Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 253

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 253
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 carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Debt securities issued by corporations are of high credit quality and the issuers continue to make timely principal and interest payments. The Company does not intend to sell the investment securities that were in an unrealized loss position and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity. As of December 31, 2024, the Company determined that the unrealized loss positions in AFS securities were not the result of credit losses, and management had the intent and ability to hold to recovery, therefore, an allowance for credit losses was not recorded.  Substantially all of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities as of December 31, 2024.

71

Interest income from taxable and non-taxable investment securities for the years ended December 31, 2024, 2023 and 2022 were as follows: 

        Year Ended December 31,

        (dollars in thousands)
         
        2024

        2023

        2022

        Taxable
         
        $
        174,782

        $
        186,082

        $
        151,953

        Non-Taxable

        438

        196

        92

        Total Interest Income from Investment Securities
         
        $
        175,220

        $
        186,278

        $
        152,045

Note 4.  Loans and Leases and the Allowance for Credit LossesLoans and LeasesThe Company’s loan and lease portfolio was comprised of the following as of December 31, 2024 and 2023: 

        December 31,

        (dollars in thousands)
         
        2024

        2023

        Commercial

        Commercial Mortgage
         
        $
        4,020,622

        $
        3,749,016

        Commercial and Industrial

        1,