Bank Of Hawaii Corporation · NYSE:BOH
Bank Of Hawaii — Q1 2026 Earnings Presentation
40 slides from Bank Of Hawaii's earnings presentation, Apr 20, 2026
Slide 1: First Quarter 2026 Financial Report
Bank of Hawai‘i Corporation first quarter 2026 financial report April 20, 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: First Quarter 2026 Highlights
first quarter 2026 highlights • $1.30 diluted earnings per common share • $57.4 million net income • net interest margin expanded for the eighth consecutive quarter to earnings highlights 2.74%, an increase of 13 bps • average cost of total deposits decreased by 17 bps to 1.26% • return on average c
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% 2.16% 2.16% 2.14% 2.11% 1.95% 1.94% 1.72% 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 3Q24 4Q24 1Q2
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% 1.74% 1.77% 1.67% 1.60% 1.60% 1.59% 1.49% 1.40% 1.43% 1.26% 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 1Q25 2Q25 3Q25
Slide 7: Ongoing NIM Expansion
ongoing NIM expansion 2.80% 0.13% 2.74% 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 1Q26 NIM 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 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 93% U.S. West mainland Pacific 3% 4% note: as of March 31, 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 60% 34% 49% 803 home equity 26% 15% 46% 788 $8.0B residential consumer real estate secured 86% 49% 48% 798 mortgage $4.8 automobile automobile 9% 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 70% 31% 55% mortgage $6.2B construction 3% 1% 58% commercial real estate secured 73% 32% 55% commercial & industrial 25% 11% n/a leasing 1% 1% n/a C&I home $1.6 total comm
Slide 12: Stable Real Estate Market
stable real estate market Oahu market vacancies and inventory 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% note: 10-year average and 10-yr CAGR for in
Slide 13: Commercial Real Estate (CRE)
commercial real estate (CRE) 31% of total loans or $4.3 billion avg. retail exposure 5.1% asset type WALTV ($MMs) lodging multi-family 57% 3.9 4.6% residential industrial industrial mortgage 55% 2.7 5.7% office retail 54% 4.5 2.3% lodging 50% 14.7 office 58% 1.7 other 4.3% multi-family other 55% 4.5
Slide 14: CRE Scheduled Maturities
CRE scheduled maturities modest near-term maturities 2,500 46.9% 2,000 1,500 $ millions 1,000 14.8% 14.1% 500 10.1% 10.1% 4.0% 0 2026 2027 2028 2029 2030 2031+ 14
Slide 15: CRE Loan Balances by LTV
CRE loan balances by LTV LTV > 80% - $106MM, 2.4% of CRE 62.1% 2,500 2,000 $ millions 1,500 26.6% 1,000 500 8.9% 1.9% 0.02% 0.5% 0 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% 15
Slide 16: Commercial & Industrial
commercial & industrial 11% of total loans or $1.6 billion avg. exposure industry % leveraged ($MMs) auto dealers AOAO 0% 1.8 real estate investors 1.0% renewable 1.2% energy 0.7% RE investors 0% 1.3 lodging auto dealers 17% 4.4 0.8% residential mortgage renewable energy 0% 2.7 educational svcs 0.6%
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% 0.13% 0.12% 0.12% $0 0.10% 0.1 5% $0 0.1 0% 0.09% $0 0.03% 0.0 5% $0 0.0 0% $0 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 $0 NCOs/average loans NPAs/period-end loans plus OREO $0 $0 1.4 0% delinquencies criticized 1.2 0% 1
Slide 18: Financial Update
4h Bank of Hawai'i Corporation | financial update
Slide 19: NII and NIM Trends
NII and NIM trends $ in millions eighth consecutive quarter of NII and NIM expansion $151 $145 $142 $141 $136 $137 $133 2.74% $130 $125 $124 $126 2.61% 2.60% 2.60% $121 $120 $116 $115 $118 $114 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 4Q22 1Q23 2Q2
Slide 20: Cashflow Repricing
cashflow repricing $ in millions total quarterly impact to NII from cashflows repricing: +$2.6 million maturities/prepayments maturities/prepayments reinvestment opportunities $700 8.0% $643 $600 7.0% 6.3% 6.0% 5.6% 5.6% $500 5.0% 4.8% 4.9% 4.8% $400 4.0% 4.0% $301 $300 $233 3.0% 2.6% 2.2% $200 2.0%
Slide 21: Deposit Mix Shift and Repricing
deposit mix shift and repricing $ in millions quarterly NII impact from deposit mix shift and repricing in 1Q26: +$0.6 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 1Q
Slide 22: NIBD Expansion
NIBD expansion $ in millions QoQ change in average noninterest-bearing deposits 1Q23 vs 2Q23 vs 3Q23 vs 4Q23 vs 1Q24 vs 2Q24 vs 3Q24 vs 4Q24 vs 1Q25 vs 2Q25 vs 3Q25 vs 4Q25 vs 1Q26 vs 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $300 $200 $171 $100 $84 $51 $33 $9 $8 $0 ($100) ($7
Slide 23: Trend in Cost of Deposits
trend in cost of deposits downward beta on total deposits 2.52% 2.46% 36% 2.39% 2.37% 2.30% 2.16% 2.16% 2.14% 31% 1.95% 1.94% 29% 1.87% 28% 28% 1.81% 1.74% 1.77% 1.72% 1.67% 1.60% 1.60% 1.59% 1.54% 1.40% 1.43% 1.26% 1.09% 16% 1.08% 0.75% 0.69% 0.46% 0.30% 0.20% 0.07%0.11% 0.05% 0.07% 0% 1Q22 2Q22 3Q
Slide 24: Time Deposit Maturity Schedule
time deposit maturity schedule 51% of time deposits set to reprice in 3 months and 75% in 6 months 60% 2.91% 2.93% % of total time deposits scheduled to mature 50% 2.68% 2.46% 40% 30% $1.4B 51% 20% $0.7B 10% 24% $0.3B $0.3B 12% 13% 0% 2Q26 3Q26 4Q26 2027 and beyond balance as % of total time deposit
Slide 25: 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% 9% 10% 6% 7% 5% 13% 13% 14% 9% 9% 12% 27% 80% 27% 28% 34% 33% 35% 32% 33% 33% 29% 29% 29% 30% 60% 40% 72% 67% 61% 55% 57% 56% 55% 57% 57% 59% 55% 54% 53% 20% 0% 3/31/23 6/30/23 9/30/23 12/31/23 3/31/
Slide 26: Noninterest Income & Expense
noninterest income & expense $ in millions reported noninterest income reported noninterest expense $120 $116.1 $50 $110.5 $109.5 $3.5 $44.1 $44.3 $41.3 $100 $40 $80 $30 $60 $112.6 $20 $40 $10 $20 $0 $0 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 non-recurring compensation related charge note: numbers may not add
Slide 27: Financial Summary
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 operatin
Slide 28: Capital
capital strong capital 15.54%15.44% 14.97% 1 14.49%14.40% 13.6% 76.6% 13.93% 12.14% 12.06% 5.54% 5.44% 4.97% 11.58% 60.2% 58.9% 6.49% 6.40% 5.93% 5.64% 8.62% 8.36% 8.57% 5.56% 5.08% 3.36% 3.57% 3.62% 10.00% 10.00% 10.00% 8.00% 8.00% 8.00% 6.50% 6.50% 6.50% 5.00% 5.00% 5.00% 1Q25 4Q25 1Q26 1Q25 4Q25
Slide 29: Takeaways
takeaways ✔ 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 29
Slide 30: Q&A
4h Bank of Hawai'i Corporation | Q&A
Slide 31: Appendix
4h Bank of Hawai'i Corporation | appendix
Slide 32: 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 $10.5B cash securities available FHLB $7.9B uninsured/ FRB uncollateralized deposits note: as of March 31, 2026, cash includes fed funds sol
Slide 33: Insured/Collateralized Deposits
insured/collateralized deposits uninsured/ uncollateralized 37% insured 53% uninsured/ collateralized 9% note: as of March 31, 2026; numbers may not add up due to rounding 33
Slide 34: 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 retai
Slide 35: CRE Office
CRE office 2% of total loans scheduled maturity 300 LTV distribution 250 200 LTV > 60% to $ millions 70% 38% 150 39.0% 29.9% 100 11.5% 12.4% 50 4.9% 2.3% LTV > 70% - $331MM to 80% 6% 2026 2027 2028 2029 2030 2031+ highlights LTV > 80% 12% LTV ≤ 60% • 58% wtd avg LTV 44% • $1.7MM average exposure • 1
Slide 36: CRE Multi-Family
CRE multi-family 9% of total loans scheduled maturity 900 68.7% LTV distribution 600 $ millions LTV > 60% to 70% 29% 300 11.7% 8.9% 4.6% 3.8% 2.3% LTV > 70% to - $1.2B 80% 12% 2026 2027 2028 2029 2030 2031+ highlights LTV ≤ 60% 54% • 57% wtd avg LTV LTV > 80% • $3.9MM average exposure 5% • 100.0% LI
Slide 37: Stable Real Estate Prices
stable real estate prices Oahu market indicators – YTD 2026 as of March 2026 single family homes condominiums YTD-26 YTD-25 Δ YTD-25 YTD-26 YTD-25 Δ YTD-25 2.6% 0.0% median sales $1,180 $1,150 $510 $510 price (000s) 10.9% closed sales 631 569 939 974 -3.6% 3 days 6 days median days 23 20 49 43 on ma
Slide 38: Unemployment
unemployment experience & forecast 4.3% 2.4% 2.3% 2.3% 4Q20 2Q25 1Q20 2Q20 3Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment source for Hawai‘i unemployment: Univ
Slide 39: Visitor Arrivals
visitor arrivals monthly by market, indexed to January 2017 200 180 160 140 120 100 80 60 40 20 - total US visitor Japan other 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