Bank of Hawaii Corporation Financial Statements (Tables)

12 Months Ended

Dec. 31, 2011

Bank of Hawaii Corporation Financial Statements

Schedule of condensed statements of income

	Year Ended December 31,
(dollars in thousands)	2011		2010		2009
Income
Dividends and Interest from Bank of Hawaii	$	148,356	$	110,161	$	123,904
Other Income		496		903		462
Total Income		148,852		111,064		124,366
Interest Expense
Privately Placed Notes		-		-		145
Total Interest Expense		-		-		145
Noninterest Expense
Intercompany Salaries and Services		867		1,171		925
Other Expenses		1,349		2,086		3,164
Total Noninterest Expense		2,216		3,257		4,089
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries		146,636		107,807		120,132
Income Tax Benefit		1,855		1,817		2,489
Equity in Undistributed Income of Subsidiaries		11,552		74,318		21,412
Net Income	$	160,043	$	183,942	$	144,033

Schedule of condensed statements of condition

(dollars in thousands)	December 31, 2011		December 31, 2010
Assets
Cash with Bank of Hawaii	$	6,822	$	5,001
Funds Sold To Bank of Hawaii		61,250		96,109
Goodwill		14,129		14,129
Taxes Receivable and Deferred Taxes		1,896		1,647
Other Assets		7,377		8,221
Equity in Net Assets of Subsidiaries		928,032		902,631
Total Assets	$	1,019,506	$	1,027,738
Liabilities
Taxes Payable	$	6,236	$	6,990
Other Liabilities		10,603		9,615
Total Liabilities		16,839		16,605
Shareholders' Equity		1,002,667		1,011,133
Total Liabilities and Shareholders' Equity	$	1,019,506	$	1,027,738

Schedule of condensed statements of cash flows

	Year Ended December 31,
(dollars in thousands)	2011			2010			2009
Operating Activities
Net Income	$	160,043		$	183,942		$	144,033
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Share-Based Compensation		(352	)		(2,501	)		374
Equity in Undistributed Income of Subsidiaries		(11,552	)		(74,318	)		(21,412	)
Net Change in Other Assets and Other Liabilities		1,709			4,390			(700	)
Net Cash Provided by Operating Activities		149,848			111,513			122,295
Financing Activities
Repayments of Long-Term Debt		-			-			(25,000	)
Tax Benefits from Share-Based Compensation		889			2,983			278
Proceeds from Issuance of Common Stock		12,660			16,417			9,664
Repurchase of Common Stock		(111,544	)		(24,981	)		(1,337	)
Cash Dividends Paid		(84,891	)		(86,823	)		(86,236	)
Net Cash Used in Financing Activities		(182,886	)		(92,404	)		(102,631	)
Net Change in Cash and Cash Equivalents		(33,038	)		19,109			19,664
Cash and Cash Equivalents at Beginning of Period		101,110			82,001			62,337
Cash and Cash Equivalents at End of Period	$	68,072		$	101,110		$	82,001