Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 58

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1B
Chunk 58
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 billion or 1% from the prior year. The portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises. In 2024, we purchased $470.8 million of investment securities, the majority of which were floating rate securities.

•Total loans and leases were $14.1 billion as of December 31, 2024, an increase of 1% from the prior year.

•Total deposits were $20.6 billion as of December 31, 2024, a decrease of 2% from the prior year.

•Total shareholders’ equity was $1.7 billion as of December 31, 2024, an increase of 18% from the prior year due to the issuance of Series B Preferred Stock in the second quarter of 2024.

•No shares of common stock were repurchased under the share repurchase program in 2024. Total remaining buyback authority under the share repurchase program was $126.0 million as of December 31, 2024.

•The Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company’s outstanding common shares. The dividend will be payable on March 14, 2025 to shareholders of record at the close of business on February 28, 2025.

27

Analysis of Consolidated Statements of Income

Average balances, related income and expenses, and resulting yields and rates, on a taxable-equivalent basis, are presented in Table 1. An analysis of the change in net interest income, on a taxable-equivalent basis, is presented in Table 2.

    Average Balances and Interest Rates – Taxable-Equivalent Basis 1
     
    Table 1

    2024

    2023

    (dollars in millions)
     
    AverageBalance

    Income/Expense 2

    Yield/Rate

    AverageBalance

    Income/Expense

    Yield/Rate

    Earning Assets

    Cash and Cash Equivalents
     
    $
    594.1

    $
    30.7

    5.17
    %
     
    $
    543.9

    $
    28.4

    5.22
    %

    Investment Securities

    Available-for-Sale

    Taxable

    2,433.8

    89.3

    3.67

    2,631