Core Insights - Bank of Hawaii Corporation (BOH) shares have increased by 15.7% over the past three months, outperforming the industry growth of 6.2% and the S&P 500 Index's rise of 0.2% [1][7] - Analysts have revised BOH's earnings estimates for 2026 and 2027 upward by 27.4% and 9.8%, respectively, indicating a positive outlook for the company's future earnings [5][7] Three-Month Price Performance - BOH stock's performance has surpassed that of peers such as Heritage Commerce Corp (HTBK) and Columbia Banking System, Inc. (COLB), which gained 15.3% and 5.3% respectively during the same period [1][7] Estimates Revision Trend - The Zacks Consensus Estimate for BOH's earnings in 2026 is $5.90 and $6.48 for 2027, reflecting an increase from previous estimates of $5.34 and $5.99 [4][5] Financial Strength - Bank of Hawaii maintains a solid balance sheet with a stable deposit base and a prudent loan portfolio, achieving a compound annual growth rate (CAGR) of 5% in deposits and 4.4% in net loans and leases over the past seven years [8][9] - The bank's net interest income (NII) has shown steady growth with a CAGR of 1.3% over the same period, and both NII and net interest margin (NIM) have expanded for seven consecutive quarters [11][13] Growth Drivers - BOH is expected to see continued growth in loans in the mid-single-digit range in 2026, supported by a balanced asset mix and ongoing fixed-asset repricing [9][10] - The bank's non-interest income has also recorded a CAGR of nearly 1%, with expectations for further growth driven by trust services and transaction-related revenues [14][15] Strategic Initiatives - The bank has made significant investments in digital capabilities and wealth management through partnerships, including a recent collaboration with Cetera Financial Institutions to enhance its investment services program [17][18] - BOH's liquidity position is strong, with total liquidity of $946.5 million as of December 31, 2025, exceeding total debt of $608.2 million [19] Shareholder Value - Bank of Hawaii has a consistent dividend policy, maintaining a quarterly dividend of 70 cents per share since July 2021, with a current yield of 3.64%, above the industry average [20][23] - The bank also has an active share repurchase program, with $121 million remaining available under the plan as of December 31, 2025 [23] Challenges - The bank's non-interest expenses have grown at a CAGR of 2.6% over the past seven years, driven by technology investments and higher variable expenses, with an expected increase of 3–3.5% in 2026 [24] - A significant portion of BOH's loan portfolio is concentrated in Hawaii, with 93% of total loans in the region, exposing the bank to economic risks associated with local downturns [26][27] Valuation - BOH stock is currently trading at a trailing price-to-earnings (P/E) ratio of 12.84X, higher than the industry average of 10.30X, indicating a premium valuation [28] Investment Appeal - Despite some near-term risks, Bank of Hawaii's resilient balance sheet, strong earnings outlook, and strategic initiatives position it as a compelling choice for investors seeking exposure to a growth-oriented regional bank [31][34]

Core Viewpoint - Bank of Hawaii reported strong fourth-quarter earnings, beating estimates and showing significant year-over-year growth in net income and revenues, although rising expenses were a concern [2][3][4]. Financial Performance - The fourth-quarter earnings per share (EPS) was $1.39, exceeding the Zacks Consensus Estimate of $1.25 and up from 85 cents in the same quarter last year [2]. - Net income for the quarter was $60.9 million, reflecting a 55.6% increase year over year, while full-year net income reached $205.9 million, a 37.3% rise [3]. - Quarterly revenues increased by 16.2% year over year to $189.6 million, surpassing the Zacks Consensus Estimate by 3.9% [4]. Income and Expenses - Net interest income (NII) was $145.4 million, up 20.9% year over year, with a net interest margin (NIM) of 2.61%, an increase of 42 basis points [4]. - Non-interest income was $44.3 million, a 2.8% increase year over year, driven by higher trust and asset management income [5]. - Non-interest expenses rose 1.5% year over year to $109.5 million, with adjusted expenses increasing 3.9% [6]. Efficiency and Profitability - The efficiency ratio improved to 57.75%, down from 66.12% in the previous year, indicating enhanced profitability [7]. - Return on average assets was 1.01%, up from 0.66% year over year, and return on average shareholders' equity was 13.33%, an increase from 9.42% [12]. Loans and Deposits - Total loans and leases as of December 31, 2025, were $14.1 billion, with total deposits at $21.2 billion, showing slight increases [8]. Credit Quality - Non-performing assets decreased by 26.6% year over year to $14.2 million, indicating improved credit quality [9]. Capital Ratios - The Tier 1 capital ratio improved to 14.49%, up from 13.95% a year ago, and the total capital ratio rose to 15.54% from 15.00% [11]. Future Outlook - For Q1 2026, NIM is expected to expand further, with normalized non-interest income projected between $42 million and $43 million [13]. - For 2026, loans are anticipated to grow in the mid-single-digit range, with NIM projected to approach 2.90% by year-end [14]. - Share repurchases are expected to increase to $15–$20 million per quarter, contingent on growth conditions and capital levels [14]. Market Position - Bank of Hawaii has a Zacks Rank 2 (Buy), indicating expectations for above-average returns in the coming months [18].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2025 or Commission File Number: 1-6887 BANK OF HAWAII CORPORATION (Exact name of registrant as specified in its charter) | Delaware | 99-0148992 | | --- | --- | | (State of incorporation) | (I.R.S. Employer Identification No.) | 130 Merchant Street Honolulu Hawaii 96813 (Add ...

Bank of Hawaii (BOH) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a ...

Core Viewpoint - Bank of Hawaii Corporation is facing challenges in sustaining long-term stock growth due to geographic concentration and leadership changes, despite recent positive performance metrics [1][10]. Transaction Summary - Robert W. Wo Jr. reported an indirect sale of 5,000 shares valued at approximately $393,000 [2][4]. - Post-transaction, Wo holds 44,635 shares directly and 11,173 shares indirectly, with a total direct ownership value of $3.5 million [2][6]. Company Overview - Bank of Hawaii has a revenue of $705.13 million and a net income of $184.83 million for the trailing twelve months (TTM) [5]. - The company offers a dividend yield of 3.50% and has experienced a 1-year price change of 9.45% as of February 21, 2026 [5]. Ownership Structure - Wo's trust currently holds no shares, but he maintains significant holdings through various entities, including 44,635 shares directly and 34,906 shares under a deferred compensation plan [8][9]. - The sale of indirect shares is not expected to concern investors, but the bank's geographic concentration in the Pacific region raises potential concerns [9]. Competitive Landscape - Bank of Hawaii's services are limited compared to competitors that operate across the entire U.S. and globally, which may impact its growth potential [10]. - The CEO's planned retirement at the end of March 2026 adds uncertainty to the company's future direction [10].

Financial Performance - Bank of Hawaii Corporation reported strong performance in Q4 2025, with earnings per share of $1.39, exceeding market expectations of $1.26 [1] - Revenue reached $189.65 million, higher than the anticipated $184.83 million [1] - Net profit was $60.9 million, and net interest margin expanded for the seventh consecutive quarter to 2.61% [1] Company Status - The company announced the resumption of its stock repurchase program, planning to increase quarterly buyback amounts to between $15 million and $20 million, indicating management's confidence in future cash flow and growth [2] Future Development - Management expects the net interest margin to approach 290 basis points (2.90%) by the end of 2026, with loan growth projected to remain in the low to mid-single digits [3] - The company warned of a potential increase in operating expenses by 3-3.5% in 2026, which may impact profitability [3] Industry and Risk Analysis - The saturation of the Hawaiian market may limit business expansion opportunities, and interest rate fluctuations pose ongoing risks to the stability of the net interest margin [3] - Investors should monitor macroeconomic changes that could affect the bank's asset quality and credit costs [3]

Core Insights - Bank of Hawai'i (BOH) is a well-established financial institution with a history of 128 years, offering a range of banking services including personal and commercial banking, wealth management, and investment services [1] - The stock price of BOH has shown a 1.39% increase, reflecting investor optimism and market response to internal developments [3][6] - Peter S. Ho, the Chairman and CEO of BOH, plans to retire on March 31, 2026, as part of a succession plan to ensure stability [4][6] Stock Performance - The current stock price of BOH is $77.39, with fluctuations between $75.96 and $77.46 during the trading day [3] - The stock's 52-week range is between $57.45 and $78.25, indicating volatility over the past year [3] - The market capitalization of BOH is approximately $3.08 billion, reflecting its size in the financial sector [3] Insider Transactions - Matthew Emerson, Vice Chair of BOH, sold 1,996 shares at $76.53 each, leaving him with 9,943 shares [2][6] - Such insider transactions can indicate the executive's perspective on the company's future performance or personal financial planning [2] Leadership Transition - The planned retirement of Peter S. Ho is part of a leadership transition aimed at maintaining stability within the bank [4][6] - Ho will remain as a consultant until the end of 2027 to aid in a smooth transition for the bank's leadership [4] Investor Interest - The trading volume for BOH stands at 461,724 shares, suggesting active investor interest [5] - The recent stock price increase may indicate a positive market response to the planned leadership transition and the bank's strategic direction [5]

Core Viewpoint - Bank of Hawaii (BOH) is positioned as a strong investment opportunity due to its improving earnings outlook and analysts' increasing earnings estimates [1][2]. Earnings Estimate Revisions - The trend of rising earnings estimate revisions reflects growing analyst optimism regarding Bank of Hawaii's earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, Bank of Hawaii is projected to earn $1.32 per share, marking a 36.1% increase from the previous year's reported figure. The Zacks Consensus Estimate has risen by 5.38% over the last 30 days due to one upward revision and no negative changes [6]. - For the full year, the earnings estimate is $5.80 per share, representing a 25.3% increase from the prior year. In the past month, three estimates have been raised, contributing to an 8.92% increase in the consensus estimate [7][8]. Zacks Rank and Performance - Bank of Hawaii currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in raising earnings estimates, which historically correlates with stock performance [3][9]. - Stocks with a Zacks Rank 1 and 2 have shown significant outperformance compared to the S&P 500, with Zacks 1 stocks averaging a 25% annual return since 2008 [3][9]. Stock Performance - The stock has appreciated by 9.5% over the past four weeks, driven by favorable estimate revisions, suggesting potential for further upside [10].

Core Viewpoint - Bank of Hawai'i's Chairman and CEO Peter S. Ho will retire on March 31, 2026, as part of a long-term succession plan to ensure stability for the bank [1] Group 1 - Peter S. Ho has been serving as Chairman and CEO since 2010 [1] - The bank has a 128-year history, indicating its established presence in the financial sector [1] - Following his retirement, Ho will continue to support the company as a consultant until the end of 2027 [1]

Core Insights - Bank of Hawaii Corporation (BOH) shares rose nearly 6.1% after reporting better-than-expected fourth-quarter 2025 earnings per share (EPS) of $1.39, exceeding the Zacks Consensus Estimate of $1.25 and up from 85 cents in the same quarter last year [1][10] Financial Performance - The company's net income (GAAP basis) for Q4 2025 was $60.9 million, reflecting a 55.6% year-over-year increase [2] - For the full year 2025, EPS was $4.63, surpassing the Zacks Consensus Estimate of $4.50 and up from $3.46 in 2024. The net income for the year was $205.9 million, a 37.3% increase year over year [3] - Quarterly revenues increased by 16.2% year over year to $189.6 million, exceeding the Zacks Consensus Estimate by 3.9%. Full-year revenues reached $716.6 million, up 12.1% year over year, also surpassing estimates [4] Income and Expenses - Net interest income (NII) for Q4 was $145.4 million, a 20.9% increase year over year, with net interest margin (NIM) rising 42 basis points to 2.61% [4] - Non-interest income was $44.3 million, up 2.8% year over year, driven by higher trust and asset management income [5] - Non-interest expenses rose 1.5% year over year to $109.5 million, with adjusted expenses increasing 3.9% from the previous year [6] Efficiency and Credit Quality - The efficiency ratio improved to 57.75%, down from 66.12% in the prior year, indicating increased profitability [7] - As of December 31, 2025, non-performing assets decreased by 26.6% year over year to $14.2 million, while net loan and lease charge-offs increased to $4.1 million [11] Capital Ratios and Profitability - The Tier 1 capital ratio improved to 14.49%, up from 13.95% a year earlier, and the total capital ratio rose to 15.54% from 15.00% [13] - Return on average assets was 1.01%, up from 0.66% in the prior year, and return on average shareholders' equity increased to 13.33% from 9.42% [14] Share Repurchase - In the reported quarter, Bank of Hawaii repurchased 76.5 thousand shares at a total cost of $5 million, with remaining buyback authority of $121 million [15] Overall Outlook - The rise in NII and fee income is expected to support top-line growth, alongside a solid capital position and higher loan and deposit balances. However, rising expenses remain a concern for overall performance [16]