Bank Of Hawaii Corporation · NYSE:BOH
Bank Of Hawaii — Q2 2026 Earnings Presentation
40 slides from Bank Of Hawaii's earnings presentation, Jul 27, 2026
Slide 1: Second quarter 2026 financial report
Bank of Hawai‘i Corporation second quarter 2026 financial report July 27, 2026
Slide 2: Disclosure: forward-looking statements
disclosure forward-looking statements this presentation, and other statements made by the Company in connection with it, may contain forward-looking statements concerning, among other things, forecasts of our financial results and condition, expectations for our operations and business prospects, an
Slide 3: Second quarter 2026 highlights
second quarter 2026 highlights • $1.47 diluted earnings per common share • $63.8 million net income • $43.3 million noninterest income earnings highlights • net interest margin expanded for the ninth consecutive quarter to 2.78% • 1.27% cost of deposits • 15.47% return on average common equity stron
Slide 4: Leader in a unique deposit market
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 8% other BOH 4.6% BOH TBNK 34.5% 6% 6.1% 3.0% CPF change in market share since 2005 11.6% 4% FHB ASB 32.1% 14.2% 2% FHB 1.6% 0%
Slide 5: Cost of funds: interest-bearing deposits
cost of funds interest-bearing deposits 3.05% 2.99% 2.91% 2.84% 2.73% 2.66% 2.63% 2.64% 2.52% 2.44% 2.46% 2.46% 2.39% 2.37% 2.30% 2.33% 2.16% 2.16% 2.14% 2.11% 1.95% 1.94% 1.72% 1.73% 1.53%1.54% 1.09% 0.93% 0.69% 0.47% 0.30% 0.20% 0.13% 0.07% 0.11% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3
Slide 6: Cost of funds: total deposits
cost of funds total deposits 2.33% 2.27% 2.21% 2.17% 2.09% 2.04% 1.99% 1.97% 1.84% 1.87% 1.87% 1.81% 1.78% 1.74% 1.77% 1.67% 1.60% 1.60% 1.59% 1.49% 1.43% 1.40% 1.26% 1.27% 1.07%1.08% 0.75% 0.64% 0.46% 0.31% 0.20% 0.12% 0.08% 0.05% 0.07% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q
Slide 7: Ongoing NIM expansion
ongoing NIM expansion 2.90% 2.80% 0.04% 2.78% 0.13% 2.70% 0.15% 2.60% 2.50% 0.07% 0.07% 2.40% 0.13% 2.30% 0.03% 0.01% 2.20% 0.04% 2.11% 2.10% 2.00% 1Q24 NIM 2Q24 vs 3Q24 vs 4Q24 vs 1Q25 vs 2Q25 vs 3Q25 vs 4Q25 vs 1Q26 vs 2Q26 vs 2Q26 NIM 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 7
Slide 8: Credit performance
4h Bank of Hawai'i Corporation | credit performance
Slide 9: Lending philosophy
lending philosophy we lend in our core markets to long-standing relationships Hawaiʻi 94% U.S. West mainland Pacific 2% 4% note: as of June 30, 2026 9
Slide 10: Consumer portfolio
consumer portfolio 56% of total loans wtd % total % total avg home equity asset type consumer loans WALTV FICO $2.1 residential mortgage 61% 34% 50% 803 $8.0B home equity 26% 15% 46% 788 residential consumer mortgage real estate secured 86% n/a 49% 799 $4.9 automobile automobile 8% 5% n/a 729 $0.7 o
Slide 11: Commercial portfolio
commercial portfolio 44% of total loans CRE $4.3 % total % total asset type comml loans WALTV residential commercial real estate 69% 30% 55% mortgage $6.2B construction 3% 1% 56% commercial real estate secured 72% n/a 55% commercial & industrial 27% 12% n/a leasing 1% 1% n/a C&I home $1.7 total comm
Slide 12: Stable real estate market
stable real estate market Oahu market vacancies and inventory vacancy inventory (sq ft) 1Q26 1Q25 10 yr avg 10 yr CAGR industrial 1.40% 1.21% 1.60% 0.63% office 12.40% 12.77% 12.41% -0.94% retail 6.01% 5.44% 6.13% 0.29% multi-family 3.63% 4.16% 4.64% 0.45% note: 10-year average and 10-yr CAGR for in
Slide 13: Commercial real estate (CRE)
commercial real estate (CRE) 30% of total loans or $4.3 billion avg. retail exposure 5.3% asset type WALTV ($MMs) lodging multi-family 57% 3.8 4.4% residential industrial mortgage 56% 2.8 industrial 5.8% office retail 54% 4.5 2.2% lodging 54% 14.8 office 57% 1.6 other 4.3% other 52% 4.4 multi-family
Slide 14: CRE scheduled maturities
CRE scheduled maturities modest near-term maturities 2,500 47.7% 2,000 1,500 $ millions 1,000 14.5% 13.3% 10.7% 500 9.6% 4.3% 0 2026 2027 2028 2029 2030 2031+ 14
Slide 15: CRE loan balances by LTV
CRE loan balances by LTV LTV > 80% - $121 million, 2.8% of CRE 63.0% 2,500 2,000 $ millions 1,500 26.2% 1,000 500 8.0% 1.9% 0.9% 0.02% 0 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% 15
Slide 16: Commercial & industrial
commercial & industrial 12% of total loans or $1.7 billion avg. exposure industry % leveraged ($MMs) auto dealers 1.0% AOAO 0% 1.9 real estate investors lodging 1.5% 0.8% renewable energy RE investors 0% 1.2 0.7% auto dealers residential 16% 4.7 mortgage lodging 30% 5.5 transportation 0.7% renewable
Slide 17: Credit quality
credit quality net charge-offs non-performing assets 0.4 0% 0.3 5% 0.3 0% 0.2 5% $0 0.2 0% $0 0.12% 0.13% 0.12% 0.10% 0.10% 0.1 5% $0 0.07% 0.07% 0.1 0% 0.09% 0.08% $0 0.03% 0.0 5% $0 0.0 0% $0 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 $0 NCOs/average loans NPAs/period-end loans plus OREO $0
Slide 18: Financial update
4h Bank of Hawai'i Corporation | financial update
Slide 19: NII and NIM trends
NII and NIM trends $ in millions ninth consecutive quarter of NII and NIM expansion $151 $154 $145 $142 $141 $136 $137 $133 $130 2.78% $125 $124 $121 $126 2.74% $120 2.60% 2.60% $116 $114 $115 $118 2.61% 2.47% 2.47% 2.46% 2.39% 2.34% 2.32% 2.22% 2.18% 2.19% 2.15% 2.13% 2.13% 2.11% 1Q22 2Q22 3Q22 4Q2
Slide 20: Cashflow repricing
cashflow repricing $ in millions total quarterly impact to NII from cashflows repricing: +$2.8 million maturities/prepayments maturities/prepayments reinvestment opportunities $800 8.0% $704 $700 7.0% 6.4% 5.7% 5.9% $600 6.0% 5.2% 5.0% 5.1% $500 5.0% 4.2% $400 4.0% $323 3.0% $300 $269 3.0% 2.2% $200
Slide 21: Deposit mix shift and repricing
deposit mix shift and repricing $ in millions quarterly NII impact from deposit mix shift and repricing in 2Q26: $(0.7) million QoQ change in average NIBD and low yield interest-bearing deposit balances 1Q23 vs 2Q23 vs 3Q23 vs 4Q23 vs 1Q24 vs 2Q24 vs 3Q24 vs 4Q24 vs 1Q25 vs 2Q25 vs 3Q25 vs 4Q25 vs 1
Slide 22: NII impact from 25 bps Fed Funds hike
NII impact from 25 bps Fed Funds hike immediate NII accretion with modest headwinds developing over time rate sensitive earning assets balances rate sensitive deposit balances $6.6B $10.2B $7.0 $6.2 $4.0 $6.0 $3.5 $5.0 $3.0 $ in billions $4.0 $ in billions $2.0 $3.0 $2.7 $1.4 $1.4 $2.0 $1.0 $1.3 $1.
Slide 23: Trend in cost of deposits
trend in cost of deposits downward beta on total deposits 2.52% 2.46% 36.1% 35.5% 2.39% 2.37% 2.30% 2.16%2.16% 2.14% 31.0% 1.95% 1.94% 28.1% 28.6% 28.1% 1.87% 1.81% 1.74% 1.77% 1.72% 1.73% 1.67% 1.60%1.60% 1.59% 1.54% 1.40% 1.43% 1.26% 1.27% 1.09% 16.3% 1.08% 0.75% 0.69% 0.46% 0.30% 0.20% 0.07%0.11%
Slide 24: Optimizing balance sheet
optimizing balance sheet earning asset composition 1% 2% 1% 100% 0% 5% 3% 3% 3% 4% 2% 3% 2% 3% 3% 1% 1% 9% 10% 6% 7% 5% 6% 13% 13% 14% 9% 9% 12% 27% 80% 27% 28% 34% 33% 35% 35% 32% 33% 33% 29% 29% 29% 30% 60% 40% 72% 67% 61% 55% 57% 56% 55% 57% 57% 59% 58% 55% 54% 53% 20% 0% 3/31/23 6/30/23 9/30/23
Slide 25: Noninterest income & expense
noninterest income & expense $ in millions reported noninterest income reported noninterest expense $120 $116.1 $50 $110.8 $3.5 $111.2 $44.8 $43.3 $41.3 $100 $40 $80 $30 $60 $112.6 $20 $40 $10 $20 $0 $0 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 non-recurring compensation related charge note: numbers may not add
Slide 26: Financial summary
financial summary $ in millions, except per share amounts 2Q 2026 1Q 2026 2Q 2025 ∆ 1Q 2026 ∆ 2Q 2025 net interest income $ 153.6 $ 151.0 $ 129.7 $ 2.6 $ 23.9 noninterest income 43.3 41.3 44.8 2.0 (1.5) total revenue 196.9 192.3 174.5 4.6 22.4 noninterest expense 111.2 116.1 110.8 (4.9) 0.4 operatin
Slide 27: Capital
capital strong capital 76.1% 15.54% 15.44%15.48% 1 14.49%14.40%14.45% 13.6% 60.2% 60.6% 12.14% 12.06% 12.12% 5.54% 5.44% 5.48% 6.49% 6.40% 6.45% 5.64% 5.56% 5.62% 8.57% 8.62% 8.70% 3.57% 3.62% 3.70% 10.00% 10.00% 10.00% 8.00% 8.00% 8.00% 6.50% 6.50% 6.50% 5.00% 5.00% 5.00% 4Q25 1Q26 2Q26 4Q25 1Q26 2
Slide 28: Takeaways
takeaways ✔ NII and NIM increased for the ninth consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital 28
Slide 29: Q&A
4h Bank of Hawai'i Corporation | Q&A
Slide 30: Appendix
4h Bank of Hawai'i Corporation | appendix
Slide 31: Readily available liquidity
readily available liquidity Bank of Hawai‘i carries substantial liquidity lines and equivalents for both day-to-day operational and liquidity backstop purposes $10.6B cash securities available FHLB $7.6B uninsured/ FRB uncollateralized deposits note: as of June 30, 2026, cash includes fed funds sold
Slide 32: Insured/collateralized deposits
insured/collateralized deposits uninsured/ uncollateralized 36% insured 53% uninsured/ collateralized 10% note: as of June 30, 2026; numbers may not add up due to rounding 32
Slide 33: CRE supply constraints
CRE supply constraints Oahu market inventory 45 industrial 10-yr CAGR: 0.6% office 10-yr CAGR: -0.9% 15 40 35 square feet (millions) square feet (millions) 30 10 25 20 15 5 10 5 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q26 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q2
Slide 34: CRE office
CRE office 2% of total loans scheduled maturity 300 LTV distribution 250 200 $ millions LTV > 60% to 150 41.4% 70% 35% 100 22.7% 17.1% 50 11.5% 5.0% 2.4% - $316MM 2026 2027 2028 2029 2030 2031+ LTV > 70% to 80% highlights LTV ≤ 60% 6% 53% LTV > 80% • 57% wtd avg LTV 6% • $1.6MM average exposure • 18
Slide 35: CRE multi-family
CRE multi-family 8% of total loans scheduled maturity 900 69.6% LTV distribution 600 $ millions LTV > 60% to 70% 31% 300 11.4% 9.2% 3.6% 3.8% 2.4% LTV > 70% to - $1.2B 80% 11% 2026 2027 2028 2029 2030 2031+ highlights LTV ≤ 60% 52% • 57% wtd avg LTV LTV > 80% • $3.8MM average exposure 6% • 100.0% LI
Slide 36: Stable real estate prices
stable real estate prices Oahu market indicators – YTD 2026 as of June 2026 single family homes condominiums YTD-26 YTD-25 Δ YTD-25 YTD-26 YTD-25 Δ YTD-25 2.6% 1.5% median sales $1,180 $1,150 $515 $507 price (000s) 3.9% closed sales 1,386 1,334 2,053 2,101 -2.3% 2 days median days 18 22 43 41 on mar
Slide 37: Unemployment
unemployment experience & forecast 4.3% 2.5% 2.5% 2.5% 4Q20 4Q22 4Q24 4Q26 1Q20 2Q20 3Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment source for Hawai‘i unemployment:
Slide 38: Visitor arrivals
visitor arrivals units in persons 700,000 650,000 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - May-19 May-20 May-21 May-22 May-23 May-24 May-25 May-26 US visitor Japan other source: Hawaii Department of Business, Economic Development, and Tourism (
Slide 39: Visitor spend
visitor spend $ in millions $2,500 $2,250 $2,000 $1,750 $1,500 $1,250 $1,000 $750 $500 $250 $0 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) 39
Slide 40: Revenue per available room
revenue per available room revenue per available room (RevPAR) $360 $330 $300 $270 $240 $210 $180 $150 $120 $90 $60 $30 $0 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) 40