UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2024 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 Depository Shares, Each Representing 1/40 Interest in a Share of 4.375% Fixed Rate Non-Cumulative Preferred Stock, Series A BOH.PRA New ...

Financial Data and Key Metrics Changes - Net interest income was $113.9 million in Q1 2024, a decrease of $1.8 million from the previous quarter [26] - Net income increased by $6 million to $36.4 million, with earnings per common share rising by $0.15 to $0.87 [30] - Return on common equity was reported at 11.2% [30] - The net interest margin (NIM) decreased by 2 basis points for the quarter but showed significant directional improvement [16] Business Line Data and Key Metrics Changes - The loan portfolio is predominantly secured against real estate, with 85% comprising residential mortgages or home equity, maintaining a weighted average loan-to-value (LTV) of 51% [45] - The commercial loan portfolio stands at $5.8 billion, representing 42% of total loans, with commercial real estate making up $3.7 billion [20] - Delinquencies remained stable at 0.31%, while criticized loans increased by 4 basis points to 1.97% [25] Market Data and Key Metrics Changes - Total visitor expenditures and arrivals in Hawaii were down 1.9% and 0.6% respectively year-to-date as of February, but excluding Maui, these figures showed growth of 6.4% and 7.6% [12] - The Japan market saw significant growth, with expenditures up 57.8% and arrivals up 84.3% from the previous year [12] - The industrial vacancy rate in Hawaii is at a historic low of 0.64%, while office vacancy is slightly above the 10-year average at 13.45% [46] Company Strategy and Development Direction - The company emphasizes its strong deposit franchise, which has allowed it to maintain a total cost of deposits below industry norms [41] - The strategy includes organic loan growth and a focus on core markets, with a conservative underwriting approach across various property types [19][48] - The company plans to continue managing expenses in a disciplined manner amid inflationary pressures, with expected normalized expenses in 2024 increasing by 1% to 2% from 2023 [55] Management's Comments on Operating Environment and Future Outlook - Management noted a cautious outlook for consumer and commercial sectors due to the higher for longer interest rate environment [68] - The company expects continued pressure on deposit mix and pricing, leading to slightly higher overall deposit costs [28] - Management expressed confidence in the stability of the loan portfolio and the overall asset quality, despite some market uncertainties [50] Other Important Information - The company recognized $500,000 in severance expenses during the quarter, with adjusted core expenses at $103.2 million [29] - The effective tax rate for Q1 was 24.7%, with an expected rate of approximately 24.5% for 2024 [30] - The Board declared a dividend of $0.70 per common share for Q2 2024 [31] Q&A Session Summary Question: What is the outlook for net interest income and margin? - Management expects approximately $5 million in net interest income accretion per quarter from asset repricing, with a cautious view on margin trajectory due to deposit cost pressures [62][68] Question: How are deposit trends evolving? - Management noted a stabilization in average deposits around $20.5 billion, with a slowdown in the shift from non-interest bearing to interest-bearing deposits [76] Question: What is the company's approach to capital management? - The company is focused on growing capital rather than stock repurchase, reflecting caution in the current market environment [86]

disclosure 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 to reflect later events or circumstances highlights Corporation strong credit | --- | --- | |-----------|--------------- ...

| --- | --- | --- | --- | --- | |--------------------------------------------------------|-----------------------------------------------------|---------------|--------------------------------------|----------| | (1-year percentage change, except months of inventory) | March 31, \n2024 2023 | | December 31, \n2022 | 2021 | | Housing Trends (Single Family Oahu) | | | | | | Median Home Price | 4.4 % | (5.0 ) % | 11.6 % | 19.3 % | | Home Sales Volume (units) | 6.1 % | (26.3 ) % | (23.2 ) % | 17.9 % | | Months ...

For the quarter ended March 2024, Bank of Hawaii (BOH) reported revenue of $156.22 million, down 11.6% over the same period last year. EPS came in at $0.87, compared to $1.14 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $160.79 million, representing a surprise of -2.84%. The company delivered an EPS surprise of -5.43%, with the consensus EPS estimate being $0.92.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Bank of Hawaii (BOH) came out with quarterly earnings of $0.87 per share, missing the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.43%. A quarter ago, it was expected that this bank holding company would post earnings of $0.89 per share when it actually produced earnings of $0.72, delivering a surprise of -19.10%.Over the last four quarters, ...

Wall Street analysts expect Bank of Hawaii (BOH) to post quarterly earnings of $0.92 per share in its upcoming report, which indicates a year-over-year decline of 19.3%. Revenues are expected to be $160.79 million, down 9% from the year-ago quarter.The current level reflects an upward revision of 1.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a co ...

The market expects Bank of Hawaii (BOH) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

The following MD&A is intended to help the reader understand the Company and its operations and is focused on our fiscal 2023 and 2022 financial results, including comparisons of year-to-year performance between these years. Discussion and analysis of our 2021 fiscal year, as well as the year-to-year comparison between fiscal 2022 and 2021, are included "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 in our Annual Report on Form 10-K for the fiscal ...

Bank of Hawaii Corporation (BOH) reported fourth-quarter 2023 earnings per share (EPS) of 72 cents, missing the Zacks Consensus Estimate of 89 cents. The bottom line compared unfavorably with $1.50 earned in the year-ago quarter.The EPS for the reported quarter included an FDIC Special Assessment charge of 29 cents. Excluding this, adjusted EPS would have been $1.01.BOH's quarterly results were affected by a decline in net interest income (NII) and a rise in provisions and expenses. However, improvement in ...