Welcome to our dedicated page for Bank Hawaii news (Ticker: BOH), a resource for investors and traders seeking the latest updates and insights on Bank Hawaii stock.
Overview of Bank of Hawaii Corp
Bank of Hawaii Corp (BOH) stands as the central subsidiary of a storied financial institution, founded in 1897, now representing the largest independent financial organization in Hawaii. With an established presence in Hawaii, Guam, American Samoa, and other West Pacific regions, the company is a significant provider of a broad range of financial products and services. Emphasizing essential industry keywords such as regional banking, commercial banking, and investment advisory, the institution offers a deep legacy of financial expertise and market understanding.
Business Model and Core Offerings
The company operates through well-defined business segments that serve distinct customer needs:
- Consumer Banking: This segment forms the backbone of the revenue streams by offering various services such as loans, deposits, insurance products, private banking, international client banking, and trust services. The focus here is to provide tailored solutions that meet the daily financial needs of individual consumers while also addressing the complex requirements of international clientele.
- Commercial Banking: Targeting businesses and governmental entities, this segment delivers specialized credit products, cash management services, and financial advisory solutions. It plays a vital role in fostering regional economic growth by supporting enterprises across multiple industries.
- Treasury and Other Services: Encompassing operations such as equipment leasing, securities brokerage, and structured investment advisory services, this section of the business model diversifies the income base. It creates additional value for the firm through non-traditional banking services that cater to niche markets, including institutional clients and specialized investors.
Market Position and Competitive Landscape
Bank of Hawaii Corp's strong regional focus has cemented its position as a key financial institution in a competitive market dominated by both local and larger national banks. The institution differentiates itself by combining extensive local expertise with a broad portfolio of financial services. Its long-standing history not only reinforces customer trust but also demonstrates a deep understanding of the unique economic and cultural dynamics present in the Pacific region. The company’s comprehensive range of services—from traditional banking to sophisticated investment advisory—positions it as a diversified financial services provider capable of adapting to a varied clientele.
Operational Excellence and Industry Expertise
The strength of Bank of Hawaii Corp lies in its robust operational framework and deep-rooted industry knowledge. The firm employs advanced risk management practices and regulatory adherence while delivering customized financial solutions. Such expertise fosters an environment of trust and reliability, critical components in the finance industry. By maintaining operational excellence, the company ensures consistent service quality, which is invaluable for both retail and institutional customers.
Service Regions and Customer Focus
With a strategic emphasis on the islands of Hawaii, Guam, and other areas in the West Pacific, this financial institution has tailored its services to meet the distinct economic and cultural needs of diverse communities. The customer base includes individual consumers, small and medium-sized enterprises, larger corporate clients, and government agencies. The localized service approach enhances community engagement and reinforces Bank of Hawaii Corp's commitment to the regions it serves.
Conclusion
In summary, Bank of Hawaii Corp embodies a multifaceted financial institution with a rich history and comprehensive service offerings. Its operational structure, divided into consumer, commercial, and treasury segments, allows it to meet the varied financial demands of its customer base while bolstering its reputation as a committed regional bank. The company continues to forge a resilient identity through its deep market insights, strategic service diversification, and unwavering focus on customer care.
Bank of Hawaii (BOH) reported its Q4 and full-year 2024 financial results. Full-year net income was $150.0 million, down 12.4% from 2023, with diluted EPS of $3.46 compared to $4.14 in 2023. Q4 2024 net income was $39.2 million with EPS of $0.85.
The bank's net interest margin was 2.19% in Q4 2024, up 1 basis point from Q3. Total assets stood at $23.6 billion with total deposits of $20.6 billion at year-end. The loan portfolio reached $14.1 billion, showing a 1.1% increase from Q3 2024.
Asset quality remained strong with non-performing assets at $19.3 million (0.14% of total loans). The Board declared a quarterly dividend of $0.70 per common share. The bank's capital position remained robust with a Tier 1 Capital Ratio of 13.95% at year-end.
Bank of Hawai'i (NYSE: BOH) has announced it will release its fourth quarter 2024 financial results on Monday, January 27, 2025, before market opens. The company will hold its quarterly conference call at 1:00 p.m. Eastern Time on the same day, featuring a slide presentation accessible through their website.
Additionally, the Board of Directors has declared quarterly dividend payments for its preferred stock series: $10.94 per share ($0.2735 per depositary share) for Series A (BOH.PRA) and $20.00 per share ($0.5000 per depositary share) for Series B (BOH.PRB). Both dividends will be payable on February 3, 2025, to shareholders of record as of January 17, 2025.
Bank of Hawaii (BOH) reported Q3 2024 net income of $40.4 million, with diluted earnings per share of $0.93, up from $0.81 in Q2 but down from $1.17 year-over-year. Net interest income reached $117.6 million, increasing 2.4% quarter-over-quarter but decreasing 2.7% year-over-year. The bank's total assets stood at $23.8 billion with total deposits of $21.0 billion. Net interest margin was 2.18%, up 3 basis points from Q2. The Board declared a quarterly dividend of $0.70 per common share. Asset quality remained strong with non-performing assets at $19.8 million, representing 0.14% of total loans and leases.
Bank of Hawai'i (NYSE: BOH) has announced its plans to release third quarter 2024 financial results on Monday, October 28, 2024 before the market opens. The company will hold its quarterly conference call at 2:00 p.m. Eastern Time (8:00 a.m. Hawai'i Time) on the same day. Investors can access the live call and slide presentation through the company's website at www.boh.com.
Additionally, the Board of Directors has declared quarterly dividend payments for its preferred stock series. The Series A Preferred Stock will receive $10.94 per share ($0.2735 per depositary share), while the Series B Preferred Stock will receive $20.00 per share ($0.5000 per depositary share). Both dividends will be payable on November 1, 2024 to shareholders of record as of October 17, 2024.
Bank of Hawai'i (BOH) has become the new fund sponsor for Hawaiian Tax-Free Trust, Hawai'i's first municipal bond fund, taking over from New York-based Aquila Management BOH's Asset Management Group will continue to serve as the investment advisor, managing the fund's portfolio assets since its inception in 1985. As the new fund sponsor, BOH will provide more local leadership for this fund designed for Hawai'i residents.
The Hawaiian Tax-Free Trust invests in securities financing local infrastructure projects, such as schools, highways, airports, and water facilities. It aims to provide income exempt from both State of Hawai'i and Federal income taxes while preserving capital. This transition marks a significant shift in the fund's management, bringing it fully under local control.
Bank of Hawai'i (NYSE: BOH) reported Q2 2024 financial results with diluted earnings per common share of $0.81, down from $0.87 in Q1 2024 and $1.12 in Q2 2023. Net income was $34.1 million, a 6.3% decrease from the previous quarter and 26.0% from Q2 2023. The company faced a $2.6 million FDIC Special Assessment charge, impacting EPS by $0.05. Net interest margin increased to 2.15%, up 4 basis points from Q1. Credit quality remained strong with non-performing assets at 0.11%. The company successfully raised $165 million through a preferred stock offering, strengthening its capital position. The Board declared a dividend of $0.70 per common share.
Bank of Hawai'i (BOH) has announced key leadership changes. James C. Polk has been promoted to President of Bank of Hawai'i and its primary operating subsidiary. Polk, with 25 years at BOH and over 35 years in financial services, will oversee all revenue-generating businesses, including Commercial Banking, Merchant Services, Cash Management, Wealth Management, and now Retail Banking.
Additionally, Matthew K.M. Emerson has been appointed Chief Retail Banking Officer. Emerson, who joined BOH in 2010, will be responsible for Consumer Banking products, Branch Banking, and the Contact Center. Both executives will report to Peter S. Ho, who continues as Chairman and CEO.
Bank of Hawai‘i (NYSE: BOH) will release its Q2 2024 financial results on July 22, 2024, before market opens. A conference call is scheduled at 2:00 p.m. ET (8:00 a.m. HT) on the same day, accessible via the company's website. A replay will be available for one year starting approximately 11:00 a.m. HT on July 22, 2024.
The Board declared quarterly dividends of $10.94 per share for Series A Preferred Stock ($0.2735 per depositary share) and $8.89 per share for Series B Preferred Stock ($0.2223 per depositary share). Dividends will be payable on August 1, 2024, to shareholders of record as of July 18, 2024.
The Series A and B Preferred Stocks trade on NYSE under symbols “BOH.PRA” and “BOH.PRB”. Bank of Hawai‘i , founded in 1897, offers regional financial services in Hawai‘i and the West Pacific.
Bank of Hawai‘i (NYSE: BOH) announced the pricing of a public offering of 6,600,000 depositary shares, each representing 1/40th ownership in an 8.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. This offering aims to generate gross proceeds of $165 million, with each preferred stock share having a $1,000 liquidation preference, translating to $25 per depositary share. The offering is set to close on June 21, 2024, provided customary closing conditions are met.
The net proceeds, estimated at $162 million after deducting underwriting discounts and commissions, will be used for general corporate purposes, including supporting asset growth. Joint-book running managers for the offering include BofA Securities, J.P. Morgan Securities, Keefe, Bruyette & Woods, and Wells Fargo Securities. The company will apply to list the depositary shares on the NYSE under the symbol 'BOHPrB'.
This announcement does not constitute an offer to sell or a solicitation to buy the securities, which have not been approved or disapproved by any regulatory authority.
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