Bank Of Hawaii Corporation · NYSE:BOH
Bank Of Hawaii — Q3 2025 Earnings Presentation
54 slides from Bank Of Hawaii's earnings presentation, Oct 27, 2025
Slide 1: Third quarter 2025 financial report
Bank of Hawai‘i Corporation third quarter 2025 financial report October 27, 2025
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: Third quarter 2025 highlights
third quarter 2025 highlights • $1.20 diluted earnings per common share • $53.3 million net income • net interest margin expanded for the sixth consecutive quarter to earnings highlights 2.46% from 2.39% • return on average common equity increased to 13.59% from 12.50% • 1.59% average cost of total
Slide 4: Unique business model
unique business model • attractive core market superior risk adjusted • dominant market position returns over time • fortress risk profile 4
Slide 5: Unmatched brand awareness – total unaided
unmatched brand awareness – total unaided Q. When you think of financial services companies in Hawai‘i, what company comes to mind? Any others? BOH vs three closest competitors 90% 81% 82% 79% 79% 80% 76% 70% 71% 69% 70% 67% 67% 66% 58% 60% 50% 40% 30% 20% 10% 0% 2014 2015 2016 2017 2018 2019 2020 2
Slide 6: 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 7: 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% 2.52% 2.44% 2.46% 2.39% 2.37% 2.30% 2.16% 2.16% 2.14% 2.11% 1.95% 1.59% 1.54% 1.09% 0.97% 0.69% 0.48% 0.30% 0.20% 0.13% 0.11% 0.07% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 BOH KRX med
Slide 8: Cost of funds: total deposits
cost of funds total deposits 2.34% 2.26% 2.19% 2.19% 2.10% 2.01% 1.99% 1.85% 1.87% 1.81% 1.74% 1.77% 1.67% 1.60% 1.60% 1.59% 1.52% 1.40% 1.09% 1.08% 0.75% 0.66% 0.46% 0.31% 0.20% 0.12% 0.08% 0.07% 0.05% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 BOH KRX median source:
Slide 9: Accretive and predictable balance sheet remix
accretive and predictable balance sheet remix $594 million accretive & 3Q25 loan & 4.1% roll off rate 6.3% roll on rate predictable NII investment expansion cashflow note: loan cashflow refers to cashflow from fixed and adjustable loans; 6.3% roll on rate assumes that the cashflows from maturities/p
Slide 10: Ongoing NIM expansion
ongoing NIM expansion 2.50% avg Fed Funds 5.60% 0.07% 2.46% 0.07% 2.40% 5.25% 0.13% 2.30% 4.90% 0.01% 2.20% 0.03% 4.55% 0.04% 2.11% 2.10% 4.20% 2.00% 3.85% 1.90% 3.50% 1Q24 NIM 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 3Q25 NIM 10
Slide 11: Conservative loan portfolio focused on core market
conservative loan portfolio focused on core market construction non-core 10-yr 10-yr 3% C&I and leasing auto & 1% % Hawaiʻi/ avg avg 12% other asset type West Pac NCO NPA consumer 7% core C&I residential mortgage 100% -0.01% 0.15% residential residential home equity 100% -0.07% 0.24% mortgage mort
Slide 12: Dynamically managing credit risk
dynamically managing credit risk de-risking the balance sheet loan portfolio balance $16.0 billions $14.0 $0.1 $0.1 $0.1 $0.1 $12.0 $0.2 $0.2 $0.3 $10.0 $0.4 $0.5 $8.0 $0.5 $0.6 $14.0 $13.9 $0.6 $13.0 $13.8 $6.0 $1.5 $0.6 $11.5 $12.0 $1.3 $0.8 $0.7 $10.5 $0.9 $9.8 $9.0 $4.0 $8.0 $7.0 $5.3 $5.9 $5.0
Slide 13: Wealth opportunity
AN Bank of Hawai'i Corporation | wealth opportunity
Slide 14: Indexed balance changes since 2005
50% 100% 150% 200% 0% -50% 12/31/05 12/31/06 12/31/07 12/31/08 note: based on end of period balances since 2005 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 indexed balance changes 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 5.1% 12/31/24 4.2% total trus
Slide 15: Wealth opportunity
wealth opportunity Hawaiʻi has the highest average net worth per household in the U.S of $260K, compared to the national average of $71K1 millionaire households in Hawaiʻi are expected to grow 30% over the next four years, driven by local wealth creation and inbound migration2 Hawaiʻi has the highes
Slide 16: Leveraging strengths for growth
leveraging strengths for growth capitalize on unmatched brand strength, a dominant deposit market position, and strong commercial relationships to grow wealth management share in Hawaiʻi’s $321 billion market deposit market share wealth management market share commercial loans market share BOH BOH B
Slide 17: Strategic wealth priorities
strategic wealth priorities transformation underway to shift from siloed product-oriented businesses to an integrated wealth management client experience providing holistic solutions to individuals and commercial clients 17
Slide 18: Mass affluent
mass affluent Bankoh Advisors before Cetera after Cetera • time for account opening: ~2 hours • time for account opening: ~15 minutes • requests for trades and money movement: ~5-7 minutes via phone • requests for trades and money movement: ~1 minute online • limited product offerings • expanded pro
Slide 19: High net worth
high net worth commercial and wealth partnership prior state current state • siloed teams • integrated teams • fragmented compensation • shared goals structures hindering cross-sell collaboration • aligned incentives • lack of coordinated goals • coordinated client engagement 19
Slide 20: Credit performance
AN Bank of Hawai'i Corporation | credit performance
Slide 21: 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 September 30, 2025 21
Slide 22: Consumer portfolio
consumer portfolio 57% of total loans wtd % total % total avg home equity asset type consumer loans WALTV FICO $2.1 residential mortgage 59% 33% 49% 804 home equity 27% 15% 46% 789 $7.9B residential consumer real estate secured 86% 49% 48% 799 mortgage $4.7 automobile 9% 5% n/a 731 automobile $0.7 o
Slide 23: Commercial portfolio
commercial portfolio 43% of total loans CRE $4.0 % total % total asset type comml loans WALTV residential commercial real estate 66% 29% 54% mortgage $6.1B construction 6% 3% 58% commercial real estate secured 73% 32% 55% commercial & industrial 26% 11% n/a leasing 2% 1% n/a construction C&I $0.4 ho
Slide 24: Stable real estate market
stable real estate market Oahu market vacancies and inventory vacancy inventory (sq ft) 2Q25 2Q24 10 yr avg 10 yr CAGR industrial 1.47% 1.05% 1.63% 0.63% office 13.20% 13.57% 12.42% -1.01% retail 5.33% 6.09% 6.08% 0.72% multi-family 3.48% 3.98% 4.73% 0.68% note: 10-year average vacancy and 10-yr CAG
Slide 25: Commercial real estate (CRE)
commercial real estate (CRE) 29% of total loans avg. retail exposure 5% asset type WALTV ($MMs) lodging 5% multi-family 56% 3.3 residential industrial mortgage 55% 2.5 industrial office 5% 2% retail 53% 4.3 lodging 51% 14.3 office 59% 1.7 other 4% multi-family other 52% 4.2 7% home total CRE equity
Slide 26: CRE scheduled maturities
CRE scheduled maturities modest near-term maturities 1,800 42.2% 1,600 1,400 1,200 1,000 $ millions 800 18.0% 600 13.5% 9.5% 400 8.5% 3.9% 4.3% 200 0 2025 2026 2027 2028 2029 2030 2031+ 26
Slide 27: CRE loan balances by LTV
CRE loan balances by LTV LTV > 80% - $71MM, 1.8% of CRE 63.8% 2,500 2,000 1,500 $ millions 25.1% 1,000 500 9.3% 1.2% 0.03% 0.5% 0 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% 27
Slide 28: Commercial & industrial
commercial & industrial 11% of total loans avg. exposure industry % leveraged ($MMs) auto dealers 1.0% AOAO 0% 1.8 renewable real estate investors energy 1.5% 0.8% RE investors 0% 1.1 lodging 0.7% auto dealers residential 17% 4.9 mortgage renewable energy 0% 2.9 educational svcs 0.6% lodging 23% 5.4
Slide 29: Non-depository financial institutions (NDFI)
non-depository financial institutions (NDFI) loans to NDFIs total $85 million and make up 0.6% of total loans construction 3% outstanding % total leasing 1% NDFI type $ mil loans C&I equity REITs* 73.6 0.5% CRE 29% C&I residential private equity 11.4 0.1% 11% mortgage C&I - NDFI 0.6% total 85.0 0.6%
Slide 30: 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% 0.14% 0.13% 0.11% 0.12% $0 0.1 5% $0 0.07% 0.07% 0.1 0% $0 0.0 5% $0 0.0 0% $0 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 $0 NCOs/average loans NPAs/period-end loans plus OREO $0 $0 1.4 0% delinquencies criticized 1.2 0% 1
Slide 31: Financial update
AN Bank of Hawai'i Corporation | financial update
Slide 32: NII and NIM trends
NII and NIM trends $ in millions sixth consecutive quarter of NII and NIM expansion $142 $141 2.60% 2.60% $136 $137 $133 2.47% $130 2.47% 2.46% $125 $126 $124 2.39% $121 $120 2.34% $118 2.32% $116 $114 $115 2.18% 2.19% 2.22% 2.15% 2.13% 2.13% 2.11% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3
Slide 33: Cashflow repricing
cashflow repricing $ in millions total quarterly impact to NII from cashflows repricing: +$3.3 million maturities/prepayments maturities/prepayments reinvestment opportunities $700 8.0% $594 6.9% $600 7.0% 6.3% 6.1% 6.0% $500 5.3% 4.8% 4.7% 5.0% $400 4.1% $322 4.0% $300 2.9% 3.0% 2.4% 2.2% $181 2.1%
Slide 34: Deposit mix shift and repricing
deposit mix shift and repricing $ in millions quarterly NII impact from deposit mix shift and repricing in 3Q25: $(0.8) 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 4Q22 1Q23
Slide 35: NII impact from 25 bps Fed Funds cut
NII impact from 25 bps Fed Funds cut short-term net NII impact: $(0.3) million & long-term net NII impact: +$1.6 million balances rate sensitive earning assets NII impact $6.9B $- $4.0 $3.3 $(0.4) $3.0 $(1.0) $ in millions $(1.0) $(0.9) $ in billions $2.0 $1.5 $1.4 $(2.0) $1.0 $0.6 $(2.1) $- $(3.0)
Slide 36: Trend in cost of deposits
trend in cost of deposits downward beta 5.43% 5.50% 5.50% 5.50% 5.43% 5.16% 4.82% 4.69% 87% 2.52% 84% 2.46% 4.50% 4.50% 4.46% 2.39% 2.37% 81% 80% 2.30% 76% 2.16% 2.16% 2.14% 3.82% 70% 1.87% 1.95% 1.81% 1.74% 1.77% 1.67% 1.60% 1.60% 1.59% 53% 1.54%1.40% 2.35% 1.08% 1.09% 0.75% 28% 29% 28% 25% 0.94% 0
Slide 37: Time deposits
time deposits time deposit rates continue to decrease time deposit rates 60% time deposit maturity schedule 5.50% 5.50% 5.43% WAR 3.50% 5.00% 4.82% 50% % of total time deposits scheduled to mature 4.50% 4.50% 4.46% 4.18% 4.20% 4.17% 4.02% 4.00% 40% 3.67% 3.52% 3.40% 3.00% 30% $1.6B WAR 3.19% 52% 2.0
Slide 38: Optimizing balance sheet
optimizing balance sheet earning asset composition 0.4% 1% 5% 100% 2% 3% 3% 3% 4% 2% 3% 2% 3% 1% 9% 9% 9% 10% 6% 13% 13% 14% 12% 26% 27% 80% 27% 28% 32% 34% 29% 29% 33% 33% 29% 30% 60% 40% 73% 72% 67% 61% 55% 57% 56% 55% 57% 55% 54% 53% 20% 0% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/2
Slide 39: Noninterest income and expense
noninterest income and expense $ in millions increase in noninterest income and continued discipline in expense management reported noninterest income reported noninterest expense $50 $120 $110.8 $112.4 $45.1 $44.8 $46.0 $107.1 $100 $40 $80 $30 $60 $20 $40 $10 $20 $0 $0 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25
Slide 40: Sale of merchant services
sale of merchant services $ in millions an accretive transaction delivering $0.9 million in quarterly net benefit, with additional cross-sell potential $3.0 $2.2 $2.0 $1.7 $0.9 $1.0 $0.0 -$1.0 -$2.0 -$3.0 $(3.0) -$4.0 net interest income noninterest income noninterest expense net impact to PPNR savi
Slide 41: Financial summary
financial summary $ in millions, except per share amounts 3Q 2025 2Q 2025 3Q 2024 ∆ 2Q 2025 ∆ 3Q 2024 net interest income $ 136.7 $ 129.7 $ 117.6 $ 7.0 $ 19.1 noninterest income 46.0 44.8 45.1 1.2 0.9 total revenue 182.6 174.5 162.7 8.2 19.9 noninterest expense 112.4 110.8 107.1 1.6 5.3 operating in
Slide 42: Capital
capital strong capital 15.40% 15.23% 1 15.11% 14.34% 13.6% 76.7% 14.17% 14.05% 11.98% 5.11% 5.23% 5.40% 11.66% 11.81% 59.9% 59.2% 6.05% 6.17% 6.34% 5.16% 5.31% 5.48% 8.38% 8.46% 8.44% 3.38% 3.46% 3.44% 10.00% 10.00% 10.00% 8.00% 8.00% 8.00% 6.50% 6.50% 6.50% 5.00% 5.00% 5.00% 3Q24 2Q25 3Q25 3Q24 2Q2
Slide 43: Takeaways
takeaways ✔ NII and NIM increased for the sixth consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital 43
Slide 44: Q&A
AN Bank of Hawai'i Corporation | Q&A
Slide 45: Appendix
AN Bank of Hawai'i Corporation | appendix
Slide 46: 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 $10.4B cash securities available FHLB $7.8B uninsured/ FRB uncollateralized deposits note: as of September 30, 2025, cash includes fed funds
Slide 47: Insured/collateralized deposits
insured/collateralized deposits uninsured/ uncollateralized 37% insured 53% uninsured/ collateralized 10% note: as of September 30, 2025; numbers may not add up due to rounding 47
Slide 48: CRE supply constraints
CRE supply constraints Oahu market inventory 10-yr CAGR: 0.6% 10-yr CAGR: -1.0% 10-yr CAGR: 0.7% 10-yr CAGR: 0.7% note: 10-yr CAGR for inventory are based on year-end 2014 through 2024 48 source: Colliers (industrial, office, retail) and CoStar (multi-family)
Slide 49: CRE office
CRE office 2% of total loans scheduled maturity 300 LTV distribution 250 200 LTV > 60% to $ millions 70% 150 37.3% 40% 29.7% 100 11.8% 12.2% 50 4.9% 2.3% 1.9% LTV > 70% $343MM - to 80% 2025 2026 2027 2028 2029 2030 2031+ 6% highlights LTV > 80% 12% • 59% wtd avg LTV LTV ≤ 60% 42% • $1.7MM average ex
Slide 50: CRE multi-family
CRE multi-family 7% of total loans scheduled maturity 700 63.8% LTV distribution 600 500 $ millions 400 LTV > 60% to 70% 26% 300 17.9% 200 7.8% 100 4.6% 2.6% 2.8% 0.4% $1.0B LTV > 70% to - 80% 2025 2026 2027 2028 2029 2030 2031+ 14% LTV ≤ 60% highlights 57% • 56% wtd avg LTV • $3.3MM average exposur
Slide 51: Stable real estate prices
stable real estate prices Oahu market indicators – YTD 2025 as of September 2025 single family homes condominiums YTD-25 YTD-24 Δ YTD-24 YTD-25 YTD-24 Δ YTD-24 4.1% median sales $1,145 $1,100 $505 $510 price (000s) -1.0% 0.8% closed sales 2,118 2,101 3,289 3,390 -3.0% 5 days 15 days median days 23 1
Slide 52: Unemployment
unemployment experience & forecast 20.2% 4.2% 4.3% 3.0% 3.0% 3.2% 2.8% 2.2% 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment source for Hawai‘i unemployment
Slide 53: 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) 53
Slide 54: 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) 54