Bank of Hawai'i Corporation third quarter 2024 financial report October 28, 2024 disclosure Corporation 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 forecasts and expectations. we have not committed to update forward-looking statements ...

Financial Performance - Diluted earnings per common share for Q3 2024 were $0.93, up 14.8% from the linked quarter but down 20.5% year-over-year[1]. - Net income for Q3 2024 was $40.4 million, an increase of 18.4% from the linked quarter but a decrease of 15.8% from the same period last year[1]. - Net income for the three months ended September 30, 2024, was $40,358, compared to $34,083 in the previous quarter, reflecting a 18.5% increase[24]. - Net income for the three months ended September 30, 2024, was $40,358,000, down 15.7% from $47,903,000 in the same period last year[26]. - Comprehensive income for the three months ended September 30, 2024, was $79,359,000, compared to $29,723,000 in the same period last year, reflecting a significant increase[27]. Income and Expenses - Net interest income was $117.6 million, a 2.4% increase from the linked quarter but a 2.7% decrease year-over-year[3]. - Noninterest income reached $45.1 million, up 7.2% from the linked quarter but down 10.4% year-over-year[6]. - Total noninterest income rose to $45,110, up from $42,087 in the previous quarter[24]. - Total noninterest expense for the three months ended September 30, 2024, was $107,092,000, slightly down from $105,601,000 in the same period last year[26]. - Total interest income for the quarter ended September 2024 was $220,648,000, an increase from $213,530,000 in the previous quarter[49]. Assets and Liabilities - Total assets were $23.8 billion, reflecting a 2.1% increase from the linked quarter and a 1.1% increase year-over-year[13]. - Total assets as of September 30, 2024, were $23,799,174, an increase from $23,300,768 at the end of the previous quarter[25]. - Total liabilities stood at $22,133,700 thousand, an increase from $21,687,919 thousand in the previous quarter, representing a rise of 2.04%[28]. - Total deposits amounted to $21.0 billion, a 2.8% increase from the linked quarter and a 0.8% increase year-over-year[16]. - Total deposits as of September 30, 2024, reached $20,978,322, an increase from $20,408,502 on June 30, 2024, representing a growth of 2.8%[39]. Capital Ratios - The Tier 1 Capital Ratio was 14.05%, up from 13.96% in the linked quarter and significantly up from 12.53% year-over-year[17]. - The Tier 1 capital ratio as of September 30, 2024, was 14.05%, up from 13.96% in the previous quarter[25]. - Shareholders' equity increased to $1,665,474 from $1,612,849 in the previous quarter[25]. - Shareholders' equity rose to $1,621.9 million, indicating a strong capital position[30]. Credit Quality - Non-performing assets totaled $19.8 million, an increase of $4.6 million from the linked quarter and $8.3 million from the same period last year[10]. - Non-performing assets increased to $19,781 from $15,179 in the previous quarter[24]. - The provision for credit losses increased to $3,000 for the quarter, compared to $2,400 in the previous quarter[24]. - The ratio of non-performing assets to total loans and leases was 0.14% as of September 30, 2024, up from 0.11% in the previous quarter[42]. - The net charged-off loans and leases for the three months ended September 30, 2024, totaled $3,830 thousand, compared to $2,049 thousand in the same period of 2023, indicating an increase of 87%[43]. Yield and Margin - The average yield on loans and leases was 4.82%, up 6 basis points from the linked quarter and up 48 basis points year-over-year[5]. - The net interest margin for the nine months ended September 30, 2024, was 3.98%, compared to 3.57% for the same period in 2023, showing an improvement of 41 basis points[31]. - The interest rate spread was reported at 1.47% for the current quarter[30]. Dividends - The company declared dividends of $0.70 per common share for the three months ended September 30, 2024, consistent with the previous quarter[26]. - Cash dividends declared for common stock were $84,209 thousand, maintaining a consistent dividend policy at $2.10 per share[29]. Visitor Arrivals and Market Trends - Monthly visitor arrivals in August 2024 reached 819.2 thousand, reflecting a 6.9% increase from the previous year[51]. - Home sales volume rose by 5.8% year-over-year, but saw a significant decline of 26.3% from the previous quarter[51]. - The median home price increased by 4.8% compared to the previous year, while it decreased by 5.0% from the previous quarter[51].

Investment Securities Available-for-Sale For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of June 30, 2024 and December 31, 2023, the significant unobservable inputs used in the fair value measurements were as follows: Table of Contents | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------|----------|-------|------------------------------------------- ...

Bank of Hawaii Corporation (NYSE:BOH) Q2 2024 Earnings Conference Call July 22, 2024 2:00 PM ET Company Participants Chang Park - Senior Vice President, Investor Relations Director Peter Ho - Chairman and Chief Executive Officer Bradley Shairson - Vice Chair and Chief Risk Officer Dean Shigemura - Vice Chair and Chief Financial Officer James Polk - President and Chief Banking Officer Conference Call Participants Jeffrey Rulis - D.A. Davison Andrew Liesch - Piper Sandler Kelly Motta - KBW Jared Shaw - Barcla ...

FOR IMMEDIATE RELEASE Bank of Hawai'i Corporation Second Quarter 2024 Financial Results HONOLULU, HI (July 22, 2024) -- Bank of Hawai'i Corporation (NYSE: BOH) today reported diluted earnings per common share of $0.81 for the second quarter of 2024, compared with diluted earnings per common share of $0.87 in the previous quarter and $1.12 in the same quarter of 2023. An industry-wide FDIC Special Assessment resulted in a $2.6 million one-time charge in the second quarter of 2024 which negatively impacted di ...

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 ...

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 ...