Company: BOH
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000046195-25-000037
Chunk: 157

Company: BANK OF HAWAII CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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 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 September 30, 2025 and December 31, 2024:September 30, 2025December 31, 2024(dollars in thousands)AssetDerivatives 1LiabilityDerivatives 1AssetDerivatives 1LiabilityDerivatives 1Interest Rate Swap AgreementsNot Designated as Hedging Instruments$101,508 $101,631 $146,923 $147,016 Designated as Hedging Instruments2,551 9,713 14,507 7,039 104,059 111,344 161,430 154,055 Derivatives not designated as hedging instrumentsInterest Rate Lock Commitments49 — 34 — Forward Commitments3 13 9 3 Total Derivatives$104,111 $111,357 $161,473 $154,058 1Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the unaudited consolidated statements of condition. Derivatives are recognized on the Company's unaudited consolidated statements of condition at fair value.

34

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the unaudited consolidated statements of income for the three and nine months ended September 30, 2025 and 2024:Location of Net Gains (Losses) Recognized in the Statements of IncomeThree Months Ended September 30,Nine Months Ended September 30,(dollars in thousands)2025202420252024Derivatives designated as hedging instrumentsRecognized on Interest Rate Swap AgreementsInterest Income on Investment Securities Available-for-Sale$726 $(22,380)$(6,764)$(2,405)Recognized on Hedged ItemInterest Income on Investment Securities Available-for-Sale(750)22,435 6,746 2,288 Net Cash SettlementsInterest Income on Investment Securities Available-for-Sale226 2,615 205 8,073 Recognized on Interest Rate Swap AgreementsInterest and Fees on Loans and Leases173 (31,