Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 127

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1B
Chunk 127
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 —

        —

        —

        131

        131

        Home Equity

        133

        —

        —

        —

        616

        749

        Automobile

        8,884

        2,027

        158

        136

        —

        11,205

        Other

        1,132

        115

        27

        75

        —

        1,349

         Total Consumer

        10,149

        2,142

        185

        211

        747

        13,434

        Total Loans and Leases
         
        $
        22,206

        $
        2,229

        $
        185

        $
        211

        $
        747

        $
        25,578

      Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $6.8 million and $4.9 million as of December 31, 2024 and 2023, respectively.

Note 5.  Mortgage Servicing RightsThe Company’s portfolio of residential mortgage loans serviced for third parties was $2.5 billion and $2.6 billion as of December 31, 2024 and 2023, respectively. Substantially all of these loans were originated by the Company and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset and are initially recorded at fair value (see Note 21 Fair Value of Assets and Liabilities for more information). Changes to the balance of mortgage servicing rights are recorded in noninterest income under Mortgage Banking in the Company’s consolidated statements of income.The Company’s mortgage servicing activities include collecting principal, interest, and escrow payments from borrowers; making tax and insurance payments on behalf of borrowers; monitoring delinquencies and executing foreclosure proceedings; and accounting for and remitting principal and interest payments to investors. Servicing income, including late and ancillary fees, was $5.5 million for the year ended December 31, 2024, $5.6 million for 2023 and $6.0 million for 2022. Servicing income is recorded in noninterest income under Mortgage Banking in the Company’s consolidated statements of income. The Company’s residential mortgage investor loan servicing portfolio is primarily comprised of fixed rate loans concentrated in Hawaiʻi.For the years ended