First Hawaiian, Inc. Reports Third Quarter 2025 Financial Results and Declares Dividend

Rhea-AI Summary

First Hawaiian, Inc. (NASDAQ:FHB) reported third quarter 2025 results for the period ended September 30, 2025. Net income was $73.8 million or $0.59 diluted EPS. The Board declared a $0.26 per share quarterly cash dividend payable November 28, 2025 (record date November 17, 2025). Total assets were $24.1 billion, gross loans were $14.13 billion (down $222.5 million QoQ) and total deposits were $20.73 billion (up $498.1 million QoQ). Net interest margin rose 8 bps to 3.19%. Provision for credit losses was $4.5 million. The company repurchased 964,000 shares for $24.0 million.

Positive

• Net income of $73.8M in Q3 2025
• Diluted EPS of $0.59
• Total deposits increased $498.1M QoQ
• Net interest margin up 8 bps to 3.19%
• Repurchased 964K shares for $24.0M
• Quarterly dividend declared at $0.26 per share

Negative

• Gross loans declined $222.5M QoQ
• Net charge-offs rose to $4.2M (annualized 0.12%)
• Total non-performing assets increased to $30.9M
• Provision for credit losses remained $4.5M (no reduction)

Insights

Bank financial analyst

Strong quarter: rising net income, higher deposits, margin improvement, continued buybacks and a maintained dividend.

First Hawaiian delivered $73.8 million in net income for the quarter ended September 30, 2025, with net interest income of $169.3 million and a net interest margin of 3.19% (up 8 basis points). Deposits rose by $498.1 million versus the prior quarter while gross loans declined by $222.5 million. Management declared a quarterly cash dividend of $0.26 per share payable on November 28, 2025 to holders of record on November 17, 2025, and repurchased 964 thousand shares at a cost of $24.0 million (average $24.94 per share).

Asset quality and capital stayed stable: the allowance for credit losses was $165.3 million or 1.17% of loans, provision for credit losses was $4.5 million, net charge-offs were $4.2 million (annualized 0.12%), and key capital ratios edged slightly higher with CET1 at 13.24% and tier 1 leverage at 9.16%. Efficiency improved to 55.3% and the effective tax rate normalized to 23.2%.

Watch the near-term trajectory of loan balances, credit costs, and deposit stability over the next quarter as they drive earnings sustainability; key monitorables include quarter-over-quarter loan trends and any movement in net charge-offs and provision levels through Q4 2025. The combination of margin expansion, deposit growth, share repurchases, and a maintained dividend frames this release as a positive operating and capital signal for the institution.

HONOLULU, Hawaii, Oct. 24, 2025 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended September 30, 2025.

“I’m pleased to report that the third quarter was another period of market-leading performance for First Hawaiian Bank,” said Bob Harrison, Chairman, President, and CEO. “These strong results reflect how well our teams and operations work together to deliver outstanding financial performance and the personalized service our customers expect and deserve.”

On October 22, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on November 28, 2025, to stockholders of record at the close of business on November 17, 2025.  

Third Quarter 2025 Highlights:

• Net income of $73.8 million, or $0.59 per diluted share
• Total loans and leases decreased $222.5 million versus prior quarter
• Total deposits increased $498.1 million versus prior quarter
• Net interest margin increased 8 basis points to 3.19%
• Recorded a $4.5 million provision for credit losses
• Board of Directors declared a quarterly dividend of $0.26 per share

Balance Sheet

Total assets were $24.1 billion at September 30, 2025 versus $23.8 billion at June 30, 2025.

Gross loans and leases were $14.1 billion as of September 30, 2025, a decrease of $222.5 million from $14.4 billion as of June 30, 2025.

Total deposits were $20.7 billion as of September 30, 2025, an increase of $498.1 million from June 30, 2025.

Net Interest Income

Net interest income for the third quarter of 2025 was $169.3 million, an increase of $5.7 million, or 3.5%, compared to $163.6 million for the prior quarter.  

The net interest margin was 3.19% in the third quarter of 2025, an increase of 8 basis points compared to 3.11% in the prior quarter.

Provision Expense

During both the quarters ended September 30, 2025 and June 30, 2025, we recorded a $4.5 million provision for credit losses.

Noninterest Income

Noninterest income was $57.1 million in the third quarter of 2025, an increase of $3.1 million compared to noninterest income of $54.0 million in the prior quarter.

Noninterest Expense

Noninterest expense was $125.7 million in the third quarter of 2025, an increase of $0.8 million compared to noninterest expense of $124.9 million in the prior quarter.

The efficiency ratio was 55.3% and 57.2% for the quarters ended September 30, 2025 and June 30, 2025, respectively.

Taxes

The effective tax rate was 23.2% and 16.9% for the quarters ended September 30, 2025 and June 30, 2025, respectively. The lower effective tax rate in the quarter ended June 30, 2025 was primarily due to the remeasurement of the California deferred tax assets as of the beginning of the year, reflecting the enactment of a recent change in the California tax code.

Asset Quality

The allowance for credit losses was $165.3 million, or 1.17% of total loans and leases, as of September 30, 2025, compared to $167.8 million, or 1.17% of total loans and leases, as of June 30, 2025. The reserve for unfunded commitments was $36.2 million as of September 30, 2025 and $33.3 million as of June 30, 2025. Net charge-offs were $4.2 million, or 0.12% of average loans and leases on an annualized basis, for the quarter ended September 30, 2025, compared to net charge-offs of $3.3 million, or 0.09% of average loans and leases on an annualized basis, for the quarter ended June 30, 2025. Total non-performing assets were $30.9 million, or 0.22% of total loans and leases and other real estate owned, on September 30, 2025, compared to total non-performing assets of $28.6 million, or 0.20% of total loans and leases and other real estate owned, on June 30, 2025.

Capital

Total stockholders' equity was $2.7 billion on September 30, 2025 and June 30, 2025.    

The tier 1 leverage, common equity tier 1 and total capital ratios were 9.16%, 13.24% and 14.49%, respectively, on September 30, 2025, compared with 9.12%, 13.03% and 14.28%, respectively, on June 30, 2025.

The Company repurchased 964 thousand shares of common stock at a total cost of $24.0 million under the stock repurchase program in the third quarter. The average cost was $24.94 per share repurchased.  

First Hawaiian, Inc.

First Hawaiian, Inc. (NASDAQ:FHB) is a bank holding company headquartered in Honolulu, Hawaii.  Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii’s oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and merchant processing services. Customers may also access their accounts through ATMs, online and mobile banking channels. For more information about First Hawaiian, Inc., visit the Company’s website, www.fhb.com.

Conference Call Information

First Hawaiian will host a conference call to discuss the Company’s results today at 1:00 p.m. Eastern Time, 7:00 a.m. Hawaii Time.

To access the call by phone, please register via the following link:  
https://register-conf.media-server.com/register/BI72bbd4f6b30c462799fbb2d8bde29739, and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

A live webcast of the conference call, including a slide presentation, will be available at the following link: www.fhb.com/earnings.   The archive of the webcast will be available at the same location.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, there can be no assurance that actual results will not prove to be materially different from the results expressed or implied by the forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements, including (without limitation) the risks and uncertainties associated with the domestic and global economic environment and capital market conditions and other risk factors. For a discussion of some of these risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025.

Use of Non-GAAP Financial Measures

Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We believe that these measurements are useful for investors, regulators, management and others to evaluate financial performance and capital adequacy relative to other financial institutions. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results or financial condition as reported under GAAP. Investors should consider our performance and capital adequacy as reported under GAAP and all other relevant information when assessing our performance and capital adequacy.

Table 14 at the end of this document provides a reconciliation of these non-GAAP financial measures with their most directly comparable GAAP measures.

Investor Relations Contact: Kevin Haseyama, CFA (808) 525-6268 khaseyama@fhb.com

Media Contact: Lindsay Chambers (808) 525-6254 lchambers@fhb.com

Financial Highlights		Table 1
		For the Three Months Ended									For the Nine Months Ended
		September 30,			June 30,			September 30,			September 30,
(dollars in thousands, except per share data)		2025			2025			2024			2025			2024
Operating Results:
Net interest income		$	169,331		$	163,583		$	156,707		$	493,440		$	463,985
Provision for credit losses			4,500			4,500			7,400			19,500			15,500
Noninterest income			57,060			53,958			53,288			161,495			156,427
Noninterest expense			125,744			124,939			126,147			374,243			377,046
Net income			73,840			73,247			61,492			206,335			177,633
Basic earnings per share			0.59			0.58			0.48			1.65			1.39
Diluted earnings per share			0.59			0.58			0.48			1.64			1.38
Dividends declared per share			0.26			0.26			0.26			0.78			0.78
Dividend payout ratio			44.07	%		44.83	%		54.17	%		47.56	%		56.52	%
Performance Ratios(1):
Net interest margin			3.19	%		3.11	%		2.95	%		3.13	%		2.93	%
Efficiency ratio			55.29	%		57.23	%		59.77	%		56.88	%		60.38	%
Return on average total assets			1.22	%		1.23	%		1.02	%		1.15	%		0.99	%
Return on average tangible assets (non-GAAP)(2)			1.27	%		1.28	%		1.06	%		1.20	%		1.03	%
Return on average total stockholders' equity			10.81	%		11.03	%		9.45	%		10.32	%		9.37	%
Return on average tangible stockholders' equity (non-GAAP)(2)			17.08	%		17.61	%		15.35	%		16.45	%		15.43	%
Average Balances:
Average loans and leases		$	14,209,282		$	14,288,918		$	14,304,806		$	14,269,030		$	14,325,065
Average earning assets			21,271,827			21,167,588			21,328,882			21,203,245			21,352,739
Average assets			23,993,685			23,859,410			24,046,696			23,914,896			24,064,208
Average deposits			20,411,117			20,280,042			20,367,805			20,348,609			20,415,746
Average stockholders' equity			2,710,273			2,663,850			2,588,806			2,672,284			2,532,911
Market Value Per Share:
Closing			24.83			24.96			23.15			24.83			23.15
High			26.72			25.09			26.18			28.28			26.18
Low			23.48			20.32			20.28			20.32			19.48

		As of			As of			As of			As of
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands, except per share data)		2025			2025			2024			2024
Balance Sheet Data:
Loans and leases		$	14,129,383		$	14,351,869		$	14,408,258		$	14,241,370
Total assets			24,098,728			23,837,147			23,828,186			23,780,285
Total deposits			20,729,557			20,231,419			20,322,216			20,227,702
Short-term borrowings			—			250,000			250,000			250,000
Total stockholders' equity			2,733,921			2,694,545			2,617,486			2,648,034
Per Share of Common Stock:
Book value		$	22.10		$	21.61		$	20.70		$	20.71
Tangible book value (non-GAAP)(2)			14.05			13.63			12.83			12.92
Asset Quality Ratios:
Non-accrual loans and leases / total loans and leases			0.22	%		0.20	%		0.14	%		0.13	%
Allowance for credit losses for loans and leases / total loans and leases			1.17	%		1.17	%		1.11	%		1.15	%
Capital Ratios:
Common Equity Tier 1 Capital Ratio			13.24	%		13.03	%		12.80	%		13.03	%
Tier 1 Capital Ratio			13.24	%		13.03	%		12.80	%		13.03	%
Total Capital Ratio			14.49	%		14.28	%		13.99	%		14.25	%
Tier 1 Leverage Ratio			9.16	%		9.12	%		9.14	%		9.14	%
Total stockholders' equity to total assets			11.34	%		11.30	%		10.98	%		11.14	%
Tangible stockholders' equity to tangible assets (non-GAAP)(2)			7.52	%		7.44	%		7.10	%		7.25	%
Non-Financial Data:
Number of branches			49			48			48			48
Number of ATMs			275			274			273			273
Number of Full-Time Equivalent Employees			2,001			2,006			1,997			2,022

---

⁽¹⁾   Except for the efficiency ratio, amounts are annualized for the three and nine months ended September 30, 2025 and 2024 and three months ended June 30, 2025.

⁽²⁾   Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We compute our return on average tangible assets as the ratio of net income to average tangible assets, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total assets. We compute our return on average tangible stockholders’ equity as the ratio of net income to average tangible stockholders’ equity, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total stockholders’ equity. We compute our tangible book value per share as the ratio of tangible stockholders’ equity to outstanding shares. Tangible stockholders’ equity is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our total stockholders’ equity. We compute our tangible stockholders’ equity to tangible assets as the ratio of tangible stockholders’ equity to tangible assets, each of which we calculate by subtracting (and thereby effectively excluding) the value of our goodwill. For a reconciliation to the most directly comparable GAAP financial measure, see Table 14, GAAP to Non-GAAP Reconciliation.   

Consolidated Statements of Income		Table 2
		For the Three Months Ended									For the Nine Months Ended
		September 30,			June 30,			September 30,			September 30,
(dollars in thousands, except per share amounts)		2025			2025			2024			2025			2024
Interest income
Loans and lease financing		$	196,441		$	193,393		$	205,682		$	581,936		$	607,594
Available-for-sale investment securities			13,470			12,469			12,850			39,089			41,539
Held-to-maturity investment securities			15,920			16,299			16,937			48,866			52,305
Other			16,744			14,578			14,527			44,573			38,444
Total interest income			242,575			236,739			249,996			714,464			739,882
Interest expense
Deposits			70,851			70,289			87,500			212,849			257,252
Short-term borrowings			2,195			2,627			5,397			7,421			17,303
Other			198			240			392			754			1,342
Total interest expense			73,244			73,156			93,289			221,024			275,897
Net interest income			169,331			163,583			156,707			493,440			463,985
Provision for credit losses			4,500			4,500			7,400			19,500			15,500
Net interest income after provision for credit losses			164,831			159,083			149,307			473,940			448,485
Noninterest income
Service charges on deposit accounts			8,096			7,830			7,783			23,461			23,122
Credit and debit card fees			15,850			15,913			17,533			46,237			49,567
Other service charges and fees			13,807			13,350			11,790			39,324			32,730
Trust and investment services income			9,212			9,154			9,077			27,736			28,857
Bank-owned life insurance			6,314			4,724			4,502			15,409			12,148
Investment securities gains, net			—			—			—			37			—
Other			3,781			2,987			2,603			9,291			10,003
Total noninterest income			57,060			53,958			53,288			161,495			156,427
Noninterest expense
Salaries and employee benefits			61,533			59,501			59,563			181,138			176,562
Contracted services and professional fees			15,785			15,997			14,634			46,621			46,440
Occupancy			7,098			7,934			6,945			23,132			21,263
Equipment			13,834			14,037			13,078			41,742			39,687
Regulatory assessment and fees			3,294			3,759			3,412			10,876			15,346
Advertising and marketing			2,033			2,035			1,813			6,247			6,190
Card rewards program			8,694			8,406			8,678			25,019			25,905
Other			13,473			13,270			18,024			39,468			45,653
Total noninterest expense			125,744			124,939			126,147			374,243			377,046
Income before provision for income taxes			96,147			88,102			76,448			261,192			227,866
Provision for income taxes			22,307			14,855			14,956			54,857			50,233
Net income		$	73,840		$	73,247		$	61,492		$	206,335		$	177,633
Basic earnings per share		$	0.59		$	0.58		$	0.48		$	1.65		$	1.39
Diluted earnings per share		$	0.59		$	0.58		$	0.48		$	1.64		$	1.38
Basic weighted-average outstanding shares			124,267,090			125,321,837			127,886,167			125,282,792			127,820,737
Diluted weighted-average outstanding shares			124,970,898			125,833,064			128,504,035			125,977,271			128,362,433

Consolidated Balance Sheets		Table 3
		September 30,				June 30,				December 31,				September 30,
(dollars in thousands, except share amount)		2025				2025				2024				2024
Assets
Cash and due from banks		$	249,563			$	304,624			$	258,057			$	252,209
Interest-bearing deposits in other banks			1,606,080				1,094,411				912,133				820,603
Investment securities:
Available-for-sale, at fair value (amortized cost: $2,178,092 as of September 30, 2025, $2,097,906 as of June 30, 2025, $2,190,448 as of December 31, 2024 and $2,290,781 as of September 30, 2024)			1,986,717				1,891,654				1,926,516				2,055,959
Held-to-maturity, at amortized cost (fair value: $3,209,883 as of September 30, 2025, $3,230,698 as of June 30, 2025, $3,262,509 as of December 31, 2024 and $3,475,143 as of September 30, 2024)			3,594,188				3,658,814				3,790,650				3,853,697
Loans held for sale			468				—				—				—
Loans and leases			14,129,383				14,351,869				14,408,258				14,241,370
Less: allowance for credit losses			165,269				167,825				160,393				163,700
Net loans and leases			13,964,114				14,184,044				14,247,865				14,077,670
Premises and equipment, net			302,983				299,149				288,530				287,036
Accrued interest receivable			77,878				77,943				79,979				81,875
Bank-owned life insurance			507,950				502,419				491,890				490,135
Goodwill			995,492				995,492				995,492				995,492
Mortgage servicing rights			4,728				4,828				5,078				5,236
Other assets			808,567				823,769				831,996				860,373
Total assets		$	24,098,728			$	23,837,147			$	23,828,186			$	23,780,285
Liabilities and Stockholders' Equity
Deposits:
Interest-bearing		$	13,947,385			$	13,386,987			$	13,347,068			$	13,427,674
Noninterest-bearing			6,782,172				6,844,432				6,975,148				6,800,028
Total deposits			20,729,557				20,231,419				20,322,216				20,227,702
Short-term borrowings			—				250,000				250,000				250,000
Retirement benefits payable			94,504				95,357				97,135				100,448
Other liabilities			540,746				565,826				541,349				554,101
Total liabilities			21,364,807				21,142,602				21,210,700				21,132,251
Stockholders' equity
Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,173,027 / 123,719,585 shares as of September 30, 2025, issued/outstanding: 142,173,027 / 124,683,544 shares as of June 30, 2025, issued/outstanding: 141,748,847 / 126,422,898 shares as of December 31, 2024 and issued/outstanding: 141,735,601 / 127,886,167 shares as of September 30, 2024)			1,422				1,422				1,417				1,417
Additional paid-in capital			2,572,156				2,567,936				2,560,380				2,558,158
Retained earnings			1,041,573				1,000,997				934,048				915,062
Accumulated other comprehensive loss, net			(388,149	)			(407,008	)			(463,994	)			(452,658	)
Treasury stock (18,453,442 shares as of September 30, 2025, 17,489,483 shares as of June 30, 2025, 15,325,949 shares as of December 31, 2024 and 13,849,434 shares as of September 30, 2024)			(493,081	)			(468,802	)			(414,365	)			(373,945	)
Total stockholders' equity			2,733,921				2,694,545				2,617,486				2,648,034
Total liabilities and stockholders' equity		$	24,098,728			$	23,837,147			$	23,828,186			$	23,780,285

Average Balances and Interest Rates																								Table 4
		Three Months Ended								Three Months Ended								Three Months Ended
		September 30, 2025								June 30, 2025								September 30, 2024
		Average			Income/			Yield/		Average			Income/			Yield/		Average			Income/			Yield/
(dollars in millions)		Balance			Expense			Rate		Balance			Expense			Rate		Balance			Expense			Rate
Earning Assets
Interest-Bearing Deposits in Other Banks		$	1,471.0		$	16.3		4.40	%	$	1,276.8		$	14.1		4.45	%	$	1,020.4		$	13.9		5.40	%
Available-for-Sale Investment Securities
Taxable			1,921.2			13.5		2.80			1,869.3			12.5		2.67			2,062.6			12.8		2.48
Non-Taxable			1.2			—		5.07			1.3			—		5.27			1.5			—		5.06
Held-to-Maturity Investment Securities
Taxable			3,036.1			12.8		1.68			3,099.9			13.2		1.70			3,288.2			13.8		1.67
Non-Taxable			595.5			3.6		2.39			596.5			3.3		2.21			602.3			3.7		2.46
Total Investment Securities			5,554.0			29.9		2.15			5,567.0			29.0		2.08			5,954.6			30.3		2.03
Loans Held for Sale			0.9			—		5.71			0.3			—		6.86			2.2			—		5.64
Loans and Leases(1)
Commercial and industrial			2,144.0			33.6		6.22			2,291.5			35.2		6.16			2,165.3			38.0		6.98
Commercial real estate			4,481.5			69.9		6.18			4,392.5			66.9		6.11			4,278.3			71.6		6.67
Construction			891.9			15.2		6.78			900.4			14.9		6.66			1,040.7			20.3		7.74
Residential:
Residential mortgage			4,077.1			40.4		3.96			4,104.1			40.2		3.92			4,204.5			40.4		3.84
Home equity line			1,167.0			14.0		4.76			1,154.4			13.4		4.64			1,158.5			13.2		4.52
Consumer			1,018.4			19.6		7.63			1,013.9			19.2		7.58			1,035.3			18.7		7.19
Lease financing			429.4			4.3		3.98			432.1			4.2		3.90			422.2			4.0		3.72
Total Loans and Leases			14,209.3			197.0		5.51			14,288.9			194.0		5.44			14,304.8			206.2		5.74
Other Earning Assets			36.6			0.4		4.72			34.6			0.4		4.94			46.9			0.7		5.83
Total Earning Assets(2)			21,271.8			243.6		4.55			21,167.6			237.5		4.50			21,328.9			251.1		4.69
Cash and Due from Banks			243.3								222.3								242.3
Other Assets			2,478.6								2,469.5								2,475.5
Total Assets		$	23,993.7							$	23,859.4							$	24,046.7
Interest-Bearing Liabilities
Interest-Bearing Deposits
Savings		$	6,331.6		$	21.9		1.37	%	$	6,247.5		$	21.0		1.35	%	$	5,963.1		$	23.6		1.57	%
Money Market			3,837.6			23.4		2.42			3,822.1			22.8		2.39			4,179.5			31.9		3.04
Time			3,353.9			25.5		3.02			3,389.4			26.5		3.14			3,327.3			32.0		3.83
Total Interest-Bearing Deposits			13,523.1			70.8		2.08			13,459.0			70.3		2.09			13,469.9			87.5		2.58
Other Short-Term Borrowings			206.5			2.2		4.22			250.0			2.6		4.22			451.1			5.4		4.76
Other Interest-Bearing Liabilities			14.4			0.2		5.46			20.8			0.2		4.62			22.4			0.4		6.97
Total Interest-Bearing Liabilities			13,744.0			73.2		2.11			13,729.8			73.1		2.14			13,943.4			93.3		2.66
Net Interest Income					$	170.4							$	164.4							$	157.8
Interest Rate Spread(3)								2.44	%							2.36	%							2.03	%
Net Interest Margin(4)								3.19	%							3.11	%							2.95	%
Noninterest-Bearing Demand Deposits			6,888.0								6,821.0								6,897.9
Other Liabilities			651.4								644.7								616.6
Stockholders' Equity			2,710.3								2,663.9								2,588.8
Total Liabilities and Stockholders' Equity		$	23,993.7							$	23,859.4							$	24,046.7

---

⁽¹⁾   Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

⁽²⁾   Interest income includes taxable-equivalent basis adjustments of $1.0 million, $0.8 million and $1.1 million for the three months ended September 30, 2025, June 30, 2025 and September 30, 2024, respectively.

⁽³⁾   Interest rate spread is the difference between the average yield on earning assets and the average rate paid on interest-bearing liabilities, on a fully taxable-equivalent basis.

⁽⁴⁾   Net interest margin is net interest income annualized for the three months ended September 30, 2025, June 30, 2025 and September 30, 2024, on a fully taxable-equivalent basis, divided by average total earning assets.

Average Balances and Interest Rates																Table 5
		Nine Months Ended								Nine Months Ended
		September 30, 2025								September 30, 2024
		Average			Income/			Yield/		Average			Income/			Yield/
(dollars in millions)		Balance			Expense			Rate		Balance			Expense			Rate
Earning Assets
Interest-Bearing Deposits in Other Banks		$	1,307.4		$	43.3		4.43	%	$	884.6		$	35.9		5.43	%
Available-for-Sale Investment Securities
Taxable			1,894.1			39.0		2.75			2,124.4			41.5		2.61
Non-Taxable			1.3			0.1		5.31			1.6			0.1		5.49
Held-to-Maturity Investment Securities
Taxable			3,099.5			39.6		1.70			3,354.0			42.7		1.70
Non-Taxable			597.0			10.5		2.37			602.9			11.7		2.58
Total Investment Securities			5,591.9			89.2		2.13			6,082.9			96.0		2.10
Loans Held for Sale			0.5			—		6.03			1.3			0.1		6.11
Loans and Leases(1)
Commercial and industrial			2,210.6			102.5		6.20			2,177.2			113.3		6.95
Commercial real estate			4,431.6			203.2		6.13			4,302.4			213.4		6.62
Construction			909.6			45.6		6.71			983.6			56.2		7.63
Residential:
Residential mortgage			4,110.2			121.5		3.94			4,232.6			122.5		3.86
Home equity line			1,157.2			40.4		4.67			1,164.9			37.8		4.34
Consumer			1,017.2			57.7		7.58			1,057.6			54.4		6.87
Lease financing			432.6			12.8		3.96			406.8			11.9		3.90
Total Loans and Leases			14,269.0			583.7		5.47			14,325.1			609.5		5.68
Other Earning Assets			34.4			1.3		5.03			58.8			2.5		5.69
Total Earning Assets(2)			21,203.2			717.5		4.52			21,352.7			744.0		4.65
Cash and Due from Banks			233.9								242.4
Other Assets			2,477.8								2,469.1
Total Assets		$	23,914.9							$	24,064.2
Interest-Bearing Liabilities
Interest-Bearing Deposits
Savings		$	6,270.9		$	64.1		1.37	%	$	6,007.6		$	70.5		1.57	%
Money Market			3,860.3			69.2		2.40			4,067.5			91.3		3.00
Time			3,353.6			79.5		3.17			3,312.3			95.5		3.85
Total Interest-Bearing Deposits			13,484.8			212.8		2.11			13,387.4			257.3		2.57
Other Short-Term Borrowings			235.3			7.4		4.22			483.6			17.3		4.78
Other Interest-Bearing Liabilities			20.9			0.8		4.84			31.1			1.3		5.75
Total Interest-Bearing Liabilities			13,741.0			221.0		2.15			13,902.1			275.9		2.65
Net Interest Income					$	496.5							$	468.1
Interest Rate Spread(3)								2.37	%							2.00	%
Net Interest Margin(4)								3.13	%							2.93	%
Noninterest-Bearing Demand Deposits			6,863.8								7,028.4
Other Liabilities			637.8								600.8
Stockholders' Equity			2,672.3								2,532.9
Total Liabilities and Stockholders' Equity		$	23,914.9							$	24,064.2

---

⁽¹⁾   Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

⁽²⁾   Interest income includes taxable-equivalent basis adjustments of $3.1 million and $4.1 million for the nine months ended September 30, 2025 and 2024, respectively.

⁽³⁾   Interest rate spread is the difference between the average yield on earning assets and the average rate paid on interest-bearing liabilities, on a fully taxable-equivalent basis.

⁽⁴⁾   Net interest margin is net interest income annualized for the nine months ended September 30, 2025 and 2024, on a fully taxable-equivalent basis, divided by average total earning assets.

Analysis of Change in Net Interest Income											Table 6
		Three Months Ended September 30, 2025
		Compared to June 30, 2025
(dollars in millions)		Volume				Rate				Total(1)
Change in Interest Income:
Interest-Bearing Deposits in Other Banks		$	2.3			$	(0.1	)		$	2.2
Available-for-Sale Investment Securities
Taxable			0.4				0.6				1.0
Held-to-Maturity Investment Securities
Taxable			(0.3	)			(0.1	)			(0.4	)
Non-Taxable			—				0.3				0.3
Total Investment Securities			0.1				0.8				0.9
Loans and Leases
Commercial and industrial			(2.0	)			0.4				(1.6	)
Commercial real estate			1.9				1.1				3.0
Construction			(0.1	)			0.4				0.3
Residential:
Residential mortgage			(0.2	)			0.4				0.2
Home equity line			0.2				0.4				0.6
Consumer			0.2				0.2				0.4
Lease financing			—				0.1				0.1
Total Loans and Leases			—				3.0				3.0
Total Change in Interest Income			2.4				3.7				6.1
Change in Interest Expense:
Interest-Bearing Deposits
Savings			0.4				0.5				0.9
Money Market			0.1				0.5				0.6
Time			(0.2	)			(0.8	)			(1.0	)
Total Interest-Bearing Deposits			0.3				0.2				0.5
Other Short-Term Borrowings			(0.4	)			—				(0.4	)
Total Change in Interest Expense			(0.1	)			0.2				0.1
Change in Net Interest Income		$	2.5			$	3.5			$	6.0

---

⁽¹⁾   The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

Analysis of Change in Net Interest Income											Table 7
		Three Months Ended September 30, 2025
		Compared to September 30, 2024
(dollars in millions)		Volume				Rate				Total(1)
Change in Interest Income:
Interest-Bearing Deposits in Other Banks		$	5.3			$	(2.9	)		$	2.4
Available-for-Sale Investment Securities
Taxable			(0.9	)			1.6				0.7
Held-to-Maturity Investment Securities
Taxable			(1.1	)			0.1				(1.0	)
Non-Taxable			—				(0.1	)			(0.1	)
Total Investment Securities			(2.0	)			1.6				(0.4	)
Loans and Leases
Commercial and industrial			(0.4	)			(4.0	)			(4.4	)
Commercial real estate			3.5				(5.2	)			(1.7	)
Construction			(2.7	)			(2.4	)			(5.1	)
Residential:
Residential mortgage			(1.2	)			1.2				—
Home equity line			0.1				0.7				0.8
Consumer			(0.3	)			1.2				0.9
Lease financing			—				0.3				0.3
Total Loans and Leases			(1.0	)			(8.2	)			(9.2	)
Other Earning Assets			(0.2	)			(0.1	)			(0.3	)
Total Change in Interest Income			2.1				(9.6	)			(7.5	)
Change in Interest Expense:
Interest-Bearing Deposits
Savings			1.4				(3.1	)			(1.7	)
Money Market			(2.4	)			(6.1	)			(8.5	)
Time			0.2				(6.7	)			(6.5	)
Total Interest-Bearing Deposits			(0.8	)			(15.9	)			(16.7	)
Other Short-Term Borrowings			(2.6	)			(0.6	)			(3.2	)
Other Interest-Bearing Liabilities			(0.1	)			(0.1	)			(0.2	)
Total Change in Interest Expense			(3.5	)			(16.6	)			(20.1	)
Change in Net Interest Income		$	5.6			$	7.0			$	12.6

---

⁽¹⁾   The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

Analysis of Change in Net Interest Income											Table 8
		Nine Months Ended September 30, 2025
		Compared to September 30, 2024
(dollars in millions)		Volume				Rate				Total(1)
Change in Interest Income:
Interest-Bearing Deposits in Other Banks		$	14.9			$	(7.5	)		$	7.4
Available-for-Sale Investment Securities
Taxable			(4.7	)			2.2				(2.5	)
Held-to-Maturity Investment Securities
Taxable			(3.1	)			—				(3.1	)
Non-Taxable			(0.2	)			(1.0	)			(1.2	)
Total Investment Securities			(8.0	)			1.2				(6.8	)
Loans Held for Sale			(0.1	)			—				(0.1	)
Loans and Leases
Commercial and industrial			1.7				(12.5	)			(10.8	)
Commercial real estate			6.2				(16.4	)			(10.2	)
Construction			(4.1	)			(6.5	)			(10.6	)
Residential:
Residential mortgage			(3.5	)			2.5				(1.0	)
Home equity line			(0.3	)			2.9				2.6
Consumer			(2.1	)			5.4				3.3
Lease financing			0.7				0.2				0.9
Total Loans and Leases			(1.4	)			(24.4	)			(25.8	)
Other Earning Assets			(0.9	)			(0.3	)			(1.2	)
Total Change in Interest Income			4.5				(31.0	)			(26.5	)
Change in Interest Expense:
Interest-Bearing Deposits
Savings			2.9				(9.3	)			(6.4	)
Money Market			(4.5	)			(17.6	)			(22.1	)
Time			1.2				(17.2	)			(16.0	)
Total Interest-Bearing Deposits			(0.4	)			(44.1	)			(44.5	)
Other Short-Term Borrowings			(8.0	)			(1.9	)			(9.9	)
Other Interest-Bearing Liabilities			(0.4	)			(0.1	)			(0.5	)
Total Change in Interest Expense			(8.8	)			(46.1	)			(54.9	)
Change in Net Interest Income		$	13.3			$	15.1			$	28.4

---

⁽¹⁾   The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

Loans and Leases												Table 9
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands)		2025			2025			2024			2024
Commercial and industrial		$	2,027,504		$	2,370,210		$	2,247,428		$	2,110,077
Commercial real estate			4,513,706			4,411,585			4,463,992			4,265,289
Construction			881,462			884,306			918,326			1,056,249
Residential:
Residential mortgage			4,077,946			4,085,827			4,168,154			4,187,060
Home equity line			1,170,822			1,161,876			1,151,739			1,159,823
Total residential			5,248,768			5,247,703			5,319,893			5,346,883
Consumer			1,013,663			1,011,125			1,023,969			1,030,044
Lease financing			444,280			426,940			434,650			432,828
Total loans and leases		$	14,129,383		$	14,351,869		$	14,408,258		$	14,241,370

Deposits												Table 10
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands)		2025			2025			2024			2024
Demand		$	6,782,172		$	6,844,432		$	6,975,148		$	6,800,028
Savings			6,691,136			6,219,801			6,021,364			5,896,029
Money Market			3,874,614			3,777,681			4,027,334			4,129,381
Time			3,381,635			3,389,505			3,298,370			3,402,264
Total Deposits		$	20,729,557		$	20,231,419		$	20,322,216		$	20,227,702

Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More												Table 11
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands)		2025			2025			2024			2024
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial Loans:
Commercial and industrial		$	1,084		$	1,184		$	329		$	934
Commercial real estate			3,089			3,185			411			152
Construction			904			904			—			—
Lease financing			169			—			—			—
Total Commercial Loans			5,246			5,273			740			1,086
Residential Loans:
Residential mortgage			16,702			15,032			12,768			9,103
Home equity line			8,385			8,286			7,171			7,645
Total Residential Loans			25,087			23,318			19,939			16,748
Consumer			600			—			—			—
Total Non-Accrual Loans and Leases			30,933			28,591			20,679			17,834
Total Non-Performing Assets		$	30,933		$	28,591		$	20,679		$	17,834
Accruing Loans and Leases Past Due 90 Days or More
Commercial Loans:
Commercial and industrial		$	633		$	942		$	1,432		$	529
Commercial real estate			—			—			—			568
Construction			2,063			—			536			—
Total Commercial Loans			2,696			942			1,968			1,097
Residential mortgage			627			309			1,317			931
Consumer			2,566			3,187			2,734			2,515
Total Accruing Loans and Leases Past Due 90 Days or More		$	5,889		$	4,438		$	6,019		$	4,543
Total Loans and Leases		$	14,129,383		$	14,351,869		$	14,408,258		$	14,241,370

Allowance for Credit Losses and Reserve for Unfunded Commitments		Table 12
		For the Three Months Ended												For the Nine Months Ended
		September 30,				June 30,				September 30,				September 30,				September 30,
(dollars in thousands)		2025				2025				2024				2025				2024
Balance at Beginning of Period		$	201,172			$	199,959			$	193,930			$	193,240			$	192,138
Loans and Leases Charged-Off
Commercial Loans:
Commercial and industrial			(1,106	)			(688	)			(1,178	)			(3,253	)			(2,764	)
Commercial real estate			—				—				(400	)			—				(400	)
Lease financing			(580	)			(82	)			—				(662	)			—
Total Commercial Loans			(1,686	)			(770	)			(1,578	)			(3,915	)			(3,164	)
Home equity line			—				(16	)			—				(30	)			—
Consumer			(4,719	)			(4,543	)			(4,192	)			(14,287	)			(13,228	)
Total Loans and Leases Charged-Off			(6,405	)			(5,329	)			(5,770	)			(18,232	)			(16,392	)
Recoveries on Loans and Leases Previously Charged-Off
Commercial Loans:
Commercial and industrial			410				196				160				1,009				621
Commercial real estate			—				—				—				251				—
Total Commercial Loans			410				196				160				1,260				621
Residential Loans:
Residential mortgage			14				109				31				143				89
Home equity line			26				32				86				122				242
Total Residential Loans			40				141				117				265				331
Consumer			1,749				1,705				1,560				5,433				5,199
Total Recoveries on Loans and Leases Previously Charged-Off			2,199				2,042				1,837				6,958				6,151
Net Loans and Leases Charged-Off			(4,206	)			(3,287	)			(3,933	)			(11,274	)			(10,241	)
Provision for Credit Losses			4,500				4,500				7,400				19,500				15,500
Balance at End of Period		$	201,466			$	201,172			$	197,397			$	201,466			$	197,397
Components:
Allowance for Credit Losses		$	165,269			$	167,825			$	163,700			$	165,269			$	163,700
Reserve for Unfunded Commitments			36,197				33,347				33,697				36,197				33,697
Total Allowance for Credit Losses and Reserve for Unfunded Commitments		$	201,466			$	201,172			$	197,397			$	201,466			$	197,397
Average Loans and Leases Outstanding		$	14,209,282			$	14,288,918			$	14,304,806			$	14,269,030			$	14,325,065
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding(1)			0.12		%		0.09		%		0.11		%		0.11		%		0.10		%
Ratio of Allowance for Credit Losses for Loans and Leases to Loans and Leases Outstanding			1.17		%		1.17		%		1.15		%		1.17		%		1.15		%
Ratio of Allowance for Credit Losses for Loans and Leases to Non-accrual Loans and Leases			5.34x				5.87x				9.18x				5.34x				9.18x

---

⁽¹⁾   Annualized for the three and nine months ended September 30, 2025 and 2024 and three months ended June 30, 2025.

Loans and Leases by Year of Origination and Credit Quality Indicator																											Table 13
																							Revolving
																							Loans
																							Converted
		Term Loans																		Revolving			to Term
		Amortized Cost Basis by Origination Year																		Loans			Loans
																				Amortized			Amortized
(dollars in thousands)		2025			2024			2023			2022			2021			Prior			Cost Basis			Cost Basis			Total
Commercial Lending
Commercial and Industrial
Risk rating:
Pass		$	164,270		$	126,437		$	58,184		$	113,813		$	154,746		$	235,902		$	986,942		$	13,454		$	1,853,748
Special Mention			369			873			1,975			1,552			460			951			4,901			—			11,081
Substandard			522			—			553			10,315			29			21,031			46,247			—			78,697
Other(1)			14,325			10,217			5,859			4,180			1,493			1,370			46,534			—			83,978
Total Commercial and Industrial			179,486			137,527			66,571			129,860			156,728			259,254			1,084,624			13,454			2,027,504
Current period gross charge-offs			1			60			224			528			356			2,054			30			—			3,253
Commercial Real Estate
Risk rating:
Pass			487,374			289,898			374,448			768,901			680,910			1,622,149			77,525			7,513			4,308,718
Special Mention			—			3,336			1,675			45,579			41,394			20,943			11,007			—			123,934
Substandard			—			5,581			535			57,334			999			15,776			704			—			80,929
Other(1)			—			—			—			—			—			125			—			—			125
Total Commercial Real Estate			487,374			298,815			376,658			871,814			723,303			1,658,993			89,236			7,513			4,513,706
Current period gross charge-offs			—			—			—			—			—			—			—			—			—
Construction
Risk rating:
Pass			40,387			174,819			211,886			234,984			88,827			47,257			23,417			—			821,577
Special Mention			—			—			—			27,965			—			130			—			—			28,095
Substandard			—			—			—			—			—			904			—			—			904
Other(1)			4,934			12,062			5,738			4,712			948			1,801			691			—			30,886
Total Construction			45,321			186,881			217,624			267,661			89,775			50,092			24,108			—			881,462
Current period gross charge-offs			—			—			—			—			—			—			—			—			—
Lease Financing
Risk rating:
Pass			106,920			83,244			94,376			47,063			11,403			95,610			—			—			438,616
Special Mention			—			—			191			—			143			—			—			—			334
Substandard			—			4,643			448			239			—			—			—			—			5,330
Total Lease Financing			106,920			87,887			95,015			47,302			11,546			95,610			—			—			444,280
Current period gross charge-offs			—			662			—			—			—			—			—			—			662
Total Commercial Lending		$	819,101		$	711,110		$	755,868		$	1,316,637		$	981,352		$	2,063,949		$	1,197,968		$	20,967		$	7,866,952
Current period gross charge-offs		$	1		$	722		$	224		$	528		$	356		$	2,054		$	30		$	—		$	3,915

(continued)

																							Revolving
																							Loans
																							Converted
		Term Loans																		Revolving			to Term
		Amortized Cost Basis by Origination Year																		Loans			Loans
(continued)																				Amortized			Amortized
(dollars in thousands)		2025			2024			2023			2022			2021			Prior			Cost Basis			Cost Basis			Total
Residential Lending
Residential Mortgage
FICO:
740 and greater		$	118,602		$	153,379		$	183,019		$	464,813		$	890,038		$	1,508,771		$	—		$	—		$	3,318,622
680 - 739			14,318			17,797			23,479			59,890			110,055			185,858			—			—			411,397
620 - 679			3,292			4,078			4,988			23,155			17,763			45,190			—			—			98,466
550 - 619			—			289			443			3,898			7,554			17,861			—			—			30,045
Less than 550			—			156			1,151			3,606			4,591			8,836			—			—			18,340
No Score(3)			6,473			5,108			5,734			16,590			9,678			45,548			—			—			89,131
Other(2)			17,616			7,820			11,721			15,836			13,834			33,405			11,713			—			111,945
Total Residential Mortgage			160,301			188,627			230,535			587,788			1,053,513			1,845,469			11,713			—			4,077,946
Current period gross charge-offs			—			—			—			—			—			—			—			—			—
Home Equity Line
FICO:
740 and greater			—			—			—			—			—			—			932,699			1,276			933,975
680 - 739			—			—			—			—			—			—			173,826			1,405			175,231
620 - 679			—			—			—			—			—			—			36,242			643			36,885
550 - 619			—			—			—			—			—			—			14,408			538			14,946
Less than 550			—			—			—			—			—			—			8,653			391			9,044
No Score(3)			—			—			—			—			—			—			741			—			741
Total Home Equity Line			—			—			—			—			—			—			1,166,569			4,253			1,170,822
Current period gross charge-offs			—			—			—			—			—			—			30			—			30
Total Residential Lending		$	160,301		$	188,627		$	230,535		$	587,788		$	1,053,513		$	1,845,469		$	1,178,282		$	4,253		$	5,248,768
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	30		$	—		$	30
Consumer Lending
FICO:
740 and greater			84,749			70,671			47,226			57,234			25,525			6,915			97,360			110			389,790
680 - 739			65,723			53,325			32,726			28,693			12,675			4,404			84,865			509			282,920
620 - 679			33,601			22,847			12,376			13,283			6,706			3,470			49,756			874			142,913
550 - 619			6,331			9,720			6,752			8,322			4,309			2,776			16,575			798			55,583
Less than 550			1,409			4,204			3,925			4,272			2,226			1,571			5,203			574			23,384
No Score(3)			842			13			47			12			—			23			37,625			170			38,732
Other(2)			3,552			—			600			—			565			1,020			74,604			—			80,341
Total Consumer Lending		$	196,207		$	160,780		$	103,652		$	111,816		$	52,006		$	20,179		$	365,988		$	3,035		$	1,013,663
Current period gross charge-offs		$	389		$	1,922		$	1,392		$	1,272		$	674		$	1,804		$	6,223		$	611		$	14,287
Total Loans and Leases		$	1,175,609		$	1,060,517		$	1,090,055		$	2,016,241		$	2,086,871		$	3,929,597		$	2,742,238		$	28,255		$	14,129,383
Current period gross charge-offs		$	390		$	2,644		$	1,616		$	1,800		$	1,030		$	3,858		$	6,283		$	611		$	18,232

---

⁽¹⁾   Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score (680 and above). As of September 30, 2025, the majority of the loans in this population were current.

⁽²⁾   Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. As of September 30, 2025, the majority of the loans in this population were current.

⁽³⁾   No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance.

GAAP to Non-GAAP Reconciliation		Table 14
		For the Three Months Ended									For the Nine Months Ended
		September 30,			June 30,			September 30,			September 30,
(dollars in thousands)		2025			2025			2024			2025			2024
Income Statement Data:
Net income		$	73,840		$	73,247		$	61,492		$	206,335		$	177,633
Average total stockholders' equity		$	2,710,273		$	2,663,850		$	2,588,806		$	2,672,284		$	2,532,911
Less: average goodwill			995,492			995,492			995,492			995,492			995,492
Average tangible stockholders' equity		$	1,714,781		$	1,668,358		$	1,593,314		$	1,676,792		$	1,537,419
Average total assets		$	23,993,685		$	23,859,410		$	24,046,696		$	23,914,896		$	24,064,208
Less: average goodwill			995,492			995,492			995,492			995,492			995,492
Average tangible assets		$	22,998,193		$	22,863,918		$	23,051,204		$	22,919,404		$	23,068,716
Return on average total stockholders' equity(1)			10.81	%		11.03	%		9.45	%		10.32	%		9.37	%
Return on average tangible stockholders' equity (non-GAAP)(1)			17.08	%		17.61	%		15.35	%		16.45	%		15.43	%
Return on average total assets(1)			1.22	%		1.23	%		1.02	%		1.15	%		0.99	%
Return on average tangible assets (non-GAAP)(1)			1.27	%		1.28	%		1.06	%		1.20	%		1.03	%

		As of			As of			As of			As of
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands, except per share amounts)		2025			2025			2024			2024
Balance Sheet Data:
Total stockholders' equity		$	2,733,921		$	2,694,545		$	2,617,486		$	2,648,034
Less: goodwill			995,492			995,492			995,492			995,492
Tangible stockholders' equity		$	1,738,429		$	1,699,053		$	1,621,994		$	1,652,542
Total assets		$	24,098,728		$	23,837,147		$	23,828,186		$	23,780,285
Less: goodwill			995,492			995,492			995,492			995,492
Tangible assets		$	23,103,236		$	22,841,655		$	22,832,694		$	22,784,793
Shares outstanding			123,719,585			124,683,544			126,422,898			127,886,167
Total stockholders' equity to total assets			11.34	%		11.30	%		10.98	%		11.14	%
Tangible stockholders' equity to tangible assets (non-GAAP)			7.52	%		7.44	%		7.10	%		7.25	%
Book value per share		$	22.10		$	21.61		$	20.70		$	20.71
Tangible book value per share (non-GAAP)		$	14.05		$	13.63		$	12.83		$	12.92

---

⁽¹⁾   Annualized for the three and nine months ended September 30, 2025 and 2024 and three months ended June 30, 2025.

FAQ

What did First Hawaiian (FHB) report for net income in Q3 2025?

First Hawaiian reported $73.8 million net income for Q3 2025, or $0.59 diluted EPS.

When is First Hawaiian (FHB) paying the declared $0.26 dividend?

The $0.26 per share dividend is payable on November 28, 2025 to shareholders of record on November 17, 2025.

How did First Hawaiian's (FHB) deposits and loans change in Q3 2025?

Total deposits rose $498.1 million QoQ to $20.73 billion; gross loans fell $222.5 million to $14.13 billion.

What was First Hawaiian's (FHB) net interest margin in Q3 2025 and its change?

Net interest margin was 3.19% in Q3 2025, up 8 basis points from the prior quarter.

Did First Hawaiian (FHB) repurchase shares in Q3 2025 and at what cost?

Yes — the company repurchased 964,000 shares at a total cost of $24.0 million (average $24.94 per share).

What asset quality metrics did First Hawaiian (FHB) report for Q3 2025?

Allowance for credit losses was $165.3 million (1.17% of loans); non-performing assets were $30.9 million (0.22%).