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Bank of Hawaii (NYSE: BOH) Q1 2026 earnings: $57.4M net income, NIM 2.74%

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Bank of Hawaii Corporation reported first quarter 2026 diluted earnings per common share of $1.30, down from $1.39 in the prior quarter. Net income was $57.4 million versus $60.9 million, as higher expenses offset stronger interest income. Net interest income rose to $151.0 million, and net interest margin expanded to 2.74%, helped by lower deposit costs after late-2025 rate cuts. Noninterest income slipped to $41.3 million, while noninterest expense increased to $116.1 million, including $3.5 million of accelerated restricted stock vesting and $0.7 million of separation costs.

Asset quality remained strong, with non-performing assets of $12.1 million, or 0.09% of total loans and leases and foreclosed real estate, and annualized net charge-offs of 0.03%. Loans and leases grew to $14.2 billion, while deposits edged down to $21.0 billion. Capital ratios stayed well above regulatory minimums, including a Tier 1 Capital Ratio of 14.40%. The company repurchased $15.1 million of common stock and the board declared a quarterly common dividend of $0.70 per share.

Positive

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Negative

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Insights

Quarter shows stable profitability, margin gains, and very strong credit.

Bank of Hawaii delivered net income of $57.4M and diluted EPS of $1.30, slightly below the linked quarter as higher operating costs offset solid revenue. Total revenue reached $192.3M, with net interest income up and fee income modestly softer.

Net interest margin improved to 2.74%, the eighth consecutive quarterly increase, driven by a lower cost of deposits and disciplined balance sheet management. Loans and leases grew to $14.2B, while deposits of $21.0B dipped slightly, reflecting modest balance normalization rather than stress in the figures presented.

Credit metrics remained strong: non-performing assets were $12.1M, or 0.09% of total loans and leases and foreclosed real estate, and annualized net charge-offs were just 0.03%. Capital stayed robust, with a Tier 1 Capital Ratio of 14.40%. The company continued capital returns through $15.1M of share repurchases and a $0.70 quarterly common dividend, supported by solid earnings and regulatory capital headroom.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income $57.4M Quarter ended March 31, 2026
Diluted EPS $1.30 Quarter ended March 31, 2026
Total revenue $192.3M Net interest income plus noninterest income, Q1 2026
Net interest income $151.0M Quarter ended March 31, 2026
Net interest margin 2.74% Quarter ended March 31, 2026; up 13 bps from linked quarter
Loans and leases $14.19B Outstanding as of March 31, 2026
Total deposits $20.96B Outstanding as of March 31, 2026
Tier 1 Capital Ratio 14.40% Preliminary, as of March 31, 2026
Net interest margin financial
"Net interest margin was 2.74% in the first quarter of 2026, an increase of 13 basis points from the linked quarter"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
Noninterest income financial
"Noninterest income was $41.3 million in the first quarter of 2026, a decrease of 6.6% from the linked quarter"
Noninterest income is the money a bank or financial firm earns from activities other than charging interest on loans, such as account fees, transaction charges, advisory and underwriting fees, trading gains, and service income — like a store making extra money from repairs, warranties or delivery charges rather than product sales. It matters to investors because it shows how diversified a company’s revenue is and whether it can withstand changes in interest rates; a strong noninterest income stream can stabilize profits but may also be more variable than steady loan interest.
Tier 1 Capital Ratio financial
"The Tier 1 Capital Ratio was 14.40% at March 31, 2026 compared with 14.49% at December 31, 2025"
A tier 1 capital ratio measures a bank’s core financial strength by comparing its most reliable capital — such as shareholder equity and retained profits — to its assets after adjusting for how risky those assets are. Think of it as the firm’s shock-absorbing cushion relative to the danger of its exposures; higher ratios mean the bank is better positioned to absorb losses, meet regulations and continue lending, which matters to investors assessing safety and long-term returns.
Non-performing assets financial
"Total non-performing assets were $12.1 million at March 31, 2026, down $2.1 million from December 31, 2025"
Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.
Allowance for credit losses financial
"The allowance for credit losses on loans and leases was $147.0 million at March 31, 2026"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Offering Type earnings_snapshot
Understanding 8-K Material Events →
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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 ReportApril 20, 2026
(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 April 20, 2026, Bank of Hawaii Corporation announced its results of operations for the quarter ended March 31, 2026. 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
April 20, 2026 Press Release: Bank of Hawaii Corporation First Quarter 2026 Financial Results. Any internet addresses provided in this release are for informational purposes only and are not intended to be hyperlinks. Furnished herewith.
99.2
Bank of Hawaii Corporation First Quarter 2026 Financial Report
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: April 20, 2026
Bank of Hawaii Corporation
By:/s/ Patrick M. McGuirk
Patrick M. McGuirk
Vice Chair and Chief Administrative Officer



Exhibit 99.1
bohnewsreleaseimage.jpg
Bank of Hawai‘i Corporation First Quarter 2026 Financial Results

•Diluted Earnings Per Common Share of $1.30
•Net Income of $57.4 Million
•Net Interest Margin Increased to 2.74%, a 13 Basis Point Improvement
•Quarterly Cost of Deposits Decreased to 1.26%, a 17 Basis Point Improvement
•Share Repurchases of $15.1 Million

FOR IMMEDIATE RELEASE

HONOLULU, HI (April 20, 2026) -- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $1.30 for the first quarter of 2026, compared with $1.39 during the linked quarter. Net income for the quarter was $57.4 million, down 5.7% from the linked quarter. The return on average common equity for the first quarter of 2026 was 13.90% compared with 15.03% during the linked quarter.

“Bank of Hawai‘i began the year on firm footing,” said Jim Polk, President and CEO. “This performance underscores the strength and resilience of our franchise. Net interest income and net interest margin continued to improve, supported by disciplined balance sheet management and a stable deposit base. Total loans and leases and average noninterest-bearing deposits increased compared to the prior quarter. Credit quality continues to be strong, and we remain focused on expense management. As I step into this role, we are committed to executing our strategy, supporting our customers and communities, and building on our strong, established foundation.”

Financial Highlights
Net interest income for the first quarter of 2026 was $151.0 million, an increase of 3.9% from the linked quarter. The increase was primarily driven by a 22 basis point decline in our interest‑bearing deposit rates following the FOMC interest rate cuts in late 2025, partially offset by a 4 basis point decline in earning asset yields as floating-rate assets repriced down more than the benefit from fixed-rate assets rolling off and being reinvested at higher rates (fixed asset repricing).

Net interest margin was 2.74% in the first quarter of 2026, an increase of 13 basis points from the linked quarter, reflecting the same deposit cost and asset yield dynamics as previously mentioned.

The average yield on total earning assets was 4.03% and the average yield on loans and leases was 4.75% in the first quarter of 2026, down 4 basis points and 6 basis points, respectively, from the linked quarter. As discussed above, the decrease in loan yield from the linked quarter was primarily driven by floating-rate assets repricing to lower current interest rates, partially offset by fixed asset repricing.
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Bank of Hawai‘i Corporation First Quarter 2026 Financial Results     
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The average rate of interest-bearing deposits was 1.72% and the average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.26%, down 22 basis points and 17 basis points, respectively, from the linked quarter. As discussed above, the decreases were primarily due to the repricing down of our interest-bearing deposits following the FOMC interest rate cuts in late 2025. The deposit beta for the downward rate cycle was 36% as of the first quarter of 2026.

Noninterest income was $41.3 million in the first quarter of 2026, a decrease of 6.6% from the linked quarter. Noninterest income in the first quarter of 2026 included a $0.2 million charge related to a Visa Class B share conversion ratio change. Noninterest income in the linked quarter included an $18.1 million gain related to the sale of our merchant services portfolio, a $16.8 million loss on the sale of investments, and a $0.8 million charge related to a Visa Class B share conversion ratio change. Adjusted for these items, noninterest income for the first quarter of 2026 was down 5.1% from the linked quarter. The decrease was primarily due to decreases in other loan fees, which were elevated in the fourth quarter of 2025, as well as lower swap fees and trust and management fees, partially offset by higher BOLI income and annuity and insurance fees.

Noninterest expense was $116.1 million in the first quarter of 2026, an increase of 6.0% from the linked quarter. Noninterest expense in the first quarter included $3.5 million in expenses related to the accelerated vesting of restricted stock awards pursuant to the retirement provision of performance-based restricted stock granted in 2024 and 2025 and $0.7 million in separation expenses. Noninterest expense in the linked quarter included a $1.4 million reduction in our FDIC special assessment charge and a $1.1 million donation to the Bank of Hawai‘i Foundation. Adjusted for these items, noninterest expense for the first quarter of 2026 increased by 1.9% from the linked quarter. The increase was primarily due to higher seasonal payroll expenses, net occupancy, equipment expenses, and professional fees, partially offset by lower FDIC insurance and other expenses.

The effective tax rate for the first quarter of 2026 was 22.91% compared to 21.50% during the linked quarter. The higher effective tax rate in the current quarter as compared to the linked quarter was primarily due to lower benefits from certain tax advantaged investments and an increase in tax expense from discrete items.

Asset Quality

The Company’s overall asset quality remained strong during the first quarter of 2026. Provision for credit losses for the first quarter of 2026 was $1.8 million, down $0.8 million from the linked quarter.

Total non-performing assets were $12.1 million at March 31, 2026, down $2.1 million from December 31, 2025. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.09% at the end of the quarter, a decrease of 1 basis point from the linked quarter.

Net loan and lease charge-offs during the first quarter of 2026 were $1.1 million or 3 basis points annualized of total average loans and leases outstanding. Gross charge-offs of $4.1 million were partially offset by gross recoveries of $3.0 million. Compared to the linked quarter, net loan and lease charge-offs decreased by $3.1 million or 9 basis points annualized on total average loans and leases outstanding.

The allowance for credit losses on loans and leases was $147.0 million at March 31, 2026, an increase of $0.2 million from December 31, 2025. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.04% at the end of the quarter, unchanged from December 31, 2025.

Balance Sheet

Total assets were $23.9 billion at March 31, 2026, a decrease of 1.1% from December 31, 2025. The decrease from December 31, 2025 was primarily due to a reduction in cash and cash equivalents, partially offset by increases in available-for-sale securities and loans and leases.
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Bank of Hawai‘i Corporation First Quarter 2026 Financial Results     
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The investment securities portfolio was $7.9 billion at March 31, 2026, an increase of 1.7% from December 31, 2025. The increase was primarily due to the purchases of available-for-sale investment securities, partially offset by the amortization of the portfolio. The investment securities portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises.

Total loans and leases were $14.2 billion at March 31, 2026, an increase of 0.8% from December 31, 2025. Total commercial loans were $6.2 billion at March 31, 2026, an increase of 2.0% from December 31, 2025. The increase was primarily due to commercial mortgage production. Total consumer loans were $8.0 billion at March 31, 2026, a decrease of 0.1% from December 31, 2025. The decrease was primarily due to amortization and paydowns, partially offset by increased production in the residential mortgage portfolio.

Total deposits were $21.0 billion at March 31, 2026, a decrease of 1.1% from December 31, 2025. Noninterest-bearing deposits made up 27.0% of total deposit balances at March 31, 2026, down from 27.2% at December 31, 2025. Average total deposits were $20.9 billion for the first quarter of 2026, down 0.3% from December 31, 2025.

Capital and Dividends

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

The Tier 1 Capital Ratio was 14.40% at March 31, 2026 compared with 14.49% at December 31, 2025. The decrease from December 31, 2025 was due to an increase in risk-weighted assets and share repurchases, as discussed below, partially offset by retained earnings growth. The Tier 1 Leverage Ratio was 8.62% at March 31, 2026, compared with 8.57% at December 31, 2025. The increase from December 31, 2025 was due to a decline in average assets and an increase in retained earnings.

The Company repurchased 194.1 thousand shares of common stock at a total cost of $15.1 million under the share repurchase program in the first quarter of 2026. Total remaining buyback authority under the share repurchase program was $105.9 million at March 31, 2026.

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 June 12, 2026 to shareholders of record at the close of business on May 29, 2026.

On April 3, 2026, 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 May 1, 2026 to shareholders of record of the preferred stock as of the close of business on April 16, 2026.

Conference Call Information

The Company will review its first 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/BI42ddba51d0fa4b6dacb219e80a369fdb. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, April 20, 2026. The replay will be available on the Company's website, www.boh.com.

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Bank of Hawai‘i Corporation First Quarter 2026 Financial Results     
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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, 2025 which was 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.
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Bank of Hawai‘i Corporation and Subsidiaries
Financial HighlightsTable 1
Three Months Ended
(dollars in thousands, except per share amounts)March 31, 2026December 31, 2025March 31, 2025
For the Period:
Operating Results
Net Interest Income$150,990 $145,374 $125,807 
Provision for Credit Losses1,750 2,500 3,250 
Total Noninterest Income41,332 44,271 44,058 
Total Noninterest Expense116,071 109,518 110,459 
Pre-Provision Net Revenue76,251 80,127 59,406 
Net Income57,432 60,935 43,985 
Net Income Available to Common Shareholders52,163 55,666 38,716 
Basic Earnings Per Common Share1.32 1.40 0.98 
Diluted Earnings Per Common Share1.30 1.39 0.97 
Dividends Declared Per Common Share0.70 0.70 0.70 
Performance Ratios
Return on Average Assets0.97 %1.01 %0.75 %
Return on Average Shareholders' Equity12.47 13.33 10.65 
Return on Average Common Equity13.90 15.03 11.80 
Efficiency Ratio 1
60.35 57.75 65.03 
Net Interest Margin 2
2.74 2.61 2.32 
Dividend Payout Ratio 3
53.03 50.00 71.43 
Average Shareholders' Equity to Average Assets7.81 7.57 7.09 
Average Balances
Average Loans and Leases$14,083,875 $14,013,532 $14,062,173 
Average Assets23,915,334 23,958,401 23,638,068 
Average Deposits20,915,443 20,980,199 20,669,539 
Average Shareholders' Equity1,867,165 1,814,000 1,675,571 
Per Share of Common Stock
Book Value$38.10 $37.92 $34.23 
Tangible Book Value37.31 37.12 33.43 
Market Value
Closing74.25 68.37 68.97 
High80.61 71.85 76.00 
Low67.04 59.36 65.82 
March 31, 2026December 31, 2025March 31, 2025
As of Period End:
Balance Sheet Totals
Loans and Leases$14,192,811$14,082,050$14,115,323
Total Assets23,909,93324,176,36423,885,056
Total Deposits20,957,93021,188,49521,008,217
Other Debt558,150558,176558,250
Total Shareholders' Equity1,854,5631,851,2121,704,935
Asset Quality
Non-Performing Assets$12,090$14,171$17,451
Allowance for Credit Losses - Loans and Leases146,962146,766147,707
Allowance to Loans and Leases Outstanding 4
1.04 %1.04 %1.05 %
Capital Ratios 5
Common Equity Tier 1 Capital Ratio 6
12.06 %12.14 %11.58 %
Tier 1 Capital Ratio14.40 14.49 13.93 
Total Capital Ratio15.44 15.54 14.97 
Tier 1 Leverage Ratio8.62 8.57 8.36 
Total Shareholders' Equity to Total Assets7.76 7.66 7.14 
Tangible Common Equity to Tangible Assets 7
6.19 6.11 5.57 
Tangible Common Equity to Risk-Weighted Assets 7
10.28 10.35 9.28 
Non-Financial Data
Full-Time Equivalent Employees1,866 1,877 1,876 
Branches52 51 50 
ATMs319 320 316 
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 March 31, 2026 are preliminary.
6 Capital Ratio as of December 31, 2025 has 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)March 31, 2026December 31, 2025March 31, 2025
Total Shareholders' Equity$1,854,563$1,851,212$1,704,935
Less: Preferred Stock345,000345,000345,000
Goodwill31,51731,51731,517
Tangible Common Equity$1,478,046$1,474,695$1,328,418
Total Assets$23,909,933$24,176,364$23,885,056
Less: Goodwill31,51731,51731,517
Tangible Assets$23,878,416$24,144,847$23,853,539
Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1, 2
$14,382,622$14,246,238$14,319,932
Total Shareholders' Equity to Total Assets7.76%7.66%7.14%
Tangible Common Equity to Tangible Assets (Non-GAAP)6.19%6.11%5.57%
Tier 1 Capital Ratio 1
14.40%14.49%13.93%
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1
10.28%10.35%9.28%
1Regulatory capital ratios as of March 31, 2026 are preliminary.
2 Capital Ratio as of December 31, 2025 has been updated to reflect final reported ratio.


Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of IncomeTable 3
Three Months Ended
(dollars in thousands, except per share amounts)March 31, 2026December 31, 2025March 31, 2025
Interest Income
Interest and Fees on Loans and Leases$164,469 $168,234 $163,082 
Income on Investment Securities
Available-for-Sale34,575 32,950 24,368 
Held-to-Maturity18,541 18,929 20,291 
Cash and Cash Equivalents3,329 5,936 5,460 
Other1,293 1,245 1,085 
Total Interest Income222,207 227,294 214,286 
Interest Expense
Deposits64,886 75,477 81,692 
Securities Sold Under Agreements to Repurchase486 496 744 
Other Debt5,845 5,947 6,043 
Total Interest Expense71,217 81,920 88,479 
Net Interest Income150,990 145,374 125,807 
Provision for Credit Losses1,750 2,500 3,250 
Net Interest Income After Provision for Credit Losses149,240 142,874 122,557 
Noninterest Income
Trust and Asset Management12,445 12,883 11,741 
Fees, Exchange, and Other Service Charges10,928 12,298 14,437 
Service Charges on Deposit Accounts8,440 8,694 8,259 
Bank-Owned Life Insurance4,147 3,758 3,611 
Annuity and Insurance1,469 1,124 1,555 
Mortgage Banking876 917 988 
Investment Securities Losses, Net(1,272)(18,717)(1,607)
Other4,299 23,314 5,074 
Total Noninterest Income41,332 44,271 44,058 
Noninterest Expense
Salaries and Benefits68,457 61,675 62,884 
Net Occupancy10,782 10,029 10,559 
Net Equipment10,611 10,047 10,192 
Data Processing5,581 5,659 5,267 
Professional Fees4,226 3,682 4,264 
FDIC Insurance2,719 2,378 1,642 
Other13,695 16,048 15,651 
Total Noninterest Expense116,071 109,518 110,459 
Income Before Provision for Income Taxes74,501 77,627 56,156 
Provision for Income Taxes17,069 16,692 12,171 
Net Income$57,432 $60,935 $43,985 
Preferred Stock Dividends5,269 5,269 5,269 
Net Income Available to Common Shareholders$52,163 $55,666 $38,716 
Basic Earnings Per Common Share$1.32 $1.40 $0.98 
Diluted Earnings Per Common Share$1.30 $1.39 $0.97 
Dividends Declared Per Common Share$0.70 $0.70 $0.70 
Basic Weighted Average Common Shares39,568,00039,641,38239,554,834
Diluted Weighted Average Common Shares39,981,35640,003,63539,876,406


Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of Comprehensive IncomeTable 4
Three Months Ended
(dollars in thousands)March 31, 2026December 31, 2025March 31, 2025
Net Income$57,432 $60,935 $43,985 
Other Comprehensive Income (Loss), Net of Tax:
Net Change in Unrealized Gains (Losses) on Investment Securities(3,001)29,367 24,760 
Net Change in Defined Benefit Plans222 2,446 232 
Other Comprehensive Income (Loss)(2,779)31,813 24,992 
Comprehensive Income$54,653 $92,748 $68,977 


Bank of Hawai‘i Corporation and Subsidiaries
Consolidated Statements of ConditionTable 5
(dollars in thousands, except per share amounts)March 31, 2026December 31, 2025March 31, 2025
Assets
Cash and Cash Equivalents$425,080 $946,520 $935,200 
Investment Securities
Available-for-Sale3,722,405 3,510,652 2,887,019 
Held-to-Maturity (Fair Value of $3,549,687; $3,651,966; and $3,823,655)
4,163,261 4,245,681 4,535,108 
Loans Held for Sale3,609 4,369 2,640 
Loans and Leases14,192,811 14,082,050 14,115,323 
Allowance for Credit Losses(146,962)(146,766)(147,707)
Net Loans and Leases14,045,849 13,935,284 13,967,616 
Premises and Equipment, Net215,859 199,747 187,858 
Operating Lease Right-of-Use Assets82,244 83,424 83,577 
Accrued Interest Receivable70,555 69,899 67,706 
Mortgage Servicing Rights17,036 17,455 18,770 
Goodwill31,517 31,517 31,517 
Bank-Owned Life Insurance499,681 499,795 481,260 
Other Assets632,837 632,021 686,785 
Total Assets$23,909,933 $24,176,364 $23,885,056 
Liabilities
Deposits
Noninterest-Bearing Demand$5,653,265 $5,755,371 $5,493,232 
Interest-Bearing Demand3,884,305 3,910,952 3,775,948 
Savings8,683,875 8,741,090 8,700,143 
Time2,736,485 2,781,082 3,038,894 
Total Deposits20,957,930 21,188,495 21,008,217 
Securities Sold Under Agreements to Repurchase50,000 50,000 50,000 
Other Debt558,150 558,176 558,250 
Operating Lease Liabilities91,213 92,402 92,267 
Retirement Benefits Payable25,686 20,139 23,640 
Accrued Interest Payable19,757 22,370 23,261 
Other Liabilities352,634 393,570 424,486 
Total Liabilities22,055,370 22,325,152 22,180,121 
Shareholders’ Equity
Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding)180,000 180,000 180,000 
Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding)165,000 165,000 165,000 
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: March 31, 2026 - 59,000,929 / 39,620,563; December 31, 2025 - 58,780,253 / 39,725,698; and March 31, 2025 - 58,765,864 / 39,734,304)
590 587 586 
Capital Surplus672,584 664,781 651,374 
Accumulated Other Comprehensive Loss(247,217)(244,438)(318,397)
Retained Earnings2,229,539 2,205,707 2,144,326 
Treasury Stock, at Cost (Shares: March 31, 2026 - 19,380,366; December 31, 2025 - 19,054,555; and March 31, 2025 - 19,031,560)
(1,145,933)(1,120,425)(1,117,954)
Total Shareholders’ Equity1,854,563 1,851,212 1,704,935 
Total Liabilities and Shareholders’ Equity$23,909,933 $24,176,364 $23,885,056 


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, 2025180,000$180,000 165,000$165,000 39,725,698$587 $664,781 $(244,438)$2,205,707 $(1,120,425)$1,851,212 
Net Income–– –– –– – – 57,432 – 57,432 
Other Comprehensive Loss–– –– –– – (2,779)– – (2,779)
Share-Based Compensation–– –– –– 7,459 – – – 7,459 
Common Stock Issued Under Purchase and Equity Compensation Plans–– –– 237,3993 344 – – 881 1,228 
Common Stock Repurchased Under Share Repurchase Program– – –– (194,096)– – – – (15,109)(15,109)
Equity Compensation Plan Common Stock Repurchases– – –– (148,438)– – – – (11,280)(11,280)
Cash Dividends Declared Common Stock ($0.70 per share)
–– –– –– – – (28,331)– (28,331)
Cash Dividends Declared Preferred Stock–– –– –– – – (5,269)– (5,269)
Balance as of March 31, 2026180,000$180,000 165,000$165,000 39,620,563$590 $672,584 $(247,217)$2,229,539 $(1,145,933)$1,854,563 
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–– –– –– – – 43,985 – 43,985 
Other Comprehensive Income–– –– –– – 24,992 – – 24,992 
Share-Based Compensation–– –– –– 3,680 – – – 3,680 
Common Stock Issued Under Purchase and Equity Compensation Plans–– –– 19,4771 291 – – 1,023 1,315 
Equity Compensation Plan Common Stock Repurchases–– –– (47,428)– – – – (3,314)(3,314)
Cash Dividends Declared Common Stock ($0.70 per share)
–– –– –– – – (28,228)– (28,228)
Cash Dividends Declared Preferred Stock–– –– –– – – (5,269)– (5,269)
Balance as of March 31, 2025180,000$180,000 165,000$165,000 39,734,304$586 $651,374 $(318,397)$2,144,326 $(1,117,954)$1,704,935 


Bank of Hawai‘i Corporation and Subsidiaries
Average Balances and Interest Rates - Taxable-Equivalent Basis 1
Table 7
Three Months Ended March 31, 2026Three Months Ended December 31, 2025Three Months Ended March 31, 2025
(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$372.5 $3.3 3.58 %$604.5 $6.0 3.84 %$500.0 $5.5 4.37 %
Investment Securities
Available-for-Sale
Taxable3,598.1 34.2 3.82 3,363.4 32.5 3.86 2,790.3 24.1 3.47 
Non-Taxable32.1 0.4 5.07 32.0 0.5 5.80 21.3 0.3 5.68 
Held-to-Maturity
Taxable4,175.4 18.4 1.76 4,265.7 18.8 1.76 4,548.6 20.2 1.77 
Non-Taxable33.5 0.2 2.10 33.7 0.2 2.10 34.1 0.2 2.09 
Total Investment Securities7,839.1 53.2 2.72 7,694.8 52.0 2.70 7,394.3 44.8 2.43 
Loans Held for Sale3.6 0.1 5.22 2.4 0.0 5.51 2.3 0.0 6.06 
Loans and Leases 3
Commercial Mortgage4,220.6 54.1 5.19 4,124.5 55.2 5.31 4,015.2 52.5 5.30 
Commercial and Industrial1,583.4 18.7 4.79 1,590.0 19.6 4.90 1,703.7 21.3 5.06 
Construction215.7 3.4 6.46 265.5 4.6 6.89 338.5 6.0 7.22 
Commercial Lease Financing86.9 0.9 4.29 89.7 0.9 4.19 91.1 0.9 3.83 
Residential Mortgage4,781.9 47.8 4.00 4,719.8 47.5 4.03 4,616.7 44.8 3.88 
Home Equity2,103.1 23.6 4.55 2,122.1 24.3 4.54 2,154.4 22.5 4.23 
Automobile684.6 9.4 5.57 692.7 9.6 5.49 752.6 9.3 5.02 
Other407.7 7.8 7.76 409.2 7.9 7.64 390.0 7.1 7.41 
Total Loans and Leases14,083.9 165.7 4.75 14,013.5 169.6 4.81 14,062.2 164.4 4.72 
Other81.9 1.3 6.31 82.2 1.2 6.06 65.1 1.1 6.67 
Total Earning Assets22,381.0 223.6 4.03 22,397.4 228.8 4.07 22,023.9 215.8 3.95 
Non-Earning Assets1,534.3 1,561.0 1,614.2 
Total Assets$23,915.3 $23,958.4 $23,638.1 
Interest-Bearing Liabilities
Interest-Bearing Deposits
Demand$3,839.0 $6.6 0.69 %$3,697.9 $7.3 0.78 %$3,773.4 $7.1 0.76 %
Savings8,668.4 38.7 1.81 8,738.2 44.3 2.01 8,544.5 47.1 2.23 
Time2,753.6 19.6 2.89 2,974.0 23.9 3.18 3,037.3 27.5 3.67 
Total Interest-Bearing Deposits15,261.0 64.9 1.72 15,410.1 75.5 1.94 15,355.2 81.7 2.16 
Securities Sold Under Agreements to Repurchase50.0 0.5 3.89 50.0 0.5 3.89 76.7 0.7 3.88 
Other Debt560.9 5.8 4.23 558.2 5.9 4.23 578.2 6.1 4.24 
Total Interest-Bearing Liabilities15,871.9 71.2 1.82 16,018.3 81.9 2.03 16,010.1 88.5 2.24 
Net Interest Income$152.4 $146.9 $127.3 
Interest Rate Spread2.21 %2.04 %1.71 %
Net Interest Margin2.74 %2.61 %2.32 %
Noninterest-Bearing Demand Deposits5,654.4 5,570.1 5,314.3 
Other Liabilities521.8 556.0 638.1 
Shareholders' Equity1,867.2 1,814.0 1,675.6 
Total Liabilities and Shareholders' Equity$23,915.3 $23,958.4 $23,638.1 
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 $1.4 million, $1.6 million, and $1.5 million for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.
3Non-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 March 31, 2026
Compared to December 31, 2025
(dollars in millions)
Volume 1
Rate 1
Total
Change in Interest Income:
Cash and Cash Equivalents$(2.2)$(0.4)$(2.6)
Investment Securities
Available-for-Sale
Taxable2.1 (0.4)1.7 
Non-Taxable— (0.1)(0.1)
Held-to-Maturity
Taxable(0.4)0.0 (0.4)
Non-Taxable0.0 — 0.0 
Total Investment Securities1.7 (0.5)1.2 
Loans Held for Sale0.0 0.0 0.0 
Loans and Leases
Commercial Mortgage0.6 (1.8)(1.2)
Commercial and Industrial(0.1)(0.8)(0.9)
Construction(0.9)(0.3)(1.2)
Commercial Lease Financing0.0 0.0 0.0 
Residential Mortgage0.6 (0.3)0.3 
Home Equity(0.5)(0.1)(0.6)
Automobile(0.2)0.0 (0.2)
Other(0.1)0.0 (0.1)
Total Loans and Leases(0.6)(3.3)(3.9)
Other0.0 0.0 0.0 
Total Change in Interest Income(1.1)(4.2)(5.3)
Change in Interest Expense:
Interest-Bearing Deposits
Demand0.2 (0.9)(0.7)
Savings(0.4)(5.2)(5.6)
Time(1.9)(2.4)(4.3)
Total Interest-Bearing Deposits(2.1)(8.5)(10.6)
Securities Sold Under Agreements to Repurchase— 0.0 0.0 
Other Debt(0.1)0.0 (0.1)
Total Change in Interest Expense(2.2)(8.5)(10.7)
Change in Net Interest Income$1.1 $4.3 $5.4 
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 March 31, 2026
Compared to March 31, 2025
(dollars in millions)
Volume 1
Rate 1
Total
Change in Interest Income:
Cash and Cash Equivalents$(1.2)$(0.9)$(2.1)
Investment Securities
Available-for-Sale
Taxable7.5 2.6 10.1 
Non-Taxable0.1 0.0 0.1 
Held-to-Maturity
Taxable(1.6)(0.1)(1.7)
Non-Taxable0.0 — 0.0 
Total Investment Securities6.0 2.5 8.5 
Loans Held for Sale0.0 0.0 0.0 
Loans and Leases
Commercial Mortgage2.7 (1.2)1.5 
Commercial and Industrial(1.5)(1.1)(2.6)
Construction(2.0)(0.6)(2.6)
Commercial Lease Financing0.0 0.1 0.1 
Residential Mortgage1.6 1.4 3.0 
Home Equity(0.5)1.6 1.1 
Automobile(0.9)1.0 0.1 
Other0.3 0.4 0.7 
Total Loans and Leases(0.3)1.6 1.3 
Other0.4 (0.3)0.1 
Total Change in Interest Income4.9 2.9 7.8 
Change in Interest Expense:
Interest-Bearing Deposits
Demand0.2 (0.7)(0.5)
Savings0.6 (9.0)(8.4)
Time(2.4)(5.5)(7.9)
Total Interest-Bearing Deposits(1.6)(15.2)(16.8)
Securities Sold Under Agreements to Repurchase(0.3)0.0 (0.3)
Other Debt(0.2)0.0 (0.2)
Total Change in Interest Expense(2.1)(15.2)(17.3)
Change in Net Interest Income$7.0 $18.1 $25.1 
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
Salaries and BenefitsTable 9
Three Months Ended
(dollars in thousands)March 31, 2026December 31, 2025March 31, 2025
Salaries$38,990 $39,915 $38,242 
Share-Based Compensation7,282 4,379 3,501 
Incentive Compensation6,083 4,535 5,573 
Payroll Taxes5,321 2,740 4,766 
Retirement and Other Benefits4,597 4,378 5,061 
Medical, Dental, and Life Insurance4,222 3,916 4,537 
Commission Expense
1,213 1,670 1,123 
Separation Expense
749 142 81 
Total Salaries and Benefits$68,457 $61,675 $62,884 


Bank of Hawai‘i Corporation and Subsidiaries
Loan and Lease Portfolio BalancesTable 10
(dollars in thousands)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Commercial
Commercial Mortgage$4,341,448 $4,205,791 $4,040,711 $4,038,956 $4,038,287 
Commercial and Industrial1,575,207 1,584,245 1,581,232 1,597,560 1,703,290 
Construction204,993 208,584 380,944 374,768 363,716 
Lease Financing84,651 88,303 92,213 92,842 92,456 
Total Commercial6,206,299 6,086,923 6,095,100 6,104,126 6,197,749 
Consumer
Residential Mortgage4,800,256 4,775,502 4,685,214 4,637,014 4,630,876 
Home Equity2,095,521 2,114,809 2,129,599 2,139,025 2,144,955 
Automobile680,570 690,376 699,244 715,688 740,390 
Other410,165 414,440 412,422 406,325 401,353 
Total Consumer7,986,512 7,995,127 7,926,479 7,898,052 7,917,574 
Total Loans and Leases$14,192,811 $14,082,050 $14,021,579 $14,002,178 $14,115,323 


Deposits
(dollars in thousands)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Consumer$10,530,223 $10,466,617 $10,393,932 $10,429,271 $10,522,627 
Commercial8,340,279 8,597,265 8,348,396 8,243,898 8,411,838 
Public and Other2,087,428 2,124,613 2,338,341 2,125,745 2,073,752 
Total Deposits$20,957,930 $21,188,495 $21,080,669 $20,798,914 $21,008,217 


Average Deposits
Three Months Ended
(dollars in thousands)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Consumer$10,461,004 $10,373,200 $10,387,715 $10,435,867 $10,408,747 
Commercial8,431,519 8,478,592 8,504,078 8,316,893 8,318,182 
Public and Other2,022,920 2,128,407 2,176,493 1,946,933 1,942,610 
Total Deposits$20,915,443 $20,980,199 $21,068,286 $20,699,693 $20,669,539 


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)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial
Commercial Mortgage$- $2,085 $2,498 $2,566 $2,195 
Commercial and Industrial1,860 1,940 3,506 3,744 3,451 
Total Commercial1,860 4,025 6,004 6,310 5,646 
Consumer
Residential Mortgage5,410 5,382 5,628 5,842 4,686 
Home Equity4,525 4,469 5,107 5,387 5,759 
Total Consumer9,935 9,851 10,735 11,229 10,445 
Total Non-Accrual Loans and Leases11,795 13,876 16,739 17,539 16,091 
Foreclosed Real Estate295 295 125 342 1,360 
Total Non-Performing Assets$12,090 $14,171 $16,864 $17,881 $17,451 
Accruing Loans and Leases Past Due 90 Days or More
Consumer
Residential Mortgage $10,733 $8,834 $7,456 $9,070 $3,895 
Home Equity 1,556 2,152 2,765 1,867 2,228 
Automobile672 520 525 680 486 
Other764 753 578 630 943 
Total Consumer 13,725 12,259 11,324 12,247 7,552 
Total Accruing Loans and Leases Past Due 90 Days or More$13,725 $12,259 $11,324 $12,247 $7,552 
Total Loans and Leases$14,192,811 $14,082,050 $14,021,579 $14,002,178 $14,115,323 
Ratio of Non-Accrual Loans and Leases to Total Loans and Leases0.08 %0.10 %0.12 %0.13 %0.11 %
Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate0.09 %0.10 %0.12 %0.13 %0.12 %
Ratio of Non-Performing Assets to Total Assets0.05 %0.06 %0.07 %0.08 %0.07 %
Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate0.03 %0.07 %0.10 %0.10 %0.09 %
Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate0.13 %0.13 %0.14 %0.15 %0.15 %
Ratio of Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More to Total Loans and Leases and Foreclosed Real Estate0.18 %0.19 %0.20 %0.22 %0.18 %
Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter$14,171 $16,864 $17,881 $17,451 $19,300 
Additions 1
1,010 2,608 959 3,522 2,209 
Reductions
Payments(2,744)(2,631)(804)(1,424)(1,212)
Return to Accrual Status(341)(1,217)(321)(574)(244)
Sales of Foreclosed Real Estate- (120)(216)(1,040)(1,492)
Charge-offs / Write-downs 1
(6)(1,333)(635)(54)(1,110)
Total Reductions(3,091)(5,301)(1,976)(3,092)(4,058)
Balance at End of Quarter$12,090 $14,171 $16,864 $17,881 $17,451 
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 Ended
(dollars in thousands)March 31, 2026December 31, 2025March 31, 2025
Balance at Beginning of Period$148,403 $150,051 $150,649 
Loans and Leases Charged-Off
Commercial
Commercial and Industrial(230)(1,331)(1,399)
Consumer
Residential Mortgage(15)— — 
Home Equity(6)(165)(75)
Automobile(1,417)(1,654)(1,751)
Other(2,394)(2,192)(2,484)
Total Loans and Leases Charged-Off(4,062)(5,342)(5,709)
Recoveries on Loans and Leases Previously Charged-Off
Commercial
Commercial Mortgage
1,617 — — 
Commercial and Industrial53 92 77 
Consumer
Residential Mortgage11 11 11 
Home Equity137 88 128 
Automobile579 517 633 
Other590 486 457 
Total Recoveries on Loans and Leases
2,987 1,194 1,306 
Net Charged-Off - Loans and Leases(1,075)(4,148)(4,403)
Provision for Credit Losses:
Loans and Leases1,271 2,136 3,582 
Unfunded Commitments479 364 (332)
Total Provision for Credit Losses1,750 2,500 3,250 
Balance at End of Period$149,078 $148,403 $149,496 
Components
Allowance for Credit Losses - Loans and Leases$146,962 $146,766 $147,707 
Reserve for Unfunded Commitments2,116 1,637 1,789 
Total Reserve for Credit Losses$149,078 $148,403 $149,496 
Average Loans and Leases Outstanding$14,083,875 $14,013,532 $14,062,173 
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized)0.03 %0.12 %0.13 %
Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1
1.04 %1.04 %1.05 %
1The numerator comprises the Allowance for Credit Losses - Loans and Leases.


Bank of Hawai‘i Corporation and Subsidiaries
Selected Quarterly Financial Data
Table 13
Three Months Ended
(dollars in thousands, except per share amounts)March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Quarterly Operating Results
Interest Income
Interest and Fees on Loans and Leases$164,469 $168,234 $169,411 $166,779 $163,082 
Income on Investment Securities
Available-for-Sale34,575 32,950 29,702 27,007 24,368 
Held-to-Maturity18,541 18,929 19,332 19,835 20,291 
Cash and Cash Equivalents3,329 5,936 8,195 3,817 5,460 
Other1,293 1,245 1,068 1,097 1,085 
Total Interest Income222,207 227,294 227,708 218,535 214,286 
Interest Expense
Deposits64,886 75,477 84,590 82,476 81,692 
Securities Sold Under Agreements to Repurchase486 496 496 491 744 
Other Debt5,845 5,947 5,947 5,885 6,043 
Total Interest Expense71,217 81,920 91,033 88,852 88,479 
Net Interest Income150,990 145,374 136,675 129,683 125,807 
Provision for Credit Losses1,750 2,500 2,500 3,250 3,250 
Net Interest Income After Provision for Credit Losses149,240 142,874 134,175 126,433 122,557 
Noninterest Income
Trust and Asset Management12,445 12,883 12,598 12,097 11,741 
Fees, Exchange, and Other Service Charges10,928 12,298 15,219 14,383 14,437 
Service Charges on Deposit Accounts8,440 8,694 8,510 8,119 8,259 
Bank-Owned Life Insurance4,147 3,758 3,681 3,714 3,611 
Annuity and Insurance1,469 1,124 1,095 1,437 1,555 
Mortgage Banking876 917 906 849 988 
Investment Securities Losses, Net(1,272)(18,717)(1,945)(1,126)(1,607)
Other4,299 23,314 5,902 5,322 5,074 
Total Noninterest Income41,332 44,271 45,966 44,795 44,058 
Noninterest Expense
Salaries and Benefits68,457 61,675 62,905 61,308 62,884 
Net Occupancy10,782 10,029 10,932 10,499 10,559 
Net Equipment10,611 10,047 10,285 9,977 10,192 
Data Processing5,581 5,659 5,603 5,456 5,267 
Professional Fees4,226 3,682 4,022 4,263 4,264 
FDIC Insurance2,719 2,378 3,508 3,640 1,642 
Other13,695 16,048 15,132 15,640 15,651 
Total Noninterest Expense116,071 109,518 112,387 110,783 110,459 
Income Before Provision for Income Taxes74,501 77,627 67,754 60,445 56,156 
Provision for Income Taxes17,069 16,692 14,409 12,808 12,171 
Net Income$57,432 $60,935 $53,345 $47,637 $43,985 
Preferred Stock Dividends5,269 5,269 5,269 5,269 5,269 
Net Income Available to Common Shareholders$52,163 $55,666 $48,076 $42,368 $38,716 
Basic Earnings Per Common Share$1.32 $1.40 $1.21 $1.07 $0.98 
Diluted Earnings Per Common Share$1.30 $1.39 $1.20 $1.06 $0.97 
Balance Sheet Totals
Loans and Leases$14,192,811 $14,082,050 $14,021,579 $14,002,178 $14,115,323 
Total Assets23,909,933 24,176,364 24,014,609 23,709,752 23,885,056 
Total Deposits20,957,930 21,188,495 21,080,669 20,798,914 21,008,217 
Total Shareholders' Equity1,854,563 1,851,212 1,791,183 1,743,107 1,704,935 
Performance Ratios
Return on Average Assets0.97 %1.01 %0.88 %0.81 %0.75 %
Return on Average Shareholders' Equity12.47 13.33 12.10 11.21 10.65 
Return on Average Common Equity13.90 15.03 13.59 12.50 11.80 
Efficiency Ratio 1
60.35 57.75 61.53 63.49 65.03 
Net Interest Margin 2
2.74 2.61 2.46 2.39 2.32 
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 Trends
Table 14
Year Ended
(dollars in millions, jobs in thousands, 1-year percentage change)December 31, 2025December 31, 2024
Hawaii Economic Trends
General Excise and Use Tax Revenue 1
889.14.1 %4,773.46.2 %4,495.00.5 %
Jobs 2
672.7672.9669.0
January 31,
December 31,
202620252024
Unemployment, seasonally adjusted 2
 Statewide2.6 %2.6 %3.0 %
 Honolulu County2.6 2.5 2.9 
 Hawaii County2.9 3.1 3.5 
 Maui County2.9 2.9 3.6 
 Kauai County2.0 2.7 3.0 
February 28,
December 31,
(1-year percentage change, except months of inventory)2026202520242023
Housing Trends (Single Family Oahu) 3
Median Home Price0.9 %3.5 %4.8 %(5.0)%
Home Sales Volume (units)2.2 %3.5 %9.1 %(26.3)%
Months of Inventory2.8 2.6 2.9 2.8 
(in thousands, except percentage change)Monthly Visitor Arrivals,
Not Seasonally Adjusted		Percentage Change
from Previous Year
Tourism 4
February 28, 2026760.8 2.9 %
January 31, 2026858.7 11.1 
December 31, 2025850.3 (4.4)
November 30, 2025728.1 (3.7)
October 31, 2025727.2 (1.2)
September 30, 2025674.9 (2.2)
August 31, 2025806.8 (2.6)
July 31, 2025870.8 (4.6)
June 30, 2025855.7 (1.9)
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, 2024889.6 5.0 
November 30, 2024755.8 4.8 
October 31, 2024736.1 5.1 
September 30, 2024690.2 6.5 
August 31, 2024828.3 8.1 
July 31, 2024912.8 (1.9)
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 
1Source: Hawaii Department of Business, Economic Development & Tourism. Based on the latest complete available data for February 2026.
2Source: U.S. Bureau of Labor Statistics. Based on the latest complete available data for January 2026. Prior period numbers most recently reported may differ from previously reported figures.
3Source: Honolulu Board of Realtors.
4Source: Hawaii Tourism Authority. Prior period numbers most recently reported may differ from previously reported figures.

Bank of Hawai‘i Corporation first quarter 2026 financial report April 20, 2026

 

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 first quarter 2026 highlights broad & deep market penetration strong balance she t performance earnings highlights strong credit credit remains pristine • total loans and leases increased by 3.1% annualized • average noninter st-bearing demand increased by $84 million, leading to positive deposit mix shift • tier 1 capital ratio of 14.40% and total capital ratio of 15.44% • total common equity to tangible assets increased to 6.19% from 6.11% • shares repurchased $15.1 million • $1.30 diluted earnings per common share • $57.4 million net income • net interest margin expanded for the eighth consecutive quarter to 2.74%, an increase of 13 bps • average cost of total deposits decreased by 17 bps to 1.26% • return on average common equity 13.90% • 0.03% net charge-off rate • 0.09% non-performing assets • 81% of loan portfolio real estate-secured with wtd avg LTV of 51% • allowance for credit losses to loan and leases outstanding 1.04% note: changes are in comparison to linked quarter unless specified otherwise 3

 

leader in a unique deposit market the leader in a unique deposit market with five local competitors holding 95% of the bank deposit market, with consistent long-term growth BOH 28.3% FHB 30.5% ASB 18.2% CPF 14.4% TBNK 4.2% other 4.4% 2005 BOH 34.1% FHB 32.5%ASB 14.4% CPF 11.7% TBNK 2.9% other 4.4% 2024 BOH 34.5% FHB 32.1%ASB 14.2% CPF 11.6% TBNK 3.0% other 4.6% 2025 BOH 6.1% FHB 1.6% CPF -2.8% ASB -3.9% TBNK -1.2% -8% -6% -4% -2% 0% 2% 4% 6% 8% c h a n g e i n m a rk e t s h a re s in c e 2 0 0 5 4source: FDIC Annual Summary of Deposits as of June 30, 2020, June 30, 2024 and June 30, 2025. TBNK acquired by HOPE in April 2025. numbers may not add up due to rounding

 

cost of funds interest-bearing deposits 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% 2.14% 1.94% 1.72% 0.13% 0.20% 0.47% 0.93% 1.53% 2.11% 2.44% 2.73% 2.91% 2.99% 3.05% 2.84% 2.66% 2.63% 2.64% 2.46% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX) 5

 

cost of funds total deposits 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% 1.59% 1.43% 1.26% 0.08% 0.12% 0.31% 0.64% 1.07% 1.49% 1.84% 2.09% 2.21% 2.27% 2.33% 2.17% 2.04% 1.99% 1.97% 1.87% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX) 6

 

ongoing NIM expansion 2.11% 0.04% 0.03% 0.01% 0.13% 0.07% 0.07% 0.15% 0.13% 2.74% 2.00% 2.10% 2.20% 2.30% 2.40% 2.50% 2.60% 2.70% 2.80% 1Q24 NIM 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 4Q25 vs 3Q25 1Q26 vs 4Q25 1Q26 NIM 7

 

credit performance

 

lending philosophy Hawaiʻi 93% U.S. mainland 3% West Pacific 4% we lend in our core markets to long-standing relationships note: as of March 31, 2026 9

 

residential mortgage $4.8 home equity $2.1 automobile $0.7 other consumer $0.4 consumer portfolio asset type % total consumer % total loans WALTV wtd avg FICO residential mortgage 60% 34% 49% 803 home equity 26% 15% 46% 788 real estate secured 86% 49% 48% 798 automobile 9% 5% n/a 729 other consumer 5% 3% n/a 760 total consumer 100% 56% n/a 790 $8.0B 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 56% of total loans 10

 

C&I $1.6 CRE $4.3 construction $0.2 leasing $0.1 commercial portfolio residential mortgage home equity $6.2B commercial asset type % total comml % total loans WALTV commercial real estate 70% 31% 55% construction 3% 1% 58% real estate secured 73% 32% 55% commercial & industrial 25% 11% n/a leasing 1% 1% n/a total commercial 100% 44% n/a note: $ in billions; numbers may not add up due to rounding 44% of total loans 11

 

vacancy inventory (sq ft) 4Q25 4Q24 10 yr avg 10 yr CAGR industrial 1.35% 0.93% 1.60% 0.63% office 12.59% 12.73% 12.41% -0.94% retail 5.61% 5.71% 6.13% 0.29% multi-family 3.88% 4.02% 4.65% 0.45% Oahu market vacancies and inventory stable real estate market note: 10-year average and 10-yr CAGR for inventory are based on years 2016 through 2025 source: Colliers (industrial, office, retail) and CoStar (multi-family) 12

 

multi-family 8.6% industrial 5.7% retail 5.1% lodging 4.6% office 2.3% other 4.3% commercial real estate (CRE) residential mortgage home equity 31% of total loans or $4.3 billion asset type WALTV avg. exposure ($MMs) multi-family 57% 3.9 industrial 55% 2.7 retail 54% 4.5 lodging 50% 14.7 office 58% 1.7 other 55% 4.5 total CRE 55% 3.8 note: % in chart above is % of total loans 13

 

CRE scheduled maturities 14.8% 10.1% 10.1% 4.0% 14.1% 46.9% 0 500 1,000 1,500 2,000 2,500 2026 2027 2028 2029 2030 2031+ $ m ill io n s modest near-term maturities 14

 

62.1% 26.6% 8.9% 1.9% 0.02% 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 n s CRE loan balances by LTV LTV > 80% - $106MM, 2.4% of CRE 15

 

AOAO 3.5% real estate investors 1.2% auto dealers 1.0% renewable energy 0.7% lodging 0.8% educational svcs 0.6% transportation 0.5% wholesale trade 0.5% other 2.3% commercial & industrial residential mortgage home equity 11% of total loans or $1.6 billion industry % leveraged avg. exposure ($MMs) AOAO 0% 1.8 RE investors 0% 1.3 auto dealers 17% 4.4 renewable energy 0% 2.7 lodging 32% 5.6 educational svcs 0% 2.0 transportation 0% 1.4 wholesale trade 29% 0.5 other 7% 0.3 total C&I 6% 0.7 16 note: % in chart above is % of total loans

 

credit quality 0.13% 0.12% 0.03% $0 $0 $0 $0 $0 $0 $0 $0 $0 1Q25 4Q25 1Q26 net charge-offs NCOs/average loans 0.12% 0.10% 0.09% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 1Q25 4Q25 1Q26 non-performing assets NPAs/period-end loans plus OREO 1 84% of total criticized is real estate secured with 53% wtd avg LTV 0.30% 0.36% 0.40% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1Q25 4Q25 1Q26 delinquencies delinquencies/period-end loans 2.08% 2.12% 2.12% 1Q25 4Q25 1Q26 criticized criticized/period-end loans 1 17

 

financial update

 

NII and NIM trends eighth consecutive quarter of NII and NIM expansion $ in millions $125 $133 $142 $141 $136 $124 $121 $116 $114 $115 $118 $120 $126 $130 $137 $145 $151 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% 2.46% 2.61% 2.74% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 NII NIM 19

 

cashflow repricing total quarterly impact to NII from cashflows repricing: +$2.6 million note: +$2.6 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 4.8%, equivalent to average yield at the time of purchase of the securities purchased in 1Q26; excludes cashflows from securities repricing; numbers may not add up due to rounding 4.8% 6.3% 1.5% 4.9% 5.6% 0.7% 2.6% 4.8% 2.2% 4.0% 5.6% 1.6% 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 1Q26 maturities/prepayments reinvestment opportunities fixed loans adjustable loans inv. portfolio total $301 $109 $233 $643 $- $100 $200 $300 $400 $500 $600 $700 1Q26 maturities/prepayments fixed loans adjustable loans inv. portfolio total 20 $ in millions

 

deposit mix shift and repricing quarterly NII impact from deposit mix shift and repricing in 1Q26: +$0.6 million $(749) $(967) $(800) $(627) $(488) $(448) $(315) $(105) $(37) $(59) $(104) $100 $94 $(1,000) $(800) $(600) $(400) $(200) $- $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 3Q25 vs 2Q25 4Q25 vs 3Q25 1Q26 vs 4Q25 QoQ change in average NIBD and low yield interest-bearing deposit balances note: low yield interest-bearing deposits include accounts yielding interest of 10 bps or less 21 $ in millions

 

NIBD expansion $ in millions 22 ($456) ($399) ($176) ($146) ($129) ($192) ($78) $9 $8 $51 $33 $171 $84 ($500) ($400) ($300) ($200) ($100) $0 $100 $200 $300 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 3Q25 vs 2Q25 4Q25 vs 3Q25 1Q26 vs 4Q25 QoQ change in average noninterest-bearing deposits

 

trend in cost of deposits 23 0% 16% 28% 29% 28% 31% 36% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 downward beta on total deposits 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% 1.59% 1.43% 1.26% 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% 2.14% 1.94% 1.72% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 total deposit cost interest-bearing deposit cost

 

24 time deposit maturity schedule $1.4B 51% $0.7B 24% $0.3B 12% $0.3B 13% 2.91% 2.68% 2.93% 2.46% 0% 10% 20% 30% 40% 50% 60% 2Q26 3Q26 4Q26 2027 and beyond % o f to ta l ti m e d e p o s it s s c h e d u le d t o m a tu re balance as % of total time deposits weighted average rate 51% of time deposits set to reprice in 3 months and 75% in 6 months note: as of March 31, 2026

 

25 optimizing balance sheet $1.0 $1.7 $1.7 $1.7 $1.5 $1.3 $1.3 $1.5 $1.1 $1.1 $0.9 $1.0 $1.3 $1.3 $1.3 $1.3 $0.7 $0.7 $0.7 $0.3 $0.4 $0.3 $- $0.2 $2.0 $3.0 $3.0 $3.0 $2.8 $2.0 $2.0 $2.2 $1.4 $1.5 $1.2 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $ i n b ill io n s active swap composition fixed rate loans AFS securities 72% 67% 61% 55% 55% 54% 53% 57% 56% 55% 57% 57% 59% 27% 27% 28% 29% 29% 29% 30% 32% 33% 33% 34% 33% 35% 0% 1% 9% 13% 13% 14% 12% 9% 9% 10% 6% 7% 5% 1% 5% 2% 3% 3% 3% 4% 2% 3% 2% 3% 3% 1% 0% 20% 40% 60% 80% 100% 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 9/30/25 12/31/25 3/31/26 earning asset composition fixed float/adjustable swaps fed funds sold 100% 56% 44% 67% 81% 93% 100% 100% 44% 56% 33% 19% 7% $(166) $236 $233 $241 $276 $223 $308 $373 $(200) $(100) $- $100 $200 $300 $400 $500 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 $ i n m ill io n s securities purchases / sales fixed floating note: swaps in ‘earning asset composition’ and ‘swap composition’ does not include $400 million of forward swaps

 

noninterest income & expense $ in millions $44.1 $44.3 $41.3 $0 $10 $20 $30 $40 $50 1Q25 4Q25 1Q26 $112.6 $3.5 $110.5 $109.5 $116.1 $0 $20 $40 $60 $80 $100 $120 1Q25 4Q25 1Q26 non-recurring compensation related charge 26note: numbers may not add up due to rounding; “non-recurring compensation related charge” refers to the accelerated vesting pursuant to the retirement provision of performance-based restricted stock granted in 2024 and 2025 reported noninterest income reported noninterest expense

 

financial summary $ in millions, except per share amounts 1Q 2026 4Q 2025 1Q 2025 ∆ 4Q 2025 ∆ 1Q 2025 net interest income $ 151.0 $ 145.4 $ 125.8 $ 5.6 $ 25.2 noninterest income 41.3 44.3 44.1 (2.9) (2.7) total revenue 192.3 189.6 169.9 2.7 22.5 noninterest expense 116.1 109.5 110.5 6.6 5.6 operating income 76.3 80.1 59.4 (3.9) 16.8 credit provision 1.8 2.5 3.3 (0.8) (1.5) income taxes 17.1 16.7 12.2 0.4 4.9 net income $ 57.4 $ 60.9 $ 44.0 $ (3.5) $ 13.4 net income available to common $ 52.2 $ 55.7 $ 38.7 $ (3.5) $ 13.4 diluted EPS $ 1.30 $ 1.39 $ 0.97 $ (0.09) $ 0.33 return on assets 0.97 % 1.01 % 0.75 % (0.04) % 0.22 % return on common equity 13.90 15.03 11.80 (1.13) 2.10 net interest margin 2.74 2.61 2.32 0.13 0.42 end of period balances investment portfolio $ 7,886 $ 7,756 $ 7,422 1.7 % 6.2 % loans and leases 14,193 14,082 14,115 0.8 0.5 total deposits 20,958 21,188 21,008 (1.1) (0.2) shareholders' equity 1,855 1,851 1,705 0.2 8.8 note: 1Q26 financials are preliminary; numbers may not add up due to rounding 27

 

capital note: 1Q26 regulatory capital ratios are preliminary 6.50% 6.50% 6.50% 8.00% 8.00% 8.00% 10.00% 10.00% 10.00% 5.00% 5.00% 5.00% 5.08% 5.64% 5.56% 5.93% 6.49% 6.40% 4.97% 5.54% 5.44% 3.36% 3.57% 3.62% 11.58% 12.14% 12.06% 13.93% 14.49%14.40% 14.97% 15.54%15.44% 8.36% 8.57% 8.62% 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 CET1 tier 1 capital total capital tier 1 leverage well-capitalized excess 13.6% BOHC strong capital 58.9% 60.2% 76.6% BOHC 4Q25 BOHC 1Q26 KRX median 4Q25 1 RWA / total assets 28

 

✔ NII and NIM increased for the eighth consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital takeaways 29

 

Q & A

 

appendix

 

note: as of March 31, 2026, 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 $10.5B $7.9B readily available liquidity 32

 

insured/collateralized deposits uninsured/ uncollateralized 37% uninsured/ collateralized 9% insured 53% note: as of March 31, 2026; numbers may not add up due to rounding 33

 

0 5 10 15 20 25 30 35 40 45 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 s q u a re f e e t (m ill io n s ) industrial 0 5 10 15 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 s q u a re f e e t (m ill io n s ) office 0 5 10 15 20 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 s q u a re f e e t (m ill io n s ) retail 0 5 10 15 20 25 30 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 u n it s ( th o u s a n d s ) multi-family Oahu market inventory 34 CRE supply constraints 10-yr CAGR: 0.6% 10-yr CAGR: -0.9% 10-yr CAGR: 0.3% 10-yr CAGR: 0.4% note: 10-yr CAGR for inventory are based on years 2016 through 2025 source: Colliers (industrial, office, retail) and CoStar (multi-family)

 

CRE office 2% of total loans • 58% wtd avg LTV • $1.7MM average exposure • 17% CBD (downtown Honolulu) - 63% wtd avg LTV - 68% with repayment guaranties • 35% maturing prior to 2028 • 2.6% criticized highlights LTV ≤ 60% 44% LTV > 60% to 70% 38% LTV > 70% to 80% 6% LTV > 80% 12% LTV distribution $331MM 35 29.9% 4.9% 11.5% 2.3% 12.4% 39.0% - 50 100 150 200 250 300 2026 2027 2028 2029 2030 2031+ $ m ill io n s scheduled maturity

 

CRE multi-family 9% of total loans • 57% wtd avg LTV • $3.9MM average exposure • 100.0% LIHTC, affordable or market • 16% maturing prior to 2028 • 3.4% criticized highlights LTV ≤ 60% 54% LTV > 60% to 70% 29% LTV > 70% to 80% 12% LTV > 80% 5% LTV distribution 11.7% 4.6% 3.8% 2.3% 8.9% 68.7% - 300 600 900 2026 2027 2028 2029 2030 2031+ $ m ill io n s scheduled maturity $1.2B 36

 

single family homes condominiums YTD-26 YTD-25 Δ YTD-25 YTD-26 YTD-25 Δ YTD-25 median sales price (000s) $1,180 $1,150 2.6% $510 $510 0.0% closed sales 631 569 10.9% 939 974 -3.6% median days on market 23 20 3 days 49 43 6 days stable real estate prices Oahu market indicators – YTD 2026 as of March 2026 source: Honolulu Board of Realtors, compiled from MLS data 37

 

2.4% 2.3% 2.3% 4.3% 1 Q 2 0 2 Q 2 0 3 Q 2 0 4 Q 2 0 1 Q 2 1 2 Q 2 1 3 Q 2 1 4 Q 2 1 1 Q 2 2 2 Q 2 2 3 Q 2 2 4 Q 2 2 1 Q 2 3 2 Q 2 3 3 Q 2 3 4 Q 2 3 1 Q 2 4 2 Q 2 4 3 Q 2 4 4 Q 2 4 1 Q 2 5 2 Q 2 5 3 Q 2 5 4 Q 2 5 1 Q 2 6 2 Q 2 6 3 Q 2 6 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 national unemployment in 4Q25 reflects average of Nov 2025 and Dec 2025 rate 38

 

39 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) 40source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) $0 $30 $60 $90 $120 $150 $180 $210 $240 $270 $300 $330 $360

 

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