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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of ReportJuly 28, 2025
(Date of earliest event reported)
BANK OF HAWAII CORPORATION
(Exact name of registrant as specified in its charter)
Delaware1-688799-0148992
(State of Incorporation)(Commission File Number)(IRS Employer Identification No.)
130 Merchant StreetHonoluluHawaii96813
(Address of principal executive offices)(City)(State)(Zip Code)
(888) 643-3888
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareBOHNew York Stock Exchange
Depository Shares, Each Representing 1/40th Interest in a Share of 4.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
BOH.PRANew York Stock Exchange
Depository Shares, Each Representing 1/40th Interest in a Share of 8.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B
BOH.PRBNew York Stock Exchange
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02.Results of Operations and Financial Condition.
On July 28, 2025, Bank of Hawaii Corporation announced its results of operations for the quarter ended June 30, 2025. The public announcement was made by means of a press release, the text of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits
Exhibit No.
99.1
99.2
104Cover Page Interactive Data File (embedded within the Inline XBRL document)



Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 28, 2025
Bank of Hawaii Corporation
By:/s/ Patrick M. McGuirk
Patrick M. McGuirk
Vice Chair and Chief Administrative Officer



Exhibit 99.1
img208590026_0.jpg
Bank of Hawai‘i Corporation Second Quarter 2025 Financial Results
Diluted Earnings Per Common Share of $1.06
Net Income of $47.6 million
Net Interest Income $129.7 million
Net Interest Margin 2.39%
Board of Directors Declares Dividend of $0.70 Per Common Share
FOR IMMEDIATE RELEASE

HONOLULU, HI (July 28, 2025) -- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $1.06 for the second quarter of 2025, compared with $0.97 during the linked quarter and $0.81 during the same period last year. Net income for the second quarter of 2025 was $47.6 million, up 8.3% from the linked quarter and up 39.8% from the same period last year. The return on average common equity for the second quarter of 2025 was 12.50% compared with 11.80% during the linked quarter and 10.41% during the same period last year.

“Bank of Hawai‘i continued to perform well during the second quarter of 2025,” said Peter Ho, Chairman and CEO. “Our net interest income and net interest margin expanded for the fifth consecutive quarter. Average deposit balances grew while average loan balances held steady. Our credit quality remained excellent, and we continued to maintain our disciplined approach to expense management.”

Financial Highlights

Net interest income for the second quarter of 2025 was $129.7 million, an increase of 3.1% from the linked quarter and an increase of 12.9% as compared to the same period last year. The increase from the previous quarter was primarily driven by higher earning asset yields, as cash flows from fixed rate assets rolling off at lower interest rates were reinvested at higher current rates (fixed asset repricing). The increase from the same period last year was primarily due to lower interest-bearing deposit rates, slowing of the shift from noninterest-bearing and interest-bearing accounts with rates less than 10 basis points to higher interest-bearing deposit accounts (deposit mix shift) and higher average balance of our earning assets.

Net interest margin was 2.39% in the second quarter of 2025, an increase of 7 basis points from the linked quarter and an increase of 24 basis points from the same period last year. As discussed above, the increase from the previous quarter was primarily due to fixed asset repricing. The increase from the same period last year was primarily due to lower interest-bearing deposit rates and slowing of deposit mix shift.

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Bank of Hawai‘i Corporation Second Quarter 2025 Financial Results     
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The average yield on loans and leases was 4.80% in the second quarter of 2025, up 8 basis points from the linked quarter and up 4 basis points from the same period last year. The average yield on total earning assets was 4.01% in the second quarter of 2025, up 6 basis points from the linked quarter and up 2 basis points from the same period last year. The average rate of interest-bearing deposits was 2.16% in the second quarter of 2025, flat from the linked quarter and down 30 basis points from the same period last year. The average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.60%, flat from the linked quarter and down 21 basis points from the same period last year. The decrease in deposit rates from the same period last year was primarily due to lower benchmark interest rates and the slowing of the deposit mix shift.

Noninterest income was $44.8 million in the second quarter of 2025, an increase of 1.7% from the linked quarter and an increase of 6.4% from the same period in 2024. Noninterest income in the second quarter included an $0.8 million gain related to a BOLI recovery, while the linked quarter included a $0.6 million charge related to a Visa B conversion ratio change. Adjusted for these items, noninterest income decreased by 1.5% from the linked quarter and increased by 4.5% from the same period in 2024. The decrease from the linked quarter was primarily due to lower customer derivative activity and decreases in mortgage banking income and service charges on deposit accounts, partially offset by an increase in trust and asset management income. The increase from the same period last year was primarily due to increases in other income, services charges on deposit accounts, fees, exchange, and other service charges, bank-owned life insurance income and a decrease in investment securities losses.
Noninterest expense was $110.8 million in the second quarter of 2025, an increase of 0.3% from the linked quarter and an increase of 1.4% from the same period last year. The increase from the linked quarter was primarily due to higher FDIC insurance costs, partially offset by lower salaries and benefits. The increase from the same period last year was primarily due to higher salaries and benefits, partially offset by lower FDIC insurance costs.

The effective tax rate for the second quarter of 2025 was 21.19% compared with 21.67% during the linked quarter and 24.77% during the same period last year. The lower effective tax rate in the current quarter as compared to the linked quarter was primarily due to an increase in tax-exempt income. Compared to the same period last year, the decrease was primarily due to a decrease in tax expense from discrete items and an increase in tax-exempt income.
Asset Quality
The Company’s overall asset quality remained strong during the second quarter of 2025. Provision for credit losses for the second quarter of 2025 was $3.3 million, unchanged from the linked quarter and up from $2.4 million in the same period last year.
Total non-performing assets were $17.9 million at June 30, 2025, up $0.4 million from March 31, 2025 and up $2.7 million from June 30, 2024. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.13% at the end of the quarter, an increase of 1 basis point from the linked quarter and an increase of 2 basis points from the same period last year.
Net loan and lease charge-offs during the second quarter of 2025 were $2.6 million or 7 basis points annualized of total average loans and leases outstanding and comprised of gross charge-offs of $4.0 million partially offset by gross recoveries of $1.4 million. Compared to the linked quarter, net loan and lease charge-offs decreased by $1.8 million or 6 basis points annualized on total average loans and leases outstanding. Compared to the same period last year, net loan and lease charge-offs decreased by $0.8 million or 3 basis points annualized on total average loans and leases outstanding.
The allowance for credit losses on loans and leases was $148.5 million at June 30, 2025, an increase of $0.8 million from March 31, 2025 and an increase of $1.1 million from June 30, 2024. The ratio of the
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Bank of Hawai‘i Corporation Second Quarter 2025 Financial Results     
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allowance for credit losses to total loans and leases outstanding was 1.06% at the end of the quarter, up 1 basis point from the linked quarter and down 1 basis point from the same period last year.

Balance Sheet

Total assets were $23.7 billion at June 30, 2025, a decrease of 0.7% from March 31, 2025 and an increase of 1.8% from June 30, 2024. The decrease from the linked quarter was primarily due to decreases in cash and cash equivalents and loans, partially offset by an increase in investment securities. The increase from the same period last year was primarily due to increases in loans and investment securities, partially offset by a decrease in cash and cash equivalents.

The investment securities portfolio was $7.6 billion at June 30, 2025, an increase of 1.8% from March 31, 2025 and an increase of 6.2% from June 30, 2024. The increase from the prior periods was primarily due to the purchases of investment securities, partially offset by the amortization of the portfolio. The investment portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises.

Total loans and leases were $14.0 billion at June 30, 2025, a decrease of 0.8% from March 31, 2025 and an increase of 1.2% from June 30, 2024. Total commercial loans were $6.1 billion at June 30, 2025, a decrease of 1.5% from March 31, 2025 and an increase of 5.0% from June 30, 2024. The decrease from the linked quarter was primarily due to modest loan production within our commercial and industrial portfolio. The increase from the same period last year was primarily due to loan production outpacing loan amortization and paydowns within our commercial mortgage portfolio. Total consumer loans were $7.9 billion at June 30, 2025, a decrease of 0.2% from the linked quarter and a decrease of 1.5% from the same period last year. The decrease from the prior periods was due to declines in our automobile and home equity portfolios.

Total deposits were $20.8 billion at June 30, 2025, a decrease of 1.0% from March 31, 2025 and an increase of 1.9% from June 30, 2024. Noninterest-bearing deposits made up 26.1% of total deposit balances at June 30, 2025, flat from March 31, 2025 and down from 26.3% at June 30, 2024. Average total deposits were $20.7 billion for the second quarter of 2025, up 0.1% from the linked quarter and up 1.7% from the same period last year.

Capital and Dividends

The Company’s capital levels remain well above regulatory well-capitalized minimums.

The Tier 1 Capital Ratio was 14.17% at June 30, 2025 compared with 13.93% at March 31, 2025 and 13.96% at June 30, 2024. The increase from the linked quarter was due to retained earnings growth and decreases in risk-weighted assets. The increase from the same period last year was primarily due to retained earnings growth. The Tier 1 Leverage Ratio was 8.46% at June 30, 2025, compared with 8.36% at March 31, 2025 and 8.37% at June 30, 2024. The increase from the linked quarter was due to a decrease in average total assets and an increase in retained earnings. The increase from the same period last year was due to an increase in retained earnings, partially offset by an increase in average total assets.

No shares of common stock were repurchased under the share repurchase program in the second quarter of 2025. Total remaining buyback authority under the share repurchase program was $126.0 million at June 30, 2025.
The Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company’s outstanding common shares. The dividend will be payable on September 15, 2025 to shareholders of record at the close of business on August 29, 2025.
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Bank of Hawai‘i Corporation Second Quarter 2025 Financial Results     
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On July 3, 2025, the Company announced that the Board of Directors declared a quarterly dividend payment of $10.94 per share, equivalent to $0.2735 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, and a quarterly dividend payment of $20.00 per share, equivalent to $0.5000 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares representing the Series A Preferred Stock and Series B Preferred Stock are traded on the NYSE under the symbol “BOH.PRA” and “BOH.PRB”, respectively. The dividends on the Series A Preferred Stock and Series B Preferred Stock will be payable on August 1, 2025 to shareholders of record of the preferred stock as of the close of business on July 17, 2025.

Conference Call Information

The Company will review its second quarter financial results today at 8:00 a.m. Hawai‘i Time (2:00 p.m. Eastern Time). The live call, including a slide presentation, will be accessible on the investor relations link of Bank of Hawai‘i Corporation's website, www.boh.com. The webcast can be accessed via the link: https://register-conf.media-server.com/register/BIa6a93d497eb94850bae6b073c733bfa9. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, July 28, 2025. The replay will be available on the Company's website, www.boh.com.

Investor Announcements

Investors and others should note that the Company intends to announce financial and other information to the Company’s investors using the Company’s investor relations website at https://ir.boh.com, social media channels, press releases, SEC filings and public conference calls and webcasts, all for purposes of complying with the Company’s disclosure obligations under Regulation FD. Accordingly, investors should monitor these channels, as information is updated, and new information is posted.

Forward-Looking Statements

This news release, and other statements made by the Company in connection with it may contain "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties that could cause results to be materially different from expectations. Forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations are examples of certain of these forward-looking statements. Do not unduly rely on forward-looking statements. Actual results might differ significantly from our forecasts and expectations because of a variety of factors. More information about these factors is contained in Bank of Hawai‘i Corporation's Annual Report on Form 10-K for the year ended December 31, 2024 and its Form 10-Q for fiscal quarter ended March 31, 2025, which were filed with the U.S. Securities and Exchange Commission. These forward-looking statements are not guarantees of future performance and speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

Bank of Hawai‘i Corporation is an independent regional financial services company serving businesses, consumers, and governments in Hawai‘i and the West Pacific. The Company's principal subsidiary, Bank of Hawai‘i, was founded in 1897. For more information about Bank of Hawai‘i Corporation, see the Company’s website, www.boh.com. Bank of Hawai‘i Corporation is a trade name of Bank of Hawaii Corporation.
# # # #



Bank of Hawai‘i Corporation and Subsidiaries
Financial HighlightsTable 1
Three Months EndedSix Months Ended
(dollars in thousands, except per share amounts)June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024
For the Period:
Operating Results
Net Interest Income$129,683 $125,807 $114,846 $255,490 $228,784 
Provision for Credit Losses3,250 3,250 2,400 6,500 4,400 
Total Noninterest Income44,795 44,058 42,087 88,853 84,372 
Total Noninterest Expense110,783 110,459 109,226 221,242 215,085 
Pre-Provision Net Revenue63,695 59,406 47,707 123,101 98,071 
Net Income47,637 43,985 34,083 91,622 70,474 
Net Income Available to Common Shareholders42,368 38,716 32,114 81,084 66,536 
Basic Earnings Per Common Share1.07 0.98 0.81 2.05 1.69 
Diluted Earnings Per Common Share1.06 0.97 0.81 2.03 1.68 
Dividends Declared Per Common Share0.70 0.70 0.70 1.40 1.40 
Performance Ratios
Return on Average Assets0.81 %0.75 %0.59 %0.78 %0.61 %
Return on Average Shareholders' Equity11.21 10.65 9.53 10.93 9.93 
Return on Average Common Equity12.50 11.80 10.41 12.16 10.81 
Efficiency Ratio 1
63.49 65.03 69.60 64.25 68.68 
Net Interest Margin 2
2.39 2.32 2.15 2.36 2.13 
Dividend Payout Ratio 3
65.42 71.43 86.42 68.29 82.84 
Average Shareholders' Equity to Average Assets7.22 7.09 6.22 7.16 6.15 
Average Balances
Average Loans and Leases$14,049,025 $14,062,173 $13,831,797 $14,055,563 $13,850,299 
Average Assets23,596,955 23,638,068 23,145,107 23,617,398 23,213,336 
Average Deposits20,699,694 20,669,539 20,358,393 20,684,700 20,451,017 
Average Shareholders' Equity1,704,415 1,675,571 1,438,476 1,690,073 1,427,289 
Per Share of Common Stock
Book Value$35.16 $34.23 $31.91 $35.16 $31.91 
Tangible Book Value34.37 33.43 31.12 34.37 31.12 
Market Value
Closing67.53 68.97 57.21 67.53 57.21 
High71.35 76.00 62.53 76.00 73.73 
Low57.45 65.82 54.50 57.45 54.50 
June 30, 2025March 31, 2025December 31, 2024June 30, 2024
As of Period End:
Balance Sheet Totals
Loans and Leases$14,002,178$14,115,323$14,075,980$13,831,266
Total Assets23,709,75223,885,05623,601,11423,300,768
Total Deposits20,798,91421,008,21720,633,03720,408,502
Other Debt558,226558,250558,274560,136
Total Shareholders' Equity1,743,1071,704,9351,667,7741,612,849
Asset Quality
Non-Performing Assets$17,881$17,451$19,300$15,179
Allowance for Credit Losses - Loans and Leases148,543147,707148,528147,477
Allowance to Loans and Leases Outstanding 4
1.06 %1.05 %1.06 %1.07 %
Capital Ratios 5
Common Equity Tier 1 Capital Ratio 6
11.81 %11.58 %11.59 %11.56 %
Tier 1 Capital Ratio 6
14.17 13.93 13.95 13.96 
Total Capital Ratio 6
15.23 14.97 15.00 15.02 
Tier 1 Leverage Ratio8.46 8.36 8.31 8.37 
Total Shareholders' Equity to Total Assets7.35 7.14 7.07 6.92 
Tangible Common Equity to Tangible Assets 7
5.77 5.57 5.48 5.31 
Tangible Common Equity to Risk-Weighted Assets 6, 7
9.629.289.088.80
Non-Financial Data
Full-Time Equivalent Employees1,9211,8761,8651,910
Branches51505050
ATMs317316317317
1.Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).
2.Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.
3.Dividend payout ratio is defined as dividends declared per common share divided by basic earnings per common share.
4.The numerator comprises the Allowance for Credit Losses - Loans and Leases.
5.Regulatory capital ratios as of June 30, 2025 are preliminary.
6.Capital ratios as of June 30, 2024 have been updated to reflect final reported ratio.
7.Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. Tangible common equity is defined by the Company as common shareholders' equity minus goodwill. See Table 2 "Reconciliation of Non-GAAP Financial Measures".



Bank of Hawai‘i Corporation and Subsidiaries
Reconciliation of Non-GAAP Financial MeasuresTable 2
(dollars in thousands)June 30, 2025March 31, 2025December 31, 2024June 30, 2024
Total Shareholders' Equity$1,743,107$1,704,935$1,667,774$1,612,849
Less: Preferred Stock345,000345,000345,000345,000
Goodwill31,51731,51731,51731,517
Tangible Common Equity$1,366,590$1,328,418$1,291,257$1,236,332
Total Assets$23,709,752$23,885,056$23,601,114$23,300,768
Less: Goodwill31,51731,51731,51731,517
Tangible Assets$23,678,235$23,853,539$23,569,597$23,269,251
Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1, 2
$14,208,032 $14,319,932$14,225,908$14,051,627
Total Shareholders' Equity to Total Assets7.35%7.14%7.07%6.92%
Tangible Common Equity to Tangible Assets (Non-GAAP)5.77%5.57%5.48%5.31%
Tier 1 Capital Ratio 1, 2
14.17%13.93%13.95%13.96%
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1, 2
9.62%9.28%9.08%8.80 %
1Regulatory capital ratios as of June 30, 2025 are preliminary.
2Capital ratios as of June 30, 2024 have been updated to reflect final reported ratios.



Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of IncomeTable 3
Three Months EndedSix Months Ended
(dollars in thousands, except per share amounts)June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024
Interest Income
Interest and Fees on Loans and Leases$166,779 $163,082 $163,208 $329,861 $322,544 
Income on Investment Securities
Available-for-Sale27,007 24,368 21,468 51,375 43,225 
Held-to-Maturity19,835 20,291 21,595 40,126 43,731 
Cash and Cash Equivalents3,817 5,460 6,139 9,277 12,296 
Other1,097 1,085 1,120 2,182 2,090 
Total Interest Income218,535 214,286 213,530 432,821 423,886 
Interest Expense
Deposits82,476 81,692 91,542 164,168 180,598 
Securities Sold Under Agreements to Repurchase491 744 1,180 1,235 2,623 
Other Debt5,885 6,043 5,962 11,928 11,881 
Total Interest Expense88,852 88,479 98,684 177,331 195,102 
Net Interest Income129,683 125,807 114,846 255,490 228,784 
Provision for Credit Losses3,250 3,250 2,400 6,500 4,400 
Net Interest Income After Provision for Credit Losses126,433 122,557 112,446 248,990 224,384 
Noninterest Income
Fees, Exchange, and Other Service Charges14,383 14,437 13,769 28,820 27,892 
Trust and Asset Management12,097 11,741 12,223 23,838 23,412 
Service Charges on Deposit Accounts8,119 8,259 7,730 16,378 15,677 
Bank-Owned Life Insurance3,714 3,611 3,396 7,325 6,752 
Annuity and Insurance1,437 1,555 1,583 2,992 2,629 
Mortgage Banking849 988 1,028 1,837 1,979 
Investment Securities Losses, Net(1,126)(1,607)(1,601)(2,733)(3,098)
Other5,322 5,074 3,959 10,396 9,129 
Total Noninterest Income44,795 44,058 42,087 88,853 84,372 
Noninterest Expense
Salaries and Benefits61,308 62,884 57,033 124,192 115,248 
Net Occupancy10,499 10,559 10,559 21,058 21,015 
Net Equipment9,977 10,192 10,355 20,169 20,458 
Data Processing5,456 5,267 4,745 10,723 9,515 
Professional Fees4,263 4,264 4,929 8,527 9,606 
FDIC Insurance3,640 1,642 7,170 5,282 10,784 
Other15,640 15,651 14,435 31,291 28,459 
Total Noninterest Expense110,783 110,459 109,226 221,242 215,085 
Income Before Provision for Income Taxes60,445 56,156 45,307 116,601 93,671 
Provision for Income Taxes12,808 12,171 11,224 24,979 23,197 
Net Income$47,637 $43,985 $34,083 $91,622 $70,474 
Preferred Stock Dividends5,269 5,269 1,969 10,538 3,938 
Net Income Available to Common Shareholders$42,368 $38,716 $32,114 $81,084 $66,536 
Basic Earnings Per Common Share$1.07 $0.98 $0.81 $2.05 $1.69 
Diluted Earnings Per Common Share$1.06 $0.97 $0.81 $2.03 $1.68 
Dividends Declared Per Common Share$0.70 $0.70 $0.70 $1.40 $1.40 
Basic Weighted Average Common Shares39,622,99839,554,83439,450,55139,588,91639,400,452
Diluted Weighted Average Common Shares39,895,09339,876,40639,618,70539,888,29439,618,774



Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of Comprehensive IncomeTable 4
Three Months EndedSix Months Ended
(dollars in thousands)June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024
Net Income$47,637 $43,985 $34,083 $91,622 $70,474 
Other Comprehensive Income, Net of Tax:
Net Change in Unrealized Gains on Investment Securities18,970 24,760 9,052 43,730 21,990 
Net Change in Defined Benefit Plans233 232 168 465 337 
Other Comprehensive Income19,203 24,992 9,220 44,195 22,327 
Comprehensive Income$66,840 $68,977 $43,303 $135,817 $92,801 



Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of ConditionTable 5
(dollars in thousands, except per share amounts)June 30, 2025March 31, 2025December 31, 2024June 30, 2024
Assets
Cash and Cash Equivalents$768,683 $935,200 $763,571 $925,338 
Investment Securities
Available-for-Sale3,111,504 2,887,019 2,689,528 2,298,092 
Held-to-Maturity (Fair Value of $3,754,794; 3,823,655; $3,820,882; and $4,002,122)
4,441,353 4,535,108 4,618,543 4,812,954 
Loans Held for Sale1,867 2,640 2,150 2,664 
Loans and Leases14,002,178 14,115,323 14,075,980 13,831,266 
Allowance for Credit Losses(148,543)(147,707)(148,528)(147,477)
Net Loans and Leases13,853,635 13,967,616 13,927,452 13,683,789 
Premises and Equipment, Net192,221 187,858 184,480 192,319 
Operating Lease Right-of-Use Assets83,594 83,577 80,165 84,757 
Accrued Interest Receivable67,204 67,706 66,367 67,554 
Mortgage Servicing Rights18,362 18,770 19,199 19,954 
Goodwill31,517 31,517 31,517 31,517 
Bank-Owned Life Insurance488,028 481,260 481,184 470,708 
Other Assets651,784 686,785 736,958 711,122 
Total Assets$23,709,752 $23,885,056 $23,601,114 $23,300,768 
Liabilities
Deposits
Noninterest-Bearing Demand$5,424,471 $5,493,232 $5,423,562 $5,371,593 
Interest-Bearing Demand3,855,120 3,775,948 3,784,984 3,928,295 
Savings8,481,328 8,700,143 8,364,916 8,207,902 
Time3,037,995 3,038,894 3,059,575 2,900,712 
Total Deposits20,798,914 21,008,217 20,633,037 20,408,502 
Securities Sold Under Agreements to Repurchase50,000 50,000 100,000 100,490 
Other Debt558,226 558,250 558,274 560,136 
Operating Lease Liabilities92,381 92,267 88,794 93,364 
Retirement Benefits Payable23,528 23,640 23,760 23,142 
Accrued Interest Payable26,732 23,261 34,799 37,278 
Other Liabilities416,864 424,486 494,676 465,007 
Total Liabilities21,966,645 22,180,121 21,933,340 21,687,919 
Shareholders’ Equity
Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding)180,000 180,000 180,000 180,000 
Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding)165,000 165,000 165,000 165,000 
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: June 30, 2025 - 58,775,870 / 39,765,375); March 31, 2025 - 58,765,864 / 39,734,304; December 31, 2024 - 58,765,907 / 39,762,255; and June 30, 2024 - 58,765,907 / 39,729,941)
587 586 585 585 
Capital Surplus655,479 651,374 647,403 639,841 
Accumulated Other Comprehensive Loss(299,194)(318,397)(343,389)(374,361)
Retained Earnings2,158,450 2,144,326 2,133,838 2,119,140 
Treasury Stock, at Cost (Shares: June 30, 2025 - 19,010,495; March 31, 2025 - 19,031,560; December 31, 2024 - 19,003,609; and June 30, 2024 - 19,035,966)
(1,117,215)(1,117,954)(1,115,663)(1,117,356)
Total Shareholders’ Equity1,743,107 1,704,935 1,667,774 1,612,849 
Total Liabilities and Shareholders’ Equity$23,709,752 $23,885,056 $23,601,114 $23,300,768 



Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of Shareholders' EquityTable 6
(dollars in thousands, except per share amounts)Preferred Shares Series A OutstandingPreferred Series A StockPreferred Shares Series B OutstandingPreferred Series B StockCommon Shares OutstandingCommon StockCapital SurplusAccum. Other Comprehensive Income (Loss)Retained EarningsTreasury StockTotal
Balance as of December 31, 2024180,000$180,000 165,000$165,000 39,762,255$585 $647,403 $(343,389)$2,133,838 $(1,115,663)$1,667,774 
Net Income– – – – – 91,622 – 91,622 
Other Comprehensive Income– – – – 44,195 – – 44,195 
Share-Based Compensation– – – 7,517 – – – 7,517 
Common Stock Issued under Purchase and Equity Compensation Plans– – 55,906559 – – 2,048 2,609 
Common Stock Repurchased– – (52,786)– – – – (3,600)(3,600)
Cash Dividends Declared Common Stock ($1.40 per share)– – – – – (56,472)– (56,472)
Cash Dividends Declared Preferred Stock– – – – – (10,538)– (10,538)
Balance as of June 30, 2025180,000$180,000 165,000$165,000 39,765,375$587 $655,479 $(299,194)$2,158,450 $(1,117,215)$1,743,107 
Balance as of December 31, 2023180,000$180,000 $– 39,753,138$583 $636,422 $(396,688)$2,107,569 $(1,113,644)$1,414,242 
Net Income– – – – – 70,474 – 70,474 
Other Comprehensive Income– – – – 22,327 – – 22,327 
Share-Based Compensation– – – 7,505 – – – 7,505 
Preferred Stock Issued, Net– 165,000165,000 – (4,386)– – – 160,614 
Common Stock Issued under Purchase and Equity Compensation Plans– – 57,972300 – 1,152 1,283 2,737 
Common Stock Repurchased– – (81,169)– – – – (4,995)(4,995)
Cash Dividends Declared Common Stock ($1.40 per share)– – – – – (56,117)– (56,117)
Cash Dividends Declared Preferred Stock– – – – – (3,938)– (3,938)
Balance as of June 30, 2024180,000$180,000 165,000$165,000 39,729,941$585 $639,841 $(374,361)$2,119,140 $(1,117,356)$1,612,849 



Bank of Hawai‘i Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis 1
Table 7a
Three Months Ended June 30, 2025Three Months Ended March 31, 2025Three Months Ended June 30, 2024
(dollars in millions)Average Balance
Income/Expense 2
Yield/RateAverage Balance
Income/Expense 2
Yield/RateAverage Balance
Income/Expense 2
Yield/Rate
Earning Assets
Cash and Cash Equivalents$353.7 $3.8 4.27 %$500.0 $5.5 4.37 %$460.1 $6.1 5.28 %
Investment Securities
Available-for-Sale
Taxable2,987.2 26.7 3.58 2,790.3 24.1 3.47 2,308.3 21.5 3.73 
Non-Taxable27.4 0.4 5.85 21.3 0.3 5.68 1.6 0.0 2.01 
Held-to-Maturity
Taxable4,462.1 19.7 1.77 4,548.6 20.2 1.77 4,837.2 21.4 1.77 
Non-Taxable34.0 0.2 2.10 34.1 0.2 2.09 34.6 0.2 2.10 
Total Investment Securities7,510.7 47.0 2.50 7,394.3 44.8 2.43 7,181.7 43.1 2.40 
Loans Held for Sale2.2 0.0 5.66 2.3 0.0 6.06 1.4 0.0 6.30 
Loans and Leases 3
Commercial Mortgage4,025.2 53.7 5.35 4,015.2 52.5 5.30 3,723.6 51.6 5.57 
Commercial and Industrial1,668.1 21.1 5.07 1,703.7 21.3 5.06 1,692.7 22.4 5.32 
Construction366.2 6.7 7.30 338.5 6.0 7.22 321.3 6.3 7.85 
Commercial Lease Financing93.4 1.0 4.07 91.1 0.9 3.83 59.3 0.3 2.28 
Residential Mortgage4,626.5 45.6 3.95 4,616.7 44.8 3.88 4,595.2 45.6 3.97 
Home Equity2,141.5 23.3 4.37 2,154.4 22.5 4.23 2,231.7 21.8 3.92 
Automobile730.1 9.4 5.19 752.6 9.3 5.02 813.5 9.1 4.52 
Other398.0 7.5 7.53 390.0 7.1 7.41 394.5 6.8 6.95 
Total Loans and Leases14,049.0 168.3 4.80 14,062.2 164.4 4.72 13,831.8 163.9 4.76 
Other65.2 1.1 6.72 65.1 1.1 6.67 62.5 1.2 7.18 
Total Earning Assets21,980.8 220.2 4.01 22,023.9 215.8 3.95 21,537.5 214.3 3.99 
Non-Earning Assets1,616.2 1,614.2 1,607.6 
Total Assets$23,597.0 $23,638.1 $23,145.1 
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand$3,705.5 $7.6 0.82 %$3,773.4 $7.1 0.76 %$3,788.5 $8.8 0.94 %
Savings8,578.6 48.1 2.25 8,544.5 47.1 2.23 8,259.2 52.0 2.53 
Time3,050.0 26.8 3.52 3,037.3 27.5 3.67 2,935.9 30.7 4.20 
Total Interest-Bearing Deposits15,334.1 82.5 2.16 15,355.2 81.7 2.16 14,983.6 91.5 2.46 
Securities Sold Under Agreements to Repurchase50.0 0.5 3.88 76.7 0.7 3.88 121.9 1.2 3.83 
Other Debt558.3 5.9 4.23 578.2 6.1 4.24 563.4 6.0 4.26 
Total Interest-Bearing Liabilities15,942.4 88.9 2.24 16,010.1 88.5 2.24 15,668.9 98.7 2.53 
Net Interest Income$131.3 $127.3 $115.6 
Interest Rate Spread1.77 %1.71 %1.46 %
Net Interest Margin2.39 %2.32 %2.15 %
Noninterest-Bearing Demand Deposits5,365.6 5,314.3 5,374.8 
Other Liabilities584.6 638.1 662.9 
Shareholders' Equity1,704.4 1,675.6 1,438.5 
Total Liabilities and Shareholders' Equity$23,597.0 $23,638.1 $23,145.1 
1Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.
2Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1.6 million, $1.5 million, and $774 thousand for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively.
3Non-performing loans and leases are included in the respective average loan and lease balances.




Bank of Hawai‘i Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis 1
Table 7b
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
(dollars in millions)Average Balance
Income/Expense 2
Yield/RateAverage Balance
Income/Expense 2
Yield/Rate
Earning Assets
Cash and Cash Equivalents$426.4 $9.3 4.33 %$460.4 $12.3 5.28 %
Investment Securities
Available-for-Sale
Taxable2,889.3 50.8 3.53 2,344.3 43.2 3.69 
Non-Taxable24.3 0.7 5.77 1.7 0.0 2.00 
Held-to-Maturity
Taxable4,505.1 39.8 1.77 4,882.0 43.4 1.78 
Non-Taxable34.1 0.4 2.10 34.7 0.4 2.10 
Total Investment Securities7,452.8 91.7 2.47 7,262.7 87.0 2.40 
Loans Held for Sale2.2 0.1 5.87 1.8 0.1 6.22 
Loans and Leases 3
Commercial Mortgage4,020.3 106.2 5.33 3,720.1 102.1 5.52 
Commercial and Industrial1,685.8 42.3 5.06 1,678.0 44.5 5.33 
Construction352.4 12.7 7.26 314.6 11.8 7.57 
Commercial Lease Financing92.3 1.8 3.95 58.8 0.6 2.08 
Residential Mortgage4,621.6 90.5 3.91 4,622.6 90.7 3.92 
Home Equity2,147.9 45.8 4.30 2,240.9 42.9 3.85 
Automobile741.3 18.8 5.10 822.2 18.0 4.41 
Other394.0 14.6 7.47 393.1 13.3 6.80 
Total Loans and Leases14,055.6 332.7 4.76 13,850.3 323.9 4.70 
Other65.2 2.1 6.70 62.4 2.0 6.70 
Total Earning Assets22,002.2 435.9 3.98 21,637.6 425.3 3.94 
Non-Earning Assets1,615.2 1,575.7 
Total Assets$23,617.4 $23,213.3 
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand$3,739.2 $14.7 0.79 %$3,776.3 $16.5 0.88 %
Savings8,561.7 95.2 2.24 8,195.3 101.4 2.49 
Time3,043.7 54.3 3.60 3,008.5 62.7 4.19 
Total Interest-Bearing Deposits15,344.6 164.2 2.16 14,980.1 180.6 2.42 
Securities Sold Under Agreements to Repurchase63.3 1.2 3.88 136.2 2.6 3.83 
Other Debt568.2 11.9 4.23 561.8 11.9 4.25 
Total Interest-Bearing Liabilities15,976.1 177.3 2.24 15,678.1 195.1 2.50 
Net Interest Income$258.6 $230.2 
Interest Rate Spread1.74 %1.44 %
Net Interest Margin2.36 %2.13 %
Noninterest-Bearing Demand Deposits5,340.1 5,470.9 
Other Liabilities611.1 637.0 
Shareholders' Equity1,690.1 1,427.3 
Total Liabilities and Shareholders' Equity$23,617.4 $23,213.3 
1.Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.
2.Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $3.1 million and $1.5 million for the six months ended June 30, 2025 and June 30, 2024, respectively.
3.Non-performing loans and leases are included in the respective average loan and lease balances.



Bank of Hawai‘i Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent BasisTable 8a
Three Months Ended June 30, 2025
Compared to March 31, 2025
(dollars in millions)
Volume 1
Rate 1
Total
Change in Interest Income:
Cash and Cash Equivalents$(1.6)$(0.1)$(1.7)
Investment Securities
Available-for-Sale
Taxable1.8 0.8 2.6 
Non-Taxable0.1 0.0 0.1 
Held-to-Maturity
Taxable(0.4)(0.1)(0.5)
Non-Taxable0.0 0.0 0.0 
Total Investment Securities1.5 0.7 2.2 
Loans Held for Sale0.0 0.0 0.0 
Loans and Leases
Commercial Mortgage0.2 1.0 1.2 
Commercial and Industrial(0.2)0.0 (0.2)
Construction0.6 0.1 0.7 
Commercial Lease Financing0.1 0.0 0.1 
Residential Mortgage0.1 0.7 0.8 
Home Equity(0.1)0.9 0.8 
Automobile(0.2)0.3 0.1 
Other0.2 0.2 0.4 
Total Loans and Leases0.7 3.2 3.9 
Other0.0 0.0 0.0 
Total Change in Interest Income0.6 3.8 4.4 
Change in Interest Expense:
Interest-Bearing Deposits
Demand(0.1)0.6 0.5 
Savings0.4 0.6 1.0 
Time0.2 (0.9)(0.7)
Total Interest-Bearing Deposits0.5 0.3 0.8 
Securities Sold Under Agreements to Repurchase(0.3)0.1 (0.2)
Other Debt(0.2)0.0 (0.2)
Total Change in Interest Expense0.0 0.4 0.4 
Change in Net Interest Income$0.6 $3.4 $4.0 
1The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.



Bank of Hawai‘i Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent BasisTable 8b
Three Months Ended June 30, 2025
Compared to June 30, 2024
(dollars in millions)
Volume 1
Rate 1
Total
Change in Interest Income:
Cash and Cash Equivalents$(1.3)$(1.0)$(2.3)
Investment Securities
Available-for-Sale
Taxable6.1 (0.9)5.2 
Non-Taxable0.4 0.0 0.4 
Held-to-Maturity
Taxable(1.7)(0.1)(1.8)
Non-Taxable0.0 – 0.0 
Total Investment Securities4.8 (1.0)3.8 
Loans Held for Sale0.0 0.0 0.0 
Loans and Leases
Commercial Mortgage4.2 (2.1)2.1 
Commercial and Industrial(0.3)(1.0)(1.3)
Construction0.9 (0.5)0.4 
Commercial Lease Financing0.5 0.2 0.7 
Residential Mortgage0.3 (0.3)0.0 
Home Equity(0.9)2.4 1.5 
Automobile(1.0)1.3 0.3 
Other0.1 0.6 0.7 
Total Loans and Leases3.8 0.6 4.4 
Other0.2 (0.3)(0.1)
Total Change in Interest Income7.5 (1.7)5.8 
Change in Interest Expense:
Interest-Bearing Deposits
Demand(0.2)(1.0)(1.2)
Savings2.0 (5.9)(3.9)
Time1.2 (5.1)(3.9)
Total Interest-Bearing Deposits3.0 (12.0)(9.0)
Securities Sold Under Agreements to Repurchase(0.7)0.0 (0.7)
Other Debt0.0 (0.1)(0.1)
Total Change in Interest Expense2.3 (12.1)(9.8)
Change in Net Interest Income$5.2 $10.4 $15.6 
1The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.




Bank of Hawai‘i Corporation and Subsidiaries
Analysis of Change in Net Interest Income - Taxable-Equivalent BasisTable 8c
Six Months Ended June 30, 2025
Compared to June 30, 2024
(dollars in millions)
Volume 1
Rate 1
Total
Change in Interest Income:
Cash and Cash Equivalents$(0.9)$(2.1)$(3.0)
Investment Securities
Available-for-Sale
Taxable9.6 (2.0)7.6 
Non-Taxable0.6 0.1 0.7 
Held-to-Maturity
Taxable(3.3)(0.3)(3.6)
Non-Taxable0.0 – 0.0 
Total Investment Securities6.9 (2.2)4.7 
Loans Held for Sale0.0 0.0 0.0 
Loans and Leases
Commercial Mortgage7.8 (3.7)4.1 
Commercial and Industrial0.2 (2.4)(2.2)
Construction1.4 (0.5)0.9 
Commercial Lease Financing0.9 0.3 1.2 
Residential Mortgage0.0 (0.2)(0.2)
Home Equity(1.9)4.8 2.9 
Automobile(1.8)2.6 0.8 
Other0.0 1.3 1.3 
Total Loans and Leases6.6 2.2 8.8 
Other0.1 0.0 0.1 
Total Change in Interest Income12.7 (2.1)10.6 
Change in Interest Expense:
Interest-Bearing Deposits
Demand(0.2)(1.6)(1.8)
Savings4.3 (10.5)(6.2)
Time0.7 (9.1)(8.4)
Total Interest-Bearing Deposits4.8 (21.2)(16.4)
Securities Sold Under Agreements to Repurchase(1.4)0.0 (1.4)
Other Debt0.1 (0.1)0.0 
Total Change in Interest Expense3.5 (21.3)(17.8)
Change in Net Interest Income$9.2 $19.2 $28.4 
1.The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.



Bank of Hawai‘i Corporation and Subsidiaries
Salaries and BenefitsTable 9
Three Months EndedSix Months Ended
(dollars in thousands)June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024
Salaries$39,644 $38,242 $38,662 $77,886 $76,693 
Incentive Compensation5,067 5,573 3,109 10,640 6,199 
Retirement and Other Benefits3,894 5,061 3,961 8,955 8,260 
Share-Based Compensation3,668 3,501 3,296 7,169 7,095 
Medical, Dental, and Life Insurance3,610 4,537 3,211 8,147 6,423 
Payroll Taxes2,998 4,766 3,070 7,764 7,800 
Separation Expense1,374 81 785 1,455 1,267 
Commission Expense1,053 1,123 939 2,176 1,511 
Total Salaries and Benefits$61,308 $62,884 $57,033 $124,192 $115,248 



Bank of Hawai‘i Corporation and Subsidiaries
Loan and Lease Portfolio BalancesTable 10
(dollars in thousands)June 30,
2025
March 31,
2025
December 31,
2024
September 30,
2024
June 30,
2024
Commercial
Commercial Mortgage$4,038,956 $4,038,287 $4,020,622 $3,868,566 $3,741,140 
Commercial and Industrial1,597,560 1,703,290 1,705,133 1,681,693 1,699,438 
Construction374,768 363,716 308,898 319,150 315,571 
Lease Financing92,842 92,456 90,756 60,665 59,388 
Total Commercial6,104,126 6,197,749 6,125,409 5,930,074 5,815,537 
Consumer
Residential Mortgage4,637,014 4,630,876 4,628,283 4,622,677 4,595,586 
Home Equity2,139,025 2,144,955 2,165,514 2,195,844 2,221,073 
Automobile715,688 740,390 764,146 786,910 806,240 
Other406,325 401,353 392,628 383,078 392,830 
Total Consumer7,898,052 7,917,574 7,950,571 7,988,509 8,015,729 
Total Loans and Leases$14,002,178 $14,115,323 $14,075,980 $13,918,583 $13,831,266 


Deposits
(dollars in thousands)June 30,
2025
March 31,
2025
December 31,
2024
September 30,
2024
June 30,
2024
Consumer$10,429,271 $10,522,627 $10,397,777 $10,340,466 $10,382,432 
Commercial8,243,898 8,411,838 8,299,590 8,356,239 7,995,618 
Public and Other2,125,745 2,073,752 1,935,670 2,281,617 2,030,452 
Total Deposits$20,798,914 $21,008,217 $20,633,037 $20,978,322 $20,408,502 


Average Deposits
Three Months Ended
(dollars in thousands)June 30,
2025
March 31,
2025
December 31,
2024
September 30,
2024
June 30,
2024
Consumer$10,435,867 $10,408,747 $10,327,928 $10,345,772 $10,379,724 
Commercial8,316,893 8,318,182 8,564,213 8,207,310 8,188,685 
Public and Other1,946,933 1,942,610 1,864,541 1,931,309 1,789,984 
Total Deposits$20,699,693 $20,669,539 $20,756,682 $20,484,391 $20,358,393 



Bank of Hawai‘i Corporation and Subsidiaries
Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or MoreTable 11
(dollars in thousands)June 30,
2025
March 31,
2025
December 31,
2024
September 30,
2024
June 30,
2024
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial
Commercial Mortgage$2,566 $2,195 $2,450 $2,680 $2,601 
Commercial and Industrial3,744 3,451 4,627 6,218 3,681 
Total Commercial6,310 5,646 7,077 8,898 6,282 
Consumer
Residential Mortgage5,842 4,686 5,052 4,269 2,998 
Home Equity5,387 5,759 4,514 3,947 3,227 
Total Consumer11,229 10,445 9,566 8,216 6,225 
Total Non-Accrual Loans and Leases17,539 16,091 16,643 17,114 12,507 
Foreclosed Real Estate342 1,360 2,657 2,667 2,672 
Total Non-Performing Assets$17,881 $17,451 $19,300 $19,781 $15,179 
Accruing Loans and Leases Past Due 90 Days or More
Consumer
Residential Mortgage$9,070 $3,895 $3,984 $4,421 $4,524 
Home Equity1,867 2,228 2,845 1,980 2,025 
Automobile680 486 776 580 568 
Other630 943 677 554 733 
Total Consumer12,247 7,552 8,282 7,535 7,850 
Total Accruing Loans and Leases Past Due 90 Days or More$12,247 $7,552 $8,282 $7,535 $7,850 
Total Loans and Leases$14,002,178 $14,115,323 $14,075,980 $13,918,583 $13,831,266 
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases0.13 %0.11 %0.12 %0.12 %0.09 %
Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate0.13 %0.12 %0.14 %0.14 %0.11 %
Ratio of Non-Performing Assets to Total Assets0.08 %0.07 %0.08 %0.08 %0.07 %
Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate0.10 %0.09 %0.12 %0.15 %0.11 %
Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate0.15 %0.15 %0.15 %0.14 %0.11 %
Ratio of Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More to Total Loans and Leases and Foreclosed Real Estate0.22 %0.18 %0.20 %0.20 %0.17 %
Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter$17,451 $19,300 $19,781 $15,179 $11,838 
Additions 1
3,522 2,209 2,198 5,557 5,257 
Reductions
Payments(1,424)(1,212)(708)(734)(844)
Return to Accrual Status(574)(244)(476)(81)(1,018)
Sales of Foreclosed Real Estate(1,040)(1,492)
Charge-offs / Write-downs 1
(54)(1,110)(1,495)(140)(54)
Total Reductions(3,092)(4,058)(2,679)(955)(1,916)
Balance at End of Quarter$17,881 $17,451 $19,300 $19,781 $15,179 
1Excludes loans that are fully charged-off and placed on non-accrual status during the same period.



Bank of Hawai‘i Corporation and Subsidiaries
Reserve for Credit LossesTable 12
Three Months EndedSix Months Ended
(dollars in thousands)June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024
Balance at Beginning of Period$149,496 $150,649 $152,148 $150,649 $152,429 
Loans and Leases Charged-Off
Commercial
Commercial and Industrial(206)(1,399)(875)(1,605)(1,235)
Consumer
Residential Mortgage— — (48)— (48)
Home Equity(155)(75)(202)(230)(237)
Automobile(1,253)(1,751)(1,095)(3,004)(2,143)
Other(2,397)(2,484)(2,610)(4,881)(4,922)
Total Loans and Leases Charged-Off(4,011)(5,709)(4,830)(9,720)(8,585)
Recoveries on Loans and Leases Previously Charged-Off
Commercial
Commercial and Industrial78 77 263 155 379 
Consumer
Residential Mortgage11 11 63 22 105 
Home Equity180 128 113 308 297 
Automobile557 633 481 1,190 1,007 
Other567 457 517 1,024 1,123 
Total Recoveries on Loans and Leases Previously Charged-Off1,393 1,306 1,437 2,699 2,911 
Net Charged-Off - Loans and Leases(2,618)(4,403)(3,393)(7,021)(5,674)
Provision for Credit Losses:
Loans and Leases3,454 3,582 3,206 7,036 6,748 
Unfunded Commitments(204)(332)(806)(536)(2,348)
Total Provision for Credit Losses3,250 3,250 2,400 6,500 4,400 
Balance at End of Period$150,128 $149,496 $151,155 $150,128 $151,155 
Components
Allowance for Credit Losses - Loans and Leases$148,543 $147,707 $147,477 $148,543 $147,477 
Reserve for Unfunded Commitments1,585 1,789 3,678 1,585 3,678 
Total Reserve for Credit Losses$150,128 $149,496 $151,155 $150,128 $151,155 
Average Loans and Leases Outstanding$14,049,025 $14,062,173 $13,831,797 $14,055,563 $13,850,299 
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized)0.07 %0.13 %0.10 %0.10 %0.08 %
Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1
1.06 %1.05 %1.07 %1.06 %1.07 %
1The numerator comprises the Allowance for Credit Losses - Loans and Leases.



Bank of Hawai‘i Corporation and Subsidiaries
Business Segments Selected Financial InformationTable 13
(dollars in thousands)Consumer BankingCommercial BankingTreasury and OtherConsolidated Total
Three Months Ended June 30, 2025
Net Interest Income (Expense)$95,339 $53,949 $(19,605)$129,683 
Provision for (Recapture of) Credit Losses2,619 (1)632 3,250 
Net Interest Income (Expense) After Provision for Credit Losses92,720 53,950 (20,237)126,433 
Noninterest Income33,981 6,164 4,650 44,795 
Salaries and Benefits21,032 4,937 35,339 61,308 
Net Occupancy7,142 402 2,955 10,499 
Other Noninterest Expense58,629 13,535 (33,188)38,976 
Noninterest Expense86,803 18,874 5,106 110,783 
Income (Loss) Before Provision for Income Taxes39,898 41,240 (20,693)60,445 
Provision (Benefit) for Income Taxes10,161 10,546 (7,899)12,808 
Net Income (Loss)$29,737 $30,694 $(12,794)$47,637 
Total Assets as of June 30, 2025$8,228,766 $6,139,748 $9,341,238 $23,709,752 
Three Months Ended June 30, 2024 ¹
Net Interest Income (Expense)$98,205 $50,885 $(34,244)$114,846 
Provision for (Recapture of) Credit Losses2,873 473 (946)2,400 
Net Interest Income (Expense) After Provision for Credit Losses95,332 50,412 (33,298)112,446 
Noninterest Income33,653 6,698 1,736 42,087 
Salaries and Benefits20,157 5,085 31,791 57,033 
Net Occupancy6,748 421 3,390 10,559 
Other Noninterest Expense60,106 12,504 (30,976)41,634 
Noninterest Expense87,011 18,010 4,205 109,226 
Income (Loss) Before Provision for Income Taxes41,974 39,100 (35,767)45,307 
Provision (Benefit) for Income Taxes10,685 9,887 (9,348)11,224 
Net Income (Loss)$31,289 $29,213 $(26,419)$34,083 
Total Assets as of June 30, 2024$8,357,830 $5,835,399 $9,107,539 $23,300,768 
Six Months Ended June 30, 2025
Net Interest Income (Expense)$190,963 $109,523 $(44,996)$255,490 
Provision for (Recapture of) Credit Losses5,914 1,107 (521)6,500 
Net Interest Income (Expense) After Provision for Credit Losses185,049 108,416 (44,475)248,990 
Noninterest Income67,479 13,898 7,476 88,853 
Salaries and Benefits42,137 10,297 71,758 124,192 
Net Occupancy14,209 802 6,047 21,058 
Other Noninterest Expense116,831 27,417 (68,256)75,992 
Noninterest Expense173,177 38,516 9,549 221,242 
Income (Loss) Before Provision for Income Taxes79,351 83,798 (46,548)116,601 
Provision (Benefit) for Income Taxes20,162 21,415 (16,598)24,979 
Net Income (Loss)$59,189 $62,383 $(29,950)$91,622 
Total Assets as of June 30, 2025$8,228,766 $6,139,748 $9,341,238 $23,709,752 
Six Months Ended June 30, 2024 ¹
Net Interest Income (Expense)$195,199 $102,378 $(68,793)$228,784 
Provision for (Recapture of) Credit Losses5,160 467 (1,227)4,400 
Net Interest Income (Expense) After Provision for Credit Losses190,039 101,911 (67,566)224,384 
Noninterest Income65,635 13,492 5,245 84,372 
Salaries and Benefits41,074 10,601 63,573 115,248 
Net Occupancy13,612 868 6,535 21,015 
Other Noninterest Expense115,030 25,184 (61,392)78,822 
Noninterest Expense169,716 36,653 8,716 215,085 
Income (Loss) Before Provision for Income Taxes85,958 78,750 (71,037)93,671 
Provision (Benefit) for Income Taxes21,865 19,895 (18,563)23,197 
Net Income (Loss)$64,093 $58,855 $(52,474)$70,474 
Total Assets as of June 30, 2024$8,357,830 $5,835,399 $9,107,539 $23,300,768 
1Certain prior period information has been reclassified to conform to current presentation.



Bank of Hawai‘i Corporation and Subsidiaries
Selected Quarterly Financial DataTable 14
Three Months Ended
(dollars in thousands, except per share amounts)June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Quarterly Operating Results
Interest Income
Interest and Fees on Loans and Leases$166,779 $163,082 $164,785 $166,286 $163,208 
Income on Investment Securities
Available-for-Sale27,007 24,368 23,223 23,257 21,468 
Held-to-Maturity19,835 20,291 20,677 21,107 21,595 
Cash and Cash Equivalents3,817 5,460 9,425 8,980 6,139 
Other1,097 1,085 1,107 1,018 1,120 
Total Interest Income218,535 214,286 219,217 220,648 213,530 
Interest Expense
Deposits82,476 81,692 92,099 96,067 91,542 
Securities Sold Under Agreements to Repurchase491 744 992 993 1,180 
Other Debt5,885 6,043 5,948 5,970 5,962 
Total Interest Expense88,852 88,479 99,039 103,030 98,684 
Net Interest Income129,683 125,807 120,178 117,618 114,846 
Provision for Credit Losses3,250 3,250 3,750 3,000 2,400 
Net Interest Income After Provision for Credit Losses126,433 122,557 116,428 114,618 112,446 
Noninterest Income
Fees, Exchange, and Other Service Charges14,383 14,437 14,399 14,945 13,769 
Trust and Asset Management12,097 11,741 12,157 11,916 12,223 
Service Charges on Deposit Accounts8,119 8,259 8,678 8,075 7,730 
Bank-Owned Life Insurance3,714 3,611 3,283 3,533 3,396 
Annuity and Insurance1,437 1,555 1,347 1,460 1,583 
Mortgage Banking849 988 942 1,188 1,028 
Investment Securities Losses, Net(1,126)(1,607)(3,306)(1,103)(1,601)
Other5,322 5,074 5,547 5,096 3,959 
Total Noninterest Income44,795 44,058 43,047 45,110 42,087 
Noninterest Expense
Salaries and Benefits61,308 62,884 58,690 58,626 57,033 
Net Occupancy10,499 10,559 10,263 10,806 10,559 
Net Equipment9,977 10,192 10,308 10,120 10,355 
Data Processing5,456 5,267 5,313 4,712 4,745 
Professional Fees4,263 4,264 4,988 4,725 4,929 
FDIC Insurance3,640 1,642 3,711 3,355 7,170 
Other15,640 15,651 14,658 14,748 14,435 
Total Noninterest Expense110,783 110,459 107,931 107,092 109,226 
Income Before Provision for Income Taxes60,445 56,156 51,544 52,636 45,307 
Provision for Income Taxes12,808 12,171 12,382 12,278 11,224 
Net Income$47,637 $43,985 $39,162 $40,358 $34,083 
Preferred Stock Dividends5,269 5,269 5,269 3,436 1,969 
Net Income Available to Common Shareholders$42,368 $38,716 $33,893 $36,922 $32,114 
Basic Earnings Per Common Share$1.07 $0.98 $0.86 $0.94 $0.81 
Diluted Earnings Per Common Share$1.06 $0.97 $0.85 $0.93 $0.81 
Balance Sheet Totals
Loans and Leases$14,002,178 $14,115,323 $14,075,980 $13,918,583 $13,831,266 
Total Assets23,709,752 23,885,056 23,601,114 23,799,174 23,300,768 
Total Deposits20,798,914 21,008,217 20,633,037 20,978,322 20,408,502 
Total Shareholders' Equity1,743,107 1,704,935 1,667,774 1,665,474 1,612,849 
Performance Ratios
Return on Average Assets0.81 %0.75 %0.66 %0.69 %0.59 %
Return on Average Shareholders' Equity11.21 10.65 9.42 9.90 9.53 
Return on Average Common Equity12.50 11.80 10.30 11.50 10.41 
Efficiency Ratio 1
63.49 65.03 66.12 65.81 69.60 
Net Interest Margin 2
2.39 2.32 2.19 2.18 2.15 
1Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).
2Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.



Bank of Hawai‘i Corporation and Subsidiaries
Hawaii Economic TrendsTable 15
Five Months EndedYear Ended
(dollars in millions, jobs in thousands, 1-year percentage change)May 31, 2025December 31, 2024December 31, 2023
Hawaii Economic Trends
State General Fund Revenues 1
$4,053.8(3.4)%$10,124.96.5 %$9,504.10.7 %
General Excise and Use Tax Revenue 1
2,037.76.5 4,495.00.5 4,474.14.9 
Jobs 2
669.3661.6657.7
June 30,December 31,
202520242023
Unemployment, seasonally adjusted 2
 Statewide2.8 %3.0 %3.0 %
 Honolulu County2.7 2.9 2.5 
 Hawaii County3.3 3.4 2.9 
 Maui County3.0 3.7 5.8 
 Kauai County2.5 3.0 2.5 
June 30,December 31,
(1-year percentage change, except months of inventory)2025202420232022
Housing Trends (Single Family Oahu) 3
Median Home Price6.0 %4.8 %(5.0)%11.6 %
Home Sales Volume (units)(2.1)%9.1 %(26.3)%(23.2)%
Months of Inventory3.7 2.9 2.8 2.1 
(in thousands, except percentage change)Monthly Visitor Arrivals,
Not Seasonally Adjusted
Percentage Change
from Previous Year
Tourism 4
May 31, 2025766.4 1.1 %
April 30, 2025810.3 9.4 
March 31, 2025890.0 2.8 
February 28, 2025739.7 (1.7)
January 31, 2025773.1 3.7 
December 31, 2024892.0 5.3 
November 30, 2024762.7 5.7 
October 31, 2024739.0 5.5 
September 30, 2024688.8 6.3 
August 31, 2024819.2 6.9 
July 31, 2024925.3 (0.5)
June 30, 2024872.6 (1.5)
May 31, 2024757.8 (4.1)
April 30, 2024740.7 (8.1)
March 31, 2024865.8 (3.0)
February 29, 2024752.7 2.6 
January 31, 2024745.6 (3.8)
December 31, 2023847.3 (1.3)
November 30, 2023721.3 0.3 
October 31, 2023700.4 (3.7)
September 30, 2023648.1 (6.4)
August 31, 2023766.6 (7.6)
July 31, 2023930.2 1.3 
June 30, 2023886.0 5.3 
May 31, 2023790.5 2.1 
1Source: Hawaii Department of Business, Economic Development & Tourism
2Source: U.S. Bureau of Labor Statistics
3Source: Honolulu Board of Realtors
4Source: Hawaii Tourism Authority

Bank of Hawai‘i Corporation second quarter 2025 financial report July 28, 2025 Exhibit 99.2


 
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 disclosure 2 forward-looking statements


 
diversified, lower risk loan assets second quarter 2025 highlights 3 broad & deep market penetration stable b lance sheet performance earnings highlights strong credit credit remained pristine • stable average deposits and average total loans and leases • stable average noninterest-bearing demand deposit and low yield interest-bearing deposit balances • tier 1 capital ratio of 14.17% and total capital ratio of 15.23% • $1.06 diluted earnings per common share • $47.6 million net income • net interest margin expanded for the fifth consecutive quarter to 2.39% from 2.32% • return on average common equity increased to 12.50% from 11.80% • 1.60% average cost of total deposits • 0.07% net charge-off rate • 0.13% non-performing assets level • 80% of loan portfolio real estate-secured with combined wtd avg LTV of 51% • nominal direct tariff exposure


 
unique business model 4 superior risk adjusted returns over time • attractive core market • dominant market position • fortress risk profile


 
5 unmatched brand awareness – total unaided 58% 67% 70% 67% 66% 69% 71% 76% 79% 81% 82% 78% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD BOH vs three closest competitors BOH competitor #1 competitor #2 competitor #3 Q. When you think of financial services companies in Hawai‘i, what company comes to mind? Any others? source: blind study commissioned by Bank of Hawai‘i with a leading third-party professional research company based in Hawai‘i. Hybrid (telephone and online) target sample of 400 adult Hawai‘i residents per quarter, primary or shared financial decision-makers in household, and have a checking or savings account with any financial institution. 2025 YTD include data collected in 1Q25 and 2Q25.


 
leader in a unique deposit market 6source: FDIC Annual Summary of Deposits as of June 30, 2019, June 30, 2023 and June 30, 2024 BOH 33.5% FHB 33.5%ASB 14.2% CPF 11.8% TBNK 2.9% other 4.1% 2023 BOH 32.2% FHB 34.3%ASB 14.1% CPF 11.1% TBNK 3.8% other 4.5% 2019 BOH 34.1% FHB 32.5%ASB 14.4% CPF 11.7% TBNK 2.9% other 4.4% 2024 the leader in a unique deposit market with five local competitors holding 96% of the bank deposit market 0.6% 1.9% (0.9)% (1.8)% 0.2% 0.3% (0.1)% 0.6% (0.1)% (0.9)% ∆ 1-yr ∆ 5-yr ∆ in market share BOH FHB ASB CPF TBNK


 
7 ∆ NIBD and low yield interest- bearing deposits $ in billions $(0.40) $(0.30) $(0.20) $(0.10) $- $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 ∆ 3-month rolling average balance of NIBD and low yield interest-bearing deposits note: low yield interest-bearing deposits include accounts yielding interest of 10 bps or less


 
cost of funds interest-bearing deposits 8 0.07% 0.11% 0.30% 0.69% 1.09% 1.54% 1.95% 2.30% 2.39% 2.46% 2.52% 2.37% 2.16% 2.16% 0.13% 0.20% 0.48% 0.97% 1.59% 2.11% 2.44% 2.73% 2.91% 2.99% 3.05% 2.84% 2.66% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX)


 
cost of funds total deposits 9 0.05% 0.07% 0.20% 0.46% 0.75% 1.08% 1.40% 1.67% 1.74% 1.81% 1.87% 1.77% 1.60% 1.60% 0.08% 0.12% 0.31% 0.66% 1.09% 1.52% 1.85% 2.10% 2.19% 2.26% 2.34% 2.19% 2.01% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX)


 
accretive and predictable balance sheet remix 10 note: loan cashflow refers to cashflow from fixed and adjustable loans; 6.3% roll on rate assumes that the cashflows from maturities/prepayments from loans were reinvested into the same products and the cashflows from maturities/prepayments from investment portfolio were reinvested into securities at an average rate of 5.4%, equivalent to average yield at the time of purchase of the securities purchased in 2Q25 $572 million 2Q25 loan & investment cashflow 6.3% roll on rate accretive & predictable NII expansion 4.0% roll off rate


 
11 continued accretive NIM reversion 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% 3.20% $10.0 $12.5 $15.0 $17.5 $20.0 $22.5 average deposit balance NIM $ in billions


 
2.2% 20.2% 3.0% 2.8% 3.1% 3.3% 4.2% 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment unemployment experience & forecast source for Hawai‘i unemployment: University of Hawaii Economic Research Organization (UHERO), quarterly data, seasonally adjusted source for national unemployment: Bureau of Labor Statistics, quarterly data, seasonally adjusted 12


 
13 visitor arrivals monthly by market, indexed to January 2017 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) - 20 40 60 80 100 120 140 160 180 200 total US visitor Japan other


 
revenue per available room revenue per available room (RevPAR) 14source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) $10 $40 $70 $100 $130 $160 $190 $220 $250 $280 $310 $340


 
condominiumssingle family homes Δ YTD-24YTD-24YTD-25Δ YTD-24YTD-24YTD-25 -0.5% $510$507 6.0% $1,085$1,150 median sales price (000s) -6.0% 2,2342,101 -2.1% 1,3621,334closed sales 12 days 2941 2 days 2022 median days on market stable real estate prices Oahu market indicators – YTD 2025 as of June 2025 15source: Honolulu Board of Realtors, compiled from MLS data


 
credit performance


 
lending philosophy 17 Hawai'i 93% U.S. mainland 3% West Pacific 4% note: as of June 30, 2025 we lend in our core markets to long-standing relationships


 
residential mortgage $4.6 home equity $2.1 automobile $0.7 other consumer $0.4 consumer portfolio 56% of total loans wtd avg FICOWALTV % total loans % total consumerasset type 80449%33%59%residential mortgage 78946%15%27%home equity 80048%48%86%real estate secured 731n/a5%9%automobile 760n/a3%5%other consumer 791n/a56%100%total consumer 18 $7.9B consumer notes: $ in billions; numbers may not add up due to rounding other consumer primarily comprised of consumer revolving credit, installment, and auto lease financing wtd avg monitoring FICO for other consumer utilizes origination FICO for auto lease financing


 
C&I $1.6 CRE $4.0 construction $0.4 leasing $0.1 commercial portfolio 19 residential mortgage home equity 44% of total loans $6.1B commercial WALTV % total loans % total commlasset type 54%29%66%commercial real estate 59%3%6%construction 55%32%72%real estate secured n/a11%26%commercial & industrial n/a1%2%leasing n/a44%100%total commercial note: $ in billions; numbers may not add up due to rounding


 
inventory (sq ft)vacancy 10 yr CAGR10 yr avg1Q241Q25 0.63%1.63%0.76%1.21%industrial -1.01%12.42%13.56%12.77%office 0.72%6.08%5.90%5.44%retail 0.68%4.59%3.85%3.88%multi-family Oahu market vacancies and inventory 20note: 10-year average vacancy and 10-yr CAGR for inventory are based on year-end 2014 through 2024 source: Colliers (industrial, office, retail) and CoStar (multi-family) stable real estate market


 
multi-family 7% industrial 5% lodging 5% retail 5% office 3% other 4% commercial real estate (CRE) 21 residential mortgage home equity 29% of total loans avg. exposure ($MMs)WALTVasset type 3.256%multi-family 2.555%industrial 14.652%lodging 4.353%retail 1.859%office 3.752%other 3.554%total CRE note: % in chart above is % of total loans


 
CRE scheduled maturities modest near-term maturities 22 9.8% 14.5% 8.6% 7.3% 4.3% 13.7% 41.8% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2025 2026 2027 2028 2029 2030 2031+ $m ill io ns


 
CRE loan balances by LTV 23 LTV > 80% - $51MM, 1.3% of CRE 62.1% 25.4% 11.3% 0.7% 0.01% 0.5% 0 500 1,000 1,500 2,000 2,500 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% $m ill io ns


 
commercial & industrial 24 residential mortgage home equity 11% of total loans note: % in chart above is % of total loans AOAO 3.2% real estate investors 1.7% auto dealers 1.0% renewable energy 0.8% lodging 0.8% educational svcs 0.6% transportation 0.6% wholesale 0.4% other 2.4% avg. exposure ($MMs)% leveragedasset type 1.80%AOAO 1.20%RE investors 5.219%auto dealers 2.90%renewable energy 5.226%lodging 2.10%educational svcs 1.20%transportation 0.40%wholesale trade 0.37%other 0.65%total C&I


 
credit quality 25 0.10% 0.13% 0.07% $0 $0 $0 $0 $0 $0 $0 $0 $0 2Q24 1Q25 2Q25 net charge-offs NCOs/average loans 0.11% 0.12% 0.13% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 2Q24 1Q25 2Q25 non-performing assets NPAs/period-end loans plus OREO 1 78% of total criticized is secured with 54% wtd avg LTV 0.29% 0.30% 0.33% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 2Q24 1Q25 2Q25 delinquencies delinquencies/period-end loans 2.23% 2.08% 2.06% 2Q24 1Q25 2Q25 criticized criticized/period-end loans 1


 
financial update


 
NII and NIM trends 27 increasing NII and NIM $ in millions $125 $133 $142 $141 $136 $124 $121 $116 $114 $115 $118 $120 $126 $130 2.34% 2.47% 2.60% 2.60% 2.47% 2.22% 2.13% 2.13% 2.11% 2.15% 2.18% 2.19% 2.32% 2.39% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 NII NIM


 
28 cashflow repricing total quarterly impact to NII from cashflows repricing: +$3.2 million $ in millions note: +$3.1 million in quarterly impact from cashflows repricing assumes that the cashflows from maturities/prepayments from loans were reinvested into the same products and the cashflows from maturities/prepayments from investment portfolio were reinvested into securities at an average rate of 5.4%, equivalent to average yield at the time of purchase of the securities purchased in 2Q25; numbers may not add up due to rounding 4.8% 6.9% 2.1% 4.5% 6.0% 1.5% 2.4% 5.4% 3.0% 4.0% 6.3% 2.3% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% matured/run-off yield reinvestment opportunities incremental spread 2Q25 maturities/prepayments reinvestment opportunities fixed loans adjustable loans inv. portfolio total $302 $101 $169 $572 $- $100 $200 $300 $400 $500 $600 $700 2Q25 maturities/prepayments fixed loans adjustable loans inv. portfolio total


 
29 deposit mix shift and repricing quarterly NII impact from deposit mix shift and repricing in 2Q25: $(0.5) million $(749) $(967) $(800) $(627) $(488) $(448) $(315) $(105) $(37) $(59) $(1,000) $(800) $(600) $(400) $(200) $- 1Q23 vs 4Q22 2Q23 vs 1Q23 3Q23 vs 2Q23 4Q23 vs 3Q23 1Q24 vs 4Q23 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 QoQ change in average NIBD and low yield interest-bearing deposit balances $ in millions note: low yield interest-bearing deposits include accounts yielding interest of 10 bps or less


 
trend in cost of deposits 30 0.05% 0.07% 0.20% 0.46% 0.75% 1.08% 1.40% 1.67% 1.74% 1.81% 1.87% 1.77% 1.60% 1.60% 0.07% 0.11% 0.30% 0.69% 1.09% 1.54% 1.95% 2.30% 2.39% 2.46% 2.52% 2.37% 2.16% 2.16% 0.29% 0.94% 2.35% 3.82% 4.69% 5.16% 5.43% 5.50% 5.50% 5.50% 5.43% 4.82% 4.50% 4.50% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 total deposit cost interest-bearing deposit cost avg FF 16% 28% 29% 0% 76% 81% 84% 25% 53% 70% 3Q24 4Q24 1Q25 2Q25 downward beta total deposits savings (exl. low yield accounts) time note: low-yield accounts are accounts yielding interest of 10 bps or less


 
31 time deposits $1.5B 51% $0.8B 28% WAR 3.61% WAR 3.53% 0% 10% 20% 30% 40% 50% 60% 3Q25 4Q25 % o f t o ta l t im e d e po si ts s ch ed ul ed to m at u re time deposit rates continue to decrease note: maturity schedule as of June 30, 2025 4.18% 4.20% 4.17% 4.02% 3.67% 3.52% 5.50% 5.50% 5.43% 4.82% 4.50% 4.50% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 time deposits rates avg FF time deposit maturity scheduletime deposit rates


 
32 optimizing balance sheet $1.0 $1.7 $1.7 $1.7 $1.5 $1.3 $1.3 $1.5 $1.0 $1.3 $1.3 $1.3 $1.3 $0.7 $0.7 $0.7 $- $0.2 $2.0 $3.0 $3.0 $3.0 $2.8 $2.0 $2.0 $2.2 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 $ in b ill io n s active swap composition fixed rate loans AFS securities 73% 72% 67% 61% 55% 55% 54% 53% 57% 56% 55% 26% 27% 27% 28% 29% 29% 29% 30% 32% 33% 33% 1% 9% 13% 13% 14% 12% 9% 9% 10% 0.4% 1% 5% 2% 3% 3% 3% 4% 2% 3% 2% 0% 20% 40% 60% 80% 100% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 earning asset composition fixed float/adjustable swaps fed funds sold 100% 56% 44% 100% 100% 44% 56% $(166) $236 $233 $241 $276 $(200) $(100) $- $100 $200 $300 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 $ in m ill io n s securities purchases / sales Fixed Floating note: swaps in ‘earning asset composition’ and ‘swap composition’ does not include $600 million of forward swaps; ‘securities purchases / sales’ do not include stock and PCLI purchases


 
33 rate sensitive earning assets and interest-bearing deposits note: loans, investments, swaps and FF sold balances are as of June 30, 2025; rate sensitive deposit balances are 2Q25 average balances; low-yield accounts are accounts yielding interest of 10 bps or less; all qualified business money management checking accounts are included in ‘IBD excl. low-yield accounts’; numbers may not add up due to rounding $5.9 $1.2 $3.1 $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 savings excl. low-yield accounts IBD excl. low-yield accounts time rate sensitive earning assets $3.3 $1.4 $2.2 $0.3 $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 loans investments swaps FF sold rate sensitive interest-bearing deposits $7.3B $10.1B balance sheet well-positioned for a range of rate outcomes $ in billions


 
noninterest income and expense $ in millions 34 increase in noninterest income and continued discipline in expense management $42.1 $44.1 $44.8 $0 $10 $20 $30 $40 $50 2Q24 1Q25 2Q25 reported noninterest income $109.2 $110.5 $110.8 $0 $20 $40 $60 $80 $100 $120 2Q24 1Q25 2Q25 reported noninterest expense


 
financial summary $ in millions, except per share amounts 35 ∆ 2Q 2024∆ 1Q 20252Q 20241Q 20252Q 2025 $ 14.8$ 3.9$ 114.8$ 125.8$ 129.7net interest income 2.70.742.1 44.1 44.8 noninterest income 17.5 4.6156.9 169.9 174.5 total revenue 1.6 0.3109.2 110.5 110.8 noninterest expense 16.04.347.759.463.7operating income 0.9 -2.4 3.3 3.3 credit provision 1.6 0.611.2 12.2 12.8 income taxes $ 13.6$ 3.6$ 34.1 $ 44.0 $ 47.6 net income $ 10.3$ 3.6$ 32.1 $ 38.7 $ 42.4 net income available to common $ 0.25$ 0.09$ 0.81 $ 0.97 $ 1.06 diluted EPS %0.22%0.06%0.59 %0.75 %0.81 return on assets 2.09 0.7010.41 11.80 12.50 return on average common equity 0.24 0.072.152.322.39net interest margin end of period balances %6.2%1.8$ 7,111$ 7,422$ 7,553investment portfolio 1.2(0.8)13,83114,11514,002loans and leases 1.9(1.0)20,40921,00820,799total deposits 8.12.21,613 1,705 1,743 shareholders' equity note: numbers may not add up due to rounding


 
capital 36note: 2Q25 regulatory capital ratios are preliminary 6.50% 6.50% 6.50% 0.00% 8.00% 8.00% 8.00% 0.00% 10.00% 10.00% 10.00% 0.00% 5.00% 5.00% 5.00% 5.06% 5.08% 5.31% 5.96% 5.93% 6.17% 5.02% 4.97% 5.23% 3.37% 3.36% 3.46% 11.56% 11.58% 11.81% 13.96% 13.93% 14.17% 15.02% 14.97% 15.23% 8.37% 8.36% 8.46% 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 CET1 tier 1 capital total capital tier 1 leverage well-capitalized excess 13.6% BOHC strong capital 60.0% 59.9% 76.5% BOHC 1Q25 BOHC 2Q25 KRX median 1Q25 1 RWA / total assets


 
37 ✔ NII and NIM increased for the fifth consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital takeaways


 
Q & A


 
appendix


 
40note: as of June 30, 2025, cash includes fed funds sold, interest-bearing deposits in other banks and cash and due from banks, and securities available includes unencumbered investment securities Bank of Hawai‘i carries substantial liquidity lines and equivalents for both day-to-day operational and liquidity backstop purposes FRB FHLB securities available cash uninsured/ uncollateralized deposits $10.2B $7.8B readily available liquidity


 
insured/collateralized deposits 41note: as June 30 2025, numbers may not add up due to rounding uninsured/ uncollateralized 37% uninsured/ collateralized 10% insured 53%


 
Oahu market inventory 42 CRE supply constraints 10-yr CAGR: 0.6% 10-yr CAGR: -1.0% 10-yr CAGR: 0.7% 10-yr CAGR: 0.7% note: 10-yr CAGR for inventory are based on year-end 2014 through 2024 source: Colliers (industrial, office, retail) and CoStar (multi-family)


 
CRE office 43 3% of total loans • 59% wtd avg LTV • $1.8MM average exposure • 24% CBD (Downtown Honolulu) - 62% wtd avg LTV - 45% with repayment guaranties • 37% maturing prior to 2027 • 1.3% criticized highlights LTV ≤ 60% 47% LTV > 60% to 70% 34% LTV > 70% to 80% 8% LTV > 80% 11% LTV distribution 2.0% 35.0% 4.6% 10.8% 2.2% 11.2% 34.3% - 50 100 150 200 250 300 2025 2026 2027 2028 2029 2030 2031+ $ m ill io ns scheduled maturity $377MM


 
CRE multi-family 44 7% of total loans • 56% wtd avg LTV • $3.2MM average exposure • 100.0% LIHTC, affordable or market • 17% maturing prior to 2027 • 4.5% criticized highlights LTV ≤ 60% 53% LTV > 60% to 70% 34% LTV > 70% to 80% 13% LTV distribution 11.8% 5.4% 2.7% 4.7% 2.9% 8.3% 64.1% - 100 200 300 400 500 600 700 2025 2026 2027 2028 2029 2030 2031+ $ m ill io ns scheduled maturity $989MM


 

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