Bank of Hawai'i Corporation third quarter 2024 financial report October 28, 2024 disclosure Corporation forward-looking statements this presentation, and other statements made by the Company in connection with it, may contain forward-looking statements concerning, among other things, forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations. we have not committed to update forward-looking statements ...

Financial Performance - Diluted earnings per common share for Q3 2024 were $0.93, up 14.8% from the linked quarter but down 20.5% year-over-year[1]. - Net income for Q3 2024 was $40.4 million, an increase of 18.4% from the linked quarter but a decrease of 15.8% from the same period last year[1]. - Net income for the three months ended September 30, 2024, was $40,358, compared to $34,083 in the previous quarter, reflecting a 18.5% increase[24]. - Net income for the three months ended September 30, 2024, was $40,358,000, down 15.7% from $47,903,000 in the same period last year[26]. - Comprehensive income for the three months ended September 30, 2024, was $79,359,000, compared to $29,723,000 in the same period last year, reflecting a significant increase[27]. Income and Expenses - Net interest income was $117.6 million, a 2.4% increase from the linked quarter but a 2.7% decrease year-over-year[3]. - Noninterest income reached $45.1 million, up 7.2% from the linked quarter but down 10.4% year-over-year[6]. - Total noninterest income rose to $45,110, up from $42,087 in the previous quarter[24]. - Total noninterest expense for the three months ended September 30, 2024, was $107,092,000, slightly down from $105,601,000 in the same period last year[26]. - Total interest income for the quarter ended September 2024 was $220,648,000, an increase from $213,530,000 in the previous quarter[49]. Assets and Liabilities - Total assets were $23.8 billion, reflecting a 2.1% increase from the linked quarter and a 1.1% increase year-over-year[13]. - Total assets as of September 30, 2024, were $23,799,174, an increase from $23,300,768 at the end of the previous quarter[25]. - Total liabilities stood at $22,133,700 thousand, an increase from $21,687,919 thousand in the previous quarter, representing a rise of 2.04%[28]. - Total deposits amounted to $21.0 billion, a 2.8% increase from the linked quarter and a 0.8% increase year-over-year[16]. - Total deposits as of September 30, 2024, reached $20,978,322, an increase from $20,408,502 on June 30, 2024, representing a growth of 2.8%[39]. Capital Ratios - The Tier 1 Capital Ratio was 14.05%, up from 13.96% in the linked quarter and significantly up from 12.53% year-over-year[17]. - The Tier 1 capital ratio as of September 30, 2024, was 14.05%, up from 13.96% in the previous quarter[25]. - Shareholders' equity increased to $1,665,474 from $1,612,849 in the previous quarter[25]. - Shareholders' equity rose to $1,621.9 million, indicating a strong capital position[30]. Credit Quality - Non-performing assets totaled $19.8 million, an increase of $4.6 million from the linked quarter and $8.3 million from the same period last year[10]. - Non-performing assets increased to $19,781 from $15,179 in the previous quarter[24]. - The provision for credit losses increased to $3,000 for the quarter, compared to $2,400 in the previous quarter[24]. - The ratio of non-performing assets to total loans and leases was 0.14% as of September 30, 2024, up from 0.11% in the previous quarter[42]. - The net charged-off loans and leases for the three months ended September 30, 2024, totaled $3,830 thousand, compared to $2,049 thousand in the same period of 2023, indicating an increase of 87%[43]. Yield and Margin - The average yield on loans and leases was 4.82%, up 6 basis points from the linked quarter and up 48 basis points year-over-year[5]. - The net interest margin for the nine months ended September 30, 2024, was 3.98%, compared to 3.57% for the same period in 2023, showing an improvement of 41 basis points[31]. - The interest rate spread was reported at 1.47% for the current quarter[30]. Dividends - The company declared dividends of $0.70 per common share for the three months ended September 30, 2024, consistent with the previous quarter[26]. - Cash dividends declared for common stock were $84,209 thousand, maintaining a consistent dividend policy at $2.10 per share[29]. Visitor Arrivals and Market Trends - Monthly visitor arrivals in August 2024 reached 819.2 thousand, reflecting a 6.9% increase from the previous year[51]. - Home sales volume rose by 5.8% year-over-year, but saw a significant decline of 26.3% from the previous quarter[51]. - The median home price increased by 4.8% compared to the previous year, while it decreased by 5.0% from the previous quarter[51].

Group 1 - The Bank of Hawaii Corporation (NYSE: BOH) was downgraded to a hold rating after previously being rated as a buy in October 2023 [1] - Since the downgrade, the stock has shown minimal movement [1] Group 2 - There is a promotional sale offering a significant discount on membership fees, with potential savings of 75% compared to the regular price of $1,668 [2] - The sale is limited and will end once three more members sign up [2] - A money-back guarantee is offered to ensure customer satisfaction [2]

Core Insights - Bank of Hawaii (BOH) reported a revenue of $162.73 million for Q3 2024, reflecting a year-over-year decline of 5% and an EPS of $0.93 compared to $1.17 a year ago, with a revenue surprise of +1.52% over the Zacks Consensus Estimate of $160.29 million and an EPS surprise of +14.81% over the consensus estimate of $0.81 [1] Financial Performance Metrics - Efficiency Ratio was reported at 65.8%, better than the estimated 67.4% by analysts [3] - Net Interest Margin matched the analyst estimate at 2.2% [3] - Net charge-offs to average loans were 0.1%, consistent with analyst estimates [3] - Average Balance of Total interest-earning assets was $21.76 billion, slightly above the estimate of $21.69 billion [3] - Total Non-Accrual Loans and Leases were $17.11 million, exceeding the estimate of $12.92 million [3] - Total Non-Performing Assets were $19.78 million, higher than the estimated $15.32 million [3] - Net Interest Income (FTE) was $118.70 million, surpassing the estimate of $117.35 million [3] - Annuity and Insurance revenue was $1.46 million, above the estimate of $1.17 million [3] - Bank-Owned Life Insurance revenue was $3.53 million, compared to the estimate of $3.28 million [3] - Trust and Asset Management revenue was $11.92 million, exceeding the estimate of $11.70 million [3] - Mortgage Banking revenue was $1.19 million, above the estimate of $1 million [3] - Net Interest Income was reported at $117.62 million, slightly above the estimate of $116.65 million [3] Stock Performance - Shares of Bank of Hawaii have returned +5.8% over the past month, outperforming the Zacks S&P 500 composite's +2% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Bank of Hawaii (BOH) came out with quarterly earnings of $0.93 per share, beating the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $1.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 14.81%. A quarter ago, it was expected that this bank holding company would post earnings of $0.85 per share when it actually produced earnings of $0.86, delivering a surprise of 1.18%. Over the last four quarters, ...

In its upcoming report, Bank of Hawaii (BOH) is predicted by Wall Street analysts to post quarterly earnings of $0.81 per share, reflecting a decline of 30.8% compared to the same period last year. Revenues are forecasted to be $160.31 million, representing a year-over-year decrease of 6.4%.The consensus EPS estimate for the quarter has undergone a downward revision of 1.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ini ...

It has been about a month since the last earnings report for Bank of Hawaii (BOH) . Shares have lost about 6.3% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Bank of Hawaii due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Bank of Hawaii Q2 Earnings Top Estimat ...

Bank of Hawaii Corp BOH shares are down on Monday, after the company reported its second-quarter earnings. The stock outperformed the industry in recent weeks, while its profitability lags that of peers, according to Piper Sandler. Analyst Andrew Liesch downgraded the rating for Bank of Hawaii from Neutral to Underweight, while lowering the price target from $70 to $61. The Bank of Hawaii Thesis: While the bank's net interest income and margins should improve "as earning assets reprice higher," much of that ...

constantgardener/E+ via Getty Images This morning, we are downgrading the Bank of Hawaii Corporation (NYSE:BOH) to a hold. We had two recent buy calls on the stock, one in July 2023, and reiterated a buy in October 2023. The bank that serves customers in the Hawaiian Islands market, in our opinion, is facing operational pressure after a tough two-year stretch that saw not only immense pain for regional banks as a whole, but wildfire tragedies ravaging Maui. The stock is up markedly from our calls, but now w ...

Bank of Hawaii Corporation (BOH) reported second-quarter 2024 adjusted earnings per share (EPS) of 86 cents, beating the Zacks Consensus Estimate of 85 cents. The bottom line compared unfavorably with $1.12 earned in the year-ago quarter. BOH's quarterly results benefited from an increase in interest margin (NIM) driven by higher earnings asset yields. Also, lower provision acted as a tailwind. A decline in net interest income (NII), along with a drop in loans and deposit balances and higher expenses, were ...