Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 124

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1B
Chunk 124
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        )

            Commercial - Government Agencies or Sponsored Enterprises

        —

        —

        134,923

        (22,592
        )

        134,923

        (22,592
        )

        Total Collateralized Mortgage Obligations

        9,624

        (13
        )

        898,399

        (140,730
        )

        908,023

        (140,743
        )

        Mortgage-Backed Securities:

            Residential - Government Agencies or Sponsored Enterprises

        4

        —

        559,247

        (75,810
        )

        559,251

        (75,810
        )

        Total Mortgage-Backed Securities

        4

        —

        559,247

        (75,810
        )

        559,251

        (75,810
        )

        Total
         
        $
        238,023

        $
        (4,044
        )
         
        $
        2,089,545

        $
        (281,739
        )
         
        $
        2,327,568

        $
        (285,783
        )
       
       The Company does not believe the AFS debt securities that were in an unrealized loss position as of December 31, 2024, which were comprised of 386 individual securities, represent a credit loss impairment. As of December 31, 2024 and 2023, total gross unrealized losses were attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Debt securities issued by corporations are of high credit quality and the issuers continue to make timely principal and interest payments. The Company does not intend to sell the investment securities that were in an unrealized loss position and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity. As of December 31, 2024, the Company determined that the unrealized loss positions in AFS securities were not the result of credit losses, and management had the intent and