First Hawaiian, Inc. · NASDAQ:FHB
First Hawaiian — Q1 2026 Earnings Presentation
20 slides from First Hawaiian's earnings presentation, Apr 24, 2026
Slide 1: 1st Quarter 2026 Earnings Call
1st Quarter 2026 Earnings Call April 24, 2026
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: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights 1 Q1 2026 Q4 2025 Net Income ($mm) $67.8 $69.9 • Net income: $67.8 mm Diluted EPS $0.55 $0.56 • Cost of deposits: 1.22% Net Interest Margin 3.19% 3.21% • Net interest margin declined 2 bp to 3.19% Efficiency Ratio 57.8% 55.1% • Strong credit quality. Recorded $5.0 mm pro
Slide 4: Q1 2026 Balance Sheet Highlights
Q1 2026 Balance Sheet Highlights1 $ in millions 3/31/26 12/31/25 Assets Cash and Cash $ 1,719.1 $ 1,477.8 Equivalents2 Investment Securities - AFS 2,080.0 2,076.2 • Total loans and leases increased $128.3 mm Investment Securities - 3,480.0 3,533.1 • Total deposits increased $261.7 mm HTM Loans and L
Slide 5: Loans Increased $128.3 mm, or 3.6% Annualized
Loans Increased $128.3 mm, or 3.6% Annualized Total Loans and Leases 3/31/26 vs 12/31/25 Net Changes ($ billions) ($ millions) 14.3 14.3 14.4 Leasing 0.4 0.4 0.4 Home Equity 1.2 CRE 125 1.1 1.2 Consumer 1.0 1.0 1.0 C&I 71 C&I 2.3 2.2 2.2 Consumer 4 Leases 2 Residential 4.1 4.1 4.1 (2) Home Equity (3
Slide 6: Total Deposits Up $262 MM, Cost of Deposits Down 7 bp
Total Deposits Up $262 MM Cost of Deposits Down 7 bp Total Deposits Deposit Composition ($ billions) ($ billions) 20.8 1.1 20.2 20.5 Time 3.4 3.4 3.4 9.1 10.6 Money 3.9 4.3 4.3 Market Savings 6.1 6.6 Retail Commercial Public 6.3 Q1 Highlights • $262 mm increase in total deposits Demand 6.9 6.5 6.5 o
Slide 7: $2.8 mm Decrease in Net Interest Income, 2 bp Decline in NIM
$2.8 mm Decrease in Net Interest Income 2 bp Decline in NIM 210.0 5.00% 205.0 Net Interest Income and Net Interest Margin 4.90% Q4 ‘25 – Q1 ‘26 NIM Walk 200.0 4.80% 195.0 4.70% 190.0 ($ millions) 4.60% 185.0 4.50% 180.0 4.40% 175.0 170.3 167.5 4.30% 170.0 4.20% 165.0 160.5 4.10% 160.0 4.00% 155.0 3.
Slide 8: Noninterest Income and Expense
Noninterest Income and Expense Noninterest Income Noninterest Expense ($ millions) ($ millions) 125.1 127.9 123.6 55.6 52.8 50.5 58.2% 55.1% 57.8% Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 Nonint Expense Efficiency Ratio 7
Slide 9: Asset Quality Remains Strong
Asset Quality Remains Strong Allowance for Credit Non-performing Assets Ratio Losses & Coverage Ratio ($ millions) 169 0.31% 0.30% NPAs and 90+ 168 Allowance for 168 0.26% days past due 167 credit losses to 0.23% to total loans, 165 total loans and 0.17% including leases and leases OREO 1.18% 1.17%
Slide 10: 2026 Outlook
2026 Outlook (As of 4/24/26) Outlook / Comments Loans Unchanged: Full year loan growth at 3% - 4% Updated: Full year NIM outlook approximately 3.22% - 3.23% Net Interest Margin • Q2 NIM expected to be up 2 – 3 bps from Q1 • Assumes no rate cuts in 2026 Noninterest Income Unchanged: Full year noninte
Slide 11: Questions
r Aa\ First Hawaiian, Inc. Questions
Slide 12: Appendix
Appendix Ae) First Hawaiian, Inc.
Slide 13: Allowance for Credit Losses
Allowance for Credit Losses • The Asset ACL / Total Loans and Leases is at 1.17%, 1 bp decrease from Q4. • Reserve levels continue to provide for uncertainty. Rollforward of the On-Balance Sheet Allowance for Credit Losses ($ in 000’s) C&I CRE Const Lease Mortgage Home Equity Consumer Total 12/31/20
Slide 14: Commercial Real Estate
Commercial Real Estate (As of 3/31/26) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 707 15.0% 59.8% 3.8% Hotel 444 9.4% 53.8% 6.9% Retail 1,096 23.2% 60.7% 2.1% Multi-family 1,004 21.3% 56.1% 9.7% Industrial 640 13.6% 58.3% 4.1% Dealer Related 470 10.0% 65.3%
Slide 15: Commercial & Industrial
Commercial & Industrial (As of 3/31/26) Balances Industry % of Balances % Criticized ($ mm) Auto Dealers 764 34.1% 0.6% Retail - 0.0% 0.0% Hospitality/Hotel 100 4.5% 0.0% Food Service 39 1.7% 0.2% Transportation 65 2.9% 0.0% Other 1,274 56.8% 5.5% Total 2,242 100.0% 3.3% • Industries deemed to exhib
Slide 16: Construction
Construction (As of 3/31/26) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 24 3.1% 47.1% 0.0% Hotel 53 6.9% 47.2% 0.0% Retail 33 4.3% 69.8% 0.0% Multi-family 407 52.9% 51.3% 0.0% Industrial 149 19.4% 53.9% 18.7% Dealer Related 29 3.8% 65.1% 0.0% Other 74 9.6% 5
Slide 17: Summary Income Statement
Summary Income Statement Quarter ended ($ in millions except per share data) 3/31/26 12/31/25 3/31/25 Net interest income $ 167.5 $ 170.3 $ 160.5 Provision for credit losses 5.0 7.7 10.5 Noninterest income 52.8 55.6 50.5 Noninterest expense 127.9 125.1 123.6 Pre-tax income 87.5 93.1 76.9 Tax expense
Slide 18: Selected Balance Sheet Items
Selected Balance Sheet Items As of ($ in millions except per share data) 3/31/26 12/31/25 3/31/25 Selected Assets Investment securities – AFS $ 2,080.0 $ 2,076.2 $ 1,858.4 Investment securities – HTM 3,480.0 3,533.1 3,724.9 Loans and leases 14,440.8 14,312.5 14,293.0 Total assets 24,264.5 23,955.3 2
Slide 19: 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 20: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation For the Three Months Ended March 31, December 31, March 31, (dollars in thousands) 2026 2025 2025 Income Statement Data: Net income $ 67,784 $ 69,931 $ 59,248 Average total stockholders' equity $ 2,788,826 $ 2,756,241 $ 2,641,978 Less: average goodwill 995,492 995,492