Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 107

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1B
Chunk 107
---
 Interest
     
    $
    403,394

    $
    282,025

    $
    49,609

    Cash Paid for Income Taxes

    31,240

    52,246

    53,025

    Non-Cash Investing and Financing Activities:

    Transfer of Investment Securities from Available-for-Sale to Held-to-Maturity

    —

    —

    1,275,043

    Transfer from Loans to Foreclosed Real Estate

    708

    1,625

    —

    Transfers from Loans to Loans Held for Sale

    —

    —

    380

    Transfers from Loans Held for Sale to Loans

    —

    569

    —

The accompanying notes are an integral part of the Consolidated Financial Statements.

59

Note 1.  Basis of Presentation Bank of Hawaii Corporation (the “Parent”) is a Delaware corporation and a bank holding company headquartered in Honolulu, Hawaiʻi. Bank of Hawaii Corporation and its subsidiaries (collectively, the “Company”) provide a broad range of financial products and services to customers in Hawaiʻi, Guam, and other Pacific Islands. The majority of the Company’s operations consist of customary commercial and consumer banking services including, but not limited to, lending, leasing, deposit services, trust and investment activities, brokerage services, and trade financing. The accounting and reporting principles of the Company conform to U.S. generally accepted accounting principles (“GAAP”) and prevailing practices within the financial services industry. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements. Certain prior period information has been reclassified to conform to the current year presentation.

Note 2.  Summary of Significant Accounting PoliciesThe following is a summary of the Company’s significant accounting policies:ConsolidationThe accompanying Consolidated Financial Statements include the accounts of the Parent and its subsidiaries. The Parent’s principal operating subsidiary is Bank of Hawaiʻi (the “Bank”). All significant intercompany accounts and transactions have been eliminated in consolidation.Variable Interest EntitiesVariable interests are defined as contractual ownership or other interests in an entity that change with fluctuations in an entity’s net asset value. The primary beneficiary consolidates the variable interest entity (“VIE”). The primary beneficiary is defined as the enterprise that has both the power to direct the activities of the VIE