Bank Of Hawaii Corporation · NYSE:BOH
Bank Of Hawaii — Q4 2025 Earnings Presentation
45 slides from Bank Of Hawaii's earnings presentation, Jan 26, 2026
Slide 1: Fourth quarter 2025 financial report
Bank of Hawai‘i Corporation fourth quarter 2025 financial report January 26, 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: Fourth quarter 2025 highlights
fourth quarter 2025 highlights • $1.39 diluted earnings per common share • $60.9 million net income • net interest margin expanded for the seventh consecutive quarter to 2.61% from 2.46% earnings highlights • average cost of total deposits decreased to 1.43% from 1.59% • spot cost of total deposits
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% 69% 71% 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% 2.64% 2.52% 2.44% 2.46% 2.39% 2.37% 2.30% 2.16% 2.16% 2.14% 2.11% 1.95% 1.94% 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
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% 1.98% 1.85% 1.87% 1.81% 1.74% 1.77% 1.67% 1.60% 1.60% 1.59% 1.52% 1.40% 1.43% 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 4Q25 BOH KRX
Slide 9: Accretive and predictable balance sheet remix
accretive and predictable balance sheet remix $659 million accretive & 4Q25 loan & 4.0% roll off rate 5.8% roll on rate predictable NII investment expansion cashflow note: loan cashflow refers to cashflow from fixed and adjustable loans; 5.8% roll on rate assumes that the cashflows from maturities/p
Slide 10: Ongoing NIM expansion
ongoing NIM expansion 3.00% avg Fed Funds 5.60% 0.15% 2.61% 0.07% 2.50% 0.07% 5.25% 0.13% 0.04% 0.03% 0.01% 2.11% 2.00% 4.90% avg Fed Funds NIM 1.50% 4.55% 1.00% 4.20% 0.50% 3.85% 0.00% 3.50% 1Q24 NIM 2Q24 vs 3Q24 vs 4Q24 vs 1Q25 vs 2Q25 vs 3Q25 vs 4Q25 vs 4Q25 NIM 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
Slide 11: Conservative loan portfolio focused on core market
conservative loan portfolio focused on core market construction non-core 10-yr 10-yr 1% 0.6% C&I and leasing auto & % Hawaiʻi/ avg avg 12% other asset type West Pac NCO NPA consumer 7% core C&I residential mortgage 100% -0.01% 0.14% residential residential home equity 100% -0.06% 0.24% mortgage mo
Slide 12: Credit performance
4h Bank of Hawai'i Corporation | credit performance
Slide 13: 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 December 31, 2025 13
Slide 14: Consumer portfolio
consumer portfolio 57% of total loans wtd % total % total avg asset type consumer loans WALTV FICO home equity $2.1 residential mortgage 60% 34% 49% 803 home equity 26% 15% 46% 789 $8.0B residential consumer real estate secured 86% 49% 48% 799 mortgage $4.8 automobile 9% 5% n/a 730 automobile $0.7 o
Slide 15: Commercial portfolio
commercial portfolio 43% of total loans CRE $4.2 % total % total asset type comml loans WALTV residential commercial real estate 69% 30% 54% mortgage $6.1B construction 3% 1% 57% commercial real estate secured 73% 31% 54% commercial & industrial 26% 11% n/a leasing 1% 1% n/a C&I home $1.6 total comm
Slide 16: Stable real estate market
stable real estate market Oahu market vacancies and inventory vacancy inventory (sq ft) 3Q25 3Q24 10 yr avg 10 yr CAGR industrial 1.13% 1.10% 1.63% 0.63% office 13.11% 13.13% 12.42% -1.01% retail 5.04% 5.82% 6.08% 0.72% multi-family 3.83% 4.05% 4.79% 0.68% note: 10-year average vacancy and 10-yr CAG
Slide 17: Commercial real estate (CRE)
commercial real estate (CRE) 30% of total loans avg. retail exposure 4.9% asset type WALTV ($MMs) lodging multi-family 55% 3.9 4.6% residential industrial industrial mortgage 55% 2.7 5.5% retail 53% 4.4 office 2.4% lodging 50% 14.1 office 58% 1.7 other 3.9% other 52% 4.0 multi-family 8.5% home total
Slide 18: CRE scheduled maturities
CRE scheduled maturities modest near-term maturities 2,500 2,000 45.7% 1,500 $ millions 1,000 17.2% 15.0% 500 9.4% 8.6% 4.1% 0 2026 2027 2028 2029 2030 2031+ 18
Slide 19: CRE loan balances by LTV
CRE loan balances by LTV LTV > 80% - $69MM, 1.6% of CRE 63.8% 2,500 2,000 $ millions 1,500 26.3% 1,000 500 8.3% 1.1% 0.02% 0.5% 0 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% 19
Slide 20: Commercial & industrial
commercial & industrial 11% of total loans avg. exposure industry % leveraged ($MMs) auto dealers AOAO 0% 1.8 real estate investors 1.2% renewable 1.4% energy RE investors 0% 1.3 0.7% lodging auto dealers residential 15% 4.5 0.7% mortgage renewable energy 0% 2.6 educational svcs 0.6% lodging 20% 6.2
Slide 21: 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% 0.12% 0.14% 0.12% $0 0.10% 0.10% 0.1 5% $0 0.07% 0.1 0% $0 0.0 5% $0 0.0 0% $0 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 $0 NCOs/average loans NPAs/period-end loans plus OREO $0 $0 1.4 0% delinquencies criticized 1.2 0% 1
Slide 22: Financial update
4h Bank of Hawai'i Corporation | financial update
Slide 23: NII and NIM trends
NII and NIM trends $ in millions seventh consecutive quarter of NII and NIM expansion $145 $142 $141 2.60% 2.60% $136 $137 2.61% $133 2.47% $130 2.47% 2.46% $125 $126 $124 $121 2.39% $120 2.34% $118 $116 2.32% $114 $115 2.18% 2.19% 2.22% 2.15% 2.13% 2.13% 2.11% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q2
Slide 24: Cashflow repricing
cashflow repricing $ in millions total quarterly impact to NII from cashflows repricing: +$3.0 million maturities/prepayments maturities/prepayments reinvestment opportunities $700 $659 8.0% $600 7.0% 6.4% 5.7% 5.8% 6.0% $500 5.0% 4.9% 5.0% 4.5% $400 4.0% $322 4.0% $300 3.0% 2.6% $205 2.3% $200 2.0%
Slide 25: Deposit mix shift and repricing
deposit mix shift and repricing $ in millions quarterly NII impact from deposit mix shift and repricing in 4Q25: +$0.7 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 4Q
Slide 26: NIBD expansion
NIBD expansion $ in millions $700 QoQ change in average noninterest-bearing deposits $500 $300 $225 $184 $171 $100 $51 $33 $9 $8 ($15) -$100 ($78) ($146) ($129) ($176) ($192) -$300 ($399) -$500 ($456) ($596) -$700 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 26
Slide 27: NII impact from 25 bps Fed Funds cut
NII impact from 25 bps Fed Funds cut short-term net NII impact: $(0.4) million & long-term net NII impact: +$1.4 million balances rate sensitive earning assets NII impact $7.0B $- $4.0 $3.3 $(0.4) $3.0 $(1.0) $ in millions $(0.9) $(0.9) $ in billions $2.0 $1.4 $1.5 $(2.0) $1.0 $0.7 $(2.1) $- $(3.0)
Slide 28: Trend in cost of deposits
trend in cost of deposits downward beta on total deposits 2.52% 2.46% 2.39% 2.37% 2.30% 31% 28% 29% 28% 1.95% 2.16% 2.16% 2.14% 1.87% 2.05% 1.81% 1.74% 1.77% 1.94% 1.94% 1.67% 1.84% 1.60% 1.60% 1.59% 1.54% 1.52% 1.40% 1.43% 1.42% 1.34% 16% 1.09% 1.08% 0.75% 0.69% 0.46% 0.30% 0.20% 0.07%0.11% 0.05% 0
Slide 29: Time deposit maturity schedule
time deposit maturity schedule 52% of time deposits set to reprice in 3 months and 76% in 6 months 60% 3.10% 3.04% 2.98% 2.92% % of total time deposits scheduled to mature 50% 40% 30% $1.4B 52% 20% $0.7B 10% 24% $0.2B $0.3B 8% 10% 0% 1Q26 2Q26 3Q26 4Q26 balance as % of total time deposits weighted a
Slide 30: Optimizing balance sheet
optimizing balance sheet earning asset composition 0.4% 1% 5% 100% 2% 3% 3% 3% 4% 2% 3% 2% 3% 3% 1% 9% 9% 9% 10% 6% 7% 13% 13% 14% 12% 26% 27% 80% 27% 28% 32% 34% 33% 29% 29% 33% 33% 29% 30% 60% 40% 73% 72% 67% 61% 55% 57% 56% 55% 57% 57% 55% 54% 53% 20% 0% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23
Slide 31: 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 $112.4 $46.0 $107.9 $109.5 $43.0 $44.3 $100 $40 $80 $30 $60 $20 $40 $10 $20 $0 $0 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25
Slide 32: Financial summary
financial summary $ in millions, except per share amounts 4Q 2025 3Q 2025 4Q 2024 ∆ 3Q 2025 ∆ 4Q 2024 net interest income $ 145.4 $ 136.7 $ 120.2 $ 8.7 $ 25.2 noninterest income 44.3 46.0 43.0 (1.7) 1.2 total revenue 189.6 182.6 163.2 7.0 26.4 noninterest expense 109.5 112.4 107.9 (2.9) 1.6 operatin
Slide 33: Capital
capital strong capital total 15.54% 15.40% 15.00% 1 14.49% 13.6% 76.4% 14.34% 13.95% 12.13% 5.40% 5.54% 11.98% 5.00% 11.59% 58.9% 59.2% 6.34% 6.49% 5.95% 5.48% 5.63% 5.09% 8.57% 8.31% 8.44% 3.31% 3.44% 3.57% 10.00% 10.00% 10.00% 8.00% 8.00% 8.00% 6.50% 6.50% 6.50% 5.00% 5.00% 5.00% 4Q24 3Q25 4Q25 4Q
Slide 34: Takeaways
takeaways ✔ NII and NIM increased for the seventh consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital 34
Slide 35: Q&A
4h Bank of Hawai'i Corporation | Q&A
Slide 36: Appendix
4h Bank of Hawai'i Corporation | appendix
Slide 37: 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 $10.9B cash securities available FHLB $8.0B uninsured/ FRB uncollateralized deposits note: as of December 31, 2025, cash includes fed funds
Slide 38: Insured/collateralized deposits
insured/collateralized deposits uninsured/ uncollateralized 38% insured 53% uninsured/ collateralized 9% note: as of December 31, 2025; numbers may not add up due to rounding 38
Slide 39: 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 39 source: Colliers (industrial, office, retail) and CoStar (multi-family)
Slide 40: CRE office
CRE office 2% of total loans scheduled maturity 300 LTV distribution 250 200 LTV > 60% to $ millions 70% 150 37.6% 39% 31.4% 100 11.4% 12.3% 50 4.9% 2.3% LTV > 70% - $336MM to 80% 6% 2026 2027 2028 2029 2030 2031+ highlights LTV > 80% 12% • 58% wtd avg LTV LTV ≤ 60% 43% • $1.7MM average exposure • 1
Slide 41: CRE multi-family
CRE multi-family 9% of total loans scheduled maturity 900 LTV distribution 67.3% 600 $ millions LTV > 60% to 70% 28% 300 15.2% 9.1% 2.1% 3.8% 2.4% - $1.2B LTV > 70% to 2026 2027 2028 2029 2030 2031+ 80% 10% LTV ≤ 60% highlights 60% • 55% wtd avg LTV • $3.9MM average exposure LTV > 80% 2% • 100.0% LI
Slide 42: Stable real estate prices
stable real estate prices Oahu market indicators – YTD 2025 as of December 2025 single family homes condominiums YTD-25 YTD-24 Δ YTD-24 YTD-25 YTD-24 Δ YTD-24 3.5% median sales $1,139 $1,100 $507 $515 price (000s) -1.5% 3.5% closed sales 2,890 2,793 4,408 4,459 -1.1% 4 days 14 days median days 23 19
Slide 43: Unemployment
unemployment experience & forecast 20.2% 4.3% 4.5% 2.6% 2.8% 3.0% 3.0% 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 1Q26 2Q26 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment source for Hawai‘i un
Slide 44: 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) 44
Slide 45: 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) 45