Company: BOH
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001628280-25-036240
Chunk: 85

Company: BANK OF HAWAII CORP
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 Months Ended June 30,Six Months Ended June 30,(dollars in thousands)2025202420252024Consumer Banking$29,737 $31,289 $59,189 $64,093 Commercial Banking30,694 29,213 62,383 58,855 Total60,431 60,502 121,572 122,948 Treasury and Other(12,794)(26,419)(29,950)(52,474)Consolidated Total$47,637 $34,083 $91,622 $70,474 

Consumer Banking

Net income decreased by $1.6 million or 5% in the second quarter of 2025 compared to the same period in 2024, primarily due to a decrease in net interest income. Net interest income decreased by $2.9 million or 3%, primarily due to lower deposit spreads on higher deposit balances.

Net income decreased by $4.9 million or 8% in the first six months of 2025 compared to the same period in 2024, primarily due to a decrease in net interest income, coupled with an increase in noninterest expense and the provision for credit losses. This was partially offset by an increase in noninterest income. Net interest income decreased by $4.2 million or 2%, primarily due to lower deposit spreads on higher deposit balances, as well as lower loan balances. Noninterest expense increased by $3.5 million or 2%, primarily due to higher operational losses, salaries and benefits, and online banking platform costs, and allocated administrative and support unit costs. The provision for credit losses increased by $0.8 million or 15%, primarily due to higher net charge-offs in the auto loan portfolio. Noninterest income increased by $1.8 million or 3%, primarily due to higher monthly service fees, trust and asset management income, credit card commissions, annuity and insurance income, and debit card income.

Commercial Banking

Net income increased by $1.5 million or 5% in the second quarter of 2025 compared to the same period in 2024, primarily due to an increase in net interest income, partially offset by a decrease in noninterest income and an increase in noninterest expense. Net interest income increased by $3.1 million or 6%, primarily due to an increase in loan balances, primarily in commercial mortgages and allocated interest income due to increases in balances and spreads on interest bearing and savings