Company: BOH
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001628280-25-036240
Chunk: 166

Company: BANK OF HAWAII CORP
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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. The volume of single-family homes sales on Oahu decreased 2.1% and condominium sales decreased 6.0% compared to the same period in 2024. Inventory of single-family homes and condominiums on Oahu was 3.7 months and 7.0 months, respectively, for the second quarter of 2025.

Earnings Summary

Net income for the second quarter of 2025 was $47.6 million, an increase of $13.6 million or 40% compared to the same period in 2024. Diluted earnings per common share was $1.06 for the second quarter of 2025, an increase of $0.25 or 31% compared to the same period in 2024.

•The return on average common equity for the second quarter of 2025 was 12.50% compared with 10.41% in the same quarter of 2024.

•Net interest income for the second quarter of 2025 was $129.7 million, an increase of 13% compared to the same period last year. 

•Net interest margin was 2.39% in the second quarter of 2025, an increase of 24 basis points from the same period in 2024. 

•The provision for credit losses for the second quarter of 2025 and 2024 was $3.3 million and $2.4 million, respectively.

•Noninterest income was $44.8 million in the second quarter of 2025, an increase of 6% compared to the same period last year. 

•Noninterest expense was $110.8 million in the second quarter of 2025, an increase of 1% compared to the same period last year. 

•The effective tax rate for the second quarter of 2025 was 21.19% compared with 24.77% compared to the same period last year. 

The balance sheet remained stable during the second quarter of 2025. We experienced a modest decline in loans, while deposits slightly increased.

•Total assets were $23.7 billion as of June 30, 2025, an increase of 0.5% from December 31, 2024.

•Total loans and leases were $14.0 billion as of June 30, 2025, a decrease of 0.52% from December 31, 2024.

•The allowance for credit losses on loans and leases was $148