First Hawaiian, Inc. · NASDAQ:FHB
First Hawaiian — Q3 2025 Earnings Presentation
19 slides from First Hawaiian's earnings presentation, Oct 24, 2025
Slide 1: 3rd Quarter 2025 Earnings Call
3rd Quarter 2025 Earnings Call October 24, 2025 0
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: Q3 2025 Financial Highlights
Q3 2025 FINANCIAL HIGHLIGHTS1 Q3 2025 Q2 2025 • Net income: $73.8 mm Net Income ($mm) $73.8 $73.2 • Cost of deposits: 1.38% Diluted EPS $0.59 $0.58 • Total cost of funds: 1.41% Net Interest Margin 3.19% 3.11% • Net interest margin increased 8 bp to 3.19% Efficiency Ratio 55.3% 57.2% ROA / ROATA2 1.2
Slide 4: Q3 2025 Balance Sheet Highlights
Q3 2025 BALANCE SHEET HIGHLIGHTS1 $ in millions 9/30/25 6/30/25 Assets Cash and Cash $ 1,855.6 $ 1,399.0 Equivalents2 Investment Securities - 1,986.7 1,891.7 • Total loans and leases decreased $222.5 mm AFS Investment Securities - 3,594.2 3,658.8 HTM • Total deposits increased $498.1 mm Loans and Le
Slide 5: Loans Decreased $222.5 MM, or 1.6%
LOANS DECREASED $222.5 MM, OR 1.6% Total Loans and Leases 9/30/25 vs 6/30/25 Net Changes ($ billions) ($ millions) 14.2 14.4 14.1 Leasing 0.4 0.4 0.4 Home Equity 1.2 1.2 1.2 CRE 102 (2.3%) Consumer 1.0 1.0 1.0 Leases 17 (4.1%) C&I 2.1 2.4 2.0 Home Equity 9 (0.8%) Consumer 3 (0.3%) Residential 4.2 4.
Slide 6: Total Deposits Increased $498 MM
TOTAL DEPOSITS INCREASED $498 MM TOTAL COST OF DEPOSITS DOWN 1 BP Total Deposits Deposit Composition ($ billions) ($ billions) 1.3 20.2 20.2 20.7 Time 3.4 3.4 3.4 10.1 9.4 Money 3.9 Market 4.1 3.8 Retail Commercial Public Savings 5.9 6.2 6.7 Q3 Highlights • $498 mm, or 2.5%, increase in total deposi
Slide 7: $5.7 MM Increase in Net Interest Income
$5.7 MM INCREASE IN NET INT INCOME 8 BP INCREASE IN NIM 210.0 5.00% 205.0 Net Interest Income and Net Interest Margin 4.90% Q2 ‘25 – Q3 ‘25 NIM Walk 200.0 4.80% 195.0 4.70% 190.0 ($ millions) 4.60% 185.0 4.50% 180.0 4.40% 0.03% 3.19% 175.0 169.3 4.30% 170.0 163.6 4.20% 165.0 4.10% 0.01% 160.0 156.7
Slide 8: Noninterest Income and Expense
NONINTEREST INCOME AND EXPENSE Noninterest Income Noninterest Expense ($ millions) ($ millions) 126.1 124.9 125.7 57.1 53.3 54.0 59.8% 57.2% 55.3% Q3 24 Q2 25 Q3 25 Q3 24 Q2 25 Q3 25 Nonint Expense Efficiency Ratio • BOLI income included $1.3 mm benefit from favorable market movements • “Other incom
Slide 9: Asset Quality Remains Strong
ASSET QUALITY REMAINS STRONG ($ millions) ($ millions) ▪ QTD NCO Rate - Annualized QTD NCO/Avg Loans and Leases ▪ Includes OREO and 90+ days past due accruing loans ($ millions) ($ millions) ▪ TLL - Total Loans and Leases ▪ 30-89 days past due is comprised of accruing and non-accruing loans 8
Slide 10: Allowance for Credit Loss
ALLOWANCE FOR CREDIT LOSS RESERVE LEVELS CONTINUE TO PROVIDE FOR UNCERTAINTY • The Asset ACL / Total Loans and Leases is at 1.17%, unchanged from Q2 • Approximately $170 mm outstanding balances to NDFI’s at 9/30/25 • Exposure is predominantly to REITS • No exposure to private credit or private equit
Slide 11: Questions
QUESTIONS rN First Hawaiian, Inc.
Slide 12: Appendix
> AP Pp EN D IX fA First Hawaiian, Inc. iil
Slide 13: Commercial Real Estate
COMMERCIAL REAL ESTATE (As of 09/30/25) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 767 17.0% 59.4% 2.2% Hotel 483 10.7% 52.8% 7.2% Retail 873 19.3% 60.4% 2.3% Multi-family 913 20.2% 55.9% 10.9% Industrial 645 14.3% 58.7% 4.6% Dealer Related 454 10.1% 65.1% 0
Slide 14: Commercial & Industrial
COMMERCIAL & INDUSTRIAL (As of 09/30/25) Balances Industry % of Balances % Criticized ($ mm) Auto Dealers 703 34.7% 2.0% Retail - 0.0% 0.0% Hospitality/Hotel 89 4.4% 0.0% Food Service 39 1.9% 2.2% Transportation 64 3.2% 0.0% Other 1,133 55.8% 6.7% Total 2,028 100.0% 4.4% Industries deemed to exhibit
Slide 15: Construction
CONSTRUCTION (As of 09/30/25) Balances Weighted Property Type % of Balances % Criticized ($ mm) Average LTV Office 23 2.6% 46.8% 0.0% Hotel 52 5.9% 48.9% 0.0% Retail 29 3.3% 58.3% 0.0% Multi-family 449 51.0% 54.7% 0.0% Industrial 178 20.2% 54.5% 15.7% Dealer Related 69 7.8% 77.9% 0.0% Other 81 9.2%
Slide 16: Summary Income Statement
SUMMARY INCOME STATEMENT Quarter ended ($ in millions except per share data) 9/30/25 6/30/25 9/30/24 Net interest income $ 169.3 $ 163.6 $ 156.7 Provision for credit losses 4.5 4.5 7.4 Noninterest income 57.1 54.0 53.3 Noninterest expense 125.7 124.9 126.1 Pre-tax income 96.1 88.1 76.4 Tax expense 2
Slide 17: Selected Balance Sheet Items
SELECTED BALANCE SHEET ITEMS As of ($ in millions except per share data) 9/30/25 6/30/25 9/30/24 Selected Assets Investment securities – AFS $ 1,986.7 $ 1,891.7 $ 2,056.0 Investment securities – HTM 3,594.2 3,658.8 3,853.7 Loans and leases 14,129.4 14,351.9 14,241.4 Total assets 24,098.7 23,837.1 23
Slide 18: 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 19: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, (dollars in thousands) 2025 2025 2024 2025 2024 Income Statement Data: Net income $ 73,840 $ 73,247 $ 61,492 $ 206,335 $ 177,633 Average total stockholders' equity