Bank of Hawaii Corporation Financial Statements

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Bank of Hawaii Corporation Financial Statements

Bank of Hawaii Corporation Financial Statements

Condensed financial statements of the Parent were as follows:

Condensed Statements of Comprehensive Income

	Year Ended December 31,
(dollars in thousands)	2017			2016			2015
Income
Dividends from Bank of Hawaii	$	130,000		$	120,000		$	115,000
Investment Securities Gains (Losses), Net	12,027			(340		)	9,870
Other Income	204			279			973
Total Income	142,231			119,939			125,843
Noninterest Expense
Intercompany Salaries and Services	720			705			651
Other Expenses	1,401			1,392			2,325
Total Noninterest Expense	2,121			2,097			2,976
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries	140,110			117,842			122,867
Income Tax Benefit (Expense)	(3,557		)	2,137			(1,670		)
Equity in Undistributed Income of Subsidiaries	48,119			61,482			39,507
Net Income	$	184,672		$	181,461		$	160,704
Comprehensive Income	$	183,863		$	171,112		$	163,833

Condensed Statements of Condition

(dollars in thousands)	December 31, 2017		December 31, 2016
Assets
Cash with Bank of Hawaii	$	49,669	$	51,915
Investment Securities Held-to-Maturity	4,986		4,973
Goodwill	14,129		14,129
Income Taxes Receivable and Deferred Tax Assets	2,567		2,071
Other Assets	8,233		7,744
Equity in Net Assets of Subsidiaries	1,161,037		1,095,077
Total Assets	$	1,240,621	$	1,175,909
Liabilities
Income Taxes Payable	$	517	$	6,273
Other Liabilities	8,236		8,099
Total Liabilities	8,753		14,372
Shareholders' Equity	1,231,868		1,161,537
Total Liabilities and Shareholders' Equity	$	1,240,621	$	1,175,909

Condensed Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2017			2016			2015
Operating Activities
Net Income	$	184,672		$	181,461		$	160,704
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Share-Based Compensation	573			558			639
Net (Gains) Losses on Sales of Investment Securities	(12,027		)	340			(9,870		)
Equity in Undistributed Income of Subsidiaries	(48,119		)	(61,482		)	(39,507		)
Net Change in Other Assets and Other Liabilities	(6,477		)	1,508			(481		)
Net Cash Provided by Operating Activities	118,622			122,385			111,485
Investing Activities
Capital Distribution from BOHC Investment Fund LLC	613			—			—
Capital Contributions to the Bank	(12,467		)	—			(10,179		)
Proceeds from (Expenses related to) Sales of Investment Securities	12,027			(340		)	9,870
Net Cash Provided by (Used in) Investing Activities	173			(340		)	(309		)
Financing Activities
Proceeds from Issuance of Common Stock	13,101			9,079			15,364
Repurchase of Common Stock	(47,076		)	(61,807		)	(52,981		)
Cash Dividends Paid	(87,066		)	(81,157		)	(78,367		)
Net Cash Used in Financing Activities	(121,041		)	(133,885		)	(115,984		)
Net Change in Cash and Cash Equivalents	(2,246		)	(11,840		)	(4,808		)
Cash and Cash Equivalents at Beginning of Period	51,915			63,755			68,563
Cash and Cash Equivalents at End of Period	$	49,669		$	51,915		$	63,755