First Hawaiian, Inc. · NASDAQ:FHB
First Hawaiian — Q2 2025 Earnings Presentation
19 slides from First Hawaiian's earnings presentation, Jul 25, 2025
Slide 1: 2nd Quarter 2025 Earnings Call
2nd Quarter 2025 Earnings Call July 25, 2025 0
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation 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. Th
Slide 3: Q2 2025 Financial Highlights
Q2 2025 FINANCIAL HIGHLIGHTS1 Q2 2025 Q1 2025 • Net income: $73.2 mm Net Income ($mm) $73.2 $59.2 • Cost of deposits: 1.39% Diluted EPS $0.58 $0.47 • Total cost of funds: 1.42% Net Interest Margin 3.11% 3.08% • Net interest margin increased 3 bp to 3.11% Efficiency Ratio 57.2% 58.2% ROA / ROATA2 1.2
Slide 4: Q2 2025 Balance Sheet Highlights
Q2 2025 BALANCE SHEET HIGHLIGHTS1 $ in millions 6/30/25 3/31/25 Assets Cash and Cash $ 1,399.0 $ 1,314.6 Equivalents2 Investment Securities - 1,891.7 1,858.4 • Total loans and leases increased $58.8 mm AFS Investment Securities - 3,658.8 3,724.9 HTM • Total deposits increased $15.6 mm Loans and Leas
Slide 5: Loans Increased $58.8 MM, or 0.4%
LOANS INCREASED $58.8 MM, OR 0.4% Total Loans and Leases 6/30/25 vs 3/31/25 Net Changes ($ billions) ($ millions) 14.4 14.3 14.4 Leasing 0.4 0.4 0.4 Home Equity 1.2 1.1 1.2 Consumer 1.0 1.0 1.0 C&I 109 (4.8%) C&I 2.2 2.3 2.4 CRE 44 (1.0%) Home Equity 17 (1.5%) Residential 4.2 4.1 4.1 Consumer 13 (1.
Slide 6: Total Deposits Increased $16 MM
TOTAL DEPOSITS INCREASED $16 MM TOTAL COST OF DEPOSITS DOWN 4 BPS Total Deposits Deposit Composition ($ billions) ($ billions) 0.9 20.3 20.2 20.2 Time 3.3 3.4 3.4 9.2 10.1 Money Market 4.1 3.9 3.8 Savings Retail Commercial Public 6.1 6.1 6.2 Q2 Highlights • $16 mm, or 0.1%, increase in total deposit
Slide 7: $3.1 MM Increase in Net Interest Income
$3.1 MM INCREASE IN NET INT INCOME 3 BP INCREASE IN NIM 210.0 5.00% 205.0 Net Interest Income and Net Interest Margin 4.90% Q1 ‘25 – Q2 ‘25 NIM Walk 200.0 4.80% 195.0 4.70% 190.0 ($ millions) 4.60% 185.0 4.50% 180.0 4.40% 175.0 4.30% 0.04% 3.11% 170.0 163.6 4.20% 165.0 160.5 4.10% 160.0 152.9 4.00%
Slide 8: Noninterest Income and Expense
NONINTEREST INCOME AND EXPENSE Noninterest Income Noninterest Expense ($ millions) ($ millions) 122.1 123.6 124.9 54.0 51.8 50.5 59.2% 58.2% 57.2% Q2 24 Q1 25 Q2 25 Q2 24 Q1 25 Q2 25 Nonint Expense Efficiency Ratio 7
Slide 9: Asset Quality Remains Strong
ASSET QUALITY REMAINS STRONG ($ millions) ($ millions) ▪ QTD NCO Rate - Annualized QTD NCO/Avg Loans and Leases ▪ Includes OREO and 90+ days past due accruing loans ($ millions) ($ millions) ▪ TLL - Total Loans and Leases ▪ 30-89 days past due is comprised of accruing and non-accruing loans 8
Slide 10: Allowance for Credit Loss
ALLOWANCE FOR CREDIT LOSS RESERVE LEVELS CONTINUE TO PROVIDE FOR UNCERTAINTY • The Asset ACL / Total Loans and Leases is at 1.17%, unchanged from Q1. Rollforward of the On-Balance Sheet Allowance for Credit Losses Home ($ in 000’s) C&I CRE Const Lease Mortgage Equity Consumer Total 3/31/2025 17,992
Slide 11: Questions
QUESTIONS rN First Hawaiian, Inc.
Slide 12: Appendix
> AP Pp EN D IX fA First Hawaiian, Inc. iil
Slide 13: Commercial Real Estate
COMMERCIAL REAL ESTATE (As of 06/30/25) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 729 16.5% 59.4% 2.3% Hotel 467 10.6% 51.8% 0.0% Retail 892 20.2% 60.4% 1.9% Multi-family 873 19.8% 56.1% 14.1% Industrial 635 14.4% 57.9% 5.0% Dealer Related 447 10.1% 66.3% 0
Slide 14: Commercial & Industrial
COMMERCIAL & INDUSTRIAL (As of 06/30/25) Balances Industry % of Balances % Criticized ($ mm) Auto Dealers 895 37.8% 1.6% Retail - 0.0% 0.0% Hospitality/Hotel 100 4.2% 0.0% Food Service 40 1.7% 2.3% Transportation 70 2.9% 0.0% Other 1,265 53.4% 7.2% Total 2,370 100.0% 4.5% Industries deemed to exhibi
Slide 15: Construction
CONSTRUCTION (As of 06/30/25) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 21 2.4% 46.1% 0.0% Hotel 46 5.2% 50.4% 0.0% Retail 27 3.0% 58.8% 0.0% Multi-family 491 55.5% 54.8% 0.0% Industrial 150 17.0% 54.3% 0.0% Dealer Related 68 7.7% 78.7% 0.0% Other 81 9.2% 5
Slide 16: Summary Income Statement
SUMMARY INCOME STATEMENT Quarter ended ($ in millions except per share data) 6/30/25 3/31/25 6/30/24 Net interest income $ 163.6 $ 160.5 $ 152.9 Provision for credit losses 4.5 10.5 1.8 Noninterest income 54.0 50.5 51.8 Noninterest expense 124.9 123.6 122.1 Pre-tax income 88.1 76.9 80.7 Tax expense
Slide 17: Selected Balance Sheet Items
SELECTED BALANCE SHEET ITEMS As of ($ in millions except per share data) 6/30/25 3/31/25 6/30/24 Selected Assets Investment securities – AFS $ 1,891.7 $ 1,858.4 $ 2,068.0 Investment securities – HTM 3,658.8 3,724.9 3,917.2 Loans and leases 14,351.9 14,293.0 14,359.9 Total assets 23,837.1 23,745.0 23
Slide 18: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS 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 ne
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION For the Three Months Ended For the Six Months Ended June 30, March 31, June 30, June 30, (dollars in thousands) 2025 2025 2024 2025 2024 Income Statement Data: Net income $ 73,247 $ 59,248 $ 61,921 $ 132,495 $ 116,141 Average total stockholders' equity $ 2,663,850 $ 2