Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 66

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1B
Chunk 66
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 2024 compared to the prior year as a result of higher interest-bearing deposit rates, partially offset by higher earning asset yields. Noninterest income decreased by $8.0 million or 47% in 2024 compared to the prior year, primarily due to a $14.7 million gain on the extinguishment of repurchase agreements reported above, which was partially offset by a $4.7 million net loss related to investment securities sales in the prior year. Noninterest expense decreased by $3.9 million or 20% in 2024 compared to the prior year, primarily due to a decrease in the industry-wide FDIC special assessment. The provision for income taxes in this business segment represents the residual amount to arrive at the total tax expense for the Company.

32

Analysis of Consolidated Statements of Condition

Investment Securities

Table 7 presents the maturity distribution at amortized cost, weighted-average yield to maturity, and fair value of our investment securities.

    Maturities and Average Yield on Securities
     
    Table 7

    (dollars in millions)
    1 Year or Less
     
    Weighted Average Yield

    After 1 Year-5 Years
     
    Weighted Average Yield

    After 5 Years-10 Years
     
    Weighted Average Yield

    Over 10 Years
     
    Weighted Average Yield

    Total
     
    Weighted Average Yield

    Fair Value

    As of December 31, 2024

    Available-for-Sale 1

    Debt Securities Issued by the U.S.   Treasury and Government Agencies
    $
    40.5

    1.5
    %
     
    $
    216.3

    3.3
    %
     
    $
    0.2

    4.3
    %
     
    $
    —

    0.0
    %
     
    $
    257.0

    3.0
    %
     
    $
    249.1

    Debt Securities Issued by States and   Political Subdivisions
     
    0.9

    1.5

    28.8

    2.1

    43.5

    2.0

    —

    —

    73.2

    2.1

    63.9

    Debt Securities Issued by U.S