Bank of Hawaii(BOH) - 2025 Q3 - Quarterly Results

Financial Performance - Diluted earnings per common share for Q3 2025 were $1.20, up 13.2% from the linked quarter and up 29.0% from the same period last year[2] - Net income for Q3 2025 was $53.3 million, representing a 12.0% increase from the linked quarter and a 32.2% increase year-over-year[2] - Net income for the three months ended September 30, 2025, was $53,345,000, representing a 12.5% increase from $47,637,000 in the previous quarter and a 32.2% increase from $40,358,000 year-over-year[28] - Basic earnings per common share for the three months ended September 30, 2025, was $1.21, compared to $0.94 in the same quarter last year, representing a growth of 29%[34] - Net income available to common shareholders for Q3 2025 was $48.1 million, up from $36.9 million in Q3 2024, representing a year-over-year increase of 30.0%[55] Income and Expenses - Net interest income for Q3 2025 was $136.7 million, an increase of 5.4% from the linked quarter and 16.2% from the same period last year[4] - Noninterest income was $46.0 million in Q3 2025, a 2.6% increase from the linked quarter and a 1.9% increase year-over-year[8] - Noninterest expense was $112.4 million in Q3 2025, up 1.4% from the linked quarter and up 4.9% from the same period last year[9] - Total noninterest income for the three months ended September 30, 2025, was $45,966,000, a slight increase from $44,795,000 in the previous quarter and comparable to $45,110,000 in the same period last year[28] - Total noninterest expense for the three months ended September 30, 2025, was $112,387,000, an increase from $107,092,000 in the same quarter last year, indicating a rise of 5%[34] Assets and Liabilities - Total assets were $24.0 billion at September 30, 2025, an increase of 1.3% from June 30, 2025[15] - Total loans and leases were $14.0 billion at September 30, 2025, a slight increase of 0.1% from the linked quarter[17] - Total deposits were $21.1 billion at September 30, 2025, an increase of 1.4% from June 30, 2025[18] - Total assets as of September 30, 2025, were $24,014,609,000, compared to $23,799,174,000 as of September 30, 2024[54] - Total deposits increased to $21.1 billion in Q3 2025, up from $21.0 billion in Q3 2024, showing a growth of 0.3%[55] Capital and Ratios - The Tier 1 Capital Ratio was 14.34% at September 30, 2025, up from 14.17% at June 30, 2025[20] - The tangible common equity to tangible assets ratio was 5.90% as of September 30, 2025, compared to 5.77% in the previous quarter and 5.48% year-over-year[31] - The return on average assets was 0.88% for the three months ended September 30, 2025, up from 0.81% in the previous quarter and 0.69% in the same period last year[28] - The return on average shareholders' equity increased to 12.10% for the three months ended September 30, 2025, compared to 11.21% in the previous quarter and 9.90% year-over-year[28] Credit Quality - The provision for credit losses decreased to $2,500,000 for the three months ended September 30, 2025, down from $3,250,000 in the previous quarter and $3,000,000 in the same period last year[28] - Non-performing assets totaled $16,864 as of September 30, 2025, a decrease from $17,881 in June 2025, representing a reduction of approximately 5.67%[52] - The ratio of non-performing assets to total loans and leases and foreclosed real estate was 0.12% as of September 30, 2025, unchanged from the previous quarter[52] - The total reserve for credit losses at the end of the period was $150,051,000, compared to $150,325,000 at the end of September 2024[53] Interest Income and Expense - Total interest income for the three months ended September 30, 2025, was $227,708,000, compared to $220,648,000 in the same quarter last year, reflecting a growth of 3%[34] - The total interest expense for the three months ended September 30, 2025, was $91,033,000, a decrease from $103,030,000 in the same quarter last year, reflecting a decline of 12%[34] - Net interest income after provision for credit losses for the nine months ended September 30, 2025, was $383,165,000, up 13% from $339,002,000 for the same period last year[34] - The total change in interest income for the three months ended September 30, 2025, was $9.2 million, with a volume increase of $5.7 million and a rate increase of $3.5 million compared to June 30, 2025[43]