Bank of Hawai‘i Corporation Financial Statements (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Statements of Income (Loss)

Condensed Statements of Comprehensive Income (Loss)

	Year Ended December 31,
(dollars in thousands)	2023			2022			2021
Income
Dividends from Bank of Hawai‘i	$	137,000		$	182,000		$	62,000
Investment Securities Losses, Net		(1,394	)		(1,195	)		(948	)
Other Income and Interest on Investment		6			6			6
Total Income		135,612			180,811			61,058
Noninterest Expense
Intercompany Salaries and Services		1,140			1,121			764
Other Expenses		2,409			2,240			1,787
Total Noninterest Expense		3,549			3,361			2,551
Income Before Income Tax Benefit and Equity in Undistributed Income    of Subsidiaries		132,063			177,450			58,507
Income Tax Benefit		1,882			2,036			2,131
Equity in Undistributed Income of Subsidiaries		37,257			46,318			192,734
Net Income	$	171,202		$	225,804		$	253,372
Comprehensive Income (Loss)	$	209,172		$	(142,472	)	$	179,168

Schedule of Condensed Statements of Condition

Condensed Statements of Condition

(dollars in thousands)	December 31, 2023		December 31, 2022
Assets
Cash with Bank of Hawai‘i	$	25,310	$	19,147
Investment Securities Held-to-Maturity		2,500		2,500
Goodwill		14,129		14,129
Other Assets		14,619		11,596
Equity in Net Assets of Subsidiaries		1,369,732		1,279,736
Total Assets	$	1,426,290	$	1,327,108
Liabilities
Income Taxes Payable	$	—	$	349
Other Liabilities		12,048		9,764
Total Liabilities		12,048		10,113
Shareholders' Equity		1,414,242		1,316,995
Total Liabilities and Shareholders' Equity	$	1,426,290	$	1,327,108

Schedule of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2023			2022			2021
Operating Activities
Net Income	$	171,202		$	225,804		$	253,372
Adjustments to Reconcile Net Income to Net Cash Provided by    Operating Activities:
Share-Based Compensation		887			847			779
Net Losses on Sales of Investment Securities		1,394			1,195			948
Equity in Undistributed Income of Subsidiaries		(37,257	)		(46,318	)		(192,734	)
Net Change in Other Assets and Other Liabilities		(585	)		1,138			(977	)
Net Cash Provided by Operating Activities		135,641			182,666			61,388
Investing Activities
Capital Contributions to the Bank of Hawai‘i		—			—			(165,000	)
Expenses related to Sales of Investment Securities		(1,394	)		(1,195	)		(948	)
Net Cash Used in Investing Activities		(1,394	)		(1,195	)		(165,948	)
Financing Activities
Proceeds from Issuance of Common Stock		5,878			6,797			13,611
Proceeds from Issuance of Preferred Stock		—			—			175,487
Repurchase of Common Stock		(14,290	)		(55,063	)		(31,258	)
Cash Dividends Paid Common Stock		(111,795	)		(112,557	)		(110,633	)
Cash Dividends Paid Preferred Stock		(7,877	)		(7,877	)		(2,975	)
Net Cash (Used in) Provided by Financing Activities		(128,084	)		(168,700	)		44,232
Net Change in Cash and Cash Equivalents		6,163			12,771			(60,328	)
Cash and Cash Equivalents at Beginning of Period		19,147			6,376			66,704
Cash and Cash Equivalents at End of Period	$	25,310		$	19,147		$	6,376