Financial Data and Key Metrics Changes - Net income for Q2 2023 was $62.4 million, or $0.49 per share, with a return on average tangible assets of 1.05% and return on average tangible common equity of 18.57% [5][6] - Total capital ratio was 13.17% and CET1 ratio was 12.05%, maintaining strong capital levels [5] - Noninterest income decreased by $1.7 million to $47.3 million, primarily due to lower BOLI income and credit/debit card fee income [8] Business Line Data and Key Metrics Changes - Period-end loans and leases increased by $142 million, or 1%, to $14.4 billion [6] - Retail and commercial deposits decreased by $964 million, or 4.9%, year-to-date, with public deposit balances increasing by $461 million [7][24] - Non-performing assets and loans 90 days or more past due were 11 basis points at the end of Q2, down 2 basis points from the prior quarter [26] Market Data and Key Metrics Changes - The statewide unemployment rate in Hawaii was 3% in June, lower than the national rate of 3.6% [4] - Total visitor arrivals in Hawaii were 802,000 in May, a 5.4% increase compared to May 2019 [4] - The median sales price for a single-family home on Oahu was $1.1 million, a 4.5% increase from June of the previous year [22] Company Strategy and Development Direction - The company aims to focus on relationship-based lending rather than credit-only deals, emphasizing the importance of liquidity and capital [48] - There is a strategic shift towards better pricing and structure in commercial real estate lending, both in Hawaii and on the Mainland [44] - The company is investing in technology and operational efficiencies to enhance digital offerings and customer service [65][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong credit quality despite economic uncertainties, with a focus on monitoring the commercial real estate segment [11][26] - The outlook for loan growth is projected to be in the low to mid-single-digit range for the full year [6][54] - Management noted that deposit outflows have shown signs of abating, with a trend towards stabilization [51] Other Important Information - The company exited approximately $55 million of non-relationship shared national credits during the quarter [6] - The allowance for credit loss increased by $1.5 million to $148.6 million, equating to 1.03% of total loans and leases [27] - The company maintained its quarterly dividend at $0.26 [5] Q&A Session Summary Question: What is the outlook for deposit outflows? - Management indicated that deposit outflows have been less severe in the current quarter compared to Q2, suggesting a potential stabilization trend [51] Question: Can you provide details on upcoming loan maturities? - Management discussed the NIM guidance and noted that new loan yields are currently higher than previous periods, indicating a more sustainable lending environment [36][58] Question: How is the company managing expenses amid margin pressures? - Management confirmed that they are focused on managing non-strategic expenses while continuing to invest in technology and personnel [66][82] Question: What is the company's strategy for new account growth? - The company is actively pursuing new deposit accounts through enhanced customer value propositions and improved digital offerings [38] Question: Can you clarify the company's exposure to criticized loans? - Management provided updates on specific criticized loans, indicating that they are comfortable with the overall credit quality of the portfolio [11][74]

July 28, 2023 1 Q2 2023 FINANCIAL HIGHLIGHTS1 (1) Comparisons to Q1 2023 (2) ROATA and ROATCE are non-GAAP financial measures. A reconciliation of average tangible assets and average tangible stockholders' equity to the comparable GAAP measurements is provided in the appendix of this slide presentation. (3) Declared on July 19, 2023. Payable September 1, 2023 to shareholders of record at close of business on August 21, 2023. 2 1Includes Cash and due from banks and Interest-bearing deposits in other banks • ...

Table of Contents 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, 2023 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 001-14585 FIRST HAWAIIAN, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 99-0156159 (State or Other Jur ...

Financial Data and Key Metrics Changes - The company reported a net income of $66.8 million or $0.52 per share for Q1 2023, with a return on tangible assets of 1.15% and a return on average tangible common equity of 20.78% [9] - The CET1 ratio was 11.97% and the total capital ratio was 13.09%, indicating strong capital levels [9] - Net interest income decreased by $4.5 million to $167.2 million, primarily due to higher interest expenses on deposits [19] - The net interest margin declined by 4 basis points to 3.11% [20] Business Line Data and Key Metrics Changes - Period-end loans and leases increased to $14.2 billion, a modest growth of $129 million or 0.9% from Q4 [12] - Deposit balances decreased by $408 million or 1.9% to $21.3 billion, with a decline in both commercial and retail deposits [14] - Non-interest income was $49 million, a slight increase of $900,000 from the prior quarter [23] Market Data and Key Metrics Changes - The unemployment rate in Hawaii was 3.5%, matching the national rate, while visitor spending in March was $1.8 billion, 23% higher than March 2019 [7] - The median single-family home price in March was about $1.1 million, down 5.8% from the previous year [8] Company Strategy and Development Direction - The company plans to focus resources on supporting customer relationships, expecting loan growth to slow to low-to-mid single-digit range for the rest of the year [12] - The company is maintaining a conservative approach to liquidity, having increased its liquidity position in response to recent banking industry volatility [10][45] Management's Comments on Operating Environment and Future Outlook - Management noted strong credit performance with year-to-date net charge-offs at $3.2 million and an annualized charge-off rate of 9 basis points [26] - The company anticipates a decline in net interest margin by 10 to 14 basis points in Q2 due to the impact of term borrowings [21] - Management expressed confidence in the stability of the deposit base despite recent banking disruptions, highlighting strong customer relationships [43] Other Important Information - The company has a loan-to-deposit ratio of 67% and a stable core deposit base [11] - The allowance for credit loss increased to $147.1 million, equating to 1.03% of all loans [28] Q&A Session Summary Question: What happened at the bank after the Silicon Valley Bank incident? - Management reported minimal impact on deposits, with only minor withdrawals and strong customer trust [42][44] Question: How does the company plan to manage its liquidity? - The company plans to monitor liquidity needs and may adjust its position based on market conditions [45][47] Question: What is the outlook for non-interest-bearing deposits? - The company has maintained a stable non-interest-bearing deposit ratio of around 41% and is optimistic about retaining this level [60][61] Question: How is the company positioned for potential rate cuts? - Management expects slight compression in net interest margin in a down rate scenario, depending on balance sheet dynamics [124] Question: What is the company's strategy regarding hedges? - The company is considering hedging strategies but is cautious due to uncertainties in rate movements and capital requirements [126]

7 4 STRONG PERFORMER IN ATTRACTIVE MARKET Market Cap $ 3.5 Loans $ 14.1 51 branches Assets $ 24.6 Deposits $ 21.7 Branch Presence Financial Overview – 4Q 2022 YTD ($ billions) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Part I [Business](index=3&type=section&id=Item%201.%20Business) First Hawaiian, Inc. operates First Hawaiian Bank, Hawaii's largest full-service bank with **$24.6 billion** in assets and 51 branches, offering diverse services across three segments under extensive regulation Company Snapshot (as of December 31, 2022) | Metric | Value | | :--- | :--- | | Total Assets | $24.6 billion | | Gross Loans and Leases | $14.1 billion | | Total Deposits | $21.7 billion | | Stockholders' Equity | $2.3 billion | | Net Income (FY 2022) | $265.7 million | | Diluted EPS (FY 2022) | $2.08 per share | | Branches | 51 (46 in Hawaii, 3 in Guam, 2 in Saipan) | - The company operates through three primary segments: Retail Banking, Commercial Banking, and Treasury and Other[16](index=16&type=chunk) - As of December 31, 2022, the company employed over **2,000** people with an average tenure of **11.8** years[17](index=17&type=chunk) - The company is extensively regulated by federal and state authorities, including the Federal Reserve, FDIC, Hawaii DFI, and the CFPB[31](index=31&type=chunk)[34](index=34&type=chunk)[36](index=36&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant market, credit, operational, and regulatory risks, particularly from its concentrated geographic markets, large real estate loan portfolio, cybersecurity threats, and evolving banking regulations - The business is highly dependent on the economies of Hawaii, Guam, and Saipan, which are influenced by tourism, U.S. military spending, and real estate[110](index=110&type=chunk) - As of December 31, 2022, real estate loans constituted approximately **73%** (**$10.3 billion**) of the total loan and lease portfolio, creating significant exposure to real estate market fluctuations[115](index=115&type=chunk) - The company faces operational risks from potential cybersecurity incidents, fraudulent activity, and reliance on third-party vendors for critical services like core banking and IT[142](index=142&type=chunk)[151](index=151&type=chunk) - Extensive regulation by federal and state agencies presents significant compliance risk. Changes in laws, capital requirements (Basel III), and consumer protection rules (CFPB) could adversely affect operations and profitability[168](index=168&type=chunk)[171](index=171&type=chunk)[176](index=176&type=chunk) [Unresolved Staff Comments](index=68&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - Not applicable[207](index=207&type=chunk) [Properties](index=68&type=section&id=Item%202.%20Properties) The company's headquarters are in Honolulu, Hawaii, operating **51** branch offices across its markets, with **30** leased and the rest owned - The company operates **51** branch offices, with **30** leased and **21** owned, including the corporate headquarters in Honolulu[208](index=208&type=chunk) [Legal Proceedings](index=68&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various litigation matters but does not anticipate any material adverse effect on its financial condition or operations - The company is not currently party to any legal proceedings expected to have a material adverse effect on its business or financial condition[209](index=209&type=chunk) [Mine Safety Disclosures](index=68&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[210](index=210&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=69&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) First Hawaiian, Inc. common stock trades on NASDAQ as FHB; the company authorized a new **$40 million** stock repurchase program for 2023, with no repurchases in Q4 2022 - The company's common stock is listed on the NASDAQ under the ticker symbol "FHB"[213](index=213&type=chunk) - No shares of the company's common stock were repurchased during the three months ended December 31, 2022[215](index=215&type=chunk) - On January 25, 2023, the Board of Directors authorized a new stock repurchase program for up to **$40 million** of common stock for 2023[216](index=216&type=chunk) Cumulative Total Stockholder Return (2017-2022) | Index | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | First Hawaiian, Inc. | $100.00 | $79.07 | $107.37 | $88.91 | $106.40 | $103.13 | | S&P 500 Index | $100.00 | $93.76 | $120.84 | $140.49 | $178.27 | $143.61 | | KBW Regional Banking Index | $100.00 | $80.63 | $97.07 | $85.33 | $113.65 | $102.90 | [Reserved](index=71&type=section&id=Item%206.%20Reserved) This section is not applicable - Not applicable[220](index=220&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=72&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Net income remained stable at **$265.7 million** in 2022, driven by increased net interest income, while loans grew **9%** to **$14.1 billion** and the company maintained a strong **11.82%** CET1 ratio amid Hawaii's economic recovery Key Financial Performance (FY 2022 vs. FY 2021) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Net Income | $265.7 million | $265.7 million | | Diluted EPS | $2.08 | $2.05 | | Net Interest Income | $613.5 million | $530.6 million | | Provision for Credit Losses | $1.4 million | ($39.0 million) | | Noninterest Income | $179.5 million | $184.9 million | | Noninterest Expense | $440.5 million | $405.5 million | Key Balance Sheet Items (as of Dec 31) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Total Loans and Leases | $14.1 billion | $13.0 billion | | Total Deposits | $21.7 billion | $21.8 billion | | Total Assets | $24.6 billion | $25.0 billion | | Total Stockholders' Equity | $2.3 billion | $2.7 billion | - The Hawaii economy continued to recover in 2022, with the statewide unemployment rate falling to **3.2%** from **5.7%** in 2021. Domestic visitor arrivals have nearly returned to pre-pandemic levels, though international tourism from Japan remains significantly lower[227](index=227&type=chunk)[228](index=228&type=chunk) - The company remains well-capitalized with a Common Equity Tier 1 (CET1) capital ratio of **11.82%** as of December 31, 2022[235](index=235&type=chunk)[388](index=388&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=151&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risk disclosures are integrated within Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations - Information regarding quantitative and qualitative disclosures about market risk is provided in Item 7 of the report[452](index=452&type=chunk) [Financial Statements and Supplementary Data](index=152&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited consolidated financial statements for 2022, with Deloitte & Touche LLP issuing an unqualified opinion on both financial statements and internal controls - The independent registered public accounting firm, Deloitte & Touche LLP, issued an unqualified opinion on the consolidated financial statements and the effectiveness of the company's internal control over financial reporting as of December 31, 2022[453](index=453&type=chunk)[454](index=454&type=chunk) - The critical audit matter identified was the Allowance for Credit Losses (ACL), specifically highlighting the significant judgment required by management in determining the economic forecast and qualitative overlays used in the ACL calculation[458](index=458&type=chunk)[460](index=460&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=272&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) This section is not applicable to the company - Not applicable[814](index=814&type=chunk) [Controls and Procedures](index=272&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management and auditors concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2022, with no material changes reported - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2022[815](index=815&type=chunk) - Management asserted that the company maintained effective internal control over financial reporting as of December 31, 2022, based on the COSO 2013 framework[818](index=818&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended December 31, 2022[820](index=820&type=chunk) [Other Information](index=277&type=section&id=Item%209B.%20Other%20Information) This section is not applicable to the company - Not applicable[830](index=830&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=277&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This section is not applicable to the company - Not applicable[831](index=831&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=277&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2023 Proxy Statement - Information for this item is incorporated by reference from the company's 2023 Proxy Statement[833](index=833&type=chunk)[835](index=835&type=chunk)[837](index=837&type=chunk) [Executive Compensation](index=277&type=section&id=Item%2011.%20Executive%20Compensation) Executive and director compensation details are incorporated by reference from the company's 2023 Proxy Statement - Information for this item is incorporated by reference from the company's 2023 Proxy Statement[838](index=838&type=chunk)[839](index=839&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=279&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information is incorporated by reference from the 2023 Proxy Statement, with **1,264,151** securities issuable under equity plans and **3,678,877** remaining available - Information regarding security ownership is incorporated by reference from the company's 2023 Proxy Statement[840](index=840&type=chunk) Equity Compensation Plan Information (as of Dec 31, 2022) | Plan Category | Securities to be Issued Upon Exercise | Securities Remaining for Future Issuance | | :--- | :--- | :--- | | Approved by security holders | 1,264,151 | 3,678,877 | | Not approved by security holders | 0 | 0 | | **Total** | **1,264,151** | **3,678,877** | [Certain Relationships and Related Transactions, and Director Independence](index=279&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Details on related party transactions and director independence are incorporated by reference from the 2023 Proxy Statement - Information for this item is incorporated by reference from the company's 2023 Proxy Statement[843](index=843&type=chunk)[844](index=844&type=chunk) [Principal Accounting Fees and Services](index=279&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Principal accounting fees and services information is incorporated by reference from the 2023 Proxy Statement - Information for this item is incorporated by reference from the company's 2023 Proxy Statement[845](index=845&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=280&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists financial statements from Item 8, omits schedules, and provides an index of all exhibits filed with the Form 10-K - This section contains the list of consolidated financial statements included in Item 8 and the Exhibit Index for the report[847](index=847&type=chunk)[850](index=850&type=chunk) - All financial statement schedules have been omitted because the required information is not applicable, not material, or is already disclosed elsewhere in the report[847](index=847&type=chunk) [Form 10-K Summary](index=280&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company has not provided a summary for its Form 10-K - None[848](index=848&type=chunk)

First Hawaiian, Inc. (NASDAQ:FHB) Q4 2022 Earnings Conference Call January 27, 2023 1:00 PM ET Company Participants Kevin Haseyama - Investor Relations Manager Robert Harrison - Chairman, President, and Chief Executive Officer Jamie Moses - Chief Financial Officer Ralph Mesick - Chief Risk Officer Conference Call Participants Steven Alexopoulus - J.P. Morgan Andrew Liesch - Piper Sandler Kelly Motta - KBW Jared Shaw - Wells Fargo Securities Laurie Hunsicker - Compass Point Operator Good day, and thank you f ...

Table of Contents 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 September 30, 2022 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 001-14585 FIRST HAWAIIAN, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 99-0156159 (State or Other ...

First Hawaiian, Inc. (NASDAQ:FHB) Q3 2022 Earnings Conference Call October 28, 2022 1:00 PM ET Company Participants Kevin Haseyama - Strategic Planning & IR Manager Robert Harrison - Chairman, President & CEO Ralph Mesick - Interim CFO, Finance Group, Vice Chairman & Chief Risk Officer of Risk Management Group Christopher Dods - Vice Chairman, Digital Banking & Marketing Group and COO Conference Call Participants Steven Alexopoulos - JPMorgan Chase & Co. David Feaster - Raymond James & Associates Andrew Lie ...

Table of Contents 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 June 30, 2022 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 001-14585 FIRST HAWAIIAN, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 99-0156159 (State or Other Juri ...