Bank of Hawaii Corporation reported a net income of $44.0 million for the first quarter of 2025, reflecting a 21% increase from $36.4 million in the same period last year. This growth translated to diluted earnings per share of $0.97, up from $0.87 in the prior year. The bank's net interest income rose to $125.8 million, a 10% increase compared to the first quarter of 2024, driven by a higher net interest margin of 2.32%, which improved by 21 basis points year-over-year. The provision for credit losses also increased to $3.3 million from $2.0 million, indicating a cautious approach amid evolving economic conditions.
Total assets for the bank reached $23.9 billion as of March 31, 2025, marking a 1.2% increase from $23.6 billion at the end of 2024. The bank's loan and lease portfolio grew slightly to $14.1 billion, up 0.3% from the previous quarter, with notable increases in commercial loans, particularly in the construction sector. Total deposits increased by 1.8% to $21.0 billion, supported by growth in both consumer and commercial deposits. The allowance for credit losses decreased marginally to $147.7 million, representing 1.05% of total loans and leases.
In terms of operational developments, Bank of Hawaii maintained a strong capital position, with total shareholders' equity rising to $1.7 billion, a 2% increase from the previous quarter. The bank declared a quarterly cash dividend of $0.70 per share, consistent with prior distributions, and announced preferred stock dividends of $10.94 and $20.00 per share for Series A and B, respectively. The bank's focus on maintaining a robust liquidity position is evident, with cash and cash equivalents totaling $935.2 million and significant borrowing capacity available through the Federal Home Loan Bank and the Federal Reserve.
Looking ahead, Bank of Hawaii's management expressed optimism about the economic environment in Hawai‘i, despite potential disruptions from changes in trade policies and federal spending cuts. The bank's strategy remains centered on leveraging its market knowledge and prudent management to deliver value to stakeholders while navigating the challenges posed by inflation and interest rate fluctuations. The bank's commitment to supporting local communities and maintaining strong financial results will guide its operations in the coming quarters.
About BANK OF HAWAII CORP
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.