First Hawaiian, Inc. · NASDAQ:FHB
First Hawaiian — Q2 2026 Earnings Presentation
20 slides from First Hawaiian's earnings presentation, Jul 24, 2026
Slide 1: 2nd Quarter 2026 Earnings Call
2 Quarter 2026 nd Earnings Call July 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: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights1 Q2 2026 Q1 2026 Net Income ($mm) $73.4 $67.8 • Net income: $73.4 mm Diluted EPS $0.60 $0.55 • Cost of deposits: 1.20% Net Interest Margin 3.25% 3.19% • Net interest margin increased 6 bp to 3.25% Efficiency Ratio 56.2% 57.8% • Strong credit quality. Recorded $5.6 mm pro
Slide 4: Q2 2026 Balance Sheet Highlights
1 Q2 2026 Balance Sheet Highlights $ in millions 6/30/26 3/31/26 Assets Cash and Cash $ 1,012.5 $ 1,719.1 Equivalents2 Investment Securities - AFS 2,094.7 2,080.0 • Total loans and leases increased $136.5 mm Investment Securities - 3,411.7 3,480.0 • Total deposits decreased $623.2 mm HTM Loans and L
Slide 5: Loans Increased $137 mm
Loans Increased $137 mm Total Loans and Leases 6/30/26 vs 3/31/26 Net Changes ($ billions) ($ millions) 14.4 14.4 14.6 Leasing 0.4 0.4 0.5 C&I 98 Home Equity 1.2 1.2 1.2 Consumer 1.0 1.0 1.0 CRE 67 C&I 2.4 2.2 2.3 Consumer 16 Leases 7 Residential 4.1 4.1 4.0 Home Equity 5 (20) Residential CRE & (38)
Slide 6: Cost of Deposits Down 2 bp, Total Deposits Down $623 MM
Cost of Deposits Down 2 bp Total Deposits Down $623 MM Total Deposits Deposit Composition ($ billions) ($ billions) 0.6 20.8 20.2 20.2 Time 3.4 3.4 3.3 8.9 10.6 Money 3.8 4.3 Market 4.3 Savings 6.2 6.6 Retail Commercial Public 6.1 Q2 Highlights • 120 bp cost of deposits, down 2 bp • $623 mm decrease
Slide 7: $3.5 mm Increase in Net Interest Income, 6 bp Increase in NIM
$3.5 mm Increase in Net Interest Income 6 bp Increase in NIM 210.0 5.00% 205.0 Net Interest Income and Net Interest Margin 4.90% Q1 ’26 – Q2 ‘26 NIM Walk 200.0 4.80% 195.0 4.70% 190.0 ($ millions) 4.60% 185.0 4.50% 0.03% 3.25% 180.0 4.40% 175.0 167.5 171.0 4.30% 0.01% 170.0 163.6 4.20% 0.02% 165.0 4
Slide 8: Noninterest Income and Expense
Noninterest Income and Expense Noninterest Income Noninterest Expense ($ millions) ($ millions) 127.9 130.4 124.9 60.3 54.0 52.8 57.2% 57.8% 56.2% Q2 25 Q1 26 Q2 26 Q1 25 Q1 26 Q2 26 • Q2 2026 includes: Nonint Expense Efficiency Ratio • $ 4mm increase in BOLI • $1.4 mm excise tax refund • Q2 2026 in
Slide 9: Asset Quality Remains Strong
Asset Quality Remains Strong NPAs and 90+ Allowance for days past due credit losses to to total loans, total loans and including leases leases and OREO Commercial Annualized QTD criticized loans to NCOs to average total loans and total loans and leases leases 8
Slide 10: 2026 Outlook
2026 Outlook (As of 7/24/26) Outlook (Does not reflect adjustments that would occur if the business Prior Outlook combination transaction with Trico were to close during 2026) Loans Unchanged Full year loan growth at 3% - 4% Full year NIM outlook approximately 3.24% - Net Interest 3.25% Full year NI
Slide 11: Questions
a Ae\ First Hawaiian, Inc. Questions
Slide 12: Appendix
Appendix Ae First Hawaiian, Inc.
Slide 13: Allowance for Credit Losses
Allowance for Credit Losses • The Asset ACL / Total Loans and Leases is at 1.15%, 2 bp decrease from Q1. • Reserve levels continue to provide for uncertainty. Rollforward of the On-Balance Sheet Allowance for Credit Losses ($ in 000’s) C&I CRE Const Lease Mortgage Home Equity Consumer Total 3/31/202
Slide 14: Commercial Real Estate
Commercial Real Estate (As of 6/30/26) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 715 14.9% 61.4% 3.5% Hotel 467 9.8% 54.2% 6.5% Retail 1,121 23.4% 60.2% 2.5% Multi-family 970 20.3% 56.5% 10.9% Industrial 698 14.6% 57.2% 7.7% Dealer Related 470 9.8% 66.0% 0.
Slide 15: Commercial & Industrial
Commercial & Industrial (As of 6/30/26) Balances Industry % of Balances % Criticized ($ mm) Auto Dealers 811 34.7% 0.4% Retail - 0.0% 0.0% Hospitality/Hotel 92 3.9% 6.9% Food Service 38 1.6% 0.2% Transportation 97 4.1% 0.0% Other 1,302 55.7% 4.0% Total 2,340 100.0% 2.6% • Industries deemed to exhibi
Slide 16: Construction
Construction (As of 6/30/26) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 22 3.0% 44.0% 0.0% Hotel 57 7.8% 46.4% 0.0% Retail 40 5.5% 69.8% 0.0% Multi-family 427 58.3% 51.7% 0.0% Industrial 85 11.6% 57.2% 0.0% Dealer Related 23 3.1% 59.9% 0.0% Other 78 10.7% 57
Slide 17: Summary Income Statement
Summary Income Statement Quarter ended ($ in millions except per share data) 6/30/26 3/31/26 6/30/25 Net interest income $ 171.0 $ 167.5 $ 163.6 Provision for credit losses 5.6 5.0 4.5 Noninterest income 60.3 52.8 54.0 Noninterest expense 130.4 127.9 124.9 Pre-tax income 95.2 87.5 88.1 Tax expense 2
Slide 18: Selected Balance Sheet Items
Selected Balance Sheet Items As of ($ in millions except per share data) 3/31/26 3/31/26 6/30/25 Selected Assets Investment securities – AFS $ 2,094.7 $ 2,080.0 $ 1,891.7 Investment securities – HTM 3,411.7 3,480.0 3,658.8 Loans and leases 14,577.3 14,440.8 14,351.9 Total assets 23,646.0 24,264.5 23
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 For the Six Months Ended June 30, March 31, June 30, June 30, (dollars in thousands) 2026 2026 2025 2026 2025 Income Statement Data: Net income $ 73,375 $ 67,784 $ 73,247 $ 141,159 $ 132,495 Average total stockholders' equity $ 2,796,857 $ 2