Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 49

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 49
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 2023. Net income for the year was $150.0 million, compared with $171.2 million in the previous year. The hallmark of the Company is to strive to produce superior, risk-adjusted returns, over time. To do this, we run a conservative business, apply strict credit underwriting standards, and do business only with customers we know in geographies we understand. We believe this level of prudence is apparent in the quality of our assets – our non-performing assets level was 0.14% as of December 31, 2024 and our net charge-off rate was 0.09% for the year ended December 31, 2024. The steady nature of our business is also apparent in our performance over time, with our ROCE consistently landing in the top-quartile relative to peers, and our TSR over the last seventeen years outpacing the market, all proving the Company’s long-term value proposition. In 2024, the Company continued to return value to its shareholders through dividends. The Company maintained the quarterly dividend of $0.70 per share throughout 2024. From the beginning of the share repurchase program initiated during July 2001 through December 31, 2024, the Company has repurchased 58.2 million shares of common stock and returned a total of nearly $2.4 billion to our common shareholders at an average cost of $41.24 per share. The Company did not repurchase common stock under the share repurchase program in 2024. Total shareholders’ equity was $1.7 billion at December 31, 2024.

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 41 |

| COMPENSATION DISCUSSION AND ANALYSIS |

Deposit and Loan Growth

Strong Credit Risk Profile

| 42 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| COMPENSATION DISCUSSION AND ANALYSIS |

A Balanced Approach to Capital Return

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 43 |

| COMPENSATION DISCUSSION AND ANALYSIS |

| 2024 SHAREHOLDER OUTREACHIn 2024 and into 2025, the Company continued its ongoing effort to communicate with shareholders and solicit feedback on matters of importance, including our compensation philosophy and plan.As part of this effort, we solicited feedback from our thirty largest shareholders, representing voting authority for approximately 64