Company: BOH
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000046195-25-000037
Chunk: 47

Company: BANK OF HAWAII CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 losses or the right to receive benefits that could be significant to the entities. Therefore, the Company has determined that it is not the primary beneficiary of any LIHTC entity. The Company uses the effective yield method to account for its pre-2015 investments in these entities. Beginning January 1, 2015, any new investments that meet the requirements of the proportional amortization method are recognized using the proportional amortization method. The Company’s net affordable housing tax credit investments including the related unfunded commitments were $216.3 million and $233.2 million as of September 30, 2025 and December 31, 2024, respectively, and are included in Other Assets in the unaudited consolidated statements of condition.Unfunded CommitmentsAs of September 30, 2025, the expected payments for unfunded affordable housing commitments were as follows:(dollars in thousands)Amount2025$22,573 202653,843 202711,462 2028268 2029234 Thereafter16,241 Total Unfunded Commitments$104,621 The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three and nine months ended September 30, 2025 and 2024.Three Months Ended September 30,Nine Months Ended September 30,(dollars in thousands)2025202420252024Effective Yield MethodTax Credits and Other Tax Benefits Recognized$533 $1,137 $1,598 $3,411 Amortization Expense in Provision for Income Taxes557 1,119 1,671 3,358 Proportional Amortization MethodTax Credits and Other Tax Benefits Recognized$8,844 $6,210 $26,532 $18,631 Amortization Expense in Provision for Income Taxes7,491 5,348 22,473 16,044 There were no impairment losses related to LIHTC investments during the nine months ended September 30, 2025 and 2024.

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Note 6.  Securities Sold Under Agreements to Repurchase

The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of September 30, 2025 and December 31, 2024, by collateral pledged.Remaining Contractual Maturity of Repurchase Agreements(dollars in thousands)Up to 90 days91-365 days1-3