Bank of Hawaii(BOH)
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Bank of Hawaii(BOH) - 2020 Q2 - Quarterly Report
2020-07-31 21:26
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2020 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number: 1-6887 BANK OF HAWAII CORP (Exact name of registrant as specified in its charter) HonoluluHawaii (City)(State) 130 ...
Bank of Hawaii(BOH) - 2020 Q2 - Earnings Call Transcript
2020-07-27 22:14
Financial Data and Key Metrics Changes - Net income for Q2 2020 was $38.9 million or $0.98 per share, with net interest income reported at $126.7 million, up $700,000 from the previous quarter and up $2.6 million year-over-year [40][41] - The effective tax rate for Q2 was 20.05%, estimated to be approximately 20% to 21% for the remainder of the year [44] - Return on assets was 0.82%, return on equity was 11.58%, and efficiency ratio was 50% [45] Business Line Data and Key Metrics Changes - The loan portfolio net of PPP balances totaled $11.3 billion, with 60% consumer and 40% commercial loans [22] - Non-performing assets totaled $22.7 million, up $2.1 million from Q1 and up $900,000 year-over-year [24] - The second quarter loan growth was 4%, driven by $543 million of PPP loans, with modest growth of $16 million excluding PPP [32] Market Data and Key Metrics Changes - Unemployment in Hawaii rose from 2.4% in March to 23.8% in April, then improved to 13.9% due to partial reopening and federal stimulus [18][20] - GDP and personal income forecasts for 2020 show declines of 11% and 5% respectively [21] Company Strategy and Development Direction - The company continues to focus on digital banking, with significant increases in mobile deposit growth of 36% and online mortgage applications up 142% year-to-date [14] - The company is committed to maintaining solid financial results while fortifying its balance sheet against credit losses [17] - Future investments in digital platforms are expected to generate revenue and improve efficiency [91][92] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery path is uncertain, with tourism expected to gradually reopen late in Q3 2020 [50] - The company is well-positioned with solid credit statistics and robust liquidity and capital levels [21] - Management expressed cautious optimism about the local economy's resilience, contingent on federal stimulus and the control of infection rates [68][70] Other Important Information - The company provided payment relief to over 17,000 customer accounts, totaling $1.9 billion or 16% of total loans [27] - The investment portfolio increased by $300 million to $6 billion, maintaining high credit quality with 95% in AAA rated securities [37] Q&A Session Summary Question: What are the forecasts for tourism reopening and reserve build? - Management indicated that tourism is expected to open gradually late in Q3, with occupancy levels projected at 40% to 50% of pre-pandemic levels [50][51] Question: How will PPP loans affect liquidity and cash balances? - Management expects PPP loans to run off, with cash deposits decreasing as loans are repaid [52] Question: What is the outlook for non-interest income and service charges? - Non-interest income is expected to be lower due to reduced customer activity, with a potential recovery as economic activity increases [76] Question: How does the company view the resilience of the Hawaiian economy? - Management believes that the local economy can withstand challenges without immediate shutdowns, but full recovery will depend on the resumption of tourism [70] Question: What is the company's strategy regarding digital investments? - The company plans to continue investing in digital platforms to enhance revenue and efficiency, adapting to changing customer behaviors [91][92]
Bank of Hawaii(BOH) - 2020 Q1 - Quarterly Report
2020-04-30 21:18
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2020 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number: 1-6887 BANK OF HAWAII CORP (Exact name of registrant as specified in its charter) HonoluluHawaii (City)(State) 13 ...
Bank of Hawaii(BOH) - 2020 Q1 - Earnings Call Transcript
2020-04-20 22:41
Bank of Hawaii Corporation (NYSE:BOH) Q1 2020 Earnings Conference Call April 14, 2020 2:00 PM ET Company Participants Cindy Wyrick - Director, IR Peter Ho - Chairman, President and CEO Dean Shigemura - Vice Chairman and CFO Mary Sellers - Vice Chairman and Chief Risk Officer Conference Call Participants Ebrahim Poonawala - Bank of America Merrill Lynch Casey Haire - Jefferies Jeff Rulis - D. A. Davidson. Jackie Bohlen - KBW Laurie Hunsicker - Compass Point Operator Ladies and gentlemen, thank you for standi ...
Bank of Hawaii(BOH) - 2019 Q4 - Annual Report
2020-03-02 22:22
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number: 1-6887 BANK OF HAWAII CORP (Exact name of registrant as specified in its charter) Delaware 99-0148992 (State of incorp ...
Bank of Hawaii(BOH) - 2019 Q4 - Earnings Call Transcript
2020-01-27 21:39
Bank of Hawaii Corporation (NYSE:BOH) Q4 2019 Earnings Conference Call January 27, 2020 1:00 PM ET Company Participants Peter Ho - Chairman, President and CEO Dean Shigemura - Vice Chairman and CFO Mary Sellers - Vice Chairman and Chief Risk Officer Cindy Wyrick - Director, IR Conference Call Participants Jackie Bohlen - Keefe, Bruyette & Woods Ebrahim Poonawala - Bank of America Merrill Lynch Aaron Deer - Piper Sandler Levi Posen - D. A. Davidson Laurie Hunsicker - Compass Point Operator Ladies and gentlem ...
Bank of Hawaii(BOH) - 2019 Q3 - Earnings Call Transcript
2019-10-28 21:41
Bank of Hawaii Corporation (NYSE:BOH) Q3 2019 Results Conference Call October 28, 2019 2:00 PM ET Company Participants Cindy Wyrick - Director, IR Peter Ho - Chairman, President and CEO Dean Shigemura - CFO Mary Sellers - Chief Risk Officer Conference Call Participants Jeff Rulis - DA Davidson Ebrahim Poonawala - Bank of America Aaron Deer - Sandler O'Neill Jackie Bohlen - KBW Laurie Hunsicker - Compass Point Operator Ladies and gentlemen, thank you for standing by. And welcome to the Bank of Hawaii Corpora ...
Bank of Hawaii(BOH) - 2019 Q3 - Quarterly Report
2019-10-28 21:20
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number: 1-6887 BANK OF HAWAII CORP (Exact name of registrant as specified in its charter) HonoluluHawaii (City)(State ...
Bank of Hawaii(BOH) - 2019 Q2 - Earnings Call Transcript
2019-07-23 00:52
Bank of Hawaii Corporation (NYSE:BOH) Q2 2019 Earnings Conference Call July 22, 2019 2:00 PM ET Company Participants Cindy Wyrick - Director, Investor Relations Peter Ho - Chairman, President and Chief Executive Officer Dean Shigemura - Chief Financial Officer Mary Sellers - Chief Risk Officer Conference Call Participants Ebrahim Poonawala - Bank of America Merrill Lynch Jeff Rulis - D.A. Davidson Aaron Deer - Sandler O’Neill Luke Wooten - KBW Laurie Hunsicker - Compass Point Operator Good day, ladies and g ...
Bank of Hawaii(BOH) - 2019 Q2 - Quarterly Report
2019-07-22 21:28
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number: 1-6887 BANK OF HAWAII CORP (Exact name of registrant as specified in its charter) HonoluluHawaii (City)(State) 130 ...