Company: BOH
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001628280-25-036240
Chunk: 212

Company: BANK OF HAWAII CORP
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 2
Chunk 212
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 but tariffs on imported materials and labor are expected to cause construction employment to recede in the coming years. Hawai‘i’s unemployment rate was 2.8% in June 2025, which was below the U.S. unemployment rate of 4.1%.

For the first six months of 2025, the median price of single-family home and condominium sales on Oahu increased by 6.0% and decreased by 0.5%, respectively, compared to the same period in 2024. The volume of single-family homes sales on Oahu decreased 2.1% and condominium sales decreased 6.0% compared to the same period in 2024. Inventory of single-family homes and condominiums on Oahu was 3.7 months and 7.0 months, respectively, for the second quarter of 2025.

Earnings Summary

Net income for the second quarter of 2025 was $47.6 million, an increase of $13.6 million or 40% compared to the same period in 2024. Diluted earnings per common share was $1.06 for the second quarter of 2025, an increase of $0.25 or 31% compared to the same period in 2024.

•The return on average common equity for the second quarter of 2025 was 12.50% compared with 10.41% in the same quarter of 2024.

•Net interest income for the second quarter of 2025 was $129.7 million, an increase of 13% compared to the same period last year. 

•Net interest margin was 2.39% in the second quarter of 2025, an increase of 24 basis points from the same period in 2024. 

•The provision for credit losses for the second quarter of 2025 and 2024 was $3.3 million and $2.4 million, respectively.

•Noninterest income was $44.8 million in the second quarter of 2025, an increase of 6% compared to the same period last year. 

•Noninterest expense was $110.8 million in the second quarter of 2025, an increase of 1% compared to the same period last year. 

•The effective tax rate for the second quarter of 2025 was 21.19% compared with 24.77% compared to the same period last year. 

The balance sheet remained stable during the second quarter of