    423,886

     

     

    388,083

     

    Interest Expense
    Deposits

     

    91,542

     

     

    89,056

     

     

    53,779

     

     

    180,598

     

     

    91,573

     

    Securities Sold Under Agreements to Repurchase

     

    1,180

     

     

    1,443

     

     

    5,436

     

     

    2,623

     

     

    10,813

     

    Funds Purchased

     

    44

     

     

    -

     

     

    184

     

     

    44

     

     

    888

     

    Short-Term Borrowings

     

    -

     

     

    -

     

     

    2,510

     

     

    -

     

     

    5,713

     

    Other Debt

     

    5,918

     

     

    5,919

     

     

    13,494

     

     

    11,837

     

     

    18,793

     

    Total Interest Expense

     

    98,684

     

     

    96,418

     

     

    75,403

     

     

    195,102

     

     

    127,780

     

    Net Interest Income

     

    114,846

     

     

    113,938

     

     

    124,348

     

     

    228,784

     

     

    260,303

     

    Provision for Credit Losses

     

    2,400

     

     

    2,000

     

     

    2,500

     

     

    4,400

     

     

    4,500

     

    Net Interest Income After Provision for Credit Losses

     

    112,446

     

     

    111,938

     

     

    121,848

     

     

    224,384

     

     

    255,803

     

    Noninterest Income
    Trust and Asset Management

     

    12,223

     

     

    11,189

     

     

    11,215

     

     

    23,412

     

     

    21,905

     

    Mortgage Banking

     

    1,028

     

     

    951

     

     

    1,176

     

     

    1,979

     

     

    2,180

     

    Service Charges on Deposit Accounts

     

    7,730

     

     

    7,947

     

     

    7,587

     

     

    15,677

     

     

    15,324

     

    Fees, Exchange, and Other Service Charges

     

    13,769

     

     

    14,123

     

     

    14,150

     

     

    27,892

     

     

    27,958

     

    Investment Securities Losses, Net

     

    (1,601

    )

     

    (1,497

    )

     

    (1,310

    )

     

    (3,098

    )

     

    (3,102

    )

    Annuity and Insurance

     

    1,583

     

     

    1,046

     

     

    1,038

     

     

    2,629

     

     

    2,309

     

    Bank-Owned Life Insurance

     

    3,396

     

     

    3,356

     

     

    2,876

     

     

    6,752

     

     

    5,718

     

    Other

     

    3,959

     

     

    5,170

     

     

    6,523

     

     

    9,129

     

     

    11,700

     

    Total Noninterest Income

     

    42,087

     

     

    42,285

     

     

    43,255

     

     

    84,372

     

     

    83,992

     

    Noninterest Expense
    Salaries and Benefits

     

    57,033

     

     

    58,215

     

     

    56,175

     

     

    115,248

     

     

    121,263

     

    Net Occupancy

     

    10,559

     

     

    10,456

     

     

    9,991

     

     

    21,015

     

     

    19,863

     

    Net Equipment

     

    10,355

     

     

    10,103

     

     

    10,573

     

     

    20,458

     

     

    20,948

     

    Data Processing

     

    4,745

     

     

    4,770

     

     

    4,599

     

     

    9,515

     

     

    9,182

     

    Professional Fees

     

    4,929

     

     

    4,677

     

     

    4,651

     

     

    9,606

     

     

    8,534

     

    FDIC Insurance

     

    7,170

     

     

    3,614

     

     

    3,173

     

     

    10,784

     

     

    6,407

     

    Other

     

    14,435

     

     

    14,024

     

     

    14,874

     

     

    28,459

     

     

    29,758

     

    Total Noninterest Expense

     

    109,226

     

     

    105,859

     

     

    104,036

     

     

    215,085

     

     

    215,955

     

    Income Before Provision for Income Taxes

     

    45,307

     

     

    48,364

     

     

    61,067

     

     

    93,671

     

     

    123,840

     

    Provision for Income Taxes

     

    11,224

     

     

    11,973

     

     

    15,006

     

     

    23,197

     

     

    30,937

     

    Net Income

    $

    34,083

     

    $

    36,391

     

    $

    46,061

     

    $

    70,474

     

    $

    92,903

     

    Preferred Stock Dividends

     

    1,969

     

     

    1,969

     

     

    1,969

     

     

    3,938

     

     

    3,938

     

    Net Income Available to Common Shareholders

    $

    32,114

     

    $

    34,422

     

    $

    44,092

     

    $

    66,536

     

    $

    88,965

     

    Basic Earnings Per Common Share

    $

    0.81

     

    $

    0.87

     

    $

    1.12

     

    $

    1.69

     

    $

    2.27

     

    Diluted Earnings Per Common Share

    $

    0.81

     

    $

    0.87

     

    $

    1.12

     

    $

    1.68

     

    $

    2.26

     

    Dividends Declared Per Common Share

    $

    0.70

     

    $

    0.70

     

    $

    0.70

     

    $

    1.40

     

    $

    1.40

     

    Basic Weighted Average Common Shares

     

    39,450,551

     

     

    39,350,390

     

     

    39,241,559

     

     

    39,400,452

     

     

    39,259,279

     

    Diluted Weighted Average Common Shares

     

    39,618,705

     

     

    39,626,463

     

     

    39,317,521

     

     

    39,618,774

     

     

    39,382,359

     

    Bank of Hawai‘i Corporation and Subsidiaries
    Consolidated Statements of Comprehensive Income Table 4

    Three Months Ended

     

    Six Months Ended

    June 30,

    March 31,

    June 30,

     

    June 30,

    (dollars in thousands)

     

    2024

     

    2024

     

    2023

     

     

     

    2024

     

    2023

    Net Income

    $

    34,083

    $

    36,391

    $

    46,061

     

    $

    70,474

    $

    92,903

    Other Comprehensive Income (Loss), Net of Tax:
    Net Unrealized Gains (Losses) on Investment Securities

     

    9,052

     

    12,938

     

    (18,217

    )

     

    21,990

     

    11,059

    Defined Benefit Plans

     

    168

     

    169

     

    84

     

     

    337

     

    168

    Other Comprehensive Income (Loss), Net of Tax:

     

    9,220

     

    13,107

     

    (18,133

    )

     

    22,327

     

    11,227

    Comprehensive Income

    $

    43,303

    $

    49,498

    $

    27,928

     

    $

    92,801

    $

    104,130

    Bank of Hawai‘i Corporation and Subsidiaries
    Consolidated Statements of Condition Table 5

    June 30,

    March 31,

    December 31,

    June 30,

    (dollars in thousands)

     

    2024

     

     

    2024

     

     

    2023

     

     

    2023

     

    Assets
    Interest-Bearing Deposits in Other Banks

    $

    3,259

     

    $

    2,742

     

    $

    2,761

     

    $

    2,261

     

    Funds Sold

     

    624,089

     

     

    673,489

     

     

    690,112

     

     

    1,273,109

     

    Investment Securities
    Available-for-Sale

     

    2,298,092

     

     

    2,352,051

     

     

    2,408,933

     

     

    2,666,723

     

    Held-to-Maturity (Fair Value of $4,002,122; $4,104,622; $4,253,637; and $4,411,003)

     

    4,812,954

     

     

    4,913,457

     

     

    4,997,335

     

     

    5,202,698

     

    Loans Held for Sale

     

    2,664

     

     

    2,182

     

     

    3,124

     

     

    3,359

     

    Loans and Leases

     

    13,831,266

     

     

    13,853,837

     

     

    13,965,026

     

     

    13,914,889

     

    Allowance for Credit Losses

     

    (147,477

    )

     

    (147,664

    )

     

    (146,403

    )

     

    (145,367

    )

    Net Loans and Leases

     

    13,683,789

     

     

    13,706,173

     

     

    13,818,623

     

     

    13,769,522

     

    Total Earning Assets

     

    21,424,847

     

     

    21,650,094

     

     

    21,920,888

     

     

    22,917,672

     

    Cash and Due from Banks

     

    297,990

     

     

    215,290

     

     

    308,071

     

     

    398,072

     

    Premises and Equipment, Net

     

    192,319

     

     

    192,486

     

     

    194,855

     

     

    200,297

     

    Operating Lease Right-of-Use Assets

     

    84,757

     

     

    85,501

     

     

    86,110

     

     

    89,286

     

    Accrued Interest Receivable

     

    67,554

     

     

    67,887

     

     

    66,525

     

     

    64,720

     

    Foreclosed Real Estate

     

    2,672

     

     

    2,672

     

     

    2,098

     

     

    1,040

     

    Mortgage Servicing Rights

     

    19,954

     

     

    20,422

     

     

    20,880

     

     

    21,626

     

    Goodwill

     

    31,517

     

     

    31,517

     

     

    31,517

     

     

    31,517

     

    Bank-Owned Life Insurance

     

    470,708

     

     

    468,206

     

     

    462,894

     

     

    456,889

     

    Other Assets

     

    708,450

     

     

    686,785

     

     

    639,458

     

     

    766,817

     

    Total Assets

    $

    23,300,768

     

    $

    23,420,860

     

    $

    23,733,296

     

    $

    24,947,936

     

     
    Liabilities
    Deposits
    Noninterest-Bearing Demand

    $

    5,371,593

     

    $

    5,542,930

     

    $

    6,058,554

     

    $

    5,968,344

     

    Interest-Bearing Demand

     

    3,928,295

     

     

    3,823,224

     

     

    3,749,717

     

     

    4,119,166

     

    Savings

     

    8,207,902

     

     

    8,231,245

     

     

    8,189,472

     

     

    7,756,426

     

    Time

     

    2,900,712

     

     

    3,079,187

     

     

    3,057,302

     

     

    2,664,679

     

    Total Deposits

     

    20,408,502

     

     

    20,676,586

     

     

    21,055,045

     

     

    20,508,615

     

    Securities Sold Under Agreements to Repurchase

     

    100,490

     

     

    150,490

     

     

    150,490

     

     

    725,490

     

    Other Debt

     

    560,136

     

     

    560,163

     

     

    560,190

     

     

    1,760,243

     

    Operating Lease Liabilities

     

    93,364

     

     

    94,104

     

     

    94,693

     

     

    97,768

     

    Retirement Benefits Payable

     

    23,142

     

     

    23,365

     

     

    23,673

     

     

    26,434

     

    Accrued Interest Payable

     

    37,278

     

     

    37,081

     

     

    41,023

     

     

    26,737

     

    Taxes Payable

     

    5,289

     

     

    7,378

     

     

    7,636

     

     

    132

     

    Other Liabilities

     

    459,718

     

     

    435,716

     

     

    386,304

     

     

    444,238

     

    Total Liabilities

     

    21,687,919

     

     

    21,984,883

     

     

    22,319,054

     

     

    23,589,657

     

    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

     

     

    -

     

     

    -

     

     

    -

     

    Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: June 30, 2024 - 58,765,907 / 39,729,941; March 31, 2024 - 58,753,708 / 39,720,724; December 31, 2023 - 58,755,465 / 39,753,138; and June 30, 2023 - 58,771,036 / 39,725,348)

     

    585

     

     

    584

     

     

    583

     

     

    583

     

    Capital Surplus

     

    639,841

     

     

    640,663

     

     

    636,422

     

     

    628,202

     

    Accumulated Other Comprehensive Loss

     

    (374,361

    )

     

    (383,581

    )

     

    (396,688

    )

     

    (423,431

    )

    Retained Earnings

     

    2,119,140

     

     

    2,114,729

     

     

    2,107,569

     

     

    2,091,289

     

    Treasury Stock, at Cost (Shares: June 30, 2024 - 19,035,966; March 31, 2024 - 19,032,984; December 31, 2023 - 19,002,327; and June 30, 2023 - 19,045,688)

     

    (1,117,356

    )

     

    (1,116,418

    )

     

    (1,113,644

    )

     

    (1,118,364

    )

    Total Shareholders' Equity

     

    1,612,849

     

     

    1,435,977

     

     

    1,414,242

     

     

    1,358,279

     

    Total Liabilities and Shareholders' Equity

    $

    23,300,768

     

    $

    23,420,860

     

    $

    23,733,296

     

    $

    4,947,936

     

    Bank of Hawai‘i Corporation and Subsidiaries
    Consolidated Statements of Shareholders' Equity Table 6
    Accumulated
    Preferred Preferred Other
    Shares Preferred Shares Preferred Common Comprehensive
    Series A Series A Series B Series B Shares Common Capital Income Retained Treasury
    (dollars in thousands) Outstanding Stock Outstanding Stock Outstanding Stock Surplus (Loss) Earnings Stock Total
    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

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    -

     

     

    70,474

     

     

    -

     

     

    70,474

     

    Other Comprehensive Income

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    22,327

     

     

    -

     

     

    -

     

     

    22,327

     

    Share-Based Compensation

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    7,505

     

     

    -

     

     

    -

     

     

    -

     

     

    7,505

     

    Preferred Stock Issued, Net

    -

     

    -

    165,000

     

    165,000

    -

     

     

    -

     

    (4,386

    )

     

    -

     

     

    -

     

     

    -

     

     

    160,614

     

    Common Stock Issued under Purchase and
    Equity Compensation Plans

    -

     

    -

    -

     

    -

    57,972

     

     

    2

     

    300

     

     

    -

     

     

    1,152

     

     

    1,283

     

     

    2,737

     

    Common Stock Repurchased

    -

     

    -

    -

     

    -

    (81,169

    )

     

    -

     

    -

     

     

    -

     

     

    -

     

     

    (4,995

    )

     

    (4,995

    )

    Cash Dividends Declared Common Stock ($1.40 per share)

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    -

     

     

    (56,117

    )

     

    -

     

     

    (56,117

    )

    Cash Dividends Declared Preferred Stock

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    -

     

     

    (3,938

    )

     

    -

     

     

    (3,938

    )

    Balance as of June 30, 2024

    180,000

    $

    180,000

    165,000

    $

    165,000

    39,729,941

     

    $

    585

    $

    639,841

     

    $

    (374,361

    )

    $

    2,119,140

     

    $

    (1,117,356

    )

    $

    1,612,849

     

     
    Balance as of December 31, 2022

    180,000

    $

    180,000

    -

    $

    -

    39,835,750

     

    $

    582

    $

    620,578

     

    $

    (434,658

    )

    $

    2,055,912

     

    $

    (1,105,419

    )

    $

    1,316,995

     

    Net Income

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    -

     

     

    92,903

     

     

    -

     

     

    92,903

     

    Other Comprehensive Income

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    11,227

     

     

    -

     

     

    -

     

     

    11,227

     

    Share-Based Compensation

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    7,672

     

     

    -

     

     

    -

     

     

    -

     

     

    7,672

     

    Common Stock Issued under Purchase and
    Equity Compensation Plans

    -

     

    -

    -

     

    -

    94,765

     

     

    1

     

    (48

    )

     

    -

     

     

    2,286

     

     

    986

     

     

    3,225

     

    Common Stock Repurchased

    -

     

    -

    -

     

    -

    (205,167

    )

     

    -

     

    -

     

     

    -

     

     

    -

     

     

    (13,931

    )

     

    (13,931

    )

    Cash Dividends Declared Common Stock ($1.40 per share)

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    -

     

     

    (55,874

    )

     

    -

     

     

    (55,874

    )

    Cash Dividends Declared Preferred Stock

    -

     

    -

    -

     

    -

    -

     

     

    -

     

    -

     

     

    -

     

     

    (3,938

    )

     

    -

     

     

    (3,938

    )

    Balance as of June 30, 2023

    180,000

    $

    180,000

    -

    $

    -

    39,725,348

     

    $

    583

    $

    628,202

     

    $

    (423,431

    )

    $

    2,091,289

     

    $

    (1,118,364

    )

    $

    1,358,279

     

    Bank of Hawai‘i Corporation and Subsidiaries
    Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 7a
    Three Months Ended Three Months Ended Three Months Ended
    June 30, 2024 March 31, 2024 June 30, 2023
    Average Income / Yield / Average Income / Yield / Average Income / Yield /
    (dollars in millions) Balance Expense 2 Rate Balance Expense 2 Rate Balance Expense 2 Rate
    Earning Assets
    Interest-Bearing Deposits in Other Banks

    $

    4.3

    $

    -

    2.40

    %

    $

    4.8

    $

    -

    2.51

    %

    $

    5.1

    $

    -

    1.48

    %

    Funds Sold

     

    455.8

     

    6.1

    5.31

     

    455.9

     

    6.1

    5.32

     

    500.1

     

    6.4

    5.06

    Investment Securities
    Available-for-Sale
    Taxable

     

    2,308.3

     

    21.5

    3.73

     

    2,380.4

     

    21.8

    3.66

     

    2,741.1

     

    23.2

    3.39

    Non-Taxable

     

    1.6

     

    -

    2.01

     

    1.7

     

    -

    1.99

     

    9.6

     

    0.1

    4.40

    Held-to-Maturity
    Taxable

     

    4,837.2

     

    21.4

    1.77

     

    4,926.8

     

    21.9

    1.79

     

    5,231.3

     

    23.2

    1.78

    Non-Taxable

     

    34.6

     

    0.2

    2.10

     

    34.7

     

    0.2

    2.10

     

    35.2

     

    0.2

    2.10

    Total Investment Securities

     

    7,181.7

     

    43.1

    2.40

     

    7,343.6

     

    43.9

    2.40

     

    8,017.2

     

    46.7

    2.33

    Loans Held for Sale

     

    1.4

     

    -

    6.30

     

    2.2

     

    -

    6.17

     

    2.7

     

    -

    5.50

    Loans and Leases 3
    Commercial and Industrial

     

    1,683.2

     

    22.3

    5.34

     

    1,652.5

     

    22.0

    5.36

     

    1,456.1

     

    17.5

    4.82

    Paycheck Protection Program

     

    9.5

     

    0.1

    2.24

     

    10.8

     

    -

    1.40

     

    14.5

     

    -

    1.30

    Commercial Mortgage

     

    3,723.6

     

    51.6

    5.57

     

    3,716.6

     

    50.5

    5.46

     

    3,814.9

     

    49.3

    5.19

    Construction

     

    321.3

     

    6.3

    7.85

     

    307.9

     

    5.6

    7.27

     

    246.8

     

    3.5

    5.70

    Commercial Lease Financing

     

    59.3

     

    0.3

    2.28

     

    58.4

     

    0.3

    1.87

     

    65.4

     

    0.3

    1.67

    Residential Mortgage

     

    4,595.2

     

    45.6

    3.97

     

    4,649.9

     

    45.0

    3.87

     

    4,704.0

     

    41.2

    3.50

    Home Equity

     

    2,231.7

     

    21.8

    3.92

     

    2,250.1

     

    21.1

    3.78

     

    2,272.3

     

    19.0

    3.35

    Automobile

     

    813.5

     

    9.1

    4.52

     

    831.0

     

    8.9

    4.30

     

    879.3

     

    7.7

    3.53

    Other 4

     

    394.5

     

    6.8

    6.95

     

    391.6

     

    6.5

    6.66

     

    423.5

     

    6.4

    6.04

    Total Loans and Leases

     

    13,831.8

     

    163.9

    4.76

     

    13,868.8

     

    159.9

    4.63

     

    13,876.8

     

    144.9

    4.19

    Other

     

    62.5

     

    1.2

    7.18

     

    62.3

     

    1.1

    6.23

     

    94.8

     

    2.2

    8.94

    Total Earning Assets

     

    21,537.5

     

    214.3

    3.99

     

    21,737.6

     

    211.0

    3.89

     

    22,496.7

     

    200.2

    3.56

    Cash and Due from Banks

     

    233.4

     

    240.8

     

    316.6

    Other Assets

     

    1,374.2

     

    1,303.2

     

    1,301.1

    Total Assets

    $

    23,145.1

    $

    23,281.6

    $

    24,114.4

     
    Interest-Bearing Liabilities
    Interest-Bearing Deposits
    Demand

    $

    3,788.5

     

    8.8

    0.94

    $

    3,764.2

     

    7.7

    0.82

    $

    4,037.4

     

    7.5

    0.75

    Savings

     

    8,259.2

     

    52.0

    2.53

     

    8,131.3

     

    49.4

    2.44

     

    7,667.6

     

    26.6

    1.39

    Time

     

    2,935.9

     

    30.7

    4.20

     

    3,081.1

     

    32.0

    4.18

     

    2,296.1

     

    19.7

    3.44

    Total Interest-Bearing Deposits

     

    14,983.6

     

    91.5

    2.46

     

    14,976.6

     

    89.1

    2.39

     

    14,001.1

     

    53.8

    1.54

    Funds Purchased

     

    3.2

     

    -

    5.37

     

    -

     

    -

    -

     

    14.6

     

    0.2

    5.00

    Short-Term Borrowings

     

    -

     

    -

    5.40

     

    -

     

    -

    -

     

    195.2

     

    2.5

    5.09

    Securities Sold Under Agreements to Repurchase

     

    121.9

     

    1.2

    3.83

     

    150.5

     

    1.4

    3.79

     

    725.5

     

    5.4

    2.96

    Other Debt

     

    560.2

     

    6.0

    4.25

     

    560.1

     

    5.9

    4.25

     

    1,255.8

     

    13.5

    4.31

    Total Interest-Bearing Liabilities

     

    15,668.9

     

    98.7

    2.53

     

    15,687.2

     

    96.4

    2.47

     

    16,192.2

     

    75.4

    1.87

    Net Interest Income

    $

    115.6

    $

    114.6

    $

    124.8

    Interest Rate Spread

    1.46

    %

    1.42

    %

    1.69

    %

    Net Interest Margin

    2.15

    %

    2.11

    %

    2.22

    %

    Noninterest-Bearing Demand Deposits

     

    5,374.8

     

    5,567.0

     

    6,017.5

    Other Liabilities

     

    662.9

     

    611.3

     

    541.6

    Shareholders' Equity

     

    1,438.5

     

    1,416.1

     

    1,363.1

    Total Liabilities and Shareholders' Equity

    $

    23,145.1

    $

    23,281.6

    $

    24,114.4

     
    1 Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.
    2 Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $774,000, $690,000, and $471,000
    for the three months ended June 30, 2024, March 31, 2024, and June 30, 2023, respectively.
    3 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.
    4 Comprised of other consumer revolving credit, installment, and consumer lease financing.
    Bank of Hawai‘i Corporation and Subsidiaries
    Average Balances and Interest Rates - Taxable-Equivalent Basis 1 Table 7b
    Six Months Ended Six Months Ended
    June 30, 2024 June 30, 2023
    Average Income / Yield / Average Income / Yield /
    (dollars in millions) Balance Expense 2 Rate Balance Expense 2 Rate
    Earning Assets
    Interest-Bearing Deposits in Other Banks

    $

    4.5

    $

    0.1

    2.46

    %

    $

    3.4

    $

    -

    2.68

    %

    Funds Sold

     

    455.9

     

    12.2

    5.31

     

    398.6

     

    9.8

    4.87

    Investment Securities
    Available-for-Sale
    Taxable

     

    2,344.3

     

    43.2

    3.69

     

    2,780.4

     

    47.0

    3.40

    Non-Taxable

     

    1.7

     

    -

    2.00

     

    9.6

     

    0.2

    4.39

    Held-to-Maturity
    Taxable

     

    4,882.0

     

    43.4

    1.78

     

    5,283.6

     

    47.0

    1.78

    Non-Taxable

     

    34.7

     

    0.4

    2.10

     

    35.2

     

    0.4

    2.10

    Total Investment Securities

     

    7,262.7

     

    87.0

    2.40

     

    8,108.8

     

    94.6

    2.34

    Loans Held for Sale

     

    1.8

     

    0.1

    6.22

     

    2.1

     

    0.1

    5.42

    Loans and Leases 3
    Commercial and Industrial

     

    1,667.8

     

    44.4

    5.35

     

    1,433.8

     

    33.8

    4.75

    Paycheck Protection Program

     

    10.2

     

    0.1

    1.79

     

    15.7

     

    0.1

    1.86

    Commercial Mortgage

     

    3,720.1

     

    102.1

    5.52

     

    3,776.2

     

    94.5

    5.04

    Construction

     

    314.6

     

    11.8

    7.57

     

    263.5

     

    7.4

    5.68

    Commercial Lease Financing

     

    58.8

     

    0.6

    2.08

     

    66.1

     

    0.3

    0.76

    Residential Mortgage

     

    4,622.6

     

    90.7

    3.92

     

    4,685.2

     

    81.0

    3.46

    Home Equity

     

    2,240.9

     

    42.9

    3.85

     

    2,255.9

     

    37.2

    3.33

    Automobile

     

    822.2

     

    18.0

    4.41

     

    875.6

     

    15.0

    3.45

    Other 4

     

    393.1

     

    13.3

    6.80

     

    425.6

     

    12.5

    5.94

    Total Loans and Leases

     

    13,850.3

     

    323.9

    4.70

     

    13,797.6

     

    281.8

    4.11

    Other

     

    62.4

     

    2.0

    6.70

     

    81.0

     

    2.7

    6.70

    Total Earning Assets

     

    21,637.6

     

    425.3

    3.94

     

    22,391.5

     

    389.0

    3.49

    Cash and Due from Banks

     

    237.1

     

    317.8

    Other Assets

     

    1,338.6

     

    1,281.3

    Total Assets

    $

    23,213.3

    $

    23,990.6

     
    Interest-Bearing Liabilities
    Interest-Bearing Deposits
    Demand

    $

    3,776.3

     

    16.5

    0.88

    $

    4,126.2

     

    12.7

    0.62

    Savings

     

    8,195.3

     

    101.4

    2.49

     

    7,837.3

     

    47.2

    1.21

    Time

     

    3,008.5

     

    62.7

    4.19

     

    2,044.4

     

    31.7

    3.12

    Total Interest-Bearing Deposits

     

    14,980.1

     

    180.6

    2.42

     

    14,007.9

     

    91.6

    1.32

    Funds Purchased

     

    1.6

     

    -

    5.37

     

    37.4

     

    0.9

    4.72

    Short-Term Borrowings

     

    -

     

    -

    5.40

     

    229.9

     

    5.7

    4.94

    Securities Sold Under Agreements to Repurchase

     

    136.2

     

    2.6

    3.81

     

    725.5

     

    10.8

    2.96

    Other Debt

     

    560.2

     

    11.9

    4.25

     

    879.8

     

    18.7

    4.31

    Total Interest-Bearing Liabilities

     

    15,678.1

     

    195.1

    2.50

     

    15,880.5

     

    127.7

    1.62

    Net Interest Income

    $

    230.2

    $

    261.3

    Interest Rate Spread

    1.44

    %

    1.87

    %

    Net Interest Margin

    2.13

    %

    2.34

    %

    Noninterest-Bearing Demand Deposits

     

    5,470.9

     

    6,215.7

    Other Liabilities

     

    637.0

     

    546.3

    Shareholders' Equity

     

    1,427.3

     

    1,348.1

    Total Liabilities and Shareholders' Equity

    $

    23,213.3

    $

    23,990.6

     
    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 $1,464,000 and $966,000
    for the six months ended June 30, 2024 and June 30, 2023, respectively.
    3 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.
    4 Comprised of other consumer revolving credit, installment, and consumer lease financing.
    Bank of Hawai‘i Corporation and Subsidiaries
    Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8a
    Three Months Ended June 30, 2024
    Compared to March 31, 2024
    (dollars in millions) Volume 1 Rate 1 Total
    Change in Interest Income:
    Investment Securities
    Available-for-Sale
    Taxable

    $

    (0.7

    )

    $

    0.4

     

    $

    (0.3

    )

    Held-to-Maturity
    Taxable

     

    (0.4

    )

     

    (0.1

    )

     

    (0.5

    )

    Total Investment Securities

     

    (1.1

    )

     

    0.3

     

     

    (0.8

    )

    Loans and Leases
    Commercial and Industrial

     

    0.4

     

     

    (0.1

    )

     

    0.3

     

    Paycheck Protection Program

     

    0.1

     

     

    -

     

     

    0.1

     

    Commercial Mortgage

     

    0.1

     

     

    1.0

     

     

    1.1

     

    Construction

     

    0.2

     

     

    0.5

     

     

    0.7

     

    Residential Mortgage

     

    (0.5

    )

     

    1.1

     

     

    0.6

     

    Home Equity

     

    (0.2

    )

     

    0.9

     

     

    0.7

     

    Automobile

     

    (0.2

    )

     

    0.4

     

     

    0.2

     

    Other 2

     

    -

     

     

    0.3

     

     

    0.3

     

    Total Loans and Leases

     

    (0.1

    )

     

    4.1

     

     

    4.0

     

    Other

     

    -

     

     

    0.1

     

     

    0.1

     

    Total Change in Interest Income

     

    (1.2

    )

     

    4.5

     

     

    3.3

     

     
    Change in Interest Expense:
    Interest-Bearing Deposits
    Demand

     

    -

     

     

    1.1

     

     

    1.1

     

    Savings

     

    0.8

     

     

    1.8

     

     

    2.6

     

    Time

     

    (1.5

    )

     

    0.2

     

     

    (1.3

    )

    Total Interest-Bearing Deposits

     

    (0.7

    )

     

    3.1

     

     

    2.4

     

    Securities Sold Under Agreements to Repurchase

     

    (0.2

    )

     

    -

     

     

    (0.2

    )

    Other Debt

     

    -

     

     

    0.1

     

     

    0.1

     

    Total Change in Interest Expense

     

    (0.9

    )

     

    3.2

     

     

    2.3

     

     
    Change in Net Interest Income

    $

    (0.3

    )

    $

    1.3

     

    $

    1.0

     

     
    1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.
    2 Comprised of other consumer revolving credit, installment, and consumer lease financing.
    Bank of Hawai‘i Corporation and Subsidiaries
    Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8b
    Three Months Ended June 30, 2024
    Compared to June 30, 2023
    (dollars in millions) Volume 1 Rate 1 Total
    Change in Interest Income:
    Funds Sold

    $

    (0.6

    )

    $

    0.3

     

    $

    (0.3

    )

    Investment Securities
    Available-for-Sale
    Taxable

     

    (3.9

    )

     

    2.2

     

     

    (1.7

    )

    Non-Taxable

     

    (0.1

    )

     

    -

     

     

    (0.1

    )

    Held-to-Maturity
    Taxable

     

    (1.7

    )

     

    (0.1

    )

     

    (1.8

    )

    Total Investment Securities

     

    (5.7

    )

     

    2.1

     

     

    (3.6

    )

    Loans and Leases
    Commercial and Industrial

     

    2.8

     

     

    2.0

     

     

    4.8

     

    Paycheck Protection Program

     

    0.1

     

     

    -

     

     

    0.1

     

    Commercial Mortgage

     

    (1.2

    )

     

    3.5

     

     

    2.3

     

    Construction

     

    1.2

     

     

    1.6

     

     

    2.8

     

    Commercial Lease Financing

     

    (0.1

    )

     

    0.1

     

     

    -

     

    Residential Mortgage

     

    (1.0

    )

     

    5.4

     

     

    4.4

     

    Home Equity

     

    (0.3

    )

     

    3.1

     

     

    2.8

     

    Automobile

     

    (0.6

    )

     

    2.0

     

     

    1.4

     

    Other 2

     

    (0.5

    )

     

    0.9

     

     

    0.4

     

    Total Loans and Leases

     

    0.4

     

     

    18.6

     

     

    19.0

     

    Other

     

    (0.6

    )

     

    (0.4

    )

     

    (1.0

    )

    Total Change in Interest Income

     

    (6.5

    )

     

    20.6

     

     

    14.1

     

     
    Change in Interest Expense:
    Interest-Bearing Deposits
    Demand

     

    (0.5

    )

     

    1.8

     

     

    1.3

     

    Savings

     

    2.2

     

     

    23.2

     

     

    25.4

     

    Time

     

    6.1

     

     

    4.9

     

     

    11.0

     

    Total Interest-Bearing Deposits

     

    7.8

     

     

    29.9

     

     

    37.7

     

    Funds Purchased

     

    (0.2

    )

     

    -

     

     

    (0.2

    )

    Short-Term Borrowings

     

    (2.6

    )

     

    0.1

     

     

    (2.5

    )

    Securities Sold Under Agreements to Repurchase

     

    (5.5

    )

     

    1.3

     

     

    (4.2

    )

    Other Debt

     

    (7.4

    )

     

    (0.1

    )

     

    (7.5

    )

    Total Change in Interest Expense

     

    (7.9

    )

     

    31.2

     

     

    23.3

     

     
    Change in Net Interest Income

    $

    1.4

     

    $

    (10.6

    )

    $

    (9.2

    )

     
    1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.
    2 Comprised of other consumer revolving credit, installment, and consumer lease financing.
    Bank of Hawai‘i Corporation and Subsidiaries
    Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8c
    Six Months Ended June 30, 2024
    Compared to June 30, 2023
    (dollars in millions) Volume 1 Rate 1 Total
    Change in Interest Income:
    Interest-Bearing Deposits in Other Banks

    $

    0.1

     

    $

    -

     

    $

    0.1

     

    Funds Sold

     

    1.4

     

     

    1.0

     

     

    2.4

     

    Investment Securities
    Available-for-Sale
    Taxable

     

    (7.7

    )

     

    3.9

     

     

    (3.8

    )

    Non-Taxable

     

    (0.1

    )

     

    (0.1

    )

     

    (0.2

    )

    Held-to-Maturity
    Taxable

     

    (3.6

    )

     

    -

     

     

    (3.6

    )

    Total Investment Securities

     

    (11.4

    )

     

    3.8

     

     

    (7.6

    )

    Loans and Leases
    Commercial and Industrial

     

    5.9

     

     

    4.7

     

     

    10.6

     

    Commercial Mortgage

     

    (1.4

    )

     

    9.0

     

     

    7.6

     

    Construction

     

    1.6

     

     

    2.8

     

     

    4.4

     

    Commercial Lease Financing

     

    -

     

     

    0.3

     

     

    0.3

     

    Residential Mortgage

     

    (1.1

    )

     

    10.8

     

     

    9.7

     

    Home Equity

     

    (0.2

    )

     

    5.9

     

     

    5.7

     

    Automobile

     

    (1.0

    )

     

    4.0

     

     

    3.0

     

    Other 2

     

    (1.0

    )

     

    1.8

     

     

    0.8

     

    Total Loans and Leases

     

    2.8

     

     

    39.3

     

     

    42.1

     

    Other

     

    (0.6

    )

     

    (0.1

    )

     

    (0.7

    )

    Total Change in Interest Income

     

    (7.7

    )

     

    44.0

     

     

    36.3

     

     
    Change in Interest Expense:
    Interest-Bearing Deposits
    Demand

     

    (1.2

    )

     

    5.0

     

     

    3.8

     

    Savings

     

    2.3

     

     

    51.9

     

     

    54.2

     

    Time

     

    18.0

     

     

    13.0

     

     

    31.0

     

    Total Interest-Bearing Deposits

     

    19.1

     

     

    69.9

     

     

    89.0

     

    Funds Purchased

     

    (1.0

    )

     

    0.1

     

     

    (0.9

    )

    Short-Term Borrowings

     

    (6.2

    )

     

    0.5

     

     

    (5.7

    )

    Securities Sold Under Agreements to Repurchase

     

    (10.7

    )

     

    2.5

     

     

    (8.2

    )

    Other Debt

     

    (6.6

    )

     

    (0.2

    )

     

    (6.8

    )

    Total Change in Interest Expense

     

    (5.4

    )

     

    72.8

     

     

    67.4

     

     
    Change in Net Interest Income

    $

    (2.3

    )

    $

    (28.8

    )

    $

    (31.1

    )

     
    1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.
    2 Comprised of other consumer revolving credit, installment, and consumer lease financing.
    Bank of Hawai‘i Corporation and Subsidiaries
    Salaries and Benefits Table 9

    Three Months Ended

     

    Six Months Ended

    June 30,

    March 31,

    June 30,

     

    June 30,

    (dollars in thousands)

     

    2024

     

    2024

     

    2023

     

     

     

    2024

     

    2023

    Salaries

    $

    38,662

    $

    38,031

    $

    37,962

     

    $

    76,693

    $

    76,579

    Incentive Compensation

     

    3,109

     

    3,090

     

    2,984

     

     

    6,199

     

    6,981

    Share-Based Compensation

     

    3,296

     

    3,799

     

    4,096

     

     

    7,095

     

    7,255

    Commission Expense

     

    939

     

    572

     

    775

     

     

    1,511

     

    1,422

    Retirement and Other Benefits

     

    3,961

     

    4,299

     

    3,489

     

     

    8,260

     

    9,377

    Payroll Taxes

     

    3,070

     

    4,730

     

    3,310

     

     

    7,800

     

    9,158

    Medical, Dental, and Life Insurance

     

    3,211

     

    3,212

     

    3,568

     

     

    6,423

     

    7,432

    Separation Expense

     

    785

     

    482

     

    (9

    )

     

    1,267

     

    3,059

    Total Salaries and Benefits

    $

    57,033

    $

    58,215

    $

    56,175

     

    $

    115,248

    $

    121,263

    Bank of Hawai‘i Corporation and Subsidiaries
    Loan and Lease Portfolio Balances Table 10

    June 30,

    March 31,

    December 31,

    September 30,

    June 30,

    (dollars in thousands)

     

    2024

     

    2024

     

    2023

     

    2023

     

    2023

    Commercial
    Commercial and Industrial

    $

    1,691,441

    $

    1,669,482

    $

    1,652,699

    $

    1,569,572

    $

    1,502,676

    Paycheck Protection Program

     

    7,997

     

    10,177

     

    11,369

     

    12,529

     

    13,789

    Commercial Mortgage

     

    3,741,140

     

    3,715,032

     

    3,749,016

     

    3,784,339

     

    3,796,769

    Construction

     

    315,571

     

    323,069

     

    304,463

     

    251,507

     

    236,428

    Lease Financing

     

    59,388

     

    57,817

     

    59,939

     

    61,522

     

    62,779

    Total Commercial

     

    5,815,537

     

    5,775,577

     

    5,777,486

     

    5,679,469

     

    5,612,441

    Consumer
    Residential Mortgage

     

    4,595,586

     

    4,616,900

     

    4,684,171

     

    4,699,140

     

    4,721,976

    Home Equity

     

    2,221,073

     

    2,240,946

     

    2,264,827

     

    2,285,974

     

    2,278,105

    Automobile

     

    806,240

     

    825,854

     

    837,830

     

    856,113

     

    878,767

    Other 1

     

    392,830

     

    394,560

     

    400,712

     

    398,795

     

    423,600

    Total Consumer

     

    8,015,729

     

    8,078,260

     

    8,187,540

     

    8,240,022

     

    8,302,448

    Total Loans and Leases

    $

    13,831,266

    $

    13,853,837

    $

    13,965,026

    $

    13,919,491

    $

    13,914,889

    1 Comprised of other revolving credit, installment, and lease financing.
     
    Deposits

    June 30,

    March 31,

    December 31,

    September 30,

    June 30,

    (dollars in thousands)

     

    2024

     

    2024

     

    2023

     

    2023

     

    2023

    Consumer

    $

    10,382,432

    $

    10,429,004

    $

    10,319,809

    $

    10,036,261

    $

    10,018,931

    Commercial

     

    7,995,618

     

    8,323,330

     

    8,601,224

     

    8,564,536

     

    8,019,971

    Public and Other

     

    2,030,452

     

    1,924,252

     

    2,134,012

     

    2,201,512

     

    2,469,713

    Total Deposits

    $

    20,408,502

    $

    20,676,586

    $

    21,055,045

    $

    20,802,309

    $

    20,508,615

     
     
    Average Deposits
    Three Months Ended

    June 30,

    March 31,

    December 31,

    September 30,

    June 30,

    (dollars in thousands)

     

    2024

     

    2024

     

    2023

     

    2023

     

    2023

    Consumer

    $

    10,379,724

    $

    10,313,730

    $

    10,092,727

    $

    9,963,690

    $

    9,977,239

    Commercial

     

    8,188,685

     

    8,334,540

     

    8,581,426

     

    8,288,891

     

    8,138,358

    Public and Other

     

    1,789,984

     

    1,895,370

     

    2,029,917

     

    2,239,501

     

    1,903,004

    Total Deposits

    $

    20,358,393

    $

    20,543,640

    $

    20,704,070

    $

    20,492,082

    $

    20,018,601

    Bank of Hawai‘i Corporation and Subsidiaries
    Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More Table 11

    June 30,

    March 31,

    December 31,

    September 30,

    June 30,

    (dollars in thousands)

     

    2024

     

     

    2024

     

     

    2023

     

     

    2023

     

     

    2023

     

    Non-Performing Assets
    Non-Accrual Loans and Leases
    Commercial
    Commercial and Industrial

    $

    3,681

     

    $

    13

     

    $

    39

     

    $

    43

     

    $

    17

     

    Commercial Mortgage

     

    2,601

     

     

    2,714

     

     

    2,884

     

     

    2,996

     

     

    3,107

     

    Total Commercial

     

    6,282

     

     

    2,727

     

     

    2,923

     

     

    3,039

     

     

    3,124

     

    Consumer
    Residential Mortgage

     

    2,998

     

     

    3,199

     

     

    2,935

     

     

    3,706

     

     

    3,504

     

    Home Equity

     

    3,227

     

     

    3,240

     

     

    3,791

     

     

    3,734

     

     

    3,809

     

    Total Consumer

     

    6,225

     

     

    6,439

     

     

    6,726

     

     

    7,440

     

     

    7,313

     

    Total Non-Accrual Loans and Leases

     

    12,507

     

     

    9,166

     

     

    9,649

     

     

    10,479

     

     

    10,437

     

    Foreclosed Real Estate

     

    2,672

     

     

    2,672

     

     

    2,098

     

     

    1,040

     

     

    1,040

     

    Total Non-Performing Assets

    $

    15,179

     

    $

    11,838

     

    $

    11,747

     

    $

    11,519

     

    $

    11,477

     

     
    Accruing Loans and Leases Past Due 90 Days or More
    Consumer
    Residential Mortgage

    $

    4,524

     

    $

    3,378

     

    $

    3,814

     

    $

    3,519

     

    $

    3,560

     

    Home Equity

     

    2,025

     

     

    1,580

     

     

    1,734

     

     

    2,172

     

     

    2,022

     

    Automobile

     

    568

     

     

    517

     

     

    399

     

     

    393

     

     

    577

     

    Other 1

     

    733

     

     

    872

     

     

    648

     

     

    643

     

     

    633

     

    Total Consumer

     

    7,850

     

     

    6,347

     

     

    6,595

     

     

    6,727

     

     

    6,792

     

    Total Accruing Loans and Leases Past Due 90 Days or More

    $

    7,850

     

    $

    6,347

     

    $

    6,595

     

    $

    6,727

     

    $

    6,792

     

    Total Loans and Leases

    $

    13,831,266

     

    $

    13,853,837

     

    $

    13,965,026

     

    $

    13,919,491

     

    $

    13,914,889

     

     
    Ratio of Non-Accrual Loans and Leases to Total Loans and Leases

     

    0.09

    %

     

    0.07

    %

     

    0.07

    %

     

    0.08

    %

     

    0.08

    %

     
    Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate

     

    0.11

    %

     

    0.09

    %

     

    0.08

    %

     

    0.08

    %

     

    0.08

    %

     
    Ratio of Non-Performing Assets to Total Assets

     

    0.07

    %

     

    0.05

    %

     

    0.05

    %

     

    0.05

    %

     

    0.04

    %

     
    Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate

     

    0.11

    %

     

    0.05

    %

     

    0.05

    %

     

    0.05

    %

     

    0.06

    %

     
     
    Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Consumer Foreclosed Real Estate

     

    0.11

    %

     

    0.11

    %

     

    0.11

    %

     

    0.10

    %

     

    0.10

    %

     
    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

     

    0.17

    %

     

    0.13

    %

     

    0.13

    %

     

    0.13

    %

     

    0.13

    %

     
     
    Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter

    $

    11,838

     

    $

    11,747

     

    $

    11,519

     

    $

    11,477

     

    $

    12,124

     

    Additions

     

    5,257

     

     

    1,652

     

     

    2,683

     

     

    1,318

     

     

    1,116

     

    Reductions
    Payments

     

    (844

    )

     

    (921

    )

     

    (2,018

    )

     

    (1,017

    )

     

    (226

    )

    Return to Accrual Status

     

    (1,018

    )

     

    (617

    )

     

    (437

    )

     

    (259

    )

     

    (1,527

    )

    Charge-offs / Write-downs

     

    (54

    )

     

    (23

    )

     

    -

     

     

    -

     

     

    (10

    )

    Total Reductions

     

    (1,916

    )

     

    (1,561

    )

     

    (2,455

    )

     

    (1,276

    )

     

    (1,763

    )

    Balance at End of Quarter

    $

    15,179

     

    $

    11,838

     

    $

    11,747

     

    $

    11,519

     

    $

    11,477

     

     
    1 Comprised of other revolving credit, installment, and lease financing.
    Bank of Hawai‘i Corporation and Subsidiaries
    Reserve for Credit Losses Table 12

    Three Months Ended

     

    Six Months Ended

    June 30,

    March 31,

    June 30,

     

    June 30,

    (dollars in thousands)

     

    2024

     

     

    2024

     

     

    2023

     

     

     

    2024

     

     

    2023

     

    Balance at Beginning of Period

    $

    152,148

     

    $

    152,429

     

    $

    150,579

     

    $

    152,429

     

    $

    151,247

     

     
    Loans and Leases Charged-Off
    Commercial
    Commercial and Industrial

     

    (875

    )

     

    (360

    )

     

    (203

    )

     

    (1,235

    )

     

    (464

    )

    Consumer
    Residential Mortgage

     

    (48

    )

     

    -

     

     

    (6

    )

     

    (48

    )

     

    (6

    )

    Home Equity

     

    (202

    )

     

    (35

    )

     

    (5

    )

     

    (237

    )

     

    (55

    )

    Automobile

     

    (1,095

    )

     

    (1,048

    )

     

    (1,293

    )

     

    (2,143

    )

     

    (2,956

    )

    Other 1

     

    (2,610

    )

     

    (2,312

    )

     

    (2,004

    )

     

    (4,922

    )

     

    (4,339

    )

    Total Loans and Leases Charged-Off

     

    (4,830

    )

     

    (3,755

    )

     

    (3,511

    )

     

    (8,585

    )

     

    (7,820

    )

    Recoveries on Loans and Leases Previously Charged-Off
    Commercial
    Commercial and Industrial

     

    263

     

     

    116

     

     

    103

     

     

    379

     

     

    153

     

    Consumer
    Residential Mortgage

     

    63

     

     

    42

     

     

    58

     

     

    105

     

     

    119

     

    Home Equity

     

    113

     

     

    184

     

     

    578

     

     

    297

     

     

    762

     

    Automobile

     

    481

     

     

    526

     

     

    777

     

     

    1,007

     

     

    1,449

     

    Other 1

     

    517

     

     

    606

     

     

    618

     

     

    1,123

     

     

    1,292

     

    Total Recoveries on Loans and Leases Previously Charged-Off

     

    1,437

     

     

    1,474

     

     

    2,134

     

     

    2,911

     

     

    3,775

     

    Net Charged-Off - Loans and Leases

     

    (3,393

    )

     

    (2,281

    )

     

    (1,377

    )

     

    (5,674

    )

     

    (4,045

    )

    Provision for Credit Losses:
    Loans and Leases

     

    3,206

     

     

    3,542

     

     

    3,167

     

     

    6,748

     

     

    4,973

     

    Unfunded Commitments

     

    (806

    )

     

    (1,542

    )

     

    (667

    )

     

    (2,348

    )

     

    (473

    )

    Total Provision for Credit Losses

     

    2,400

     

     

    2,000

     

     

    2,500

     

     

    4,400

     

     

    4,500

     

    Balance at End of Period

    $

    151,155

     

    $

    152,148

     

    $

    151,702

     

    $

    151,155

     

    $

    151,702

     

     
    Components
    Allowance for Credit Losses - Loans and Leases

    $

    147,477

     

    $

    147,664

     

    $

    145,367

     

    $

    147,477

     

    $

    145,367

     

    Reserve for Unfunded Commitments

     

    3,678

     

     

    4,484

     

     

    6,335

     

     

    3,678

     

     

    6,335

     

    Total Reserve for Credit Losses

    $

    151,155

     

    $

    152,148

     

    $

    151,702

     

    $

    151,155

     

    $

    151,702

     

     
    Average Loans and Leases Outstanding

    $

    13,831,797

     

    $

    13,868,800

     

    $

    13,876,754

     

    $

    13,850,299

     

    $

    13,797,559

     

     
    Ratio of Net Loans and Leases Charged-Off to
    Average Loans and Leases Outstanding (annualized)

     

    0.10

    %

     

    0.07

    %

     

    0.04

    %

     

    0.08

    %

     

    0.06

    %

    Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 2

     

    1.07

    %

     

    1.07

    %

     

    1.04

    %

     

    1.07

    %

     

    1.04

    %

     
    1 Comprised of other revolving credit, installment, and lease financing.
    2 The numerator comprises the Allowance for Credit Losses - Loans and Leases.
    Bank of Hawai‘i Corporation and Subsidiaries
    Business Segments Selected Financial Information Table 13a
    Consumer Commercial Treasury Consolidated
    (dollars in thousands) Banking Banking and Other Total
    Three Months Ended June 30, 2024
    Net Interest Income (Loss)

    $

    98,205

     

    $

    50,885

     

    $

    (34,244

    )

    $

    114,846

     

    Provision for Credit Losses

     

    2,873

     

     

    473

     

     

    (946

    )

     

    2,400

     

    Net Interest Income (Loss) After Provision for Credit Losses

     

    95,332

     

     

    50,412

     

     

    (33,298

    )

     

    112,446

     

    Noninterest Income

     

    33,653

     

     

    6,698

     

     

    1,736

     

     

    42,087

     

    Noninterest Expense

     

    (87,011

    )

     

    (18,010

    )

     

    (4,205

    )

     

    (109,226

    )

    Income (Loss) Before Income Taxes

     

    41,974

     

     

    39,100

     

     

    (35,767

    )

     

    45,307

     

    Provision for Income Taxes

     

    (10,685

    )

     

    (9,887

    )

     

    9,348

     

     

    (11,224

    )

    Net Income (Loss)

    $

    31,289

     

    $

    29,213

     

    $

    (26,419

    )

    $

    34,083

     

    Total Assets as of June 30, 2024

    $

    8,357,830

     

    $

    5,835,399

     

    $

    9,107,539

     

    $

    23,300,768

     

     
    Three Months Ended June 30, 2023 1
    Net Interest Income (Loss)

    $

    98,114

     

    $

    52,257

     

    $

    (26,023

    )

    $

    124,348

     

    Provision for Credit Losses

     

    1,392

     

     

    (15

    )

     

    1,123

     

     

    2,500

     

    Net Interest Income (Loss) After Provision for Credit Losses

     

    96,722

     

     

    52,272

     

     

    (27,146

    )

     

    121,848

     

    Noninterest Income

     

    31,944

     

     

    7,939

     

     

    3,372

     

     

    43,255

     

    Noninterest Expense

     

    (81,192

    )

     

    (19,302

    )

     

    (3,542

    )

     

    (104,036

    )

    Income (Loss) Before Income Taxes

     

    47,474

     

     

    40,909

     

     

    (27,316

    )

     

    61,067

     

    Provision for Income Taxes

     

    (12,219

    )

     

    (10,336

    )

     

    7,549

     

     

    (15,006

    )

    Net Income (Loss)

    $

    35,255

     

    $

    30,573

     

    $

    (19,767

    )

    $

    46,061

     

    Total Assets as of June 30, 2023

    $

    8,715,172

     

    $

    5,714,929

     

    $

    10,517,835

     

    $

    24,947,936

     

     
    1 Certain prior period information has been reclassified to conform to current presentation.
    Bank of Hawai‘i Corporation and Subsidiaries
    Business Segments Selected Financial Information Table 13b
    Consumer Commercial Treasury Consolidated
    (dollars in thousands) Banking Banking and Other Total
    Six Months Ended June 30, 2024
    Net Interest Income (Loss)

    $

    195,199

     

    $

    102,378

     

    $

    (68,793

    )

    $

    228,784

     

    Provision for Credit Losses

     

    5,160

     

     

    467

     

     

    (1,227

    )

     

    4,400

     

    Net Interest Income (Loss) After Provision for Credit Losses

     

    190,039

     

     

    101,911

     

     

    (67,566

    )

     

    224,384

     

    Noninterest Income

     

    65,635

     

     

    13,492

     

     

    5,245

     

     

    84,372

     

    Noninterest Expense

     

    (169,716

    )

     

    (36,653

    )

     

    (8,716

    )

     

    (215,085

    )

    Income (Loss) Before Income Taxes

     

    85,958

     

     

    78,750

     

     

    (71,037

    )

     

    93,671

     

    Provision for Income Taxes

     

    (21,865

    )

     

    (19,895

    )

     

    18,563

     

     

    (23,197

    )

    Net Income (Loss)

    $

    64,093

     

    $

    58,855

     

    $

    (52,474

    )

    $

    70,474

     

    Total Assets as of June 30, 2024

    $

    8,357,830

     

    $

    5,835,399

     

    $

    9,107,539

     

    $

    23,300,768

     

     
    Six Months Ended June 30, 2023 1
    Net Interest Income (Loss)

    $

    194,697

     

    $

    107,798

     

    $

    (42,192

    )

    $

    260,303

     

    Provision for Credit Losses

     

    4,061

     

     

    (16

    )

     

    455

     

     

    4,500

     

    Net Interest Income (Loss) After Provision for Credit Losses

     

    190,636

     

     

    107,814

     

     

    (42,647

    )

     

    255,803

     

    Noninterest Income

     

    63,098

     

     

    16,588

     

     

    4,306

     

     

    83,992

     

    Noninterest Expense

     

    (166,167

    )

     

    (39,591

    )

     

    (10,197

    )

     

    (215,955

    )

    Income (Loss) Before Income Taxes

     

    87,567

     

     

    84,811

     

     

    (48,538

    )

     

    123,840

     

    Provision for Income Taxes

     

    (22,493

    )

     

    (20,822

    )

     

    12,378

     

     

    (30,937

    )

    Net Income (Loss)

    $

    65,074

     

    $

    63,989

     

    $

    (36,160

    )

    $

    92,903

     

    Total Assets as of June 30, 2023

    $

    8,715,172

     

    $

    5,714,929

     

    $

    10,517,835

     

    $

    24,947,936

     

     
    1 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

    June 30,

    March 31,

    December 31,

    September 30,

    June 30,

    (dollars in thousands, except per share amounts)

     

    2024

     

     

    2024

     

     

    2023

     

     

    2023

     

     

    2023

     

    Quarterly Operating Results
    Interest Income
    Interest and Fees on Loans and Leases

    $

    163,208

     

    $

    159,336

     

    $

    158,324

     

    $

    151,245

     

    $

    144,541

     

    Income on Investment Securities
    Available-for-Sale

     

    21,468

     

     

    21,757

     

     

    22,782

     

     

    23,552

     

     

    23,301

     

    Held-to-Maturity

     

    21,595

     

     

    22,136

     

     

    22,589

     

     

    22,838

     

     

    23,375

     

    Deposits

     

    25

     

     

    30

     

     

    23

     

     

    18

     

     

    18

     

    Funds Sold

     

    6,114

     

     

    6,127

     

     

    5,705

     

     

    12,828

     

     

    6,395

     

    Other

     

    1,120

     

     

    970

     

     

    924

     

     

    1,464

     

     

    2,121

     

    Total Interest Income

     

    213,530

     

     

    210,356

     

     

    210,347

     

     

    211,945

     

     

    199,751

     

    Interest Expense
    Deposits

     

    91,542

     

     

    89,056

     

     

    87,121

     

     

    72,153

     

     

    53,779

     

    Securities Sold Under Agreements to Repurchase

     

    1,180

     

     

    1,443

     

     

    1,459

     

     

    4,034

     

     

    5,436

     

    Funds Purchased

     

    44

     

     

    -

     

     

    -

     

     

    -

     

     

    184

     

    Short-Term Borrowings

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    2,510

     

    Other Debt

     

    5,918

     

     

    5,919

     

     

    5,982

     

     

    14,821

     

     

    13,494

     

    Total Interest Expense

     

    98,684

     

     

    96,418

     

     

    94,562

     

     

    91,008

     

     

    75,403

     

    Net Interest Income

     

    114,846

     

     

    113,938

     

     

    115,785

     

     

    120,937

     

     

    124,348

     

    Provision for Credit Losses

     

    2,400

     

     

    2,000

     

     

    2,500

     

     

    2,000

     

     

    2,500

     

    Net Interest Income After Provision for Credit Losses

     

    112,446

     

     

    111,938

     

     

    113,285

     

     

    118,937

     

     

    121,848

     

    Noninterest Income
    Trust and Asset Management

     

    12,223

     

     

    11,189

     

     

    11,144

     

     

    10,548

     

     

    11,215

     

    Mortgage Banking

     

    1,028

     

     

    951

     

     

    1,016

     

     

    1,059

     

     

    1,176

     

    Service Charges on Deposit Accounts

     

    7,730

     

     

    7,947

     

     

    7,949

     

     

    7,843

     

     

    7,587

     

    Fees, Exchange, and Other Service Charges

     

    13,769

     

     

    14,123

     

     

    13,774

     

     

    13,824

     

     

    14,150

     

    Investment Securities Losses, Net

     

    (1,601

    )

     

    (1,497

    )

     

    (1,619

    )

     

    (6,734

    )

     

    (1,310

    )

    Annuity and Insurance

     

    1,583

     

     

    1,046

     

     

    1,271

     

     

    1,156

     

     

    1,038

     

    Bank-Owned Life Insurance

     

    3,396

     

     

    3,356

     

     

    3,176

     

     

    2,749

     

     

    2,876

     

    Other

     

    3,959

     

     

    5,170

     

     

    5,572

     

     

    19,889

     

     

    6,523

     

    Total Noninterest Income

     

    42,087

     

     

    42,285

     

     

    42,283

     

     

    50,334

     

     

    43,255

     

    Noninterest Expense
    Salaries and Benefits

     

    57,033

     

     

    58,215

     

     

    53,991

     

     

    58,825

     

     

    56,175

     

    Net Occupancy

     

    10,559

     

     

    10,456

     

     

    9,734

     

     

    10,327

     

     

    9,991

     

    Net Equipment

     

    10,355

     

     

    10,103

     

     

    9,826

     

     

    9,477

     

     

    10,573

     

    Data Processing

     

    4,745

     

     

    4,770

     

     

    4,948

     

     

    4,706

     

     

    4,599

     

    Professional Fees

     

    4,929

     

     

    4,677

     

     

    5,079

     

     

    3,846

     

     

    4,651

     

    FDIC Insurance

     

    7,170

     

     

    3,614

     

     

    18,545

     

     

    3,361

     

     

    3,173

     

    Other

     

    14,435

     

     

    14,024

     

     

    13,839

     

     

    15,059

     

     

    14,874

     

    Total Noninterest Expense

     

    109,226

     

     

    105,859

     

     

    115,962

     

     

    105,601

     

     

    104,036

     

    Income Before Provision for Income Taxes

     

    45,307

     

     

    48,364

     

     

    39,606

     

     

    63,670

     

     

    61,067

     

    Provision for Income Taxes

     

    11,224

     

     

    11,973

     

     

    9,210

     

     

    15,767

     

     

    15,006

     

    Net Income

    $

    34,083

     

    $

    36,391

     

    $

    30,396

     

    $

    47,903

     

    $

    46,061

     

    Preferred Stock Dividends

     

    1,969

     

     

    1,969

     

     

    1,969

     

     

    1,969

     

     

    1,969

     

    Net Income Available to Common Shareholders

    $

    32,114

     

    $

    34,422

     

    $

    28,427

     

    $

    45,934

     

    $

    44,092

     

     
    Basic Earnings Per Common Share

    $

    0.81

     

    $

    0.87

     

    $

    0.72

     

    $

    1.17

     

    $

    1.12

     

    Diluted Earnings Per Common Share

    $

    0.81

     

    $

    0.87

     

    $

    0.72

     

    $

    1.17

     

    $

    1.12

     

     
    Balance Sheet Totals
    Loans and Leases

    $

    13,831,266

     

    $

    13,853,837

     

    $

    13,965,026

     

    $

    13,919,491

     

    $

    13,914,889

     

    Total Assets

     

    23,300,768

     

     

    23,420,860

     

     

    23,733,296

     

     

    23,549,785

     

     

    24,947,936

     

    Total Deposits

     

    20,408,502

     

     

    20,676,586

     

     

    21,055,045

     

     

    20,802,309

     

     

    20,508,615

     

    Total Shareholders' Equity

     

    1,612,849

     

     

    1,435,977

     

     

    1,414,242

     

     

    1,363,840

     

     

    1,358,279

     

     
    Performance Ratios
    Return on Average Assets

     

    0.59

    %

     

    0.63

    %

     

    0.51

    %

     

    0.78

    %

     

    0.77

    %

    Return on Average Shareholders' Equity

     

    9.53

     

     

    10.34

     

     

    8.86

     

     

    13.92

     

     

    13.55

     

    Return on Average Common Equity

     

    10.41

     

     

    11.20

     

     

    9.55

     

     

    15.38

     

     

    14.95

     

    Efficiency Ratio 1

     

    69.60

     

     

    67.76

     

     

    73.36

     

     

    61.66

     

     

    62.07

     

    Net Interest Margin 2

     

    2.15

     

     

    2.11

     

     

    2.13

     

     

    2.13

     

     

    2.22

     

     
    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.
    Bank of Hawai‘i Corporation and Subsidiaries
    Hawaii Economic Trends Table 15

    Five Months Ended

    Year Ended

    (dollars in millions; jobs in thousands)

    May 31, 2024

    December 31, 2023

    December 31, 2022

    Hawaii Economic Trends
    State General Fund Revenues 1

    $

    4,192.4

    (0.3

    )%

    $

    9,504.1

    0.7

    %

    $

    9,441.3

     

    16.0

    %

    General Excise and Use Tax Revenue 1

     

    1,912.5

    (0.2

    )

     

    4,474.1

    4.9

     

     

    4,263.4

     

    18.3

     

    Jobs 2

     

    649.5

     

    655.2

     

    653.3

     

     

    May 31,

    December 31,

    2024

     

    2023

    2022

    Unemployment, seasonally adjusted 2
    Statewide

    3.0

    %

     

    3.0

    %

    3.2

    %

    Honolulu County

    2.9

     

     

    2.6

     

    3.1

     

    Hawaii County

    3.0

     

     

    2.8

     

    3.5

     

    Maui County

    3.6

     

     

    6.2

     

    3.5

     

    Kauai County

    2.9

     

     

    2.5

     

    3.1

     

     

    June 30,

     

    December 31,

    (1-year percentage change, except months of inventory)

     

    2024

     

    2023

     

     

    2022

     

    2021

     

    Housing Trends (Single Family Oahu) 3
    Median Home Price

     

    3.3

    %

    (5.0

    )%

     

    11.6

    %

    19.3

    %

    Home Sales Volume (units)

     

    6.7

    %

    (26.3

    )%

     

    (23.2

    )%

    17.9

    %

    Months of Inventory

     

    3.0

    2.8

     

     

    2.1

     

    0.8

     

     
    Monthly Visitor Arrivals, Percentage Change
    (in thousands, except percent change) Not Seasonally Adjusted from Previous Year
    Tourism 4
    May 31, 2024

    757.8

     

    (4.1

    )%

    April 30, 2024

    721.9

     

    (10.5

    )

    March 31, 2024

    843.5

     

    (5.5

    )

    February 29, 2024

    752.7

     

    2.6

     

    January 31, 2024

    745.6

     

    (3.8

    )

    December 31, 2023

    845.6

     

    (1.5

    )

    November 30, 2023

    720.3

     

    0.2

     

    October 31, 2023

    700.3

     

    (3.7

    )

    September 30, 2023

    643.1

     

    (7.1

    )

    August 31, 2023

    766.0

     

    (7.7

    )

    July 31, 2023

    929.4

     

    1.2

     

    June 30, 2023

    886.0

     

    5.3

     

    May 31, 2023

    790.5

     

    2.1

     

    April 30, 2023

    806.2

     

    (0.4

    )

    March 31, 2023

    892.2

     

    13.6

     

    February 28, 2023

    733.6

     

    17.6

     

    January 31, 2023

    775.1

     

    36.7

     

    December 31, 2022

    858.3

     

    14.0

     

    November 30, 2022

    719.0

     

    17.1

     

    October 31, 2022

    727.4

     

    32.1

     

    September 30, 2022

    692.2

     

    37.2

     

    August 31, 2022

    829.8

     

    14.8

     

    July 31, 2022

    918.6

     

    4.4

     

    June 30, 2022

    841.8

     

    6.4

     

    May 31, 2022

    774.1

     

    22.9

     

     
    1 Source: Hawaii Department of Business, Economic Development & Tourism
    2 Source: U.S. Bureau of Labor Statistics
    3 Source: Honolulu Board of Realtors
    4 Source: Hawaii Tourism Authority

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240722713291/en/

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    • Bank of Hawai'i Corporation Conference Call to Discuss Second Quarter 2025 Financial Results and Board Declares Quarterly Preferred Stock Dividends

      Bank of Hawai‘i Corporation (NYSE:BOH) (the "Company") will release second quarter 2025 financial results on Monday, July 28, 2025 before the market opens and hold its quarterly conference call at 2:00 p.m. Eastern Time (8:00 a.m. Hawai‘i Time) on the same day. The live call, including a slide presentation, will be accessible on the investor relations link of the Company's website, www.boh.com. The webcast link is https://register-conf.media-server.com/register/BIa6a93d497eb94850bae6b073c733bfa9. A replay of the webcast will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, July 28, 2025. The replay will be available on the Company's website, www.bo

      7/3/25 4:05:00 PM ET
      $BOH
      Major Banks
      Finance
    • Bank of Hawai'i Announces New Vice Chair and Chief Financial Officer Bradley S. Satenberg

      Bradley "Brad" S. Satenberg has been promoted to vice chair and chief financial officer at Bank of Hawaiʻi, following the retirement of Chief Financial Officer Dean Shigemura. In his newly expanded role, he will oversee Bank of Hawai‘i's planning and forecasting, financial accounting and reporting, regulatory financial reporting, corporate taxation, and the overall budget and forecast for the company. This thoughtful leadership transition has been the focus of long-term and intentional planning. To prepare for his new role and ensure a smooth transition, Satenberg served as senior executive vice president and deputy to Shigemura since he joined the bank in July 2024. Shigemura will remain

      7/1/25 5:09:00 PM ET
      $BOH
      Major Banks
      Finance
    • Bank of Hawai'i Corporation First Quarter 2025 Financial Results

      Diluted Earnings Per Common Share of $0.97 Net Income of $44.0 Million Net Interest Income $125.8 Million Net Interest Margin 2.32% Board of Directors Declares Dividend of $0.70 Per Common Share Bank of Hawai‘i Corporation (NYSE:BOH) (the "Company") today reported diluted earnings per common share of $0.97 for the first quarter of 2025, compared with $0.85 during the linked quarter and $0.87 during the same period last year. Net income for the first quarter of 2025 was $44.0 million, up 12.3% from the linked quarter and up 20.9% from the same period last year. The return on average common equity for the first quarter of 2025 was 11.80% compared with 10.30% during the linked quart

      4/21/25 6:45:00 AM ET
      $BOH
      Major Banks
      Finance

    $BOH
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

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    • SEC Form 3 filed by new insider Satenberg Bradley Steven

      3 - BANK OF HAWAII CORP (0000046195) (Issuer)

      7/9/25 1:08:04 PM ET
      $BOH
      Major Banks
      Finance
    • SEC Form 4 filed by Director Wo Robert W Jr

      4 - BANK OF HAWAII CORP (0000046195) (Issuer)

      7/2/25 2:31:00 PM ET
      $BOH
      Major Banks
      Finance
    • SEC Form 4 filed by Vice Chair & CFO Shigemura Dean Y

      4 - BANK OF HAWAII CORP (0000046195) (Issuer)

      7/1/25 5:02:22 PM ET
      $BOH
      Major Banks
      Finance

    $BOH
    Leadership Updates

    Live Leadership Updates

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    • Bank of Hawai'i Announces New Vice Chair and Chief Financial Officer Bradley S. Satenberg

      Bradley "Brad" S. Satenberg has been promoted to vice chair and chief financial officer at Bank of Hawaiʻi, following the retirement of Chief Financial Officer Dean Shigemura. In his newly expanded role, he will oversee Bank of Hawai‘i's planning and forecasting, financial accounting and reporting, regulatory financial reporting, corporate taxation, and the overall budget and forecast for the company. This thoughtful leadership transition has been the focus of long-term and intentional planning. To prepare for his new role and ensure a smooth transition, Satenberg served as senior executive vice president and deputy to Shigemura since he joined the bank in July 2024. Shigemura will remain

      7/1/25 5:09:00 PM ET
      $BOH
      Major Banks
      Finance
    • Bank of Hawai'i Promotes James C. Polk to President; Appoints Matthew K.M. Emerson Chief Retail Banking Officer

      Today, Bank of Hawai‘i Chairman and CEO Peter S. Ho announced that Vice Chair and Chief Banking Officer James C. Polk has been promoted to President of Bank of Hawai‘i Corporation and its primary operating subsidiary Bank of Hawai‘i (together, the "Company"), and Vice Chair Matthew K.M. Emerson has been appointed Chief Retail Banking Officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240718875567/en/Bank of Hawai‘i Vice Chair and Chief Retail Banking Officer Matthew K.M. Emerson (Photo: Business Wire) As president of the Company, Polk will continue to oversee Commercial Banking, Merchant Services, Cash Management, and Wealt

      7/19/24 2:36:00 PM ET
      $BOH
      Major Banks
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    $BOH
    Financials

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    • Bank of Hawai'i Corporation Conference Call to Discuss Second Quarter 2025 Financial Results and Board Declares Quarterly Preferred Stock Dividends

      Bank of Hawai‘i Corporation (NYSE:BOH) (the "Company") will release second quarter 2025 financial results on Monday, July 28, 2025 before the market opens and hold its quarterly conference call at 2:00 p.m. Eastern Time (8:00 a.m. Hawai‘i Time) on the same day. The live call, including a slide presentation, will be accessible on the investor relations link of the Company's website, www.boh.com. The webcast link is https://register-conf.media-server.com/register/BIa6a93d497eb94850bae6b073c733bfa9. A replay of the webcast will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, July 28, 2025. The replay will be available on the Company's website, www.bo

      7/3/25 4:05:00 PM ET
      $BOH
      Major Banks
      Finance
    • Bank of Hawai'i Corporation First Quarter 2025 Financial Results

      Diluted Earnings Per Common Share of $0.97 Net Income of $44.0 Million Net Interest Income $125.8 Million Net Interest Margin 2.32% Board of Directors Declares Dividend of $0.70 Per Common Share Bank of Hawai‘i Corporation (NYSE:BOH) (the "Company") today reported diluted earnings per common share of $0.97 for the first quarter of 2025, compared with $0.85 during the linked quarter and $0.87 during the same period last year. Net income for the first quarter of 2025 was $44.0 million, up 12.3% from the linked quarter and up 20.9% from the same period last year. The return on average common equity for the first quarter of 2025 was 11.80% compared with 10.30% during the linked quart

      4/21/25 6:45:00 AM ET
      $BOH
      Major Banks
      Finance
    • Bank of Hawai'i Corporation Conference Call to Discuss First Quarter 2025 Financial Results and Board Declares Quarterly Preferred Stock Dividends

      Bank of Hawai‘i Corporation (NYSE:BOH) (the "Company") will release first quarter 2025 financial results on Monday, April 21, 2025 before the market opens and hold its quarterly conference call at 2:00 p.m. Eastern Time (8:00 a.m. Hawai‘i Time) on the same day. 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 link is https://register-conf.media-server.com/register/BI61ce682f562949d3b8f602272bc03f6e. A replay of the webcast will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, April 21, 2025. The replay will be available on the Company's

      4/4/25 6:04:00 PM ET
      $BOH
      Major Banks
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    $BOH
    Large Ownership Changes

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    • Amendment: SEC Form SC 13G/A filed by Bank of Hawaii Corporation

      SC 13G/A - BANK OF HAWAII CORP (0000046195) (Subject)

      11/13/24 4:05:02 PM ET
      $BOH
      Major Banks
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    • SEC Form SC 13G/A filed by Bank of Hawaii Corporation (Amendment)

      SC 13G/A - BANK OF HAWAII CORP (0000046195) (Subject)

      2/13/24 5:00:45 PM ET
      $BOH
      Major Banks
      Finance
    • SEC Form SC 13G/A filed by Bank of Hawaii Corporation (Amendment)

      SC 13G/A - BANK OF HAWAII CORP (0000046195) (Subject)

      2/13/24 4:05:26 PM ET
      $BOH
      Major Banks
      Finance