Bank of Hawaii Corporation reported a net income of $53.3 million for the third quarter of 2025, marking a 32% increase from $40.4 million in the same period last year. The diluted earnings per share rose to $1.20, up from $0.93 in the prior year. The company's net interest income also saw a significant increase, reaching $136.7 million, a 16% rise compared to the previous year, driven by a higher net interest margin of 2.46%, which improved by 28 basis points year-over-year.
In terms of overall financial performance, total assets increased to $24.0 billion as of September 30, 2025, up 1.8% from $23.6 billion at the end of 2024. Total loans and leases decreased slightly to $14.0 billion, a 0.4% decline from the previous year, while total deposits rose to $21.1 billion, reflecting a 2.2% increase. The allowance for credit losses stood at $148.8 million, representing 1.06% of total loans, consistent with the previous quarter.
Strategically, the company announced the sale of its merchant services portfolio on October 1, 2025, which is expected to yield a one-time gain of approximately $18 million in the fourth quarter. Additionally, the company declared a quarterly cash dividend of $0.70 per share on its common stock, payable on December 12, 2025. The Board also declared dividends on its preferred stock, reflecting ongoing commitment to returning value to shareholders.
Operationally, Bank of Hawaii's customer engagement metrics remained stable, with a slight increase in the number of common shares outstanding to 39,785,201 as of October 21, 2025. The company continues to focus on maintaining a strong liquidity position, with cash and cash equivalents totaling $985.2 million. The bank's capital ratios remain robust, with a Common Equity Tier 1 Capital Ratio of 11.98% as of September 30, 2025, indicating a well-capitalized status.
Looking ahead, Bank of Hawaii anticipates continued challenges from economic conditions, including inflation and potential changes in federal policies. However, the company remains committed to prudent risk management and capital strategies to navigate these uncertainties. The management expressed confidence in the bank's ability to adapt to changing market conditions while delivering value to its stakeholders.
About BANK OF HAWAII CORP
Bank of Hawaii Corporation is a bank holding company headquartered in Honolulu, serving primarily Hawaii, Guam, and Pacific Islands. Its core business includes consumer and commercial banking, treasury services, securities brokerage, investment advisory, and credit insurance through subsidiaries. The company leverages an extensive branch network and local market expertise to provide financial products and services to individuals, businesses, and institutions, emphasizing strong community relationships and regulatory compliance.
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