Core Insights - Bank of Hawaii reported solid performance in Q3 2024, with notable increases in net income and diluted earnings per share on a linked basis [3] - The bank's net interest income and net interest margin (NIM) expanded for the second consecutive quarter, while fee income grew and operating expenses decreased [3][10] - The bank maintains a strong credit quality with low non-performing assets and stable credit metrics [8][19] Lending Philosophy and Portfolio - The bank focuses on core markets in Hawaii and the Western Pacific, leveraging local expertise for credit decisions [1] - Approximately 60% of clients have been with the bank for over 10 years, contributing to a loan portfolio that is 93% Hawaii-based [1] - The loan growth averaged about 6.7% per annum from 2019 to 2023, but has slowed in 2024 due to high interest rates [4] Loan Composition - Consumer loans represent 57% of total loans, predominantly secured against real estate, with 85% being residential mortgages or home equity [4] - The commercial loan portfolio is $5.9 billion, with commercial real estate making up $3.9 billion, or 28% of total loans [5] - The bank's commercial real estate portfolio is well-diversified, with a weighted average loan-to-value (LTV) of 56% [5][7] Market Conditions - Visitor arrivals in Hawaii remain elevated compared to pre-pandemic levels, although Maui arrivals have decreased [2] - Oahu's residential real estate market is stable, with median sales prices increasing modestly and median days on market below 30 [2] - The industrial vacancy rate in Hawaii is at a historic low of 1.05%, while office and retail vacancy rates are stable [6] Financial Performance - Net interest income increased by $2.8 million in Q3, driven by cash flow repricing and an increase in earning assets [10] - Non-interest income totaled $45.1 million, up $3 million from the previous quarter, with improved performance across various segments [17] - The bank's net income for Q3 was $40.4 million, with earnings per common share rising to $0.93 [19] Capital and Credit Quality - The Tier 1 capital ratio increased to 14.05%, and the total capital ratio rose to 15.11% [20] - The allowance for credit losses on loans and leases ended the quarter at $147.3 million, reflecting a stable credit environment [9] - Non-performing assets increased slightly to 14 basis points, with net charge-offs remaining low at $3.8 million [8][19] Dividend and Shareholder Returns - The bank paid out $28 million in dividends to common shareholders and $3.4 million in preferred stock dividends during the quarter [21] - A dividend of $0.70 per common share was declared for Q4 2024 [21]

Financial Performance - Diluted earnings per common share for the full year 2025 was $4.63, up 33.8% from $3.46 in 2024[3] - Net income for the full year 2025 was $205.9 million, an increase of 37.3% from the previous year[3] - Net income for the twelve months ended December 31, 2025, reached $205,902,000, representing a 37.3% increase compared to $149,994,000 in the prior year[30] - Net income for Q4 2025 reached $60,935, representing a 14.8% increase from $53,345 in Q3 2025 and a 55.5% increase from $39,162 in Q4 2024[36] - Basic earnings per common share for the three months ended December 31, 2025, was $1.40, up 15.7% from $1.21 in the previous quarter and 62.8% from $0.86 year-over-year[30] - Basic earnings per common share for Q4 2025 were $1.40, compared to $1.21 in Q3 2025 and $0.86 in Q4 2024, reflecting a year-over-year increase of 62.8%[35] - Comprehensive income for the twelve months ended December 31, 2025, was $304,853, compared to $203,293 for the same period in 2024, showing a significant increase of 50%[36] Income and Revenue - Net interest income for Q4 2025 was $145.4 million, up 6.4% from the linked quarter and up 21.0% year-over-year[7] - Net interest income for the three months ended December 31, 2025, was $145,374,000, an increase of 6.2% from $136,675,000 in the previous quarter and 21% from $120,178,000 year-over-year[30] - Total noninterest income for the twelve months ended December 31, 2025, was $179,090,000, up 3.3% from $172,529,000 in the previous year[30] - Noninterest income was $44.3 million in Q4 2025, a decrease of 3.7% from the linked quarter but an increase of 2.8% year-over-year[10] - Noninterest income for Q4 2025 was $44,271, slightly down from $45,966 in Q3 2025 but up from $43,047 in Q4 2024[35] - Total interest income for the twelve months ended December 31, 2025, was $887,823, compared to $863,751 for the same period in 2024, reflecting a year-over-year increase of 2.8%[35] Assets and Deposits - Total assets as of December 31, 2025, were $24,176,364,000, an increase from $24,014,609,000 in the previous quarter[30] - Total deposits reached $21.2 billion at December 31, 2025, an increase of 0.5% from the linked quarter and 2.7% year-over-year[20] - Total deposits as of December 31, 2025, were $21,188,495,000, up from $21,080,669,000 in the previous quarter[30] - Total deposits increased to $21,188,495 thousand as of December 31, 2025, up from $21,080,669 thousand on September 30, 2025, representing a growth of 0.52%[48] - Average total deposits for the quarter ending December 31, 2025, were $20,980,199 thousand, compared to $21,068,286 thousand in the previous quarter, indicating a decrease of 0.42%[49] Capital and Ratios - The Tier 1 Capital Ratio was 14.49% at December 31, 2025, up from 14.34% at September 30, 2025[22] - The common equity tier 1 capital ratio as of December 31, 2025, was 12.13%, compared to 11.98% in the previous quarter[34] - The efficiency ratio improved to 57.75% for the three months ended December 31, 2025, compared to 61.53% in the previous quarter and 66.12% year-over-year[30] - Return on average assets increased to 1.01% in Q4 2025, up from 0.88% in Q3 2025[53] - Return on average shareholders' equity improved to 13.33% in Q4 2025, compared to 12.10% in Q3 2025[53] Loans and Credit Quality - Total loans and leases were $14.1 billion at December 31, 2025, flat compared to the same period last year[19] - The total loans and leases as of December 31, 2025, amounted to $14.082 billion, a slight increase from $14.022 billion in the previous quarter and a slight increase from $14.076 billion a year ago[47] - Non-performing assets decreased to $14,171,000 as of December 31, 2025, from $16,864,000 in the previous quarter[30] - The ratio of non-performing assets to total loans and leases was 0.10% as of December 31, 2025, unchanged from the previous quarter[50] - Total non-accrual loans and leases decreased to $13,876 thousand as of December 31, 2025, from $16,739 thousand on September 30, 2025, a decline of 17.00%[50] - The provision for credit losses for the twelve months ended December 31, 2025, was $11,500, compared to $11,150 for the same period in 2024, indicating a slight increase[35] Shareholder Actions - Share repurchases resumed in Q4 2025, with 76.5 thousand shares repurchased at a total cost of $5.0 million[23] - Cash dividends declared for common stock were $112.956 million at a rate of $2.80 per share for the year ended December 31, 2025[39] - The company repurchased common stock under its share repurchase program amounting to $5.001 million in 2025[39] - Total shareholders' equity as of December 31, 2025, was $1,851,212, up from $1,791,183 as of September 30, 2025, reflecting a growth of 3.35%[38] - Total shareholders' equity as of December 31, 2025, increased to $1.851 billion from $1.667 billion in 2024, reflecting a growth of about 11%[39]

分组1 - Bank of Hawaii (BOH) reported quarterly earnings of $1.39 per share, exceeding the Zacks Consensus Estimate of $1.25 per share, and showing an increase from $0.85 per share a year ago, resulting in an earnings surprise of +11.42% [1] - The company achieved revenues of $189.65 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.95%, and up from $163.23 million year-over-year [2] - Bank of Hawaii has consistently outperformed consensus EPS estimates over the last four quarters, with a favorable trend in estimate revisions leading to a Zacks Rank 2 (Buy) for the stock [6] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.26 on revenues of $187.38 million, and for the current fiscal year, it is $5.34 on revenues of $766.68 million [7] - The Banks - West industry, to which Bank of Hawaii belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Central Pacific Financial, another company in the same industry, is expected to report quarterly earnings of $0.73 per share, reflecting a year-over-year change of +4.3%, with revenues anticipated to be $75.4 million, up 29.1% from the previous year [9][10]

Bank of Hawaii Corp. (BOH) reported Monday that net income available to common shareholders for the fourth quarter surged to $55.67 million or $1.39 per share from $33.99 million or $0.85 per share in the prior-year quarter.Provision for credit losses for the quarter totalled $2.50 million, compared to $3.75 million last year.Net interest income for the quarter was $145.37 million, up 21.0 percent from $120.18 million in the year-ago quarter. Total noninterest income grew 2.8 percent to $44.27 million from ...

HONOLULU--(BUSINESS WIRE)--Bank of Hawai'i Corporation (NYSE: BOH) (the "Company†) today reported diluted earnings per common share of $4.63 for the full year of 2025, compared with $3.46 for the full year of 2024. Net income for the year was $205.9 million, up 37.3% from the previous year. The return on average common equity for the full year of 2025 was 13.29% compared with 10.85% in 2024. Diluted earnings per common share was $1.39 for the fourth quarter of 2025, compared with $1.20 during t. ...

Core Viewpoint - Bank of Hawaii (BOH) is well-positioned to continue its earnings-beat streak in the upcoming report, having surpassed earnings estimates consistently in recent quarters [1]. Earnings Performance - For the last reported quarter, Bank of Hawaii achieved earnings of $1.2 per share, exceeding the Zacks Consensus Estimate of $1.13 per share by 6.19% [2]. - In the previous quarter, the company reported earnings of $1.06 per share against an expected $1.04 per share, resulting in a surprise of 1.92% [2]. Earnings Estimates and Predictions - Recent estimates for Bank of Hawaii have been trending upward, with a positive Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [5]. - The Zacks Earnings ESP for Bank of Hawaii is currently +2.20%, reflecting increased analyst optimism regarding its near-term earnings potential [8]. - The combination of a positive Earnings ESP and a Zacks Rank of 2 (Buy) suggests a high probability of another earnings beat [8]. Statistical Insights - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have historically produced a positive surprise nearly 70% of the time, indicating a strong predictive power for earnings performance [6]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate being more reflective of recent analyst revisions [7].

Core Points - South Plains Financial, Inc. has entered into a definitive merger agreement with BOH Holdings, Inc. [1] - The all-stock transaction is valued at approximately $106 million, with a price to tangible book value (P/TBV) of 1.4x [1] - The merger is expected to close between the first and second quarter of 2026, pending customary and shareholder approvals [1] Company Overview - South Plains Financial, Inc. is based in Lubbock, Texas, and is the parent company of City Bank [1] - BOH Holdings, Inc. is based in Houston, Texas, and is the parent company of Bank of Houston [1]

Group 1 - Bank of Hawaii Corporation (BOH) is a regional bank with a strong presence in Hawaii and the southwestern United States [1] - The bank offers common shares and two preferred shares, with previous coverage noted in May [1] - The focus of the analysis is on income investing through common shares, preferred shares, or bonds [1] Group 2 - The author has a background in history/political science and an MBA with a specialization in Finance and Economics [1] - The author has been investing since 2000 and currently serves as the CEO of an independent living retirement community in Illinois [1]

Core Insights - Bank of Hawaii (BOH) is a regional bank with a significant presence in Hawaii and the southwestern United States, offering both common and preferred shares [1] Group 1: Company Overview - Bank of Hawaii has a strong regional presence and focuses on income investing through common shares, preferred shares, or bonds [1] - The bank offers two preferred shares, which were previously covered in May [1] Group 2: Analyst Background - The analyst has a background in history/political science and holds an MBA with a specialization in Finance and Economics, indicating a strong foundation in financial analysis [1] - The analyst has been investing since 2000 and currently targets two articles per week for publication [1]

Core Viewpoint - Bank of Hawaii's stock has underperformed compared to the S&P 500, raising questions about its investment potential and risk profile [1] Group 1: Financial Performance - Bank of Hawaii's net interest income has plateaued over the last five years, showing no growth compared to the broader banking industry [4] - The bank's net interest margin (NIM) averaged a low 2.3% over the past two years, indicating weak profitability of its loan book [6] - Tangible book value per share (TBVPS) has seen a modest annual growth of 1.4% over five years, but it accelerated to 10.7% annually in the last two years, increasing from $28.99 to $35.56 per share [8] Group 2: Valuation and Market Position - Bank of Hawaii's shares are trading at 1.7 times forward price-to-book (P/B) ratio, suggesting that the stock is priced with a lot of positive expectations already factored in [9] - Despite not being a poor business, Bank of Hawaii does not meet the quality investment criteria, and there may be better opportunities available in the market [9]