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Bank of Hawaii Corp. (BOH) is the largest independent financial institution in Hawaii, established in 1897. As the primary subsidiary of Bank of Hawaii Corporation, it serves a diverse range of clients including businesses, consumers, and governments across Hawaii, American Samoa, and the West Pacific.
Bank of Hawaii provides a comprehensive range of financial products and services predominantly to customers in Hawaii, Guam, and other Pacific Islands. The company is structured into three main business segments:
- Consumer Banking: This segment generates the majority of the revenue and offers an array of financial products and services such as loans, deposit products, insurance, private banking, trust services, and investment management.
- Commercial Banking: Offering tailored financial solutions to businesses and institutions, it includes commercial loans, real estate finance, and treasury management services.
- Treasury and Other: This segment focuses on asset and liability management, investment securities portfolio, and other financial operations.
Additionally, Bank of Hawaii subsidiaries engage in equipment leasing, securities brokerage, investment advisory services, and providing credit insurance.
Recent Achievements and Current Projects: Bank of Hawaii has recently made strides in digital transformation to enhance customer experience. The institution launched multiple online and mobile banking features to provide more convenient and secure access to its services. Furthermore, the company continues to expand its financial education initiatives and community outreach programs, reinforcing its commitment to supporting the local communities.
The company remains financially strong, backed by a sound capital position and a diversified revenue stream. Partnerships with local businesses and international financial entities continue to bolster its market presence, ensuring robust service delivery and innovative product offerings.
Bank of Hawai‘i Corporation (NYSE: BOH) reported diluted earnings per common share of $1.14 for Q1 2023, down from $1.50 in Q4 2022 and $1.32 in Q1 2022. Net income fell 23.6% quarter-over-quarter to $46.8 million. Average deposits rose 0.4% linked quarter, but total deposits decreased 0.6% from Q4 2022. Loans increased 1.3% linked quarter, with non-performing assets down to $12.1 million. Net interest income was $136.0 million, down 3.4% from the previous quarter but up 8.5% year-over-year. The company declared a quarterly dividend of $0.70 per share. The Tier 1 Capital Ratio stood at 12.10%, slightly down from the previous quarter. Overall asset quality remains strong, but credit losses increased compared to the previous quarter.
Bank of Hawai‘i Corporation (NYSE: BOH) will release its first quarter 2023 financial results on April 24, 2023, before market opening. A quarterly conference call will take place at 2:00 p.m. Eastern Time on the same day, with a live webcast available on their website. A replay will be accessible for one year starting from 11:00 a.m. Hawai‘i Time on April 24. Additionally, the Board of Directors declared a quarterly dividend of
Bank of Hawai‘i Corporation (NYSE: BOH) reported a diluted EPS of $5.48 for 2022, down from $6.25 in 2021. Net income decreased by 10.9% to $225.8 million. For Q4 2022, diluted EPS was $1.50, up 17.2% from the previous quarter but down 4.0% year-over-year. Q4 net income totaled $61.3 million. The bank declared a dividend of $0.70 per share. Key metrics included a return on average assets of 0.98% and a return on equity of 17.83% for 2022. Total assets reached $23.6 billion, and loans and leases increased by 11.3% YoY to $13.6 billion. The Tier 1 Capital Ratio was 12.15%, down from 13.56% a year prior.
Bank of Hawai‘i Corporation (NYSE: BOH) will release its fourth quarter 2022 financial results on January 23, 2023, before the market opens. A conference call will be held at 1:00 p.m. Eastern Time on the same day, accessible via the company's investor relations website. Additionally, the Board of Directors declared a quarterly dividend of $10.94 per share for its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on February 1, 2023, to shareholders of record as of January 17, 2023.
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