Company: BOH
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001628280-25-036240
Chunk: 150

Company: BANK OF HAWAII CORP
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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 in interest rates. The related contracts are structured so that the notional amounts reduce over time to generally match the expected amortization of the underlying loan or investment security.

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The notional amount and fair value of the Company’s derivative financial instruments as of June 30, 2025, and December 31, 2024 were as follows:June 30, 2025December 31, 2024(dollars in thousands)Notional AmountFair ValueNotional AmountFair ValueDerivatives designated as hedging instrumentsInterest Rate Swap Agreements 1$2,200,000 $(13,140)$2,000,000 $2,738 Derivatives not designated as hedging instrumentsInterest Rate Lock Commitments1,341 37 1,534 34 Forward Commitments3,082 (8)3,517 6 Interest Rate Swap AgreementsReceive Fixed/Pay Variable Swaps2,165,596 (82,906)2,123,665 (136,218)Pay Fixed/Receive Variable Swaps2,165,596 82,802 2,123,665 136,125 Conversion Rate Swap Agreements 2108,069  NA 96,466  NA Makewhole Agreements 349,161  NA 65,763  NA 1As of June 30, 2025 and December 31, 2024, the amounts presented in the table above exclude forward starting swaps with notional values of $600 million and $300 million, respectively, and fair values of $1.3 million and $4.7 million, respectively. These swaps are scheduled to begin between August 2025 and August 2026.2The conversion rate swap agreements were valued at zero as further reductions to the conversion rate were not reasonably estimable.3The makewhole agreements were valued at zero as the likelihood of a payment required to the buyer was not reasonably estimable.The following table presents the Company’s derivative financial instruments, their fair values, and their location in the unaudited consolidated statements of condition as of June 30, 2025 and December 31, 2024:June 30, 2025December 31, 2024(dollars in thousands)AssetDerivatives 1LiabilityDerivatives 1AssetDerivatives 1LiabilityDerivatives 1Interest Rate Swap AgreementsNot Designated as Hedging