Core Insights - Bank of Hawaii announced its earnings for the fourth quarter and the full year, highlighting its strong presence in Hawaii and branches in the American southwest [1] Financial Performance - The bank's earnings report includes details on its performance metrics for the fourth quarter and the entire fiscal year [1] Market Position - Bank of Hawaii trades two issues of preferred shares, indicating its strategy to attract different types of investors [1]

Financial Data and Key Metrics Changes - Bank of Hawaii reported net interest income of $120.2 million for Q4 2024, an increase of 2.2% from the previous quarter [22][35] - Net interest margin (NIM) expanded to 2.19%, with a further improvement to 2.26% by December [22][23] - Average deposits grew by 1.3% to $20.8 billion, while average loans increased by 1.1% to $14 billion [6] Business Line Data and Key Metrics Changes - The loan portfolio is balanced with consumer loans representing 56% and commercial loans 44% [12] - Consumer loans are primarily secured against real estate, with a weighted average loan-to-value (LTV) of 48% [13] - Commercial real estate loans account for $4 billion, or 29% of total loans, with a weighted average LTV of 55% [14] Market Data and Key Metrics Changes - Bank of Hawaii maintains the number one position in market share in Hawaii, with stable economic conditions [8][9] - Unemployment in Hawaii remains below the national average, and the residential real estate market trends are positive [10] Company Strategy and Development Direction - The company is focused on enhancing its wealth management operations to match its consumer and commercial business capabilities [75] - Strategic positioning of the balance sheet is aimed at managing interest rate sensitivity effectively [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of credit quality and the potential for continued loan growth, particularly in the commercial sector [51][100] - The company anticipates a diverse range of opportunities for net interest income growth, driven by both loan and deposit growth [100] Other Important Information - Total expenses for Q4 2024 were $107.9 million, with a focus on managing costs effectively [32] - The company declared a dividend of $0.70 per common share for Q1 2025 [38] Q&A Session Summary Question: Is the December margin of 2.26% a good starting point for the first quarter? - Management confirmed that the December margin of 2.26% is a clean number and a good starting point for the first quarter [46] Question: What is the outlook for loan growth and any impact from recent M&A activity? - Management indicated reasonable loan growth expectations, particularly in commercial loans, with no significant changes anticipated from recent M&A activity [50][52] Question: What is the current allocation of the $2 billion of active swaps? - The allocation is approximately $700 million against the available-for-sale (AFS) securities and $1.3 billion against the loan portfolio [82] Question: What initiatives are included in the revenue-enhancing expenses? - Management mentioned initiatives directed at commercial and wealth areas, aimed at enhancing earnings streams [73] Question: What is the outlook for the office loan portfolio due next year? - Management expressed confidence in the renewals of office loans, indicating no issues are expected [62] Question: What would trigger more active share buybacks? - Management indicated that clearer visibility into credit, the economy, and rates would be necessary for considering buybacks [66]

Earnings Overview - Bank of Hawaii Corporation reported solid performance for Q4 2024, marking a strong end to the year [5] Conference Call Participants - Key participants included Chairman and CEO Peter Ho, President and Chief Banking Officer Jim Polk, CFO Dean Shigemura, Chief Risk Officer Brad Shairson, and Deputy CFO Brad Satenberg [3] - The call was hosted by Chang Park, Director of Investor Relations [2][3] Forward-Looking Statements - The conference call included forward-looking statements, with the company acknowledging that actual results may differ from projections [4] - Reference materials, including the slide presentation and earnings release, were made available on the company's website [4]

fourth quarter 2024 highlights earnings highlights strong credit credit remained pristine Bank of Hawai'i Corporation fourth quarter 2024 financial report January 27, 2025 disclosure 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 forecast ...

Earnings and Net Income - Diluted earnings per common share for the full year 2024 was $3.46, down from $4.14 in 2023, with net income of $150.0 million, a 12.4% decrease year-over-year[2] - Net income for Q4 2024 was $39.2 million, down 3.0% from the linked quarter but up 28.8% from the same period last year[3] - Net Income for Q4 2024 reached $39.16 million, up from $30.40 million in Q4 2023[27] - Net income for the year ended December 31, 2024, was $149.994 million, compared to $171.202 million in 2023[29] - Net Income for 2023 was $171.2 million, compared to $149.994 million in 2024[32] - Net Income for Q4 2024 rose to $39.16 million, compared to $30.40 million in Q4 2023[46] Net Interest Income and Margin - Net interest income for Q4 2024 was $120.2 million, up 2.2% from the linked quarter and 3.8% year-over-year[4] - Net interest margin for Q4 2024 was 2.19%, up 1 basis point from the linked quarter and 6 basis points year-over-year[5] - Net Interest Income for Q4 2024 increased to $120.18 million, up from $115.79 million in Q4 2023[27] - Net interest income for the year ended December 31, 2024, was $466.580 million, compared to $497.025 million in 2023[29] - Net Interest Income rose to $121.5 million in Q4 2024, compared to $118.7 million in Q3 2024 and $116.4 million in Q4 2023[33] - Net Interest Margin improved to 2.19% in Q4 2024, compared to 2.18% in Q3 2024 and 2.13% in Q4 2023[33] - Net interest income declined to $470.4 million in 2024 from $499.0 million in 2023, with a net interest margin of 2.16% compared to 2.24% in 2023[35] - Net Interest Income for Q4 2024 increased to $120.18 million, up from $115.79 million in Q4 2023[46] - Net Interest Margin for Q4 2024 improved to 2.19%, up from 2.13% in Q4 2023[48] Assets and Liabilities - Total assets at year-end 2024 were $23.6 billion, a 0.8% decrease from Q3 2024 and a 0.6% decrease year-over-year[14] - Total loans and leases at year-end 2024 were $14.1 billion, up 1.1% from Q3 2024 and 0.8% year-over-year[16] - Total deposits at year-end 2024 were $20.6 billion, down 1.6% from Q3 2024 and 2.0% year-over-year[17] - Total assets as of December 31, 2024, were $23.601 billion, compared to $23.733 billion in 2023[31] - Loans and leases as of December 31, 2024, were $14.076 billion, compared to $13.965 billion in 2023[31] - Total Earning Assets increased to $22,125.6 million in Q4 2024, up from $21,756.5 million in Q3 2024 and $21,801.9 million in Q4 2023[33] - Total Loans and Leases reached $13,964.7 million in Q4 2024, slightly up from $13,810.0 million in Q3 2024 and $13,906.1 million in Q4 2023[33] - Interest-Bearing Deposits totaled $15,450.8 million in Q4 2024, up from $15,187.2 million in Q3 2024 and $15,008.3 million in Q4 2023[33] - Total Investment Securities stood at $7,307.0 million in Q4 2024, slightly up from $7,211.7 million in Q3 2024 and $7,412.7 million in Q4 2023[33] - Total Interest-Bearing Liabilities were $16,109.3 million in Q4 2024, up from $15,847.8 million in Q3 2024 and $15,719.0 million in Q4 2023[33] - Total Assets as of December 31, 2024, decreased to $23.60 billion from $23.73 billion in 2023[46] - Total Deposits as of December 31, 2024, decreased to $20.63 billion from $21.06 billion in 2023[48] Capital and Equity - Tier 1 Capital Ratio at year-end 2024 was 13.95%, compared to 14.05% in Q3 2024 and 12.56% year-over-year[19] - Common Equity Tier 1 Capital Ratio for Q4 2024 was 11.59%, up from 11.33% in Q4 2023[27] - Tangible Common Equity to Tangible Assets ratio for Q4 2024 was 5.48%, compared to 5.07% in Q4 2023[28] - Total Shareholders' Equity to Total Assets ratio for Q4 2024 was 7.07%, up from 5.96% in Q4 2023[28] - Total Shareholders' Equity increased from $1.316995 billion in 2022 to $1.414242 billion in 2023 and further to $1.667774 billion in 2024[32] - Shareholders' Equity increased to $1,654.2 million in Q4 2024, up from $1,621.9 million in Q3 2024 and $1,360.6 million in Q4 2023[33] Dividends and Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.70 per common share, payable on March 14, 2025[20] - Cash Dividends Declared for Common Stock remained consistent at $2.80 per share, totaling $111.795 million in 2023 and $112.313 million in 2024[32] - Cash Dividends Declared for Preferred Stock increased from $7.877 million in 2023 to $12.644 million in 2024[32] - Preferred Stock Issued in 2024 amounted to $160.614 million[32] Non-Performing Assets and Credit Quality - Non-performing assets at year-end 2024 were $19.3 million, down $0.5 million from Q3 2024 but up $7.6 million year-over-year[11] - Non-Performing Assets increased to $19.30 million in Q4 2024 from $11.75 million in Q4 2023[27] - Provision for Credit Losses in Q4 2024 was $3.75 million, higher than $2.50 million in Q4 2023[46] Employee and Compensation Metrics - Full-Time Equivalent Employees decreased to 1,865 in Q4 2024 from 1,899 in Q4 2023[27] - Total salaries and benefits for 2024 were $232.6 million, slightly lower than the $234.1 million in 2023, with medical, dental, and life insurance costs increasing to $14.9 million from $12.8 million[40] Loan and Deposit Portfolio - The loan and lease portfolio grew to $14.08 billion in December 2024, up from $13.97 billion in December 2023, with commercial loans increasing to $6.13 billion from $5.78 billion[41] - Consumer deposits remained stable at $10.40 billion in December 2024, compared to $10.32 billion in December 2023, while commercial deposits decreased to $8.30 billion from $8.60 billion[42] - Average deposits for the three months ended December 2024 were $20.76 billion, slightly higher than the $20.70 billion in the same period of 2023, with consumer deposits averaging $10.33 billion[43] Interest Income and Expense - Total interest income for the year ended December 31, 2024, was $863.751 million, up from $810.375 million in 2023[29] - Total Interest Income for Q4 2024 was $219.22 million, compared to $210.35 million in Q4 2023[48] - Interest expense rose by $83.8 million in 2024, largely due to a $118.0 million increase in interest-bearing deposits, with savings accounts contributing $72.3 million[39] - Total change in interest income for Q4 2024 compared to Q4 2023 was $9.5 million, with $7.1 million from volume and $2.4 million from rate changes[38] - Total change in interest expense for Q4 2024 compared to Q4 2023 was $4.4 million, with $3.5 million from volume and $0.9 million from rate changes[38] - Interest-bearing deposits contributed $5.0 million to the change in interest expense for Q4 2024 compared to Q4 2023, with $4.1 million from volume and $0.9 million from rate changes[38] Efficiency and Performance Ratios - Return on Average Assets for Q4 2024 was 0.66%, compared to 0.51% in Q4 2023[27] - Efficiency Ratio for Q4 2024 improved to 66.12%, down from 73.36% in Q4 2023[48] Comprehensive Income and Other Metrics - Comprehensive income for the year ended December 31, 2024, was $203.293 million, down from $209.172 million in 2023[30] - Other Comprehensive Income increased from $37.97 million in 2023 to $53.299 million in 2024[32] - Share-Based Compensation decreased from $15.656 million in 2023 to $14.444 million in 2024[32] - Common Stock Repurchased decreased from $14.29 million in 2023 to $5.302 million in 2024[32]

Core Insights - Bank of Hawaii (BOH) reported revenue of $163.23 million for the quarter ended December 2024, reflecting a year-over-year increase of 3.3% [1] - Earnings per share (EPS) for the quarter was $0.85, up from $0.72 in the same quarter last year, but below the consensus estimate of $0.87, resulting in an EPS surprise of -2.30% [1] Financial Performance Metrics - Total Non-Performing Assets amounted to $19.30 million, exceeding the average estimate of $18.43 million [4] - Total Non-Accrual Loans and Leases were reported at $16.64 million, higher than the estimated $15.76 million [4] - Net Interest Margin was reported at 2.2%, matching the average estimate [4] - Average Balance of Total Interest Earning Assets was $22.13 billion, slightly above the estimated $22.05 billion [4] - Net charge-offs to average loans stood at 0.1%, consistent with the average estimate [4] - Efficiency Ratio was reported at 66.1%, better than the average estimate of 66.8% [4] - Net Interest Income (FTE) was $121.50 million, surpassing the estimated $119.54 million [4] - Annuity and Insurance revenue was $1.35 million, below the estimated $1.56 million [4] - Bank-Owned Life Insurance revenue was $3.28 million, lower than the average estimate of $3.76 million [4] - Trust and Asset Management revenue was $12.16 million, exceeding the estimated $11.94 million [4] - Mortgage Banking revenue was $0.94 million, below the estimated $1.08 million [4] - Overall Net Interest Income was reported at $120.18 million, above the average estimate of $118.49 million [4] Stock Performance - Shares of Bank of Hawaii have returned +1% over the past month, compared to a +1.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Bank of Hawaii (BOH) came out with quarterly earnings of $0.85 per share, missing the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.30%. A quarter ago, it was expected that this bank holding company would post earnings of $0.81 per share when it actually produced earnings of $0.93, delivering a surprise of 14.81%.Over the last four quarters, t ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Bank of Hawaii (BOH) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 27, 2025, might help the stock move higher if these key numbers are better tha ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, December 26:Bank of Hawaii Corporation (BOH) : This bank holding company for Bank of Hawaii has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.7% the last 60 days.This Zacks Rank #1 company has a dividend yield of 4.0%, compared with the industry average of 2.7%.RB Global, Inc. (RBA) : This omnichannel marketplace provider has witnessed the Zacks Consensus Estimate for it ...

A month has gone by since the last earnings report for Bank of Hawaii (BOH) . Shares have added about 9.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Bank of Hawaii due for a pullback? 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 drivers. Bank of Hawaii Q3 Earnings Beat, Provisions & Ex ...