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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay Versus Performance Disclosure
In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our CEO and Non-CEO NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. More information on the Company’s compensation program and decisions for the 2022 performance year can be found in the “Compensation Discussion and Analysis” included in this Proxy Statement.
Summary
Compensation
Table Total
for CEO
(1)
($)
Compensation
Actually Paid
to CEO
(1)(2)
($)
Average
Summary
Compensation
Table Total for
Non-CEO NEOs
(1)
($)
Average
Compensation
Actually Paid to
Non-CEO NEOs
(1)(2)
($)
Value of Initial
Fixed $100
Investment
based on:
(3)
Net Income
($ Millions)
(4)
Core Return on
Average Tangible
Stockholders’
Equity (%)
(5)
Year
TSR
($)
Peer
Group TSR
($)
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
2022
4,551,135
5,768,293
1,272,234
1,029,347
102.79
116.10
266
20.2
2021
4,427,813
4,769,225
1,354,207
1,430,129
103.73
124.74
266
16.3
2020
5,651,505 2,819,314 1,181,879 922,849 86.21 91.29 186 11.1
(1)
Robert S. Harrison was our CEO for each year presented. The individuals comprising the Non-CEO NEOs for each year presented are listed below.
2020
2021
2022
Alan H. Arizumi
Alan H. Arizumi
Alan H. Arizumi
Ravi Mallela
Ravi Mallela
Christopher L. Dods
Ralph M. Mesick
Ralph M. Mesick
Ravi Mallela
Lance A. Mizumoto
Lance A. Mizumoto
Ralph M. Mesick
Mitchell E. Nishimoto
Lance A. Mizumoto
(2)
Compensation Actually Paid reflects the Summary Compensation Table Total with certain exclusions and inclusions of certain amounts for the CEO and the Non-CEO NEOs in accordance with Item 402(v) of Regulation S-K as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column reflect the aggregate grant date fair value of all equity awards reported in the Stock Awards column set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year.
Year
Summary
Compensation
Table Total
for CEO
($)
Exclusion of
Change in
Pension Value
for CEO
($)
Exclusion of
Stock Awards
for CEO
($)
Inclusion of
Pension Service
Cost for CEO
($)
Inclusion of
Equity Values
for CEO
($)
Compensation
Actually Paid
to CEO
($)
2022 4,551,135 (1,999,986) 3,217,144 5,768,293
2021 4,427,813 (1,999,976) 2,341,388 4,769,225
2020 5,651,505 (1,874,412) (1,999,984) 1,042,205 2,819,314
Year
Average
Summary
Compensation
Table Total
for Non-CEO
NEOs
($)
Average
Exclusion of
Change in
Pension Value
for Non-CEO
NEOs
($)
Average
Exclusion of
Stock Awards
for Non-CEO
NEOs
($)
Average
Inclusion of
Pension Service
Cost for Non-CEO
NEOs
($)
Average
Inclusion of
Equity Values
for Non-CEO
NEOs
($)
Average
Compensation
Actually Paid
to Non-CEO
NEOs
($)
2022 1,272,234 (349,988) 107,101 1,029,347
2021 1,354,207 (391,985) 467,907 1,430,129
2020 1,181,879 (442,488) 183,458 922,849
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Year
Year-End Fair Value
of Equity Awards
Granted During
Year That Remained
Unvested as of Last
Day of Year for CEO
($)
Change in Fair
Value from Last Day
of Prior Year to Last
Day of Year of
Unvested Equity
Awards for CEO
($)
Change in Fair
Value from Last Day
of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for CEO
($)
Fair Value at Last
Day of Prior Year of
Equity Awards
Forfeited During
Year for CEO
($)
Total – Inclusion of
Equity Values for
CEO
($)
2022 2,316,288 737,481 163,375 3,217,144
2021 1,846,760 360,544 134,084 2,341,388
2020 1,947,850 (627,344) (278,301) 1,042,205
Year
Average Year-End
Fair Value of Equity
Awards Granted
During Year That
Remained Unvested
as of Last Day of
Year for Non-CEO
NEOs
($)
Average Change in
Fair Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for Non-CEO
NEOs
($)
Average Change in
Fair Value from Last
Day of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for
Non-CEO NEOs
($)
Average Fair Value
at Last Day of Prior
Year of Equity
Awards Forfeited
During Year for
Non-CEO NEOs
($)
Total – Average
Inclusion of
Equity Values for
Non-CEO NEOs
($)
2022 405,340 103,608 16,590 (418,437) 107,101
2021 389,490 66,030 41,829 (29,442) 467,907
2020 430,942 (177,191) (70,293) 183,458
(3)
The Peer Group TSR set forth in this table utilizes the KBW Regional Banking Index (“KRX”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the KRX, respectively. Historical stock performance is not necessarily indicative of future stock performance.
(4)
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. Result is rounded to the nearest million dollars.
(5)
We determined Core Return on Average Tangible Stockholders’ Equity to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our CEO and Non-CEO NEOs in 2022, as required pursuant to Item 402(v) of Regulation S-K. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years. Core Return on Average Tangible Stockholders’ Equity is a non-GAAP financial measure. We compute our Core Return on Average Tangible Stockholders’ Equity as the ratio of core net income to average tangible stockholders’ equity, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total common equity. Please see Annex A for further explanation and a reconciliation.
EXECUTIVE COMPENSATION
   
Company Selected Measure Name Core Return on Average Tangible Stockholders’ Equity    
Named Executive Officers, Footnote [Text Block]
(1)
Robert S. Harrison was our CEO for each year presented. The individuals comprising the Non-CEO NEOs for each year presented are listed below.
2020
2021
2022
Alan H. Arizumi
Alan H. Arizumi
Alan H. Arizumi
Ravi Mallela
Ravi Mallela
Christopher L. Dods
Ralph M. Mesick
Ralph M. Mesick
Ravi Mallela
Lance A. Mizumoto
Lance A. Mizumoto
Ralph M. Mesick
Mitchell E. Nishimoto
Lance A. Mizumoto
   
Peer Group Issuers, Footnote [Text Block]
(3)
The Peer Group TSR set forth in this table utilizes the KBW Regional Banking Index (“KRX”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the KRX, respectively. Historical stock performance is not necessarily indicative of future stock performance.
   
PEO Total Compensation Amount $ 4,551,135 $ 4,427,813 $ 5,651,505
PEO Actually Paid Compensation Amount $ 5,768,293 4,769,225 2,819,314
Adjustment To PEO Compensation, Footnote [Text Block]
(2)
Compensation Actually Paid reflects the Summary Compensation Table Total with certain exclusions and inclusions of certain amounts for the CEO and the Non-CEO NEOs in accordance with Item 402(v) of Regulation S-K as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column reflect the aggregate grant date fair value of all equity awards reported in the Stock Awards column set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year.
Year
Summary
Compensation
Table Total
for CEO
($)
Exclusion of
Change in
Pension Value
for CEO
($)
Exclusion of
Stock Awards
for CEO
($)
Inclusion of
Pension Service
Cost for CEO
($)
Inclusion of
Equity Values
for CEO
($)
Compensation
Actually Paid
to CEO
($)
2022 4,551,135 (1,999,986) 3,217,144 5,768,293
2021 4,427,813 (1,999,976) 2,341,388 4,769,225
2020 5,651,505 (1,874,412) (1,999,984) 1,042,205 2,819,314
Year
Average
Summary
Compensation
Table Total
for Non-CEO
NEOs
($)
Average
Exclusion of
Change in
Pension Value
for Non-CEO
NEOs
($)
Average
Exclusion of
Stock Awards
for Non-CEO
NEOs
($)
Average
Inclusion of
Pension Service
Cost for Non-CEO
NEOs
($)
Average
Inclusion of
Equity Values
for Non-CEO
NEOs
($)
Average
Compensation
Actually Paid
to Non-CEO
NEOs
($)
2022 1,272,234 (349,988) 107,101 1,029,347
2021 1,354,207 (391,985) 467,907 1,430,129
2020 1,181,879 (442,488) 183,458 922,849
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Year
Year-End Fair Value
of Equity Awards
Granted During
Year That Remained
Unvested as of Last
Day of Year for CEO
($)
Change in Fair
Value from Last Day
of Prior Year to Last
Day of Year of
Unvested Equity
Awards for CEO
($)
Change in Fair
Value from Last Day
of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for CEO
($)
Fair Value at Last
Day of Prior Year of
Equity Awards
Forfeited During
Year for CEO
($)
Total – Inclusion of
Equity Values for
CEO
($)
2022 2,316,288 737,481 163,375 3,217,144
2021 1,846,760 360,544 134,084 2,341,388
2020 1,947,850 (627,344) (278,301) 1,042,205
Year
Average Year-End
Fair Value of Equity
Awards Granted
During Year That
Remained Unvested
as of Last Day of
Year for Non-CEO
NEOs
($)
Average Change in
Fair Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for Non-CEO
NEOs
($)
Average Change in
Fair Value from Last
Day of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for
Non-CEO NEOs
($)
Average Fair Value
at Last Day of Prior
Year of Equity
Awards Forfeited
During Year for
Non-CEO NEOs
($)
Total – Average
Inclusion of
Equity Values for
Non-CEO NEOs
($)
2022 405,340 103,608 16,590 (418,437) 107,101
2021 389,490 66,030 41,829 (29,442) 467,907
2020 430,942 (177,191) (70,293) 183,458
   
Non-PEO NEO Average Total Compensation Amount $ 1,272,234 1,354,207 1,181,879
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,029,347 1,430,129 922,849
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(2)
Compensation Actually Paid reflects the Summary Compensation Table Total with certain exclusions and inclusions of certain amounts for the CEO and the Non-CEO NEOs in accordance with Item 402(v) of Regulation S-K as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column reflect the aggregate grant date fair value of all equity awards reported in the Stock Awards column set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year.
Year
Summary
Compensation
Table Total
for CEO
($)
Exclusion of
Change in
Pension Value
for CEO
($)
Exclusion of
Stock Awards
for CEO
($)
Inclusion of
Pension Service
Cost for CEO
($)
Inclusion of
Equity Values
for CEO
($)
Compensation
Actually Paid
to CEO
($)
2022 4,551,135 (1,999,986) 3,217,144 5,768,293
2021 4,427,813 (1,999,976) 2,341,388 4,769,225
2020 5,651,505 (1,874,412) (1,999,984) 1,042,205 2,819,314
Year
Average
Summary
Compensation
Table Total
for Non-CEO
NEOs
($)
Average
Exclusion of
Change in
Pension Value
for Non-CEO
NEOs
($)
Average
Exclusion of
Stock Awards
for Non-CEO
NEOs
($)
Average
Inclusion of
Pension Service
Cost for Non-CEO
NEOs
($)
Average
Inclusion of
Equity Values
for Non-CEO
NEOs
($)
Average
Compensation
Actually Paid
to Non-CEO
NEOs
($)
2022 1,272,234 (349,988) 107,101 1,029,347
2021 1,354,207 (391,985) 467,907 1,430,129
2020 1,181,879 (442,488) 183,458 922,849
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Year
Year-End Fair Value
of Equity Awards
Granted During
Year That Remained
Unvested as of Last
Day of Year for CEO
($)
Change in Fair
Value from Last Day
of Prior Year to Last
Day of Year of
Unvested Equity
Awards for CEO
($)
Change in Fair
Value from Last Day
of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for CEO
($)
Fair Value at Last
Day of Prior Year of
Equity Awards
Forfeited During
Year for CEO
($)
Total – Inclusion of
Equity Values for
CEO
($)
2022 2,316,288 737,481 163,375 3,217,144
2021 1,846,760 360,544 134,084 2,341,388
2020 1,947,850 (627,344) (278,301) 1,042,205
Year
Average Year-End
Fair Value of Equity
Awards Granted
During Year That
Remained Unvested
as of Last Day of
Year for Non-CEO
NEOs
($)
Average Change in
Fair Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for Non-CEO
NEOs
($)
Average Change in
Fair Value from Last
Day of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for
Non-CEO NEOs
($)
Average Fair Value
at Last Day of Prior
Year of Equity
Awards Forfeited
During Year for
Non-CEO NEOs
($)
Total – Average
Inclusion of
Equity Values for
Non-CEO NEOs
($)
2022 405,340 103,608 16,590 (418,437) 107,101
2021 389,490 66,030 41,829 (29,442) 467,907
2020 430,942 (177,191) (70,293) 183,458
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
Description of Relationship Between CEO and Non-CEO NEO Compensation Actually Paid and Company Total Shareholder Return (“TSR”)
The following chart sets forth the relationship between Compensation Actually Paid to our CEO, the average of Compensation Actually Paid to our Non-CEO NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years.
[MISSING IMAGE: bc_tsr-pn.jpg]
   
Compensation Actually Paid vs. Net Income [Text Block]
Description of Relationship Between CEO and Non-CEO NEO Compensation Actually Paid and Net Income
The following chart sets forth the relationship between Compensation Actually Paid to our CEO, the average of Compensation Actually Paid to our Non-CEO NEOs, and our net income during the three most recently completed fiscal years.
[MISSING IMAGE: bc_netincome-pn.jpg]
   
Compensation Actually Paid vs. Company Selected Measure [Text Block]
Description of Relationship Between CEO and Non-CEO NEO Compensation Actually Paid and Core Return on Average Tangible Stockholders’ Equity
The following chart sets forth the relationship between Compensation Actually Paid to our CEO, the average of Compensation Actually Paid to our Non-CEO NEOs, and our Core Return on Average Tangible Stockholders’ Equity during the three most recently completed fiscal years. Core Return on Average Tangible Stockholders’ Equity is a non-GAAP financial measure. Please see Annex A for further explanation and a reconciliation.
[MISSING IMAGE: bc_corereturn-pn.jpg]
   
Total Shareholder Return Vs Peer Group [Text Block]
Description of Relationship Between Company TSR and Peer Group TSR
The following chart compares our cumulative TSR over the three most recently completed fiscal years to that of the KBW Regional Banking Index over the same period.
[MISSING IMAGE: lc_banking-pn.jpg]
   
Tabular List [Table Text Block]
Tabular List of Most Important Financial Performance Measures
The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our CEO and other NEOs for 2022 to Company performance. The measures in this table are not ranked.
Core Return on Average Tangible Stockholders’ Equity
Core
Return on Average Tangible Assets
Core
Net Income
Efficiency
Ratio
Total
Shareholder Return
   
Total Shareholder Return Amount $ 102.79 103.73 86.21
Peer Group Total Shareholder Return Amount 116.1 124.74 91.29
Net Income (Loss) $ 266,000,000 $ 266,000,000 $ 186,000,000
Company Selected Measure Amount 20.2 16.3 11.1
PEO Name Robert S. Harrison    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Core Return on Average Tangible Stockholders’ Equity    
Non-GAAP Measure Description [Text Block]
We determined Core Return on Average Tangible Stockholders’ Equity to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our CEO and Non-CEO NEOs in 2022, as required pursuant to Item 402(v) of Regulation S-K. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years. Core Return on Average Tangible Stockholders’ Equity is a non-GAAP financial measure. We compute our Core Return on Average Tangible Stockholders’ Equity as the ratio of core net income to average tangible stockholders’ equity, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total common equity. Please see Annex A for further explanation and a reconciliation.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Core Return on Average Tangible Assets    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Core Net Income    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Efficiency Ratio    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name Total Shareholder Return    
PEO [Member] | Stock Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 1,999,986 $ 1,999,976 $ 1,999,984
PEO [Member] | Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 3,217,144 2,341,388 1,042,205
PEO [Member] | Change in Pension Value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     1,874,412
PEO [Member] | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,316,288 1,846,760 1,947,850
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 737,481 360,544 (627,344)
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 163,375 134,084 (278,301)
PEO [Member] | Total – Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 3,217,144 2,341,388 1,042,205
Non-PEO NEO [Member] | Average Exclusion of Stock Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 349,988 391,985 442,488
Non-PEO NEO [Member] | Average Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 107,101 467,907 183,458
Non-PEO NEO [Member] | Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 405,340 389,490 430,942
Non-PEO NEO [Member] | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 103,608 66,030 (177,191)
Non-PEO NEO [Member] | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 16,590 41,829 (70,293)
Non-PEO NEO [Member] | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (418,437) (29,442)  
Non-PEO NEO [Member] | Total – Average Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 107,101 $ 467,907 $ 183,458